The new report by Expert Market Research titled, ‘Global Analytical Instrumentation Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global analytical instrumentation market, assessing the market based on its segments like product types, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Analytical Instrumentation Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 43.91 Billion
• Forecast CAGR (2023-2028): 7.7%
• Forecast Market Size (2027): USD 68.34 Billion
The market has been driven by the growing adoption of modern analytical instrumentation technology by the biopharmaceutical manufacturers to expand their biosimilar manufacturing capabilities. The robust development of biosimilar manufacturing plants across the world, owing to the patent expiry of original ones, is likely to propel the demand for analytical instrumentation analysers in the forecast period.
Moreover, the stringent government regulations aimed towards augmenting the security standards in the pharmaceutical industry are anticipated to propel the demand for analytical instruments for better understanding and improvement of the chemical composition of pharmaceuticals.
This factor will further garner the market growth in the coming years. Geographically, the Asia Pacific region accounts for a significant share in the market owing to the rising demand for life sciences instruments from various end-use industries in India and China.
Analytical Instrumentation Industry Definition and Major Segments
The study of separation, identification, and quantification of chemical components of natural and artificial materials is known as analytical instrumentation. This process involves the collection and treatment of a chemical sample by performing laboratory or non-laboratory measurement on that sample and manipulating the data mathematically to obtain a meaningful result. Analytical instrumentation methods can be spectral, electroanalytical, or separative.
On the basis of product type, the market can be segmented into:
• Molecular Analysis Spectroscopy
• Elemental Analysis Spectroscopy
• Mass Spectroscopy
• Analytical Microscopes
Based on end use, the market has been categorised as:
• Life Sciences
• Chemical and Petrochemical
• Research and Academics
• Material Sciences
• Food Testing
• Oil and Gas
• Water and Wastewater
The regional markets for analytical instrumentation include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Analytical Instrumentation Market Trends
The key trends in the analytical instrumentation market include the rising demand for scientific analytical instruments in the food and beverage industry owing to the stringent food safety regulations and rising efforts by the government to reduce the cases of food poisoning.
Over the forecast period, the rapid development of food processing facilities is anticipated to propel the demand for analytical instrumentation.
Meanwhile, the rising investments in the wastewater treatment projects are the other key trends which are catering to the market growth of analytical instrumentation in order to reduce the chemical contamination of water, making it fit for drinking.
Key Market Players
The major players in the market are:
- Agilent Technologies, Inc
- Bruker Corporation
- PerkinElmer Inc
- Thermo Fisher Scientific Inc
- Shimadzu Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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