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Life Science Instrumentation Market 2021 Future Set to Massive Growth with High CAGR value




(PharmaNewsWire.Com, November 18, 2021 ) 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.

In addition, continuous technological advancements and the increasing availability of cheaper sequencing platforms is expected to fuel the growth of life science instrumentation market during the forecast period.

Molecular spectrometry accounted for the largest share of the spectrometry technologies market in 2019. The large share could be attributed to the wide application of this technology and the presence of stringent regulatory guidelines for drug development and safety.

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.


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.

An analysis of the market developments between 2017 and 2020 revealed that several growth strategies such as product launches enhancements, partnerships, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the life science instrumentation market. Among these business strategies, product approval launches, acquisition, partnerships, and agreements were the most widely adopted growth strategies by market players.

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Thermo Fisher launched several instruments, such as the Biosystems QuantStudio 6 and 7 Pro Real-Time PCR Systems (April 2019), the Vanquish Duo UHPLC system, Scientific Q Exactive UHMR mass spectrometer, and Ion GeneStudio S5 Series next-generation sequencing systems (February 2018), and ISQ EC Single Quadrupole mass spectrometer (June 2017).

The company further offers its products across major customer categories, such as clinical laboratories, research academic institutes, diagnostic laboratories, and hospitals. Thermo Fisher is expected to witness sustainable growth during the forecast period with its broad and technologically advanced product portfolio, wide geographic reach, and collaborations, agreements with other smaller market players.

#Life Science Instrumentation Market #Life Science Instrumentation #Life Science #Instrumentation

MarketsandMarkets

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


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