Covina, CA, July 14, 2020 (GLOBE NEWSWIRE) --
The global lab analytical instrumentation market accounted for US$ 10.4 billion in 2020 and is estimated to be US$ 18.7 billion by 2029 and is anticipated to register a CAGR of 6.8%
The report "Global Lab Analytical Instrumentation Market, By Type (Element Analysis, Separation Analysis, and Molecular Analysis), By End-user (Hospitals, Diagnostic Laboratories, Pharmaceutical, and Biotechnology), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In January 2020, Agilent Technologies Inc. Announced the latest implementation of its mutual compatibility philosophy. Now, joint customers of Agilent Technologies and Thermo Fisher Scientific can choose a chromatography data system from either company— Agilent OpenLab CDS or Thermo Fisher Chromeleon —to control analytical instruments from both organizations.
- In March 2020, Thermo Fisher Scientific launched an advanced analytical instrument and software to improve laboratory workflows. The new Thermo Scientific Vanquish Core HPLC systems expand on the award-winning performance of the Vanquish platform to provide a productivity-enhancing solution for routine laboratories.
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Analyst View:
Vendors involved in lab analytical instrumentation are implementing Artificial Intelligence (AI), machine learning, cloud services, and Big Data Analytics to enhance visibility across the supply chain, operations, and manufacturing. The design of instruments that are automated, sophisticated, and simple to use and maintain, thus driving growth of the target market.
Additionally, favorable regulations related to food, product development, environmental, and pharmaceutical industries to confirm safety and authenticity are propelling the growth of the lab analytical instrumentation market. Moreover, there is high demand for more accurate, faster, less human-centric operations and automated operations which creates greater revenue opportunities for the global market growth.
Organizations across the world are focusing on lowering production costs and optimizing productivity without compromising the quality of their offerings, this is influencing the global market for analytical instrumentation. Corporations across the globe are investing huge amounts on quality control and research & development, in order to expand their product portfolio to capture market share; this is enhancing the demand for analytical instrumentations
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Lab Analytical Instrumentation Market”, By Type (Element Analysis, Separation Analysis, and Molecular Analysis), By End-user (Hospitals, Diagnostic Laboratories, Pharmaceutical, and Biotechnology), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global lab analytical instrumentation market accounted for US$ 10.4 billion in 2020 and is estimated to be US$ 18.7 billion by 2029 and is anticipated to register a CAGR of 6.8%. The market report has been segmented on the basis of type, end-user, and region.
- By type, the global lab analytical instrumentation market is segmented into element analysis, separation analysis, and molecular analysis.
- By end-user, the growing pharma industry is projected to boost the demand for analytical instrumentation market. The pharma industry is witnessing some of the major merger deals recently. For instance, Danaher declared to acquire the biopharma business of General Electric Life Science for approximately US$ 214 billion. Whereas, Bristol-Mayers Squibb and Celgene announced definitive merger agreement due to which BMS will acquire Celgene for a value of approximately US$ 74 billion.
- By region, North America accounts for the major share in the target market on account of amount spend on R&D and a prominent share in Oil & Gas, pharma & biopharma industry, life science, and materials science sectors. The U.S. is a protruding market and home to leading pharmaceutical vendors. Hence, the U.S. pharmaceutical industry is gradually spending on R&D.
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Competitive Landscape:
The prominent player operating in the global lab analytical instrumentation market includes Agilent Technologies, Analytik Jena AG, Waters Corporation, Thermo Fisher Scientific, Citotest Labware Manufacturing Co. Ltd., Chemglass Life Sciences Inc., Danaher Corporation, SP Industries, PerkinElmer, and Kimble Chase.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis