Pharmaceutical and Biotechnology Industry Dominates the Life Science Equipment Market in 2023, Fueling Growth in the Sector
Dublin, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The "Life Science Equipment Market by Technology, End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global life science equipment market is on a growth trajectory and is expected to reach a valuation of $92.21 billion by 2030, with a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.
Several key factors are contributing to this growth, including advancements in genomics and proteomics, the rising awareness and adoption of personalized medicines, increased automation and digitalization within the life sciences industry, and a growing emphasis on food safety and quality. These factors are creating significant growth opportunities for market players.
While the market outlook is promising, it is not without challenges. The shortage of skilled professionals capable of operating advanced laboratory equipment and concerns about data security are significant hurdles for industry stakeholders.
Key Highlights from the Report:
Sequencing Technology Leads: In 2023, the sequencing segment is expected to register the highest CAGR during the forecast period. Sequencing technology's ability to generate error-free, high-yield results, its integration in clinical and research settings, and increased partnerships among sequencing instrument manufacturers are all contributing factors.
Pharmaceutical and Biotechnology Dominance: Among end users, the pharmaceutical and biotechnology industry segment is estimated to account for the largest share of the life science equipment market in 2023. This is attributed to the growing interest in personalized medicine, an uptick in research studies on biologics and biosimilars, and increased collaborations between pharmaceutical and biotechnology companies and Contract Research Organizations (CROs).
Regional Insights: In 2023, North America is anticipated to hold the largest share of the life science equipment market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Factors supporting North America's leadership position include a high prevalence of chronic and infectious diseases, extensive approvals of biosimilars and generics, advanced technology adoption, a well-established healthcare system, and increased funding for life science research.
Key Market Players:
Leading companies in the life science equipment market include Agilent Technologies, Inc., Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Waters Corporation, Bruker Corporation, Shimadzu Corporation, Siemens Healthineers AG, Eppendorf SE, Sartorius AG, and Qiagen N.V.
Scope of the Report:
Life Science Equipment Market Assessment - by Technology
Spectroscopy
Molecular Spectroscopy
UV/Vis Spectroscopy
Nuclear Magnetic Resonance (NMR)
Near-Infrared (NIR) Spectroscopy
Infrared (IR) Spectroscopy
Raman Spectroscopy
Polarimeters and Refractometers
Fluorescence & Luminescence Spectroscopy
Other Molecular Spectroscopy Technologies
Note: Other molecular spectroscopy technologies segment includes Raman spectroscopy, ellipsometry, and color measurement.
Mass Spectrometry
Quadrupole LC/MS
Time of Flight LC/MS (Q-TOF & LC-TOF)
Gas Chromatography-Mass Spectrometry (GC/MS)
Fourier Transform Mass Spectrometry (FT/MS)
Matrix-Assisted Laser Desorption/Ionization-Time of Flight Mass Spectroscopy (MALDI-TOF MS)
Portable and In-Field Mass Spectroscopy
Tandem Mass Spectroscopy (MS/MS)
Ion Trap Mass Spectroscopy (LC/MS)
Atomic Spectroscopy
Atomic Absorbance Spectroscopy (AAS)
X-Ray Fluorescence (XRF) Spectroscopy
X-Ray Diffraction (XRD) Spectroscopy
Other Atomic Spectroscopy Technologies
Note: Other atomic spectroscopy technologies segment includes inductively coupled plasma (ICP) spectroscopy, glow discharge spectroscopy, and arc/spark optical emission spectroscopy.
Spectroscopy Software
Microscopy
Electron Microscopy
Optical Microscopy
Scanning Probe Microscopy
Other Microscopy
Microscopy Software
Chromatography
High-Performance Liquid Chromatography (HPLC)
Gas Chromatography (GC)
Low Pressure Liquid Chromatography (LPLC)
Flash Chromatography
Thin Layer Chromatography (TLC)
Ion Chromatography
Supercritical Fluid Chromatography (SFC)
Chromatography Software
Lab Automation
Automated Workstations
Robotic Systems
Automated Storage and Retrieval Systems (ASRS)
Lab Automation Software
Immunoassay Analyzers
Chemiluminescence Immunoassay
Fluorescence Immunoassay
Radioimmunoassay (RIA)
Colorimetric Immunoassay
Other Immunoassay Analyzers
Immunoassay Software
PCR
RT-PCR
Conventional PCR
Digital PCR
PCR Software
Sequencing
Flow Cytometry
Cell-Based Flow Cytometers
Bead-Based Flow Cytometers
Flow Cytometry Software
Incubators
Microarray
DNA Microarrays
Protein Microarray
Tissue Array
Other Microarrays
Microarray Software
Note: Other microarrays segment includes glycan microarray, carbohydrate microarray, and chemical compounds microarray.
Centrifuges
Centrifuges, by Type
Devices
Multipurpose Centrifuges
Microcentrifuges
Mini-centrifuges
Ultracentrifuges
Other Centrifuges
Centrifuge Accessories
Centrifuges, by Model
Benchtop Centrifuges
Floor-standing Centrifuges
Centrifuges, by Application
Research Applications
Genomics
Microbiology
Cellomics
Proteomics
Clinical Applications
Diagnostics
Blood Processing and Screening
Other Applications
Electrophoresis
Gel Electrophoresis
Capillary Electrophoresis
Gel Documentation Systems and Software
Other Equipment
Note: Other equipment segment includes autoclaves, stirrers & shakers, mixers, baths, hot plates, ovens & furnaces, and balances.
Life Science Equipment Market Assessment - by End User
Pharmaceutical and Biotechnology Industry
Academic & Research Institutes
Hospitals and Diagnostic Laboratories
Analytical Testing Laboratories
Agriculture and Food Industry
Forensic Laboratories
Other End Users
Note: Other end users include blood banks and industries, such as cosmetics, chemicals, oil & gas, electronics & semiconductors, automotive, aerospace, ceramics, plastics, rubber, and paints & coatings.
Life Science Equipment Market Assessment - by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Switzerland
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
South Korea
Rest of APAC (RoAPAC)
Latin America
Brazil
Mexico
Rest of LATAM (RoLATAM)
Middle East & Africa
Saudi Arabia
UAE
Rest of Middle East & Africa (RoMEA)
For more information about this report visit https://www.researchandmarkets.com/r/idopx9
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