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Life Science Instrumentation Market Overview with Qualitative Analysis, Competitive Landscape & Forecast 2023

Pharmaceuticals and biotechnology companies were the largest end user of life science instrumentation market in 2015.
Rahul Gautam | 17.07.2018
Life Science Instrumentation Market © Rahul Gautam

The global life science instrumentation market is growing due to the technological advancements, increase in funding for life science research, and increasing food safety concerns. Moreover, the increasing research and development activities in pharmaceuticals and biotechnology industries are supporting the growth of the global market. Among the various technologies, next-generation sequencing segment would witness the fastest growth during the forecast period.

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Increasing compliance for hyphenated technologies and increasing collaborations between analytical instrument manufacturers and academic and research institutes are other trends witnessed in the global life science instrumentation market. However, dearth of skilled professionals and high cost of analytical instruments would hinder the growth of the global market to some extent.

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Geographically, North America accounted for the largest share in the global life science instrumentation market in 2015. Some of the major factors driving the North American market are; presence of a large number of pharmaceuticals and biotechnology companies, increasing number of research and development activities, and high compliance for advanced analytical instruments. The U.S. contributed largest revenue to the North American as well as global life science instrumentation market. The country is expected to remain the largest market for life science instrumentation globally during the forecast period.

Europe was the second largest market for life science instrumentation in 2015. The European life science instrumentation market is primarily driven by ongoing research and development activities in pharmaceutical and biotechnology industries and technological advancements in life science instrumentation. Germany accounted for the largest share in the European life science instrumentation market in 2015. The life science instrumentation market in Asia-Pacific would witness highest growth during the forecast period. The key factors leading to the highest growth in the region are growing pharmaceutical and biotechnology industries, large end user base and strategic expansion of major market players in the emerging economies of the region especially India and China.

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The key players operating in the global life science instrumentation market are Danaher Corporation, Agilent Technologies, Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Becton, Dickinson and Company, Bruker Corporation, Bio-Rad Laboratories, Inc. and Waters Corporation.