Increasing Demand For Life Science Instrumentation Market

Market growth is driven largely by factors, such as increasing expenditure on research & development by pharmaceutical & biotechnology companies, growing public & private funding for life science research, and rising incidence of target diseases & genetic disorders. The emerging markets and increasing demand for analytical instruments are expected to present avenues of growth for market players.

The life science instrumentation market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The next-generation sequencing (NGS) segment is expected to grow at the highest CAGR during the forecast period, attributed to the advantages offered by NGS technologies in DNA sequencing, which substantially provides more throughput and minimizes the need for fragment-cloning methods.

In addition, continuous technological advancements and the increasing availability of cheaper sequencing platforms is expected to fuel the growth of life science instrumentation market during the forecast period.

The large share of the research applications segment can be attributed to evolving global regulatory scenarios for research data publication in analytical instruments-based researches, an increasing number of research studies coupled with growing public-private funding in the field of genomic researches, and the ongoing trend of laboratory automation & integration of robotics.

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The strategic expansions by key market players in emerging Asian countries, the growing pharmaceutical industry in India & China, and conferences, exhibitions, & meetings on analytical instruments is driving growth in the region.

Key Market Players

The vendors operating in the global life science instrumentation market include Agilent Technologies (US), Becton, Dickinson, and Company (US), Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), Eppendorf AG (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Horiba (Japan), Merck KGaA (Germany), PerkinElmer, Inc. (US), Qiagen N.V. (Netherlands), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (US), and Waters Corporation (US).

An analysis of the market developments between 2017 and 2020 revealed that several growth strategies such as product launches & enhancements, partnerships, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the life science instrumentation market. Among these business strategies, product approval & launches, acquisition, partnerships, and agreements were the most widely adopted growth strategies by market players.

Research Developments:

• In 2019, Danaher Corporation (US) signed an agreement with GE Healthcare (US). Under the agreement terms, Danaher will acquire the biopharma business of GE Healthcare.
• In 2019, Shimadzu Corporation (Japan), entered into an agreement with Earle A. Chiles Research Institute (Providence), (US). The agreement will focus on the application of mass spectrometry technology to develop tools for personalized cancer immunotherapeutics.
• In 2019, Thermo Fisher Scientific, Inc. (US) and Owlstone Medical (UK) entered into an agreement
• Under which, both the companies will integrate Thermo’s Q Exactive GC Hybrid Quadrupole-Orbitrap MassSpectrometer into Owlstone Medical’s Breath Biopsy platform.