Biotechnology Instruments Market Size to Hit US$ 110.15 Billion by 2030

Latest Study on “Biotechnology Instruments Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Biotechnology Instruments market size is expected to be worth around US$ 110.15 billion by 2030, according to a new report by Nova one advisor.

The global Biotechnology Instruments market size was valued at US$ 46.14 billion in 2021 and is anticipated to grow at a CAGR of 13.66% during forecast period 2022 to 2030.

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Key Takeaways:

• By product, the life science consumables segment accounted for the largest share in 2020 and is expected to dominate the market from 2022 to 2030. The COVID-19 pandemic has resulted in a significant revenue contribution to this segment in 2021
• More than 300 Real-time Polymerase Chain Reactions (RT-PCRs) are being developed for the detection of SARS-COV-2 infection, however, only 7 to 10 kits have been commercialized for pooled sample testing against COVID-19
• The lab automation instruments product segment is expected to witness growth in the years to come owing to the rise in demand for automated sample preparation instruments for clinical genomics laboratories
• Based on end use, the hospitals and healthcare facilities segment is expected to dominate the market throughout the forecast period owing to an increase in demand for in vitro diagnostic (IVD) point-of-care devices in clinical laboratories and hospitals
• The growing demand for rapid drug development and the commercialization of new drug molecules for the treatment of different diseases drive the need for sophisticated instruments in the pharmaceutical and biotechnology companies end-use segment
• North America held the largest revenue share in 2021 owing to the higher penetration of genomic, proteomic, and cell biology-based platforms in the region

The high adoption of point-of-care diagnostic devices is a key factor driving the market. Continuous advancements in R&D have enhanced the capabilities of point-of-care (POC) testing systems. Novel equipment offer a broad menu of tests, which can be used in multiple hospital settings. Novel POC devices allow real-time transmission of test results to the electronic medical record of patients for easy review from physicians. The systems have also been designed in a way that they can easily comply with changes in laboratory regulations. A rise in the prevalence of chronic disorders, including infectious diseases (such as COVID-19), cardiovascular disorders, diabetes, cancer, and others, is also expected to propel the market growth.

The market is collectively driven by technological advancements, advantages offered by laser therapy, growing prevalence of target diseases, rising geriatric population, and increasing demand for Point-Of-Care (POC) tests and devices.

Rising demand for POC devices in the home and other healthcare settings to cater to the elderly population and increasing government initiatives to shorten hospital stays by establishing outpatient care models are expected to drive the demand for POC diagnostics over the next six years. The growth in the biotechnology industry can also be attributed to several factors such as the launch of new and innovative products, agreements, acquisitions, technological advancements, and increasing adoption in various applications.

For instance, in January 2021, Sartorius Stedim Biotech acquired Novasep’s chromatography process equipment division. Its chromatography product portfolio consists of intensified chromatography systems and resin-based batch for multi-use applications, such as oligonucleotides, small molecules, insulin, and peptides.

In addition, companies are launching new products for facilitating rapid downstream processing. For instance, in February 2021, Waters Corporation launched a next-generation liquid chromatography system-Waters ACQUITY PREMIER Solution. It features the company’s breakthrough MaxPeak High-performance Surface technology. The advantages of the system include the elimination of time-consuming steps and improvement in analytical data quality.

Report Scope of the Biotechnology Instruments Market

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Product Insights

The life science consumables segment dominated the market in 2021 with a revenue share of over 56.0% and is expected to grow at the fastest rate over the forecast period. The launch of new PCR test kits is expected to be a major driver for the segment. The COVID-19 pandemic has led to the rapid increase in the adoption of RT-PCR kits, making significant contributions to life science consumables segment revenue. The WHO has also urged regions to increase the early detection of COVID-19, which is driving the adoption of reagents and kits on a large scale.

Medical lasers have emerged as a lucrative market space, primarily due to their expanding applications. Medical lasers have been used predominantly in various surgical procedures. Recent developments in lasers in terms of convenient usage, compact devices/miniaturization, and self-contained modules have created new opportunities for market expansion in neurosurgery, ophthalmology, dermatology, and dentistry.

The availability of advanced and flexible technologies employed to develop the latest generation of medical lasers has shifted the use of these lasers from primary applications, such as cutting or removing to critical treatment approaches for repairing damaged areas in the body. Automation is expected to gain wider acceptance in the field of biotechnology, contributing to the growth of the lab automation segment. Technological advancements in automated liquid handling and innovations in bioinformatics and liquid biopsy are expected to significantly contribute to the growth of precision medicine.

