Boston, MA, March 01, 2017 --(PR.com
)-- Technological advancements in life science research across the globe has introduced a variety of techniques which are used by researchers for various applications including drug discovery and development, manufacturing, clinical diagnostics, basic research in genomic, proteomics, transcriptomics, metabolomics to cater the ever-growing needs of biotechnology and pharmaceutical, scientific equipments, life science research and services and diagnostics. Life Science instruments and reagents market comprises of technologies including Spectrometry, Chromatography, Microscopy, PCR, Flow Cytometry, Laboratory centrifuges, Electrophoresis, NGS, Biochips, Automated liquid handling and robotics, Cell Counters, Laboratory freezer and Others.
According to IQ4I analysis, the Life science instruments and reagents global market is expected to grow at high single digit to reach $81,325 million by 2023. The major factors driving the lifescience instruments and reagents market include increased focus on R&D expenditure and growth of biotechnology and pharmaceutical industries, technological advancements in analytical devices, growth in funding for research, rising demand of analytical instruments with growing research activities in proteomics, lucrative growth opportunities in emerging markets and increasing demand from various industries. Factors such as high cost of instruments, dearth of skilled professionals and stringent regulations are hampering the market growth.
The report covers all life instruments and associated reagents used in pharmaceuticals, biotechnology and diagnostics that help cutting edge research and innovative application. These technologies include from basic to advanced technologies including spectrometry, chromatography, microscopy, PCR, flow cytometry, laboratory centrifuges, electrophoresis, NGS, biochips, automated liquid handling and robotics, cell counters, laboratory freezers and others. Among the technologies, spectrometry held the highest share and expected to grow at a mid single digit by 2023 due to their applications across all the disciplines of life science industry. Among the technologies, NGS is the fastest growing segment with mid double digit growth rate.
Life science instruments and reagents global market by end users, pharmaceutical and biotechnology companies held the largest share and expected to grow at high single digit by 2023. Increasing demand for accurate and precise data for drug discovery and development has increased demand for spectrometry, chromatography, microscopy, PCR, flow cytometry, NGS and other life science instruments. Hospitals and diagnostic centers are fastest growing segment among end users with mid double digit growth rate.
Some of the key players such as Agilent Technologies (U.S.), BD and Company (U.S.), Bio-Rad Laboratories (U.S.) Bruker Corporation (U.S.), Danaher Corporation (U.S.), Illumina, Inc. (U.S.), Merck KGaA (Germany), Perkinelemer, Inc. (U.S.), Roche Holdings (Switzerland), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.) and Waters Corporation (U.S.).
Some of the other players in the life science and instruments market include Qiagen N.V. (Netherlands), Abbott (U.S.), GE Healthcare (U.K.), Olympus (Japan), Nikon (Japan) , Tecan (Japan), Hitachi High-Tech (Japan), Biomeriex (France), Fluidigm (U.S.), Luminex (U.S.), Hamilton (U.S.), Pacific Biosciences (U.S.)