According to Transparency Market Research, the global life science
instrumentation market was valued at US$57.4 bn in 2017 and is likely
to rise to US$85.1 bn by 2022, exhibiting a robust 8.2% CAGR
therein.
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The growing government support to the life sciences sector is the
prime driver for the global life science instrumentation market. The
rising support for scientific progress has seen the life sciences
sector become a key beneficiary of government resources in developed
countries, while a number of developing countries have also been
vital in the development of the global life sciences sector in recent
years. The increasing support provided to the healthcare industry by
growth of the life sciences sector is likely to enable rapid progress
of the life sciences sector in the coming years, thus aiding growth
of the global life science instrumentation market.
The growing biotech sector is also vital for the global life science
instrumentation market. Biotech companies are major end users of life
science instrumentation due to the vital need for life science
innovations in biotech development, and rising investment in the
biotech sector is thus likely to aid the growth of the life science
instrumentation market in the coming years.
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Spectrometry is likely to be the dominant technique in use in the
global life science instrumentation market. Spectrometry is used in
healthcare as well as food and beverage applications to detect the
presence of contaminants and the growing demand from both industries
is likely to enable steady growth in demand for spectrometry
technology and devices in the coming years. Spectrometry accounted
for 29.4% of the global life science instrumentation market in 2017,
with a valuation of US$19.2 bn, and is likely to rise to a valuation
of US$28.4 bn by 2022 at a CAGR of 8.2% therein. The absolute growth
of the spectrometry segment is likely to be higher than any other
technique segment of the global life science instrumentation market.
North America and Europe are likely to be the dominant regional
contributors to the global life science instrumentation market in the
coming years due to the strong government support to the life
sciences sector in developed regions such as the U.S., Canada, and
Western Europe. The North America and Europe markets for life science
instrumentation are likely to rise to a valuation of US$28 bn and
US$23.4 bn, respectively, by 2022.
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Asia Pacific countries such as China are also likely to play a key
role in development of the global life science instrumentation market
in the coming years due to the rising realization of the utility of
the life sciences sector in improving the indigenous healthcare
sector and the high commercial potential oft eh sector. The APEJ
market is thus likely to exhibit the highest CAGR of 8.6% over the
2017-2022 forecast period and is expected to rise to a valuation of
US$19.2 bn by 2022.
The global life science instrumentation market is likely to exhibit a
steady growth trajectory in the coming years due to the rapid growth
of key application sectors such as the healthcare sector as well as
the rising diversity of applications of the life sciences sector. The
life sciences sector has taken on an important role due to the
increasing amount of information being gathered about human health
and the various factors that interact with it. The increasing effort
to understand the genomic background of health issues is also likely
to benefit the global life science instrumentation market in the
coming years.
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Key players profiled in the report include Becton, Dickinson, and
Company, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Thermo
Fisher Scientific Inc., Danaher Corporation, Perkinelmer Inc., GE
Healthcare, Merck KGaA, Bruker Corporation, Hitachi High-Technologies
Corporation, Eppendorf AG, and Shimadzu Corporation.
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