Hyderabad, March 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Analytical Instrumentation Market Report-2023-2028,” the market is expected to witness a CAGR of 7.5%. The increasing concern for product quality, increasing investments in R&D, and stringent government regulations are the major factors driving the analytical instrumentation market’s growth. In January 2022, Fujifilm announced the addition of an additional 89,000 sq. ft of laboratory space at its North Carolina facility, which will feature analytical instrumentation, high throughput bioprocessing equipment, and automation technologies to support the process characterization program.
Global Analytical Instrumentation Market Analysis - What is driving the growth of the market?
Life sciences account for the largest analytical instrument industry share, representing a quarter of the entire industry. Life sciences comprise more than 13 individual technology segments, encompassing various applications using analytical tools such as spectrometry, atomic spectroscopy, and molecular spectroscopy, among others. It provides significant opportunities for the growth of both general instrument applications and niche research systems.
- Demand for Next Generation Sequencing (NGS) continues to flourish, impacting the sequencing segment and driving strong demand in the nucleic acid sample preparation segment.
- This growth was evident in the public and private sectors, as genomics technology went beyond basic research to reach the biomedical domain.
- Such tremendous growth is expected to create a significant demand for analytical instrumentation solutions, as it helps pharmaceutical companies comply with stringent regulations on drug safety.
- The market is witnessing several strategic developments, such as new product developments, mergers, and collaboration, that suggest an increase in the adoption of analytical tools in the segment.
- Drug discovery and clinical research require various complex diagnostic instruments, analytical instruments, advanced medical devices, testing equipment, and many other specialized products.
The COVID-19 pandemic resulted in significant demand in the market due to the growing need for accelerated research and public expectations of unprecedented progress from the scientific community. Hence, the demand for analytical instrumentation in the life sciences industry is expected to grow with increasing clinical research and drug discovery activities.
How is the growth being addressed?
One sector that received significant growth for analytical instruments from the Chinese government is life sciences. Within the 13th Five-Year Plan period, the life sciences industry in China registered medium-to-high-speed growth. The Chinese government announced that it would further include a commitment to invest around USD 9 billion in the precision medicine industry over the next 20 years in its next five-year plan.
According to the Indian Analytical Instrument Association (IAIA), the country presently accounts for about 2-3% of the global analytical instrumentation market. However, India is at a very micro-scale in manufacturing, especially for high-end equipment like liquid chromatography and mass spectrometry.
Countries such as India have also been among the emerging markets in the analytical instrumentation industry owing to higher investment in testing and R&D activities. The growing awareness among the country's expanding end-user industries is also driving investment in the market.
Who are the key players in the Analytical Instrumentation Market?
The analytical instrumentation market is fragmented and is home to numerous primary and smaller vendors depending on the location.
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
- Malvern Panalytical Ltd (Spectris company)
- Mettler Toledo International Inc.
- Waters Corp.
- Bio-Rad Laboratories Inc.
Recent developments in the Analytical Instrumentation Market:
- In February 2022: Sartorius AG announced the acquisition of Novasep’s chromatography division. The portfolio acquired encompasses chromatography systems suited for smaller biomolecules, such as oligonucleotides, peptides, and insulin and innovative systems for continuous biologics manufacturing.
- In January 2022: Bruker Corporation announced the acquisition of Prolab Instruments GmbH, a Swiss technology company specializing in low-flow, high-precision liquid chromatography technology and systems.
- In February 2022: AMETEK Spectro Scientific announced the release of its online Fluid Management Academy (FMA). The FMA is an online learning platform offering customers a range of courses about Spectro Scientific’s and Grabner Instruments’ fluid analysis products for material sciences.
Briefly, the Mordor Intelligence Analytical Instrumentation Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand the Analytical Instrumentation industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/analytical-instrumentation-market
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