The biotechnology instruments global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biotechnology Instruments Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The biotechnology instruments market size has grown strongly in recent years. It will grow from $71.06 billion in 2023 to $75.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increase chronic disease complications, increasing focus on digital solutions, growing geriatric population, growing demand for reverse transcription polymerase chain reaction (RT-PCR) tests, and increasing miniaturization.
The biotechnology instruments market size is expected to see strong growth in the next few years. It will grow to $98.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increase in biotechnology research, increasing healthcare expenses and lost productivity, growing applications of medical lasers, growing needs for the development of vaccines, drugs, therapies, and diagnostic devices, and increasing burden of target diseases. Major trends in the forecast period include technological advancements, innovations, advances in the biotechnology industry, integration of artificial intelligence and machine learning, and advancements in genomics and proteomics.
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Scope Of Biotechnology Instruments Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Biotechnology Instruments Market Overview
Market Drivers –
The prevalence of chronic diseases is expected to propel the growth of the biotechnology instruments market going forward. Chronic diseases, also known as chronic conditions or chronic illnesses, are health issues that persist for an extended period, typically lasting three months or longer. The prevalence of chronic diseases is due to unhealthy lifestyle choices, an aging population, and increased awareness and diagnosis. Biotechnology instruments help improve the quality of life for patients with chronic diseases by enhancing diagnosis accuracy, optimizing treatments, and enabling better disease management. They help identify potential drug candidates and understand their effects on chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information, a US-based intergovernmental organization, there were 1,958,310 new cancer cases in the United States and 609,820 cancer deaths in 2023. Furthermore. in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020. Therefore, the increasing demand for chronic diseases is driving the growth of the biotechnology instruments market.
Market Trends –
Major companies operating in the biotechnology instruments market are focused on developing innovative products, such as single-cell multi-omics products, to enhance personalized medicine approaches and advance genomics, proteomics, and metabolomics research. Single-cell multi-omics products are advanced technologies that analyze multiple types of biological information from individual cells. These products integrate data from various omics layers such as genomics, transcriptomics, proteomics, and metabolomics. For instance, in June 2023, Singleron Biotechnologies, a Germany-based biotechnology company, launched two innovative instruments, the NEO and the Python Junior, to enhance the standardization of single-cell analysis workflows. The Neo system can process up to half a million cells in a single run across four independent channels, allowing for high throughput and flexibility in handling different applications simultaneously. The Python Junior instrument focuses on dissociating solid tissues into high-quality single-cell suspensions. It combines mechanical treatment and enzymatic digestion, enhancing the dissociation process’s efficiency.
The biotechnology instruments market covered in this report is segmented –
1) By Product: Lab Automation Instruments, Life Science Consumables, In Vitro Diagnostic (IVD) Instruments
2) By Application: Clinical Diagnostics, Drug Discovery And Development, Proteomics And genomics, Cell Analysis, Other Applications
3) By End-user: Pharmaceutical And Biotechnology Companies, Hospitals And Diagnostic Laboratories, Academic And Research Institutes, Other End Users
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Regional Insights –
North America was the largest region in the biotechnology instruments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biotechnology instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the biotechnology instruments market are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Merck KGaA, Quest Diagnostics Inc., Avantor Inc., Agilent Technologies, Illumina Inc., Sartorius AG, Mettler Toledo, Perkin Elmer Inc., Shimadzu Corporation, Bruker Corporation, Zeiss Group, QIAGEN N.V., Novanta Inc., Cynosure LLC, Bio-Rad Laboratories Inc., Ori Biotech Limited, Hudson Robotics
Table of Contents
1. Executive Summary
2. Biotechnology Instruments Market Report Structure
3. Biotechnology Instruments Market Trends And Strategies
4. Biotechnology Instruments Market – Macro Economic Scenario
5. Biotechnology Instruments Market Size And Growth
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27. Biotechnology Instruments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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