Biotechnology Instrumentation Market Outlook 2031
The global biotechnology instrumentation market size was USD 86.28 Billion in 2022 and is projected to reach USD 122.17 Billion by 2031 register a significant CAGR 3.94% during the forecast period, 2023-2031. The growth of the market is attributed to the increasing need for biotechnological tools in the pharmaceutical industry, biotech industry, and several other medical-related industries.
Biotechnology is a dynamic and ever-growing field where it has wide applications of various products especially in the pharmaceutical industry and scientific research institutes. These products are mainly produced by using biological agents or their derivatives. Biotechnology instrumentation consists of essential and basic tools that are used to calculate, measure, utilize, and prepare biological samples or solutions.
In applied science, biotechnology is one of the most dynamic and researched fields at present. Some of the major and commonly used biotechnology tools or equipment are thermal cyclers, centrifuges, bioreactors, incubators, stability chambers, conductivity meters, spectrophotometers, and thermometers.
Biotechnology Instrumentation Market Trends, Drivers, Restraints, and Opportunities
- Development of new products along with the advancement of therapeutics by analyzing the existing drugs is anticipated to boost the market growth during the forecast period.
- Improvement in throughput capacity and advancements in the quality of biotech instruments are expected to propel market growth during the forecast period.
- Augmenting applications and safety concerns related to the biotechnology instruments are anticipated to drive the market expansion in the coming years.
- Increasing monitoring of the environment along with the growing funds collected by the government initiatives is estimated to boost the market growth during the forecast period.
- Ongoing research & development initiatives taken by several pharmaceutical companies in order to meet the growing needs of biotechnological instruments are projected to create lucrative opportunities for the market.
Scope of The Biotechnology Instrumentation Market Report
The report on the global biotechnology instrumentation market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Biotechnology Instrumentation Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technology (Imaging, Laboratory Automation, Electrophoresis [Capillary and Gel], Microarray Technology [Cells, DNA, Tissue, and Protein], Immunoassay [Chemiluminescence, Radio, Fluorescence, and Enzyme], Mass Spectroscopy [Atomic, Molecular, and Mass], Chromatography [Gas and Liquid]), End-Users (Pharmaceutical Companies, Biotech Companies, and Research Institutes)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Waters Corp.; Agilent Technologies, Inc.; Becton, Dickinson and Co.; PerkinElmer, Inc.; Bio-Rad Laboratories, Inc.; Shimadzu Corp.; F. Hoffmann-La Roche Ltd.; Eppendorf; Bruker Corp.; Spinco biotech Ltd.; Sigma Aldrich; Danaher Corp., and Thermo Fisher Scientific, Inc.
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Biotechnology Instrumentation Market Segment Insights
Imaging segment is expected to dominate the market
On the basis of technology, the global biotechnology instrumentation market is segmented into imaging, laboratory automation, electrophoresis, microarray technology, immunoassay, mass spectroscopy, and chromatography. The electrophoresis segment is further bifurcated into capillary and gel electrophoresis.
The microarray technology segment is sub-divided into cells, DNA, tissue, and protein while the immunoassay segment is further segmented into chemiluminescence, radio, fluorescence, and enzyme. The mass spectroscopy is sub-divided into atomic, molecular, and mass while the chromatography is further bifurcated into gas and liquid. The imaging segment is expected to dominate the market during the forecast period attributed to various applications of instrumentation.
Pharmaceutical companies segment is anticipated to hold a major share
Based on end-users, the market is categorized as pharmaceutical companies, biotech companies, and research institutes. The pharmaceutical companies segment is anticipated to hold a major share of the market in the coming years owing to the increasing usage of biotechnological tools or instruments by pharmaceutical companies for the development of new drugs and devices for diseases treatment.
North America is estimated to exhibit a high CAGR
In terms of regions, the global biotechnology instrumentation market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is estimated to exhibit a high CAGR during the forecast period attributed to the enormous amount of funding made by major pharmaceutical players and ample amount of research & development initiatives by governments in the region.
Meanwhile, the market of Asia Pacific is expected to account for a considerable market share during the forecast period due to growing engagement by the pharmaceutical and biotech companies for the development of such products in the region. Moreover, increasing number of Contract Research Organizations (CROs) and support & fund provided by several governments to develop the pharmaceutical industry in the region.
Segments
The global biotechnology instrumentation market has been segmented on the basis of
Technology
- Imaging
- Laboratory Automation
- Electrophoresis
- Microarray Technology
- Immunoassay
- Chemiluminescence
- Radio
- Fluorescence
- Enzyme
- Mass Spectroscopy
- Chromatography
End-Users
- Pharmaceutical Companies
- Biotech Companies
- Research Institutes
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Waters Corp.
- Agilent Technologies, Inc.
- Becton, Dickinson and Co.
- PerkinElmer, Inc.
- Bio-Rad Laboratories, Inc.
- Shimadzu Corp.
- F. Hoffmann-La Roche Ltd.
- Eppendorf
- Bruker Corp.
- Spinco biotech Ltd.
- Sigma Aldrich
- Danaher Corp.
- Thermo Fisher Scientific, Inc.
Competitive Landscape
Key players competing in the global biotechnology instrumentation market are Waters Corp.; Agilent Technologies, Inc.; Becton, Dickinson and Co.; PerkinElmer, Inc.; Bio-Rad Laboratories, Inc.; Shimadzu Corp.; F. Hoffmann-La Roche Ltd.; Eppendorf; Bruker Corp.; Spinco biotech Ltd.; Sigma Aldrich; Danaher Corp., and Thermo Fisher Scientific, Inc.
Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their consumer base and expand market position globally.
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