What Has Been the Growth Trajectory of the Life Science And Chemical Instrumentation Market?
The life science and chemical instrumentation market has seen considerable growth due to a variety of factors.
• In recent times, the market size for life science and chemical instrumentation has seen substantial growth. The market value is projected to rise from $58.23 billion in 2024 to $62.3 billion in 2025, displaying a compound annual growth rate (CAGR) of 7.0%. The notable growth observed during the historical period may be linked to factors such as the escalation in research and development activities, strict regulations, rising healthcare expenses, the international spread of research, and government rules.
What Is The Expected Growth In The Life Science And Chemical Instrumentation Market?
The Life Science And Chemical Instrumentation market is expected to maintain its strong growth trajectory in upcoming years.
• There is anticipation for significant expansion in the life science and chemical instrumentation market, with predictions forecasting that it will reach a valuation of $85.57 billion by 2029, marking a compound annual growth rate (CAGR) of 8.3%.
The projected growth over the coming years can be linked to factors like heightened regulatory intricacy, the widening scope of personalised medicine, the evolution of emerging markets, and a heightened emphasis on environmental testing. Technology advancements in analytical devices, product breakthroughs, and a shift towards eco-friendly and sustainable practices, alongside the inclusion of IoT and big data analytics are the key trends set to shape this period of growth.
What Main Forces Are Fueling Expansion In The Life Science And Chemical Instrumentation Market?
The increasing occurrence of long-term illnesses is anticipated to prop up the expansion of the life science and chemical instrumentation market. A long-term or chronic condition is one that lasts for more than a year and may potentially worsen over time. It typically requires ongoing medical attention and might limit everyday activities. The most common types of chronic diseases include cancer, heart disease, stroke, diabetes, and arthritis. Life science and chemical instruments play a significant role in quality testing, production process control and monitoring, food product quality assurance and in managing lab information pertaining to chronic diseases. For example, in January 2022, as per the American Cancer Society, a US-based non-profit devoted to cancer awareness, it is anticipated that there will be around 1.9 million new cancer diagnoses and about 609,360 cancer-associated fatalities in the US, equating to nearly 1,670 deaths each day. Therefore, the rising incidence of chronic diseases fuels the growth of the life science and chemical instrumentation market.
What Are The Primary Segments In The Global Life Science And Chemical Instrumentation Market?
The life science and chemical instrumentation market covered in this report is segmented –
1) By Technology: Polymerase Chain Reaction (PCR), DNA Sequencers and Amplifiers, Flow Cytometry, Spectroscopy, Electrophoresis, Chromatography, Centrifuges, Other Technologies
2) By Application: Cell Culture And Cell Therapy, Cancer Research, Drug Discovery, Genomics, In Vitro Fertilization, Bioprocess, Metabolomics, Proteomics, Other Applications
3) By End Users: Hospitals And Diagnostic Centers, Pharmaceutical And Biotechnology Companies, Contract Research Organization (CRO), Academia And Research Institutes
Subsegments:
1) By Polymerase Chain Reaction (PCR): Real-Time PCR, Digital PCR, Standard PCR
2) By DNA Sequencers And Amplifiers: Next-Generation Sequencing (NGS), Sanger Sequencing
3) By Flow Cytometry: Cell Sorting, Multiparameter Analysis
4) By Spectroscopy: UV-Vis Spectroscopy, Mass Spectrometry, Infrared Spectroscopy
5) By Electrophoresis: Gel Electrophoresis, Capillary Electrophoresis
6) By Chromatography: Gas Chromatography (GC), High-Performance Liquid Chromatography (HPLC)
7) By Centrifuges: Benchtop Centrifuges, Ultracentrifuges
8) By Other Technologies: Microarray Technology, Immunoassay
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Which Key Trends Are Driving Changes In The Life Science And Chemical Instrumentation Market?
A key trend gaining traction in the life science and chemical instrumentation market is the progress in technological advancements linked to analytical devices. Major firms in the life science and chemical instrumentation market are putting efforts into offering inventive technologies as a means to fortify their market positioning. For example, in October 2023, Shimadzu Corporation, a Japanese firm making such analytical instruments, introduced the Brevis GC-2050. This apparatus, with its high scalability, can facilitate connections to various devices like mass spectrometers, auto-samplers and other accessories, all while upholding a slim profile of just 35 cm. It outperforms traditional models by reducing energy consumption by 30% and decreasing helium usage, thus encouraging environmental sustainability. The Brevis GC-2050, a compact and superior gas chromatography system, comes with smart automated features.
Who Are the Key Players In The Life Science And Chemical Instrumentation Market?
Major companies operating in the life science and chemical instrumentation market include:
• Agilent Technologies Inc.
• Becton Dickinson and Company
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• Danaher Corporation
• PerkinElmer Inc.
• Thermo Fisher Scientific Inc.
• Waters Corporation
• F. Hoffmann-La Roche Ltd.
• Illumina Inc.
• Shimadzu Corporation
• General Electric Healthcare LLC
• Hitachi High-Technologies Corporation
• JEOL Ltd.
• Oxford Instruments PLC
• Rigaku Corporation
• Sigma-Aldrich Corporation
• SRI Instruments
• Analytik Jena AG
• Biochrom Ltd.
• BioTek Instruments Inc.
• Cole-Parmer Instrument Company LLC
• Eppendorf AG
• Harvard Bioscience Inc.
• HORIBA Ltd.
• Labconco Corporation
• Mettler-Toledo International Inc.
• New England Biolabs Inc.
• QIAGEN N.V.
What Is The Most Dominant Region In The Life Science And Chemical Instrumentation Market?
North America was the largest region in the life science and chemical instrumentation market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the life science and chemical instrumentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
