The global analytical laboratory instrument market size is expected to grow from $92.22 billion in 2021 to $108.11 billion in 2022 at a compound annual growth rate (CAGR) of 17.2%. The growth in the analytical laboratory instrument market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The analytical laboratory instruments market is expected to reach $184.49 billion in 2026 at a CAGR of 14.3%.
What is the Global Analytical Laboratory Instrument Market?
The analytical laboratory instruments market consists of sales of analytical laboratory instruments and related services. These instruments are used in laboratory analysis of the chemical or physical composition or concentration of solid, liquid, gaseous, or composite material. Analytical instruments are a large class of instruments used in chemical, pharmaceutical, life-sciences, food processing labs and oil refineries for testing the samples.
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What drives the Global Analytical Laboratory Instrument Market?
The rapid growth in life science industries contributed to growth of analytical laboratory instruments market. A growing patient population suffering from life-style related problems such as diabetes and heart-related problems, and other life-threatening diseases such as cancer and growing investment on research and development and increasing aged population aided the growth in life science industry. This rapid growth in population depending on life sciences market will increase the necessity to conduct lab researches that require analytical laboratory instruments thereby increasing the demand for laboratory instruments. Therefore, growing life science industry is expected to drive the market for analytical laboratory instruments.
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Global Analytical Laboratory Instrument Market Segments
The global analytical laboratory instrument market is segmented:
By Type: Element Analysis, Separation Analysis, Molecular Analysis
By End-User: Hospitals, Diagnostic Laboratories, Pharmaceutical, Biotechnology
By Application: Research, Clinical, Diagnostic, Others
By Geography: The regions covered in the analytical laboratory instrument market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Analytical Laboratory Instrument Global Market Report 2022 provides market size and growth forecasts for the global analytical laboratory instrument market, global analytical laboratory instrument market share, analytical laboratory instrument market segments and geographies, analytical laboratory instrument market competitive landscape including leading competitors’ revenues, profiles and market shares. The analytical laboratory instrument market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Analytical Laboratory Instrument Industry Players include Agilent Technologies, Waters Corporation, Thermo Fisher Scientific, Danaher Corporation, SP Industries, PerkinElmer, Danaher Corp, Chemglass Life Sciences Inc., Citotest Labware Manufacturing Co. Ltd., Kimble Chase, Scilabware Ltd., and Bio-Rad Laboratories. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
