Biotechnology Instruments Market Size Worth $106.75 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Nov. 2, 2021 /PRNewswire/ -- The global biotechnology instruments market size is expected to reach USD 106.75 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.66% from 2021 to 2028. The market is collectively driven by technological advancements, advantages offered by laser therapy, growing prevalence of target diseases, rising geriatric population, and increasing demand for Point-Of-Care (POC) tests and devices.

Key Insights & Findings:

• By product, the life science consumables segment accounted for the largest share in 2020 and is expected to dominate the market from 2021 to 2028. The COVID-19 pandemic has resulted in a significant revenue contribution to this segment in 2020
• More than 300 Real-time Polymerase Chain Reactions (RT-PCRs) are being developed for the detection of SARS-COV-2 infection, however, only 7 to 10 kits have been commercialized for pooled sample testing against COVID-19
• The lab automation instruments product segment is expected to witness growth in the years to come owing to the rise in demand for automated sample preparation instruments for clinical genomics laboratories
• Based on end use, the hospitals and healthcare facilities segment is expected to dominate the market throughout the forecast period owing to an increase in demand for in vitro diagnostic (IVD) point-of-care devices in clinical laboratories and hospitals
• The growing demand for rapid drug development and the commercialization of new drug molecules for the treatment of different diseases drive the need for sophisticated instruments in the pharmaceutical and biotechnology companies end-use segment
• North America held the largest revenue share in 2020 owing to the higher penetration of genomic, proteomic, and cell biology-based platforms in the region

Read 227 page market research report, "Biotechnology Instruments Market Size, Share & Trends Analysis Report By Product (Life Science Consumables, IVD Instruments, Medical Lasers, Lab Automation Instruments), By End-use, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Rising demand for POC devices in the home and other healthcare settings to cater to the elderly population and increasing government initiatives to shorten hospital stays by establishing outpatient care models are expected to drive the demand for POC diagnostics over the next six years. The growth in the biotechnology industry can also be attributed to several factors such as the launch of new and innovative products, agreements, acquisitions, technological advancements, and increasing adoption in various applications.

For instance, in January 2021, Sartorius Stedim Biotech acquired Novasep's chromatography process equipment division. Its chromatography product portfolio consists of intensified chromatography systems and resin-based batch for multi-use applications, such as oligonucleotides, small molecules, insulin, and peptides.

In addition, companies are launching new products for facilitating rapid downstream processing. For instance, in February 2021, Waters Corporation launched a next-generation liquid chromatography system-Waters ACQUITY PREMIER Solution. It features the company's breakthrough MaxPeak High-performance Surface technology. The advantages of the system include the elimination of time-consuming steps and improvement in analytical data quality.

Grand View Research has segmented the global biotechnology instruments market on the basis of product, end-use, and region:

• Biotechnology Instruments Product Outlook (Revenue, USD Million, 2017 - 2028)
• Lab Automation Instruments
• Proteomics
• Genomics
• Sequencing
• Spatial Cell Analysis
• Others
• Life Science Consumables
• IVD Instruments
• Medical Lasers
• Therapeutics
• Ophthalmic
• Ablation
• Biotechnology Instruments End-use Outlook (Revenue, USD Million, 2017 - 2028)
• Government & Academic Institutes
• Pharmaceutical & Biotechnology Companies
• Hospitals & Healthcare Facilities
• Others
• Biotechnology Instruments Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• MEA
• South Africa
• Saudi Arabia

List of Key Players of Biotechnology Instruments Market

• Agilent Technologies
• Alcon, Inc.
• AngioDynamics
• Becton, Dickinson, and Company
• BioMerieux SA
• Bio-Rad Laboratories
• BioTek Instruments, Inc.
• Candela Medical
• Cynosure, LLC
• Danaher Corporation
• Endress+Hauser (Analytik Jena GmbH)
• F. Hoffmann-La Roche Ltd.
• IIlumina Inc.
• IRIDEX
• Lumenis
• Merck KGaA
• Novanta, Inc.
• Perkin Elmer, Inc.
• QIAGEN
• Siemens Healthineers
• Tecan Group AG
• Thermo Fisher Scientific, Inc.
• Waters Corporation
• Zimmer MedizinSysteme

Check out more studies related to biotechnology instruments, conducted by Grand View Research:

• Proteomics Market – The global proteomics market was valued at over USD 11.8 billion in 2015. The growing incidence of target diseases such as cancer, diabetes, and cardiovascular is expected to be the major factor for market growth.
• Genomics Market – The global genomics market size was valued at USD 20.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.35% from 2021 to 2028. The scientific community has tried to address genetic susceptibility and severity to SARS-CoV-2 infection by combining research efforts using existing genetic databases.
• Next Generation Sequencing Market – The global next generation sequencing market size was valued at USD 3.99 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.4% during the forecast period. Genome sequencing has been used to understand the spread of Covid-19 and has the potential to understand the impact of interventions and help guide treatments in the future.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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