Global Life Science and Chemical Instrumentation Market: Overview
With investments in clinical research progressively rising, spending on instrumentation used for analytical chemistry is expected to rise continually as well. Analytical chemistry has proven useful in studying the composition of materials to find new applications for them or to modify their composition as desired. This end cannot possibly be met without the use of proper life science and chemical instrumentation. The global market for life sciences and chemical instrumentation is thus looking at a promising future ahead. TMR projects a positive outlook for the global life science and chemical instrumentation market through the forecast period. The market is expected to register a high single-digit CAGR.
From determining how safe a food sample is to analyzing DNA to discovering new drugs for chronic diseases, the use of life science and chemical instrumentation are myriad. The market is thus expected to fare well thanks to its many end users and application areas. This aspect will keep growth a constant in the life science and chemical instrumentation market.
The report on the global life science and chemical instrumentation market evaluates and prioritizes the factors that will influence its growth over the report’s forecast period. By meticulously segmenting the market on the basis of type of technology, end use, application, and geography, TMR’s analysts are able to dive deep into the present dynamics of the market and emerge with data that can aid prudent decisions. A holistic overview of the prevailing competitive environment in the market makes this report a valuable tool for tracking the strategies that competitors are expected to adopt.
Global Life Science and Chemical Instrumentation Market: Drivers and Restraints
With governments across the world setting up incubation programs and special economic zones for companies in fields such as biotechnology and pure chemistry, the demand for life sciences and chemical instrumentation is expected to continually rise. Moreover, regulatory authorities in emerging countries such as Brazil, India, China, and Russia are now watching the F&B and pharma industries more closely in the wake of food scandals and pharmaceutical product recalls. This will compel companies to adhere to the highest quality standards, which will indirectly lead to higher sales of life science and chemical instrumentation products.
The cost of developing and marketing such instruments, however, can be a stumbling block for many market players. With companies naturally passing on costs to the consumers, the latter may be prompted to find more affordable alternatives, thwarting the growth plans of market players.
Global Life Science and Chemical Instrumentation Market: Segmentation
The most common uses of life science and chemical instrumentation market are seen in healthcare research agencies, contract research organizations, pharmaceutical and biotech entities, clinical and diagnostic laboratories, and academic research institutions. It is primarily the diagnosis technologies in question that determine the nature of chemical and life science instrumentation to be used.
Based on the area of usage, the life science and chemical instrumentation market can be segmented thus: Electrophoresis, chromatography, laboratory automation, DNA sequencers and amplifiers, flow cytometry, spectrometry, and microarrays. The demand for DNA amplifiers and sequencers is expected to show an upswing on the back of rising investments in biotechnology, which have dramatically risen in the post-recession phase.
The outlook for the chromatography segment, too, is positive. This can be ascribed to the growing uses of chromatography-coupled with a remarkable spike in UHPLC chromatography-across diverse verticals. Companies such as Agilent, Shimadzu, and Waters Corporation are at the forefront of innovation, enabling them to capture a larger section of the market in this space. The report also expects a healthy upswing in the demand for instruments such as fume hoods, laboratory balances, and centrifuges.
The applications of life science and chemical instrumentation devices include, but are not limited to: Forensic technologies, biotechnology, environment, agriculture, chemicals, food and beverage, and pharmaceuticals. The biotech and pharmaceutical sectors will be the growth engine for life science and chemical instrumentation market by application. Intensive research programs in developed nations will indirectly fuel sales of life science and chemical instrumentation. The trend is only just beginning to take shape in developing nations, and could soon be a high-impact driver.
By geography, the global life science and chemical instrumentation market has been divided into: North America, Asia Pacific, Europe, MENA, and Rest of the World.
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Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.