The life sciences and biotechnology industry segment that develops and supplies advanced scientific instruments for research and analysis. Instruments like mass spectrometers and DNA sequencers are used to study cellular structures and genetic information, driving scientific advancements.
According to the new market research report "Life Science Instrumentation Market by Technology (Spectroscopy, Chromatography, Immunoassay, NGS, PCR, Microscopy), Application (Diagnostic, Clinical), End User (Pharma, Agriculture & Food Industry, Hospitals, Diagnostic Labs) & Region - Global Forecast to 2028"
The global life science instrumentation market in terms of revenue was estimated to be worth $54.9 billion in 2023 and is poised to reach $73.9 billion by 2028, growing at a CAGR of 6.1% from 2023 to 2028.
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The pharmaceutical industry focuses and invests in research to manufacture protein-related products. Drug development and manufacturing involve different types of analytical instruments. Analytical instruments evaluate drug molecules, protein analysis and purification, and quality control. Protein identification and separation is an important step in drug manufacturing. Technologically advanced equipment helps understand the characterization of a molecule and ensure its safety and purity. In recent years, emerging markets have also witnessed a significant increase in foreign direct investment and government investments in pharmaceutical R&D. Thus, increasing R&D spending in the life sciences, pharmaceutical, and biotechnology sectors will likely increase the application usage of life science instruments.
Market key Players
Prominent players operating in the global life science instrumentation market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), Shimadzu Corporation (Japan).
Report Objectives
- To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
- To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To strategically analyze the market structure and profile the key players of the market and comprehensively analyze their core competencies
- To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
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