Global Analytical Instrumentation Market By Product (Instruments, Services, and Software), By Technology (Polymerase Chain Reaction, Spectroscopy, Other Technologies), By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Nov 2023
- Report ID: 100738
- Number of Pages: 271
- Format:
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Report Overview
In 2022, the Global Analytical Instrumentation Market size was valued at USD 47.0 billion and is expected to reach USD 83.0 billion in 2032. This market is predicted to experience a CAGR of 6.0% between 2023 and 2032.
Analytical instrumentation plays an integral role in modern scientific research as well as industrial processes. Advanced equipment and techniques are employed to evaluate the chemical, physical, and biological characteristics of substances.
*Actual Numbers Might Vary In The Final Report
This enables researchers to identify components within a sample, define its structure and properties, and monitor its behavior and interactions. Analytical instrumentation is essential in many fields, such as pharmaceuticals, food and beverage, environmental monitoring, and material science. It helps guarantee product safety and quality while developing new materials and technologies with a greater depth of understanding.
Key Takeaways
- The Analytical Instrumentation Market is expected to reach USD 83 billion by 2032.
- During the forecast period 2023 to 2032, the Market is projected to grow at a CAGR of 6.0%.
- The instruments segment is expected to have the most significant growth, with a projected CAGR of 7.2%.
- Instruments like chromatographs, spectrometers, and mass spectrometers are commonly used in analysis.
- In 2022, the instruments segment dominated the market due to its specific function in analysis.
- Polymerase chain reaction (PCR) technology held the largest market share in 2022.
- In 2022, North America had the highest market revenue share of 45%.
- Technological advancements are rapidly improving the accuracy and speed of analysis.
- Industries like pharmaceuticals, food & beverage, and environmental monitoring rely on analytical instruments.
- Government regulations are becoming stricter, driving up demand for analytical instrumentation.
- Research and development activities in pharmaceuticals, biotechnology, and nanotechnology require analytical instruments.
- Increased investment in healthcare infrastructure in developing countries is driving demand for analytical instruments.
- The software segment is expected to have the highest CAGR of 7.5%.
- The life sciences R&D segment accounted for 47% market share in 2022.
Driving Factors
Rising Demand for Analytical Instruments in the Pharmaceutical and Biotechnology Industries
The analytical instrumentation market has been growing rapidly in past years and is driven by various key factors. The rising demand for analytical instruments in the pharmaceutical and biotechnology industries are major drivers where they are used to develop new drugs and therapies. The growth of the food and beverage industry drives the market where analytical instruments are used to ensure food safety and quality.
Furthermore, the rise of environmental regulations and concerns about pollution have been responsible for an increased need for analytical instrumentation in the environmental monitoring and testing sector. Also, technological advancements such as the development of portable and handheld instruments are driving growth in the analytical instrumentation market as they offer greater convenience and flexibility to users.
Restraining Factors
High Cost and Need of Expertise
Though the analytical instrumentation market is on the rise, several challenges could hinder its expansion. One major barrier is the high cost of instruments which may prove prohibitive for smaller businesses and laboratories with limited budgets. Furthermore, some analytical instruments can be complex to operate and maintain, necessitating specialized training and expertise.
Another potential constraint is the regulatory environment; changes in the regulations or standards for these instruments could impact demand for certain types of analytical instrumentation. Competition in the market can be fierce as many companies offer similar products leading to price wars and pressure on profit margins.
By Product Analysis
The Instruments Segment is Dominant
Based on product, the market for analytical instrumentation is segmented into instruments, services, and software. Among these products, the instruments segment is the most lucrative in the global analytical instrumentation market with a projected CAGR of 7.2% in the forecasted period. The total revenue share of the instruments segment is 55% in 2022. The instruments used in analytical instrumentation are distinct and specialized which is designed to perform a specific function in the analysis of substances.
Chromatographs, spectrometers, and mass spectrometers are some instruments mainly used to divide and identify components in a sample, examine its properties, and measure its composition. However, the software segment is expected to register the highest CAGR of 7.5% during the forecast period. Software is widely used for data analysis and interpretation of outcomes in analytical practices in several areas such as hypothetical research and medical diagnosis.
