The global life science instrumentation market size is projected to grow from an estimated USD 60.0 billion in 2020 to USD 79.9 billion by 2025, at a CAGR of 5.9% during the forecast period.
Market growth is driven largely by factors, such as increasing expenditure on research & development by pharmaceutical & biotechnology companies, growing public & private funding for life science research, and rising incidence of target diseases & genetic disorders. The emerging markets and increasing demand for analytical instruments are expected to present avenues of growth for market players.
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The research application segment was the largest contributor to the life science instrumentation market in 2019
The research application segment accounted for the largest share of the life science instrumentation application market in 2019. The large share of the research applications segment can be attributed to evolving global regulatory scenarios for research data publication in analytical instruments-based researches, an increasing number of research studies coupled with growing public-private funding in the field of genomic researches, and the ongoing trend of laboratory automation & integration of robotics.
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 technologies 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. In addition, continuous technological advancements and the increasing availability of cheaper sequencing platforms
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Asia Pacific is expected to grow at the highest CAGR in the life science instrumentation market during the forecast period
The Asia Pacific is one of the major revenue-generating regions in the life science instrumentation industry. The strategic expansions by key market players in emerging Asian countries, the growing pharmaceutical industry in India & China, and conferences, exhibitions, & meetings on analytical instruments is driving growth in the region.
Key Market Players
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).
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