Life science and chemical instrumentation market to register a healthy CAGR for the forecast period till 2025 by Future Market Insights (FMI), provider of syndicated research reports, custom research reports, and consulting services.
At present, North America leads the life science and chemical instrumentation market in terms of market share followed by Europe. The market of Europe has reached saturation but has growth potential for lab automation segment.
Asia-Pacific is demonstrating high market growth due to increasing outsourcing activities in life science sector thereby leading to growth in demand for life science and chemical instruments. Singapore is generating large amount of revenue for this market as many life science companies are establishing their business in Singapore due to tax incentives provided by the domestic government.
Life science and chemical instruments have major application in research and development centers, educational institutes andclinical laboratories. The nature of life science and chemical instruments are dependent upon principal diagnosis technologies. Based on the areas the technologies, the life science and chemical instruments market can be categorized as follows:
- DNA sequencers and amplifiers
- Laboratory automation
- Flow cytometry
Chromatography has applications in several industries such as biotechnology, pharmaceuticals, chemicals, clinical laboratories, forensic technologies and environment. Further growth in the areas of applications of chromatography is expected to drive the chromatography instruments market. Rise in demand for UHPLC chromatography solutions is expected to be the major growth facilitator for this market segment.
Some of the major market players in the chromatography instruments segment include Shimadzu, Agilent, Waters Corporation. Broad product portfolio of Agilent technologies in the gas and liquid chromatography segments has led the company to be the leader in the chromatography market.
Other than these instruments, life science and chemical instruments that are extensively used in the research and development centers and laboratories include laboratory balances, incubators, centrifuges and fume hoods.
Life science and chemical instrumentation market is growing at faster pace due to increasing requirement of these instruments in biotechnology and pharmaceutical industries. Increased funding by governments and corporate sectors in research and development, advances in life science and research, emergence of proteomics and innovations with human genome mapping has also increased the demand for the instruments in research and development laboratories and academic institutions. Moreover, growth in the number of biotechnology companies worldwide and developments in research in life science have thus contributed to the growth of this market.
Life science and chemical instrumentation consist of large number of market players, major among them include Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Life Technologies, Caliper Life Sciences, Abbott Laboratories, Siemens Healthcare Diagnostics, Hitachi High-technologies Corporation, Perkin Elmer, GE Healthcare and Roche Diagnostics, Inc.