By Technology Analysis
Polymerase Chain Reaction (PCR) Technology is Dominant
Based on technology, the market is classified into a polymerase chain reaction, spectroscopy, microscopy, chromatography, flow cytometry, sequencing, microarray, and other technologies. The polymerase chain reaction technology held the largest market share of 23.9% in the global analytical instrumentation market in 2022 and is forecasted to be the most lucrative segment with a projected CAGR of 7.4% in the projected period. The technology delivers various advantages such as fast amplification, the necessity of a less quantity of sample, and utility for the exposure of various diseases.
It allows a higher level of amplification of specific orders and more delicate detection in less time as compared to other traditional methods making the procedure significantly useful for basic and industrial purposes. The sequencing segment is expected to register a higher CAGR of 7.6% over the forecast period due to its growing usage to evaluate the sequence of nucleotides in small targeted overall genomes or genomic regions.
By Application Analysis
The Life Sciences R&D Segment is Dominant
Based on application, the market is segmented into life sciences R&D, clinical & diagnostic analysis, food & beverage analysis, forensic analysis, environmental testing, and other applications. From these applications, the life sciences research & development segment held the largest market share of 47% in the global analytical instrumentation market in 2022, with a projected CAGR of 6.9% during the estimated period.
The rising occurrence of chronic diseases is contributing to the increase in R&D activities through several life sciences industries to develop and produce novel biologics such as spectroscopy and UV-Vis spectroscopy used in the classification of antibodies. The clinical & diagnostic analysis segment is expected to grow at the highest CAGR of 7.3% during the forecast period. The growing cases of cancer and chronic diseases have resulted in huge demand for diagnostic tests and also increase the requirement for analytical instrumentation products such as flow cytometers for clinical testing.
Key Market Segments
By Product
- Instruments
- Services
- Software
By Technology
- Polymerase Chain Reaction
- Spectroscopy
- Microscopy
- Chromatography
- Flow Cytometry
- Sequencing
- Microarray
- Other Technologies
By Application
- Life Sciences R&D
- Clinical & Diagnostic Analysis
- Food & Beverage Analysis
- Forensic Analysis
- Environmental Testing
- Other Applications
Growth Opportunity
Rising Demand for Analytical Instruments in Emerging Markets
The analytical instrumentation market presents numerous prospects for growth and innovation. One major opportunity lies in the rising demand for analytical instruments in emerging markets, particularly Asia-Pacific and Latin America, where rapid industrialization and urbanization are fueling the demand for new technologies and solutions.
Furthermore, the development of new analytical technologies and applications such as nanotechnology and proteomics, presents companies with new chances to enter the market and create innovative products. The explosion of big data analytics and the need for real-time monitoring and analysis are driving demand for advanced analytical instruments and software. Also, the growing emphasis on sustainability and environmental protection is creating new applications for analytical instrumentation in areas such as air/water quality monitoring and renewable energy development.
Latest Trends
Increasing Demand for Personalized Treatments
The analytical instrumentation market is experiencing several key trends that are revolutionizing the industry and stimulating innovation. One trend in medicine and healthcare is the increasing demand for personalized treatments which has propelled the development of advanced analytical technologies in drug discovery, diagnostics, and monitoring. Another trend is the increasing function of automation and artificial intelligence in analytical instruments and software which improve efficiency and accuracy while excluding human intervention.
Also, the move towards greener and more sustainable practices has driven the development of new analytical instruments and methods for environmental monitoring and analysis. Furthermore, the increasing adoption of data analytics and the Internet of Things (IoT) provides better opportunities for analytical instruments to offer real-time monitoring and analysis of various processes from manufacturing to environmental controlling.
Regional Analysis
North America is Dominant Region in the Global Analytical Instrumentation Market
North America holds the largest market share of 45% of the total revenue in 2022 and is anticipated to be the most dominant region in the global analytical instrumentation market with a projected CAGR of 7.2% during the forecast period. The regional market for analytical instrumentation is driven by the existence of various leading organizations and a huge demand from the pharmaceutical and biotechnology industries.
Whereas, the Asia-Pacific accounts for the fastest growth in the global analytical instrumentation market with a projected CAGR of 7.6% during the forecast period. As the region showcases rapid industrialization & urbanization, the increasing demand for new technologies and solutions in industries such as healthcare, food and beverage, and environmental monitoring are contributing to market growth.
