Life Science Instrumentation Market Size to Gain USD 106.5 BN by 2030

According to Nova one advisor's recent analyses the global Life Science Instrumentation market size is expected to hit USD 106.5 billion by 2030 from at USD 57.6 billion in 2022  and is expanding growth at a noteworthy CAGR of 6.27% from 2022 to 2030.

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Usage of various methods such as chromatography, spectroscopy, next-generation sequencing, polymerase chain reaction, flow cytometry, immunoassays, and clinical chemistry analyzers has increased significantly. This has led to a rise in demand for life science and chemical instrumentation in the global market, thus boosting the life science and chemical instrumentation market. Companies in the global life science instrumentation market are emphasizing on the release of innovative, cutting-edge products. This is likely to augment the global life science instrumentation market size in the near future.

Rise in Prevalence of Chronic and Infectious Diseases to Fuel Global Life Science Instrumentation Market

Life science laboratory equipment is primarily used for the diagnosis of infectious and chronic diseases. The advent and breakout of several infectious diseases have presented obstacles as well as new possibilities for researchers working on diagnostic tools and tests for advanced disease detection and prevention. According to the WHO's World Health Report, infectious diseases account for around 17 million deaths globally each year. Furthermore, the emergence of new diseases has increased in the last few years, as a number of countries have reportedly not made enough investment in R&D to combat prevalent infectious diseases. The need for diagnostic technologies for the early diagnosis of infectious diseases to prevent outbreaks is rising. This is anticipated to propel the global life science instrumentation market.

Report Scope of the Life Science Instrumentation Market

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Increase in R&D Activities in Biotechnology and Pharmaceuticals Industries to Propel Market

Industries such as biotechnology and pharmaceuticals are investing significantly in R&D. This can be ascribed to the rise in need for quick medication development and innovative drug molecule commercialization for the treatment of uncommon illnesses. According to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA), the pharmaceutical industry spends around US$ 150 Bn on research and development annually. More than 7,000 novel compounds were developed, while 56 new medications were introduced in 2015. Rapid and effective life science instrumentation devices are required to accelerate the drug development process. Rise in R&D in drug development for conditions such as cardiovascular illnesses, neurological disorders, cancer, and infectious diseases is expected to drive the global life science instrumentation market.

Improvement in Spectroscopic Technology and Rise in Demand for Real-time Sample Analysis Driving Spectroscopy Segment

In terms of technique, the life science instrumentation market has been classified into spectroscopy, chromatography, polymerase chain reaction, next-generation sequencing, clinical chemistry analyzers, flow cytometry, immunoassays, and others (incubator, electrophoresis, etc.). The spectroscopy segment dominated the global life science instrumentation market in 2021. Spectroscopy is essential in domains relating to bio- and life sciences for detection, identification, and quantification of molecules. The spectroscopy segment is anticipated to be driven by ongoing improvements in spectroscopic technology and rise in demand for real-time sample analysis.

Mounting Pressure on Pharmaceutical Industry to Create Novel, Affordable Treatments Fueling Research Applications Segment

Based on application, the global market has been divided into research applications, laboratory applications, and others. Research applications is expected to be a highly attractive segment of the global life science instrumentation market during the forecast period. This can be ascribed to the mounting pressure on the pharmaceutical industry to create novel, affordable treatments for different ailments. Surge in drug discovery activities is also projected to drive the demand for life science lab instruments. Rise in innovative medications & treatments under development is likely to augment the research applications segment during the forecast period.

Increase in Usage of Life Science and Chemical Instrumentation in Drug Manufacturing Process Augmenting Pharmaceutical & Biotechnology Companies Segment

In terms of end-user, the global life science instrumentation market has been classified into research institutes, pharmaceutical & biotechnology companies, diagnostic laboratories, and others. The pharmaceutical & biotechnology companies segment held the major share of the global market in 2021. The segment is projected to sustain its market share during the forecast period due to the increase in usage of life science and chemical instrumentation in drug manufacturing processes to maintain the quality of drugs.

Regional Outlook of Global Life Science Instrumentation Market

North America dominated the global life science instrumentation market in 2021. It is projected to maintain its share during the forecast period. This can be ascribed to a large patient pool, technological advancements, and high acceptance of advanced treatments in the region. Increase in health care expenditure, rise in prevalence & incidence of chronic infectious diseases, and surge in investments are also anticipated to propel the life science instrumentation market in North America in the next few years.

Europe accounted for the second largest share of the global market in 2021. High prevalence of chronic diseases such as diabetes, cancer, kidney disease, and inflammatory bowel disease; increase in geriatric population requiring regular medical tests; and well-established health care infrastructure are the major factors contributing to the region’s large share of the global life science instrumentation market.

The life science instrumentation market in Asia Pacific is expected to grow at a high CAGR during the forecast period due to the increase in demand for efficient and high-speed diagnostic equipment in developing countries; and rise in research initiatives in countries such as Japan and China.

Some of the prominent players in the Life Science Instrumentation Market include:

• Danaher
• Thermo Fisher Scientific, Inc.
• Merck KGaA
• Bio-Rad Laboratories, Inc.
• Agilent Technologies, Inc.
• Illumina, Inc.
• PerkinElmer, Inc.
• BD
• Bruker
• Hitachi High-Tech Corporation

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 Life Science Instrumentation market

• Technique
  • Spectroscopy
  • Chromatography
  • Polymerase Chain Reaction
  • Next-generation Sequencing
  • Clinical Chemistry Analyzers
  • Flow Cytometry
  • Immunoassays
  • Others
• Application
  • Research Applications
  • Clinical Applications
  • Others
• End-user
  • Research Institutes
  • Pharmaceutical & Biotechnology Companies
  • Diagnostic Laboratories
  • Others

By Region

North America

• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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