The global Life Science Instrumentation Market size is projected to reach USD 79.9 billion by 2025 from USD 60.0 billion in 2020, growing at a CAGR of 5.9% during the forecast period.
Life Science Instrumentation Market by Technology [Spectroscopy, Chromatography, Flow Cytometry, NGS, PCR,, Microscopy], Application (Research, Clinical), End User (Pharma-Biotech, Agri and Food Industry, Hospitals & Diagnostic Labs) – Global Forecasts to 2025
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The spectroscopy segment accounted for the largest share of the life science instrumentation market, by technology, in 2019
Based on technology, the market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The spectroscopy technology segment accounted for the largest share of the life science instrumentation market during the forecast period.
Next-generation sequencing (NGS) to register the highest growth over the forecast period among life science instrumentation technologies
The Next-generation sequencing (NGS) segment is expected to register the highest growth over the forecast among the life science instrumentation market over the forecast period. The significant growth of this segment is attributed to the advantages offered by NGS technologies in DNA sequencing, which substantially provides more throughput and minimizes the need for fragment-cloning methods.
North America to dominate the life science instrumentation market during the forecast period
The life science instrumentation industry is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the life science instrumentation market in 2019.
The high adoption rate of novel technologies and the large number of life science research studies conducted in this region. Moreover, stringent drug development regulations, increased funding for life science research activities, and the growing number of metabolomics research studies are some of the major factors driving the growth of the life science instrumentation sector in North America.
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Leading Companies
Agilent Technologies (US), Becton, Dickinson, and Company (US), Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), Eppendorf AG (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Horiba (Japan), Merck KGaA (Germany), PerkinElmer, Inc.. (US), Qiagen N.V. (Netherlands), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (US), and Waters Corporation (US).