Life Science Instrumentation Market, Trends, Size, Share, Development and Forecast to 2022
The global life science instrumentation market is growing due to the technological advancements, increase in funding for life science research, and increasing food safety concerns. Moreover, the increasing research and development activities in pharmaceuticals and biotechnology industries are supporting the growth of the global market. Among the various technologies, next-generation sequencing segment would witness the fastest growth during the forecast period. Development of advanced sequencing platforms, increasing application areas of next-generation sequencing would have high positive impact on the growth of the life science instrumentation market for next generation sequencing. Pharmaceuticals and biotechnology companies were the largest end user of life science instrumentation market in 2015.
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The increasing demand for analytical instruments, growing research proteomics research activities, and high growth in emerging economies offer ample growth opportunities in life science instrumentation market. Major analytical instrument manufacturers are focusing for the development of miniaturized instruments, which is the key trend witnessed in the global market. Increasing compliance for hyphenated technologies and increasing collaborations between analytical instrument manufacturers and academic and research institutes are other trends witnessed in the global life science instrumentation market. However, dearth of skilled professionals and high cost of analytical instruments would hinder the growth of the global market to some extent.
Europe was the second largest market for life science instrumentation in 2015. The European life science instrumentation market is primarily driven by ongoing research and development activities in pharmaceutical and biotechnology industries and technological advancements in life science instrumentation. Germany accounted for the largest share in the European life science instrumentation market in 2015. The life science instrumentation market in Asia-Pacific would witness highest growth during the forecast period. The key factors leading to the highest growth in the region are growing pharmaceutical and biotechnology industries, large end user base and strategic expansion of major market players in the emerging economies of the region especially India and China.
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The key players operating in the global life science instrumentation market are Danaher Corporation, Agilent Technologies, Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Becton, Dickinson and Company, Bruker Corporation, Bio-Rad Laboratories, Inc. and Waters Corporation.
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