The global analytical instrumentation market size is projected to reach USD 70.09 billion by 2030, registering a CAGR of 3.53% from 2023 to 2030, according to a new report by Grand View Research, Inc. Analytical laboratory instrumentation includes a broad range of instruments with the main purpose of quantitative and qualitative analysis of samples. Increasing research and development activities in the pharmaceutical and biotechnology industries and increasing adoption of analytical instrumentation for applications in precision medicine are key factors driving the industry. Governments from various countries are continuously investing in pharmaceutical R&D to support new drug development and improve healthcare in their regions.
Key industry Insights & Findings from the report:
- The instruments segment held the largest share in 2022 owing to the presence of several companies offering different types of analytical instrumentation, such as mass spectrometers, chromatographs, and sequencing systems.
- The PCR technology segment accounted for the largest share in 2022due to the benefits offered by PCR technology, such as rapid amplification, the requirement of a small amount of sample, and utility for the detection of multiple analytes in a single sample.
- The life sciences research & development application segment dominated the market in 2022 owing to the rising R&D activities by various life sciences industries to develop and manufacture novel biologics, such as monoclonal antibodies, vaccines, and therapeutic proteins.
- North America held the largest revenue share in 2022due to the presence of a well-established healthcare system and pharmaceutical industry in the region, which has created a significant demand for analytical instrumentation for clinical and research purposes.
Read 180 page market research report, “Analytical Instrumentation Market Size, Share & Trends Analysis Report By Technology (PCR, Spectroscopy), By Application (Forensic Analysis, Life Sciences R&D), By Product (Instruments, Services), And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Analytical Instrumentation Market Growth & Trends
For instance, in October 2020, the UAE government announced the provision of financial incentives to support Indian healthcare manufacturing companies with robust R&D capabilities. The announcement was made at the UAE-India Healthcare Conference 2020 and was intended to promote partnerships and collaborations between the two countries for pharmaceutical, healthcare, medical devices, and alternative medicine. Such initiatives will boost R&D activities, which, in turn, will support market growth. The COVID-19 pandemic led to a decrease in the sales of analytical instruments, such as spectroscopy and chromatography-related instrumentation, thermal analyzers, and others in 2020.
This was due to the imposition of lockdown strictures, disruption of supply chains, and a decrease in clinical trial activities during the period. However, due to the pandemic, instrumentation related to a polymerase chain reaction (PCR), microarray, and sequencing technologies saw a significant rise in demand in 2021. Several new PCR products were launched to tackle the increasing COVID-19 cases during this period. For instance, in March 2022, Roche launched its new cobas 5800 system in the U.K. to increase testing volumes and enhance the operational efficiency of COVID-19 testing. Moreover, technological advancements are also leading to a reduction in analysis time and are increasing the medical applications of analytical instrumentation.
For instance, in June 2021, Trivitron Healthcare launched its NANO H5 & NANO H110 HPLC analyzers intended for the detection of HbA1c in less than 3 minutes. These HPLC-based HbA1c analyzers can also aid in monitoring hemoglobin variants, thalassemia, and diabetes. Furthermore, key players are launching novel analytical instrumentation for microplastic analysis. For instance, in October 2022, Agilent Technologies, Inc. launched its enhanced 8700 LDIR Chemical Imaging System with Clarity 1.5 software optimized for the analysis of microplastics in environmental samples. The advances in analytical instruments include enhanced spectral acquisition, speed of analysis, transformation, and library matching.
These technological advancements can significantly aid in increasing the adoption of analytical instrumentation and fuel market growth. On the other hand, the high cost of analytical instrumentation may restrain the industry growth during the projected timeframe. Spectrometry has a high initial setup cost; the mass spectrometers, LC/MS systems, cost around USD 40,000 to USD 200,000, depending on the technology, requirement, and analysis. Such high costs may not be affordable for small- and medium-sized laboratories, which hampers the market growth. However, to overcome the cost-associated factors, various companies and organizations are undertaking initiatives to provide analytical instruments at affordable prices. For instance, Thermo Fisher Scientific offers Mass Spectrometer Price Affordability Programs in which the company helps buy mass spectrometry instruments at affordable prices.
Analytical Instrumentation Market Segmentation
Grand View Research has segmented the global analytical instrumentation market based on product, technology, application, and region:
Analytical Instrumentation Market – Product Outlook (Revenue, USD Million, 2018 – 2030)
- Instruments
- Services
- Software
Analytical Instrumentation Market – Technology Outlook (Revenue, USD Million, 2018 – 2030)
- Polymerase Chain Reaction
- Spectroscopy
- Microscopy
- Chromatography
- Flow Cytometry
- Sequencing
- Microarray
- Others
Analytical Instrumentation Market – Application Outlook (Revenue, USD Million, 2018 – 2030)
- Life Sciences Research & Development
- Clinical & Diagnostic Analysis
- Food & Beverage Analysis
- Forensic Analysis
- Environmental Testing
- Others
Analytical Instrumentation Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in Analytical Instrumentation Market
- 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
- F. Hoffmann-La Roche AG
- Sartorius AG
- Avantor, Inc.
Check out more related studies published by Grand View Research:
- Process Analytical Technology Market – The global process analytical technology market is expected to reach USD 5.0 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.2% from 2022 to 2030. The rising R&D spending by pharmaceutical companies, government investment in emerging markets, growing adherence to reliability by design (QbD) principles, increasing emphasis on improving quality and manufacturing process efficiency, and technological developments in the analytical technology industry are the main drivers in the market.
- Spectrometry Market – The global spectrometry market size is expected to reach USD 24.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. Key players offer technologically advanced spectrometry products for several healthcare applications and have collaborated with research institutes to develop novel products.
- Sample Preparation Market – The global sample preparation market size is expected to reach USD 10.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2022 to 2030. The need to develop quick, inexpensive, and environment friendly sample preparation processes has prompted the development of novel approaches that eventually help to reduce the number of extraction steps, lower solvent usage, and automate the sample preparation system, which would further fuel the market.
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