The advent of microarrays and lab-on-chip technology is expected to revolutionize laboratory workflow processing. A rapid increase in the number of assays being performed for various research purposes, such as target screening in oncology research, has increased the demand for low-volume, high-throughput liquid handling tools and techniques. Automated Liquid Handlers (ALH) have gradually become a significant part of workflows in most of the large- and medium-scale life sciences research laboratories.

End-use Insights

Hospitals and healthcare facilities accounted for the largest revenue share of over 46.0% in 2021. COVID-19 has fueled the demand for IVD point-of-care devices in hospitals. Recent advancements in IVD instruments have made them convenient to use and highly efficient, which has raised their adoption across healthcare settings.

For instance, in February 2021, Beckman Coulter introduced DXH560 AL, a tabletop hematology analyzer. It is intended to minimize the time and resource restriction faced by mid-and small-sized laboratories. The tabletop hematology analyzer provides results within a minute or less. It can be used with difficult-to-draw patients (elderly, oncology, and infants) because it required 17 μL specimens, which is less than a blood drop.

Owing to the high consumer expectations pertaining to diagnosis accuracy, speed, and procedural affordability of instruments used in clinical laboratories, several companies are continuously advancing their portfolio to meet the needs of healthcare professionals. For instance, in October 2020, Becton, Dickinson & Company secured FDA clearance for FACSLyric flow cytometry with the joined BD FACSDuet sample preparation system. The product enables clinical laboratories to fully automate sample preparation and improve their efficiency.

Regional Insights

North America captured the largest revenue share of over 41.0% in 2021 owing to the high demand and affordability of biotechnology instrumentation. In addition, the inclination toward manual automation in the biotechnology, pharmaceuticals, and related industries in the region is boosting the demand for advanced and sophisticated instruments to ease and accelerate the process. Furthermore, the availability of government funding for research is anticipated to boost the market growth.

In July 2020, the National Institutes of Health (NIH) invested USD 248.7 million for the development of novel techniques to address limitations related to COVID-19 testing. Several local companies have invested in the development of novel technologies. For instance, in November 2020, Enzo Biochem launched a small portable microplate reader for point-of-care clinical testing.

The Canadian industry is leaning toward the automation of laboratories to increase the potential of industrial output and clinical settings. In June 2021, ATS Automation Tooling Systems, Inc. acquired BioDot, Inc., an automated fluid dispensing systems manufacturer, to expand its life sciences capabilities. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to the rapidly improving economy and growing investments in the biotechnology sector.

The COVID-19 pandemic has created a need for rapid diagnostic assays and self-testing kits, and several companies are actively fulfilling these requirements. In December 2020, Shimadzu Corporation launched fully automated PCR testing AutoAmp Genetic Analyzer (AutoAmp) in Japan. This enhanced the COVID-19 testing capabilities of clinics in Japan.

Key Companies & Market Share Insights

The market for biotechnology instruments is marked by the presence of several well-established and emerging players. Well-established players have undertaken strategies such as product launches, mergers, and acquisitions to increase their market share. In July 2021, Lumenis launched MOSES 2.0 Next-Generation Holmium Laser Technology to improve the efficiency of urinary stones and enlarged prostate procedures by optimizing laser energy transmission. The life sciences tools and platforms industry has more than 3,600 startups, which include instrument and consumable manufacturers such as lab automation devices, assay platforms, kits and reagents, and other instruments. The sector has received overall funding of USD 73.5 billion, out of which more than 30% has been raised from 2018-2020. Therefore, a rise in funding initiatives helps startups to expand their market footprint. Some prominent players in the global biotechnology instruments market include:

• Abbott
• Agilent Technologies
• Alcon, Inc.
• AngioDynamics
• Becton, Dickinson, and Company
• BioMerieux SA
• Bio-Rad Laboratories
• BioTek Instruments, Inc.
• Candela Medical
• Cynosure, LLC
• Danaher Corporation
• Endress+Hauser (Analytik Jena GmbH)
• F. Hoffmann-La Roche Ltd.
• IIlumina Inc.
• IRIDEX
• Lumenis
• Merck KGaA
• Novanta, Inc.
• Perkin Elmer, Inc.
• QIAGEN
• Siemens Healthineers
• Tecan Group AG
• Thermo Fisher Scientific, Inc.
• Waters Corporation
• Zimmer MedizinSysteme

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biotechnology Instruments market

• Product
  • Lab Automation Instruments
    • Proteomics
    • Genomics
    • Sequencing
    • Spatial Cell Analysis
    • Others
  • Life Science Consumables
  • IVD Instruments
  • Medical Lasers
    • Therapeutics
    • Ophthalmic
    • Ablation
• End-use
  • Government & Academic Institutes
  • Pharmaceutical & Biotechnology Companies
  • Hospitals & Healthcare Facilities
  • Others

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Biotechnology Instruments market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Biotechnology Instruments market

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