NEW
YORK, July 31, 2024 /PRNewswire/ -- The
global scientific instrument market size is estimated to
grow by USD 19.96 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 5.45% during the forecast period. Increasing
investments in drug discovery is driving market
growth, with a trend towards growing adoption of portable
scientific instruments. However, lack of trained professionals
poses a challenge. Key market players include ABB Ltd., ACMAS
Technologies Pvt. Ltd., Agilent Technologies Inc., Alcon
Scientific, Bio Rad Laboratories Inc., Bruker Corp., Carl Zeiss AG,
Danaher Corp., Hitachi Ltd., HORIBA Ltd., Labappara, M.K.Scientific
Instruments, MAC, Merck KGaA, Oxford Instruments plc, Shimadzu
Corp., SM Scientific Instruments Pvt. Ltd., Thermo Fisher
Scientific Inc., Thorlabs Inc., and Waters Corp..
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Scientific
Instrument Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.45%
|
Market growth
2024-2028
|
USD 19966.9
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.77
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
34%
|
Key
countries
|
US, China, Germany, UK,
and India
|
Key companies
profiled
|
ABB Ltd., ACMAS
Technologies Pvt. Ltd., Agilent Technologies Inc., Alcon
Scientific, Bio Rad Laboratories Inc., Bruker Corp., Carl Zeiss AG,
Danaher Corp., Hitachi Ltd., HORIBA Ltd., Labappara, M.K.Scientific
Instruments, MAC, Merck KGaA, Oxford Instruments plc, Shimadzu
Corp., SM Scientific Instruments Pvt. Ltd., Thermo Fisher
Scientific Inc., Thorlabs Inc., and Waters Corp.
|
Market Driver
The scientific instrument market is experiencing a significant
shift towards miniaturized and portable equipment due to the need
for space efficiency and convenience in laboratory settings.
Vendors are redesigning industry-standard instruments using
miniaturization technologies such as fluidics and integrated
printed circuit boards (PCBs) to create compact versions of
laboratory equipment. Traditional scientific instruments often have
complex wiring and components at the bottom and rear, but
miniaturization allows for the removal of these elements, making
the equipment more compact. Advancements in sensors and wireless
connectivity further enable the creation of portable instruments,
freeing them from the need for complex wires and cables.
Integration of multiple laboratory functions and features onto a
single chip through very large-scale integration technologies also
saves money, space, and manpower for both vendors and end-users.
Miniaturization and nanotechnology have revolutionized
point-of-care testing and led to the manufacturing of portable
equipment like miniaturized centrifuges from companies such as
Bio-Rad Laboratories, Thermo Fisher Scientific, and Merck. These
portable analyzers offer quick decision-making capabilities with
advanced technologies like X-ray fluorescence (XRF), near-infrared
(NIR), Raman, and Fourier transform infrared spectroscopy (FTIR),
and an easy-to-use interface. The benefits of miniaturized and
portable scientific instruments are driving their demand, and this
trend is expected to continue during the forecast period.
The Scientific Instruments market is thriving, driven by trends
in various sectors. Product microscopes, spectrometers, X-ray
diffraction, thermal analyzers, and other lab equipment are in high
demand. Handheld and portable instruments are popular for field
research in healthcare companies, retail sales, and online sales.
Biotechnology, materials science, environmental science, private
organizations, and academic institutions are major buyers. Electron
microscopes, mass spectrometers, DNA sequencers, particle
accelerators, and molecular analyzers are key tools for precision
medicine, genetic sequencing, drug development, and molecular
interactions. Biomarker detection systems, drug safety, and
automated solutions are essential for disease mechanisms research
in genomics and proteomics. Pharmaceutical companies, analytical
instruments manufacturers, startups, and research institutions are
investing heavily in this sector. Trends include portable
instruments, data analysis, drug safety, and solutions for chronic
and target diseases.
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Market Challenges
- The scientific instrument market is experiencing significant
technological advancements at an accelerated pace. Keeping
up-to-date with these changes and maintaining a workforce with
advanced technical skills is a challenge for end-users due to the
high costs of training. Calibration of scientific instruments is
crucial for accurate results, yet line inspectors may not possess
the necessary technical capabilities. Additionally, interpreting
data from these instruments and effectively handling accompanying
software requires specialized knowledge. The scarcity of
professionals with both medical expertise and software proficiency,
coupled with frequent software upgrades and increasing instrument
features, poses a critical challenge to the growth of the global
scientific instrument market.
- The Scientific Instrument Market faces several challenges in
various sectors. In the healthcare industry, accurate measurement
and analysis of urine, tissue, glucose levels, cholesterol levels,
and blood cell counts are crucial for medical diagnosis and
treatment planning. Infectious diseases, cancer, and chronic
conditions like diabetes, respiratory diseases, and cardiovascular
diseases require advanced diagnostic tools. Clinical laboratories
and hospitals rely on clinical analyzers for quick and accurate
results. The biotech and pharmaceutical research sectors need
instruments for measuring physical quantities, remodeling, and
theoretical research. In the pharmaceutical sectors, verifying the
efficacy of therapeutics is essential. Public health emergencies
require rapid diagnostic tools for outpatients and inpatients. The
research segment focuses on developing instruments for mutated
diseases and neurological diseases. Laboratory automation is a key
trend to improve efficiency and reduce errors. Overall, meeting the
demands of these sectors while ensuring accuracy, reliability, and
affordability is a significant challenge for the Scientific
Instrument Market.
