Dallas, Texas, May 14, 2019 (GLOBE NEWSWIRE) -- By 2025, the global analytical instrumentation market revenue is estimated to reach over USD 60.0 billion. The growth of market is owed to the heavy usage of high end sophisticated instruments for qualitative and quantitative analysis in the industries such as pharmaceuticals, biotechnology, life science, chemicals, and academics among others. The analytical instrumentation industry is driven by the solutions that would reduce the overall operating costs for the end users. Analytical instruments such as HPLC, GC, UV-VIS, NMR and many more are very costly instruments and sensitive which need skilled labor to use.
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The study covers the global analytical instrumentation market value for a period ranging in between 2015 to 2025, where 2015 to 2017 imply the historical value with forecast between 2018 and 2025. The global analytical instrumentation market report also includes qualitative insights of the market such as pipeline analysis, porters five forces analysis, drivers and restraints.
All these factors increase the overall operating costs of the instruments which is very difficult for the small and medium scale companies. With the growing technological advancement in the analytical industry, the overall cost is expected to rise which would shrink the capital to be implemented for these instruments, on the contrary it would definitely help in faster analysis and thus end users would achieve high productivity. The major companies in this industry are trying to merge and expand its product portfolio in order to provide additional offerings to its key customers and thus hold a strong footprint in all market segments.
The “Global Analytical Instrumentation Market Size by Type (Chromatography {Liquid Chromatography, Gas Chromatography, Others}, Spectroscopy {Mass Spectroscopy, Molecular Spectrometry, Other}, Others), by End User (Pharma and Biotech, Industrial & Applied, Academia and Government, Others) and Region (North America, Europe, South America, and Middle East & Africa) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Although analytical instrumentation market is a mature market, there is still an ample amount of opportunity which would thrive the analytical instrumentation market. These opportunities are in the form of innovative technology and solution that would help in faster and accurate analysis. Growing demand for regulations in food & beverage, pharmaceuticals and biotechnology industries to ensure the safety and authenticity is expected to fuel the growth of the analytical instrumentation market over the forecast period.
The analytical instruments are the basic need of industry which need to perform qualitative and quantitative analysis of any sample, so the demand for these instruments would go on forever. Currently the companies are shifting the business focus from just selling the product in the market to providing services to the end user as and when required in order to satisfy the customer and generate a good amount of revenue year on year from annual maintenance contracts and comprehensive maintenance contracts.
The after sales service market in the analytical industry is expected to flourish over the forecast period and implementation of industrial IOT models in instruments will boost the growth of the dominating players. Companies have already started focusing on incorporating artificial intelligence which would allow systems to detect and resolve the issue automatically. Implementation of such technology to these instruments will help the end users to make better use of the system and thus increase the output by decreasing the downtime. Also, with the help of IIoT (industrial internet of things) and AI (artificial intelligence) downtime can be prevented even before it occurs by observing the historical trends. For instance, recently Shimadzu Corporation announced the release of the Nexera UHPLC series, which is incorporated with artificial intelligence and allows the system to detect & resolve problems automatically. The Nexera series takes lab management to an advance level by integrating Internet of Things (IoT) and device networking, enabling end users to easily optimize resource allocation, review instrument status & achieve higher throughput.
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By type, the analytical instrumentation market is segmented into chromatography, spectroscopy and others. The chromatography segment is further bifurcated into liquid chromatography and gas chromatography while the spectroscopy market is sub segmented into molecular spectroscopy and mass spectrometry. The chromatography segment is projected to dominate the market with a share of ~30% in 2018. Chromatography instruments such as HPLC and GC find usage across several industries such as pharmaceuticals, biotechnology, life science and chemical industries. By application, pharma and biotech is projected to dominate the global analytical instrumentation industry and is projected to witness fastest growth rate with CAGR of 8.3% over the forecast period. Growing number of pharmaceutical companies and exports in the Asia Pacific region is projected to open new avenues of opportunity in the market over the forecast period.
On the basis of region, the analytical instrumentation market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. Asia Pacific contributed more than 30% market share in 2017 and is expected to grow with the highest CAGR over the forecast period owing to high export demand from European and North American regions.
Some of the key players in the global analytical instrumentation market are WATERS Corporation, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., KNAUER Wissenschaftliche Geräte GmbH, Nanalysis Corp., Shimadzu Corporation., Bruker, JASCO., Oxford Instruments and Danaher.
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Major points from Table of Contents:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Analytical Instrumentation Type Overview
Chapter 5 Analytical Instrumentation Market Application Overview
Chapter 6 Analytical Instrumentation Regional Overview
Chapter 7 Company Profiles
Chapter 8 Future Outlook of the Market
Chapter 9 Conclusions and Recommendations
Continued…
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