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What are the latest figures on the analytical instrumentation market’s size and projected CAGR?
The analytical instrumentation market size has grown strongly in recent years. It will grow from $56.78 $ billion in 2024 to $61.45 $ billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to development of precision medicine, stringent government regulations, growth in prevalence of chronic diseases, rise in percentage of geriatrics, and increase concern for product quality.
The analytical instrumentation market size is expected to see strong growth in the next few years. It will grow to $83.21 $ billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing R&D activities, increasing the demand for analytical instrumentation products, increasing incidence of cancer and chronic diseases, increasing adoption of analytical instrumentation for precision medicine applications, and rising employment of analytical instruments. Major trends in the forecast period include technological advancements, adoption of advanced technologies, advancements in next-generation sequencing, adoption of sustainable tools, and advancements in personalized medicine.
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Which Market drivers have played a significant role in driving the analytical instrumentation market?
The rising demand in pharmaceutical industries is expected to propel the growth of the analytical instrumentation market going forward. The pharmaceutical industry’s growth is attributed to continuous research and development innovation, successful regulatory approvals, an aging population, technological advancements, globalization, and improved healthcare access. Analytical instrumentation helps pharmaceutical industries by enabling precise measurement, quality control, and validation of drug formulations, ensuring safety, efficacy, and compliance with regulatory standards. For instance, in February 2023, Merck & Co. Inc., a US-based pharmaceutical company, reported global sales of $59.3 billion for 2022, reflecting a 22% increase compared to 2021. Therefore, the rising demand in pharmaceutical industries is driving the growth of the analytical instrumentation market.
What are the key segments within the analytical instrumentation market?
The analytical instrumentationmarket covered in this report is segmented –
1) By Product: Instruments, Services, Software
2) By Technology: Polymerase Chain Reaction, Spectroscopy, Microscopy, Chromatography, Flow Cytometry, Sequencing, Microarray, Other Technologies
3) By Application: Life Sciences Research And Development, Clinical And Diagnostic Analysis, Food And Beverage Analysis, Forensic Analysis, Environmental Testing, Other Applications
Subsegments:
1) By Instruments: Chromatography Instruments, Spectroscopy Instruments, Mass Spectrometry Instruments, Electrochemical Analyzers, Microscopy Instruments
2) By Services: Calibration Services, Maintenance Services, Consulting Services, Training Services
3) By Software: Data Analysis Software, Instrument Control Software, Lab Management Software, Regulatory Compliance Software
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Which key players are shaping the analytical instrumentation market?
Major companies operating in the analytical instrumentation market are Hitachi Ltd., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Avantor Inc., Agilent Technologies Inc., Illumina Inc., Sartorius AG, Mettler-Toledo International Inc., PerkinElmer Inc., Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Carl Zeiss AG, HORIBA Group, Eppendorf SE, Renishaw plc, Malvern Panalytical Ltd., Smiths Detection Group Ltd., Techcomp Inc., LECO Corporation, JASCO International Co. Ltd
Which transformative trends will shape the analytical instrumentation market landscape?
Major companies operating in the analytical instrumentation market are focusing on integrating intelligent technologies to enhance data analysis, improve accuracy, and automate processes. Intelligent analytical instrumentation enhances data accuracy, automation, and predictive capabilities and improves decision-making processes. For instance, in April 2024, Agilent Technologies, a US-based analytical instrumentation company, launched a new Advanced Dilution System, the ADS 2, designed to enhance laboratory workflows and increase sample throughput for ICP-MS and ICP-OES analysis. It includes an intelligent auto dilutor that integrates seamlessly with Agilent autosamplers. The system Utilizes the same software as the ICP instruments for consistent data handling and reporting, which is handy for laboratories performing routine analysis of many samples from different matrices where analyte concentrations can vary significantly.
How do regional factors impact the analytical instrumentation market, and which region is the largest contributor?
North America was the largest region in the analytical instrumentation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the analytical instrumentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Analytical Instrumentation Market Report 2025 Offer?
The analytical instrumentation market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Analytical instrumentation refers to a range of devices and tools used to analyze the composition, structure, and properties of substances or materials. These instruments provide precise measurements and data about chemical, physical, or biological samples, enabling researchers, scientists, and engineers to assess the quality, quantity, and characteristics of materials.
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