Life science instrumentation is the largest category of the instrumentation industry. It consists of 12 technology segments, with an ever-growing range of applications that offer significant opportunities for discovery, innovation, and expansion, while also serving niche research markets. Nucleic acid-based analysis remains at the forefront of research, as does research into gene expression, proteins and cells.
The Market for Life Science Instrumentation 2019-2024 examines in detail the following segments of the market:
- DNA Sequencing
- Nucleic Acid Amplification (PCR)
- Flow Cytometry
- In Vivo Animal Imaging
- Capillary Electrophoresis
- High Content Analysis/Cell Imaging Systems
- Automated Synthesizers
- SPR/Label-Free Detection
- Cell Counters
We project the overall market for life science instrumentation will grow at a robust CAGR of 6.4% over the next five years, led by demand for genomics technologies. Our estimates of market size and growth include consumables that constitute a major portion of the overall market.
Academia is the leading source of demand for life science instrumentation, generating 31% of total revenue in 2019. It is followed by the combined segments of pharmaceutical and biotechnology companies. The hospital & clinical market is quickly growing as sophisticated diagnostics labs are increasingly incorporating recent life science instrumentation developments.
North America continues to be the leading region, accounting for nearly half of the global market. Strong growth is expected for the region’s pharma/bio sector. China is expected to see strong growth but, the emergence of novel coronavirus COVID-19 has disrupted the Chinese economy, and shifted research focus and resources to the disease. This may result in a spike in demand for some life science technologies in the first year or two of the forecast.
Strategic alliances and acquisitions play a significant role in the changing market dynamics of the life science instrumentation industry, with big vendors like Thermo Fisher and Danaher and its subsidiaries dominating significant portions of the market. Hundreds of other companies with focused market strategies compete for market share.
The Market for Life Science Instrumentation 2019-2024 from Strategic Directions International projects the size and growth of the market, demand by product, region and application. The report also provides an overview of the competitive situation and market focus of the major competitors.