What Insights Does The Historic And Forecast Market Size Offer?
The scientific instruments market has demonstrated strong growth in recent years. The market registered a jump from $42.95 billion in 2024 to an anticipated $45.24 billion in 2025, marking a compound annual growth rate (CAGR) of 5.3%. This significant market growth in the historic period can be attributed to increased attention on life sciences, heightened government funding for scientific research, a rise in complex scientific inquiries, environmental monitoring, and the overall globalization of research.
Looking ahead, the scientific instruments market is expected to see even more substantial growth. It’s anticipated to develop further to a grand total of $59.77 billion by 2029, with a CAGR of 7.2%. The forecast period growth can be associated with the emergence of precision medicine, personalized healthcare, the rise in point-of-care testing, an upsurge in regenerative medicine, customization and modular instrument design, better regulatory compliance and quality assurance. The forecast period also sees a growing demand for applications in biotechnology, green technologies, multi-modal imaging systems, material science, enhanced connectivity and data sharing, and global expansion of research and development activities.
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What’s Driving The Scientific Instruments Market?
Testing and research facilities have seen a sharp increase, and this is the primary driver for the scientific instruments market. The rise in these facilities is propelling the need for scientific instruments for effective testing and development of solutions. The Office for National Statistics reported in April 2024 that the total net expenditure on R&D reached £16.4 ($21.46) billion in 2022, marking an 8.9% rise from £15.0 ($19.62) billion in 2021.
Which Are The Key Segments In The Scientific Instruments Market?
The scientific instruments market categories in this report include:
1) By Type: Clinical Analyzers, Analytical Instruments, Other Types
2) By Application: Research, Clinical And Diagnostics, Other Applications
3) By End User: Hospitals And Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies, Other End-Users
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Who Are The Major Players In The Scientific Instruments Market?
Prominent companies in the scientific instruments market include Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Waters Corporation, The Merck Group, Horiba Limited, PerkinElmer Inc., F. Hoffmann-La Roche AG, Carl Zeiss AG, Shimadzu Corporation, Mettler-Toledo International Inc., Oxford Instruments PLC, Eppendorf AG, JEOL Ltd., Hitachi High-Technologies Corporation, Malvern Panalytical GmbH, Bio-Rad Laboratories Inc., Becton Dickinson and Company, Illumina Inc., Bio-Techne Corporation, Sartorius AG, Hamilton Company, Siemens Healthineers AG, Koninklijke Philips N.V. Healthcare.
What Trends Are Impacting The Scientific Instruments Market?
Scientific instruments are seeing the burgeoning impact of artificial intelligence (AI) innovation in research. One notable instance of AI utilization is Agilent Technologies Inc.’s acquisition of AI technology developed by Virtual Control in February 2022. Agilent plans on integrating this AI tech into its mass spectrometry equipment software, partnering with both liquid and gas chromatography. This advancement is set to automate labor-intensive procedures, providing competitive advantages to key players in the market.
Which Regions Are Foremost And Fastest Growing In The Scientific Instruments Market?
The largest region in the scientific instruments market in 2024 was North America. However, the title of the fastest-growing region in the forecast period is expected to be clinched by the Asia-Pacific. The scientific instruments market report covers other significant regions including Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Scientific Instruments Market Report 2025 Offer?
Scientific instruments are versatile tools that facilitate various scientific purposes for the research of novel products. These instruments can significantly assist new product development and remodelling existing products. These integral parts of a laboratory set-up have been designed to be more advanced and specialized than other measuring tools. These scientific instruments are used to record, measure, and indicate physical quantities in R&D facilities and science research labs. Undeniably, the scientific instruments market research report from The Business Research Company puts forward a comprehensive collection of vital data, offering global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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