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Life Science Instrumentation Market worth $73.9 billion | MarketsandMarketsCHICAGO, May 12, 2023 /PRNewswire/ -- The life science instrumentation industry is poised for significant growth and advancement in the near future. With rapid advancements in technology, increased demand for precision and accuracy in research and diagnostics, and a growing focus on personalized medicine, the industry is expected to witness remarkable developments. Cutting-edge technologies such as next-generation sequencing, high-throughput screening, mass spectrometry, and advanced imaging systems will drive the innovation and expansion of life science instrumentation. These instruments will enable researchers and healthcare professionals to delve deeper into the understanding of complex biological processes, develop novel therapies, and make more informed clinical decisions. Additionally, the integration of artificial intelligence, machine learning, and data analytics will enhance the capabilities of life science instruments, allowing for faster data analysis, improved efficiency, and the discovery of valuable insights. The industry's future holds the promise of ground-breaking discoveries, improved healthcare outcomes, and the advancement of life sciences as a whole.
Life Science Instrumentation Market in terms of revenue was estimated to be worth $54.9 billion in 2023 and is poised to reach $73.9 billion by 2028, growing at a CAGR of 6.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include growing food safety concerns, rising investments in pharmaceutical R&D, increasing public-private investments, and lucrative opportunities in emerging markets. Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=38 Browse in-depth TOC on "Life Science Instrumentation Market" Life Science Instrumentation Market Scope:
Spectroscopy segment to register significant growth rate over the forecast period of 2023-2028 Based on the technology, the global life science instrumentation market is segmented into spectroscopy chromatography, Polymerase Chain Reaction (PCR), immunoassays, lyophilization, liquid handling systems, clinical chemistry analyzers, microscopy, flow cytometry, Next-Generation Sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The NGS segment is anticipated to register the highest growth rate over the forecast period. The spectroscopy segment accounted for the highest share of the life science instrumentation market in 2022. Research applications segment accounted for the largest share of the life science instrumentation market, by application in 2022. Based on application, the global life science instrumentation market is segmented into research applications, clinical & diagnostic applications, and other applications. Research applications accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period. Factors such as the rising incidence of infectious diseases, the growing use of novel analytical techniques, and the launch of advanced instruments drive the growth of life science instruments. The pharmaceutical & biotechnology companies segment accounted for the largest share of the life science instrumentation market, by end user, in 2022 Based on end user, the global life science instrumentation market is segmented into hospitals and diagnostic laboratories, pharmaceutical & biotechnology companies, academic & research institutes, agriculture & food industries, environmental testing laboratories, clinical research organizations, and other end users. The pharmaceutical & biotechnology companies segment accounted for the largest share of the market in 2022. Factors such as rising healthcare expenditure and consistent increases in the adoption of advanced instruments by different end users are driving the growth of this segment. The Asia Pacific market to register the highest growth in the market during the forecast period The Asia Pacific life science instrumentation market is anticipated to register the highest growth from 2023 to 2028. Major players in the market are focusing on expanding their manufacturing capabilities in the APAC. This region is consistently witnessing a rise in the adoption of analytical instruments, offering significant growth opportunities for the key players. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=38 Life Science Instrumentation Market Dynamics: Drivers:
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2. Application of NGS in precision medicine and molecular diagnostics Challenges:
Key Market Players: As of 2022, prominent players in the life science instrumentation market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), and Shimadzu Corporation (Japan) Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=38 Recent Developments:
Life Science Instrumentation Market Advantages:
Overall, the Life Science Instrumentation market offers significant advantages, including improved organ transplantation outcomes, personalized medicine approaches, enhanced disease diagnosis and treatment, advancements in transfusion medicine, scientific research opportunities, and rapid technological progress. These advantages contribute to the growing importance and widespread utilization of Life Science Instrumentation in the field of healthcare. Related Reports: Digital PCR Market - Global Forecasts to 2028 Electrophoresis Market - Global Forecasts to 2028 Flow Cytometry Market - Global Forecasts to 2027 Next Generation Sequencing Market - Global Forecasts to 2027 Chromatography Instruments Market - Global Forecasts to 2025 About MarketsandMarkets™: MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo - https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
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