Life Science Instrumentation Market Worth 64.52 Billion USD by 2021
11 Aug, 2016, 15:30 BST
PUNE, India, August 11, 2016 /PRNewswire/ --
According to a new market research report "Life Science Instrumentation Market by Technology (Chromatography, Flow Cytometer, Spectroscopy, PCR, Microscopy), End User (Pharmaceutical & Biotechnology Companies, CROs, Hospitals), Application (Research, Clinical & Diagnostic) - Global Forecast to 2021", published by MarketsandMarkets, This report studies the global market over the forecast period of 2016 to 2021. The market is expected to reach USD 64.52 Billion by 2021, at CAGR of 6.8% from 2016 to 2021.
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Browse 96 market data Tables and 89 Figures spread through 320 Pages and in-depth TOC on "Life Science Instrumentation Market"
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The report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
A number of factors such as increasing spending on pharmaceutical R&D, growing food safety concerns, availability of public and private funding for life science research, and continuous technological advancements in analytical instruments are fueling the growth of the life science instrumentation market. On the other hand, presence of alternative analytical technologies, high cost of instruments, and need for skilled professionals are some of the key factors limiting the growth of the global life science instrumentation market.
Based on the type of technology, the global life science instrumentation market is divided into thirteen segments, namely, cell counting, centrifuges, chromatography, electrophoresis, flow cytometry, immunoassays, liquid handling and robotics, microscopy, next-generation sequencing, PCR, spectroscopy, western blotting, and other technologies. The other technologies segment includes heat sterilization, colorimeter, fume hoods, incubators, laboratory balances, microplate systems, and laboratory freezers.
On the basis of end users, the global life science instrumentation market is segmented into pharmaceutical and biotechnology companies; CROs; research institutions; hospitals, clinics, and diagnostic laboratories; academic institutions; forensic science laboratories; food and agriculture industry; environmental testing industry; and other end users. On the basis of applications, the life science instrumentation market is segmented into research applications; clinical and diagnostic applications; and other applications. The other applications segment comprises food and beverage testing, environmental testing, industrial chemistry, forensics, cosmetic industry, and petrochemical industry.
As of 2016, North America held the largest share of the global life science instrumentation market, followed by Europe. However, the Asia-Pacific market is expected to register the highest CAGR of 8.6% from 2016 to 2021. Factors such as strategic expansions by key market players in emerging Asian countries; growing pharmaceutical industry in India and China; and increasing government investment in biomedical industry in China and Singapore are stimulating the growth of the life science instrumentation market in the Asia-Pacific region.
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Agilent Technologies, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), and Waters Corporation (U.S.) are some of the key players operating in the global Life Science Instrumentation Market.
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