New York, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global Biotechnology Instruments Market Size is to Grow from USD 69.7 Billion in 2022 to USD 152.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.1% during the projected period.
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Biotechnology instruments are equipment and techniques employed throughout biotechnology and medical engineering. Miniaturization and the development of lightweight materials for the creation of biotechnology devices are enabling new dimensions in the design of these instruments. The rising global demand for biotechnology instruments is likely to provide considerable potential possibilities for participants in the biotechnology instruments market. Growing demand for analytical instruments, the rising prevalence of target diseases and the geriatric population, and technical developments in research-use equipment are major factors boosting the biotechnology instruments market growth. Additionally, the rising prevalence of chronic diseases and rising demand for point-of-care (POC) tests/devices are also propelling the market forward. Furthermore, the pandemic had a substantial influence on the industry due to an increase in demand for vaccine development and examinations, generating disruptions in supply chains and laboratory access and hastening the implementation of automation and data analysis tools.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Biotechnology Instruments Market Size, Share, and COVID-19 Impact Analysis, By Product (Analytical Instruments, Cell Culture Instruments, Cell Separation Instruments, Immunoassay Instruments, Clinical Chemistry Analyzers, Others), By End-Users (Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The analytical instruments segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product, the global biotechnology instruments market is segmented into the analytical instruments, cell culture instruments, cell separation instruments, immunoassay instruments, clinical chemistry analyzers, and others. Among these, the analytical instruments segment is dominating the market with the largest revenue share of 54.7% over the forecast period. These devices, which incorporate technologies such as mass spectrometry, chromatography, and spectroscopy, are crucial in the precise evaluation and identification of biological materials, which supports applications ranging from drug development to genetic research.
The pharmaceutical & biotechnology companies segment accounted for the largest revenue share of more than 41.5% over the forecast period.
On the basis of end-users, the global biotechnology instruments market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, academic & research institutes, and others. Among these, the pharmaceutical & biotechnology companies segment is dominating the market with the largest revenue share of 41.5% over the forecast period. To drive medication discovery, development, and production processes, these entities rely extensively on a wide range of devices, such as gene sequencers, protein analyzers, and high-throughput screening systems.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 42.7% market share over the forecast period. This is due to the region's higher prevalence of target diseases, an aging population, broad adoption of point-of-care diagnostic tests/devices, and an increasing demand for intravenous drug equipment. Furthermore, greater R&D activities and expanded public-private research investments raise demand, resulting in market expansion. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. This trend is primarily responsible for the rapid expansion of biotechnology sectors in emerging economies such as China, Japan, South Korea, Australia, and India. The considerable government backing for biotechnology in these countries also encourages business expansion. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Biotechnology Instruments Market include Zeiss Group, Abbott Laboratories, Thermo Fisher Scientific, Inc., Illumina, Inc., Mettler Toledo, Endress+Hauser, Bruker Corp., PerkinElmer, Inc., Eppendorf SE, Danaher, bioMérieux SA, Bruker Corp., Sartorius AG, Waters Corp., Avantor, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, and among others.
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Recent Developments
- On March 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, and GenoScreen have announced the availability of a package that combines Illumina products with the GenoScreen Deeplex Myc-TB assay, a targeted next-generation sequencing (NGS)-based test for the rapid and extensive detection of anti-TB drug resistance. The collaboration is increasing the ability of tuberculosis-affected countries, particularly India, to detect and combat multidrug-resistant tuberculosis (MDR-TB).
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Biotechnology Instruments Market based on the below-mentioned segments:
Biotechnology Instruments Market, Product Analysis
- Analytical Instruments
- Cell Culture Instruments
- Cell Separation Instruments
- Immunoassay Instruments
- Clinical Chemistry Analyzers
- Others
Biotechnology Instruments Market, End-Users Analysis
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Others
Biotechnology Instruments Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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