Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Analytical Laboratory Instrument Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global analytical laboratory instrument market is expected to grow from $87.96 billion in 2020 to $92.55 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%.
Major players in the analytical laboratory instruments market are Agilent Technologies, Waters Corporation, Thermo Fisher Scientific, Danaher Corporation, SP Industries, PerkinElmer, Danaher Corp, Chemglass Life Sciences Inc., Citotest Labware Manufacturing Co. Ltd., and Kimble Chase.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $123.83 billion in 2025 at a CAGR of 8%.
The analytical laboratory instruments market consists of sales of analytical laboratory instruments and related services. These instruments are used in laboratory analysis of the chemical or physical composition or concentration of solid, liquid, gaseous, or composite material. Analytical instruments are a large class of instruments used in chemical, pharmaceutical, life-sciences, food processing labs and oil refineries for testing the samples.
The rapid growth in life science industries contributed to growth of analytical laboratory instruments market. A growing patient population suffering from life-style related problems such as diabetes and heart-related problems, and other life-threatening diseases such as cancer and growing investment on research and development and increasing aged population aided the growth in life science industry.
According to International Diabetes Federation, the diabetic population is expected to grow to 700 million in 2045 from 463 million in 2019. Moreover, according to the 2019 Revision of World Population Prospects by United Nations, the population above 65 years will increase to 16% in 2050 from 11% in 2019 and the population aged 80 years and above are expected to increase to 426 million in 2050 from 143 million in 2019.
This rapid growth in population depending on life sciences market will increase the necessity to conduct lab researches that require analytical laboratory instruments thereby increasing the demand for laboratory instruments. Therefore, growing life science industry is expected to drive the market for analytical laboratory instruments.
The cost of life science instruments is expected to increase limiting the new purchases of analytical laboratory instruments. Development of advanced features and functionalities, technological advancements, innovative systems have added to their price. A High-Performance Liquid Chromatography (HPLC) ranges from $12,000 to $50,000.
The analytical laboratory instruments market covered in this report is segmented by type into element analysis, separation analysis, and molecular analysis. It is also segmented by end-user into hospitals, diagnostic laboratories, pharmaceutical, and biotechnology.
Companies in the analytical laboratory instruments market are manufacturing equipment with ability to record data and provide to the cloud. The use of cloud technology will assist scientists in sharing the results sooner.
Key Topics Covered:
1. Executive Summary
2. Analytical Laboratory Instrument Market Characteristics
3. Analytical Laboratory Instrument Market Trends and Strategies
4. Impact of COVID-19 on Analytical Laboratory Instrument
5. Analytical Laboratory Instrument Market Size and Growth
5.1. Global Analytical Laboratory Instrument Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Analytical Laboratory Instrument Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Analytical Laboratory Instrument Market Segmentation
6.1. Global Analytical Laboratory Instrument Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Analytical Laboratory Instrument Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Analytical Laboratory Instrument Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Analytical Laboratory Instrument Market Regional and Country Analysis
7.1. Global Analytical Laboratory Instrument Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Analytical Laboratory Instrument Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Thermo Fisher Scientific
Chemglass Life Sciences Inc.
Citotest Labware Manufacturing Co. Ltd.
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