OREANDA-NEWS. Life Science Instrumentation Market by Technology (Chromatography, Flow Cytometer, Spectroscopy, PCR, Microscopy), End User (Pharmaceutical & Biotechnology Companies, CROs, Hospitals), Application (Research, Clinical & Diagnostic) - Global Forecast to 2021..., Market Research Report: MarketsandMarkets.

The life science instrumentation market is expected to reach USD 64.52 Billion by 2021 from USD 46.36 Billion in 2016, at a CAGR of 6.8% between 2016 and 2021. Factors such as growing pharmaceutical R&D investments, increasing food safety concerns, availability of public and private funding for life science research studies, technological advancements in analytical instruments, and stringent drug development regulations in developed countries are propelling the growth of the global life science instrumentation market. However, high cost of technologically advanced instruments, dearth of skilled professionals, and presence of alternative technologies are some of the major factors restraining the growth of this market.

On the basis of technology, the global life science instrumentation market has been divided into thirteen segments, namely, cell counting, centrifuges, chromatography, electrophoresis, flow cytometry, immunoassays, liquid handling and robotics, microscopy, next-generation sequencing, PCR, spectroscopy, western blotting, and other technologies. The other technologies segment comprises heat sterilization, colorimeter, fume hoods, incubators, laboratory balances, microplate systems, and laboratory freezers.

The next-generation sequencing (NGS) technology segment is expected to grow at the highest CAGR during the forecast period. The increasing focus of technological advancements in sequencing platforms and increasing applications of NGS is contributing to the high growth of this market segment.

The global life science instrumentation technology market is segmented on the basis of end user into pharmaceutical and biotechnology companies; CROs; research institutions; hospitals, clinics, and diagnostic laboratories; academic institutions; forensic science laboratories; food and agriculture industry; environmental testing industry; and other end users. The pharmaceutical and biotechnology companies segment is expected to account for the largest market share in 2016, primarily due to the increasing adoption of analytical instruments in the drug discovery and development process.

Based on applications, the market is segmented into research applications; clinical and diagnostic applications; and other applications. The research applications segment is expected to account for the largest share of the global life science instrumentation market in 2016, and is expected to grow at the highest CAGR during the forecast period. The large share and high growth in this segment can be attributed to the growing number of research activities among the end users with faster adoption of analytical instruments.

North America is expected to account for the largest share of the global life science instrumentation market in 2016, followed by Europe and Asia-Pacific. The Asia-Pacific market is expected to register the highest CAGR during the forecast period. The high growth in this segment can be attributed to strategic expansion by key market players in emerging Asian countries; growing pharmaceutical industry in India and China; and increasing government investment in the biomedical industry in China and Singapore.

The life science instrumentation market is highly competitive owing to the presence of a number of large and small firms. With improving industry standards, the global life science instrumentation market has been witnessing several product innovations. New product launches and product enhancements was the key growth strategy adopted by market players to strengthen their market positions.

Major players in the global life science instrumentation market are Agilent Technologies, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), and Waters Corporation (U.S.).