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Segment Overview
This scientific instrument market report extensively covers
market segmentation by
- Product
- 1.1 Laboratory analytical instruments and consumables
- 1.2 Measuring and monitoring devices
- End-user
- 2.1 Pharmaceutical and biotechnology companies
- 2.2 Hospitals and diagnostic laboratories
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Laboratory analytical instruments and consumables-
The global scientific instrument market's laboratory analytical
instruments and consumables segment encompasses mass spectrometers,
chromatographs, and other tools that assist in diagnosing and
analyzing specific infections. These instruments are extensively
utilized in life science research, particularly in metabolomics,
genomics, and proteomics, employing spectroscopy, mass
spectrometry, electrochemical analysis, thermal analysis,
separation analysis, and microscopy. The pharmaceutical industry is
witnessing a growing demand for Raman spectroscopy to develop new
drugs. Raman spectroscopy employs spectrometers and the
spectroscopic technique to uncover the chemical structure,
concentration, identity, and behavior of molecules in various
forms. In pharmaceuticals, Raman spectroscopy is utilized for drug
discovery by defining the structural composition of therapeutic
drug agents and investigating intermolecular interactions.
Post-approval, it ensures the correct compound's manufacturing and
guards against hazardous substances from packaging. Consumables,
including funnels, flasks, syringes, and needles, are crucial for
drug development and significantly contribute to market expansion
due to recurring purchases for diverse testing purposes. Reagents
and buffers are among the essential consumables, with their
repeated usage in scientific tests and experiments. The variety of
reagents required for different testing objectives presents an
opportunity for consumables manufacturers to cater to end-users'
diverse needs. Technological advances in reaction buffers have
resulted in heightened stability and longevity for reagents and
enzymes, driving the growth of the laboratory analytical
instruments and consumables segment and the market as a whole.
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analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The scientific instrument market encompasses a wide range of
tools used for measuring, analyzing, verifying, and understanding
physical quantities in various sectors. Key product categories
include microscopes for observing and examining samples at the
microscopic level, spectrometers for identifying and quantifying
materials based on their light interaction, X-ray diffraction for
determining crystal structures, and thermal analyzers for studying
material properties under temperature changes. Handheld and
benchtop instruments, as well as portable versions, cater to field
research and on-site analysis. Laboratories in pharmaceutical
sectors, government, universities, and research institutions
utilize these instruments for drug safety, automated solutions, and
data analysis. In addition, clinical analyzers are essential in
hospitals for public health emergencies and diagnostic purposes.
Theoretical research and remodeling also benefit from these tools,
ensuring accuracy and advancing scientific knowledge.
Market Research Overview
The scientific instrument market encompasses a wide range of
products designed for measuring, analyzing, and verifying physical
quantities in various fields. Key product categories include
Microscopes (Product and Electron), Spectrometers (Handheld,
Benchtop, and Portable), X-ray Diffraction, Thermal Analyzers, and
various analyzers like Chromatographs and Particle Analyzers. These
instruments find applications in laboratories, healthcare
companies, retail and online sales, biotechnology, materials
science, environmental science, private organizations, academic
institutions, and pharmaceutical companies. Areas of focus include
biomarker detection systems, drug development, molecular
interactions, biological processes, disease mechanisms, genomics
and proteomics, drug discovery, personalized healthcare, and
quality control. Additionally, scientific instruments are used in
aerospace engineering for cameras, celestial bodies, and planetary
exploration, as well as in avionics technology and environmental
monitoring. In the healthcare sector, instruments are used for
medical diagnosis, treatment planning, infectious diseases,
clinical laboratories, and cancer research. In the pharmaceutical
sector, instruments play a crucial role in drug safety, automated
solutions, data analysis, and pharmaceutical research. The market
also includes startups, focusing on areas like drug safety,
precision medicine, and automation. Instruments are used in various
sectors like chromatographs, particle analyzers, scientific
clinical analyzers, and for analyzing biological samples like
blood, urine, and tissue. Instruments are used to measure and
analyze glucose levels, cholesterol levels, and blood cell counts,
among other physical quantities. The market also includes
instruments for remodeling, theoretical research, and measuring
various physical quantities. In summary, the scientific instrument
market caters to a diverse range of applications and industries,
enabling advancements in fields like biotechnology, healthcare,
pharmaceuticals, and aerospace engineering.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Laboratory Analytical Instruments And Consumables
- Measuring And Monitoring Devices
- End-user
-
- Pharmaceutical And Biotechnology Companies
- Hospitals And Diagnostic Laboratories
- Others
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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