Key Regions and Countries
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Players Analysis
Emerging key players are employing various strategic tactics to expand their businesses into global markets. Companies are investing heavily in research and development to release more in-depth product portfolios that meet the increasing demand for analytical instruments. To boost global revenues, analytical instrumentation market companies are employing merger and acquisition tactics.
Furthermore, they’re expanding their operations by offering several facilities like customized and personalized products, operating in niche segments, and adopting technological change catering to different customer requirements.
Top Key Players
- Thermo Fisher Scientific, Inc.
- Waters Corp.
- Shimadzu Corp.
- Danaher
- Agilent Technologies, Inc.
- Bruker Corp.
- PerkinElmer, Inc.
- Mettler Toledo
- Zeiss Group
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
- Eppendorf SE
- Hoffmann-La Roche AG
- Sartorius AG
- Avantor, Inc.
- Other Key Players
Recent Developments
- In 2022, Thermo Fisher Scientific revealed the launch of its new Vanquish Core HPCL System which is proposed to give high-performance liquid chromatography analysis for a huge range of applications.
- In 2021, Agilent Technologies revealed the release of its new LC/MS system, the Ultivo Triple Quadrupole LC/MS which is designed to serve high sensitivity and robustness for a variety of analytical procedures.
- In 2021, Waters Corp. revealed the release of its new ACQUITY RDa Mass Detector which is designed to offer quick and precise detection of trace-level impurities in pharmaceuticals and other complex mixtures.
Report Scope
Report Features Description Market Value (2022) USD 47.0 Billion Forecast Revenue (2032) USD 83.0 Billion CAGR (2023-2032) 6.0% Base Year for Estimation 2022 Historic Period 2016-2021 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Product (Instruments, Services, and Software), By Technology (Polymerase Chain Reaction, Spectroscopy, Microscopy, Chromatography, Flow Cytometry, Sequencing, Microarray, Other Technologies), By Application (Life Sciences R&D, Clinical & Diagnostic Analysis, Food & Beverage Analysis, Forensic Analysis, Environmental Testing, Other Applications) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Thermo Fisher Scientific, Inc., Waters Corp., Shimadzu Corp., Danaher, Agilent Technologies, Inc., Bruker Corp., PerkinElmer, Inc., Mettler Toledo, Zeiss Group, Bio-Rad Laboratories, Inc., Illumina, Inc., Eppendorf SEF., Hoffmann-La Roche AG, Sartorius AG, Avantor, Inc., Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What will be the market size for Analytical Instrumentation Market in 2032?In 2032, the Analytical Instrumentation Market will reach USD 83.0 billion.
What CAGR is projected for the Analytical Instrumentation Market?The Analytical Instrumentation Market is expected to grow at 6.0% CAGR (2023-2032).
Name the major industry players in the Analytical Instrumentation Market.Thermo Fisher Scientific, Inc., Waters Corp., Shimadzu Corp., Danaher, Agilent Technologies, Inc., Bruker Corp., PerkinElmer, Inc., Mettler Toledo, Zeiss Group and Other Key Players are the main vendors in this market.
List the segments encompassed in this report on the Analytical Instrumentation Market?Market.US has segmented the Analytical Instrumentation Market Market by geographic (North America, Europe, APAC, South America, and MEA). By Product, market has been segmented into Instruments, Services and Software. By Technology, the market has been further divided into, Polymerase Chain Reaction, Spectroscopy, Microscopy, Chromatography, Flow Cytometry, Sequencing, Microarray and Other Technologies.
Analytical Instrumentation MarketPublished date: Nov 2023add_shopping_cartBuy Now get_appDownload Sample - Thermo Fisher Scientific, Inc.
- Waters Corp.
- Shimadzu Corp.
- Danaher Corporation Company Profile
- Agilent Technologies, Inc.
- Bruker Corp. Company Profile
- PerkinElmer, Inc.
- Mettler Toledo
- Zeiss Group
- Bio-Rad Laboratories, Inc. Company Profile
- Illumina, Inc.
- Eppendorf SE
- Hoffmann-La Roche AG
- Sartorius AG
- Avantor, Inc.
- Other Key Players
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