The global life science instrumentation market size was estimated to be USD 55.21 billion in 2023 and is expected to reach at USD 121.8 billion by 2033 with a CAGR of 7.46% during the forecast period 2023-2033. Rising demand for instrumentation in life science, increasing prevalence of chronic disorders, growing research & development activities, surge in demand for effective technologies for early diagnosis of disease, rising focus on precision medicines, increasing innovative product introductions by leading market players are some of the key factors boosting the market growth.
Increasing innovative product introductions by leading market players is predicted boost the market growth during the forecast period. For instance, in March 2023, Waters Corporation unveiled the Alliance iS HPLC System, which boasts user-friendly operation, eradicates typical mistakes, and ensures accurate measurements.
By Technology, Spectroscopy was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the increasing usage of advanced instruments in oncology research, rising need for real-time sample analysis, surge in improvements in spectroscopic technology, and growing launch of advanced products. For instance, in June 2022, Agilent Technologies, Inc., introduced GC/MS and LC/MS quadrupole mass spectrometers, aiming to streamline laboratory procedures and tackle essential customer challenges. Additionally, Next-generation sequencing (NGS) is predicted to grow ta fastest CAGR during the forecast period owing to the growing prevalence of genetic disorders, rising demand of advanced instruments, and surge in development of advanced technologies.
By Application, Research was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the rising funding for research & development in academic institutes, increasing drug discovery activities, and surge in introduction of advanced products. For instance, in August 2022, Thermo Scientific Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB) was launched by Thermo Fisher Scientific, Inc., a well-known multinational supplier of scientific services. This innovative and automated microscope is specially created to expedite cryo-electron tomography (cryo-ET) research. Additionally, Clinical & Diagnostics is predicted to grow ta fastest CAGR during the forecast period owing to the growing demand for effective technologies for early diagnosis of disease and increasing technological advancements.
By End-user, Pharmaceutical & Biotechnology Companies was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the growing use of life science instruments for the development of medications, rising research & development activities for better medications & treatments, and increasing introduction of advanced products. For instance, in March 2023, Thermo Fisher Scientific has unveiled a cutting-edge trace elemental analyzer called the Thermo Scientific iCAP RQplus ICP-MS Analyzer. This versatile instrument finds application in the pharmaceutical, food, and environmental industries, enabling analysis of various sample types and detecting trace elements at low concentrations. Additionally, Hospitals & Diagnostic laboratories is predicted to grow ta fastest CAGR during the forecast period owing to the surge in improvements in healthcare infrastructure, rise in number of hospitals and growing number of patients visiting to the diagnostic laboratories for disease diagnosis.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing funding for research, growing healthcare expenditures, rising initiatives by key market players for the development of advanced technologies, and surge in introduction of advanced products. For instance, in September 2021, AB SCIEX, a Danaher Corporation subsidiary, introduced the BioPhase 8800 system, a state-of-the-art capillary electrophoresis solution capable of handling eight samples concurrently while providing consistent and precise outcomes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for efficient & high-speed diagnostic equipment, increasing research & development activities, and rising mergers & acquisitions within market players. For instance, in September 2020, SPT Life Sciences, a worldwide consortium of technology companies dedicated to enhancing research in the life sciences industry, has finalized the acquisition of LBD Life Sciences, a prominent supplier of instrumentation to China's drug discovery market.
Increasing innovative product introductions by leading market players is predicted boost the market growth during the forecast period. For instance, in March 2023, Waters Corporation unveiled the Alliance iS HPLC System, which boasts user-friendly operation, eradicates typical mistakes, and ensures accurate measurements.
By Technology, Spectroscopy was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the increasing usage of advanced instruments in oncology research, rising need for real-time sample analysis, surge in improvements in spectroscopic technology, and growing launch of advanced products. For instance, in June 2022, Agilent Technologies, Inc., introduced GC/MS and LC/MS quadrupole mass spectrometers, aiming to streamline laboratory procedures and tackle essential customer challenges. Additionally, Next-generation sequencing (NGS) is predicted to grow ta fastest CAGR during the forecast period owing to the growing prevalence of genetic disorders, rising demand of advanced instruments, and surge in development of advanced technologies.
By Application, Research was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the rising funding for research & development in academic institutes, increasing drug discovery activities, and surge in introduction of advanced products. For instance, in August 2022, Thermo Scientific Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB) was launched by Thermo Fisher Scientific, Inc., a well-known multinational supplier of scientific services. This innovative and automated microscope is specially created to expedite cryo-electron tomography (cryo-ET) research. Additionally, Clinical & Diagnostics is predicted to grow ta fastest CAGR during the forecast period owing to the growing demand for effective technologies for early diagnosis of disease and increasing technological advancements.
By End-user, Pharmaceutical & Biotechnology Companies was the highest revenue-grossing segment in the global life science instrumentation market in 2022 owing to the growing use of life science instruments for the development of medications, rising research & development activities for better medications & treatments, and increasing introduction of advanced products. For instance, in March 2023, Thermo Fisher Scientific has unveiled a cutting-edge trace elemental analyzer called the Thermo Scientific iCAP RQplus ICP-MS Analyzer. This versatile instrument finds application in the pharmaceutical, food, and environmental industries, enabling analysis of various sample types and detecting trace elements at low concentrations. Additionally, Hospitals & Diagnostic laboratories is predicted to grow ta fastest CAGR during the forecast period owing to the surge in improvements in healthcare infrastructure, rise in number of hospitals and growing number of patients visiting to the diagnostic laboratories for disease diagnosis.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing funding for research, growing healthcare expenditures, rising initiatives by key market players for the development of advanced technologies, and surge in introduction of advanced products. For instance, in September 2021, AB SCIEX, a Danaher Corporation subsidiary, introduced the BioPhase 8800 system, a state-of-the-art capillary electrophoresis solution capable of handling eight samples concurrently while providing consistent and precise outcomes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for efficient & high-speed diagnostic equipment, increasing research & development activities, and rising mergers & acquisitions within market players. For instance, in September 2020, SPT Life Sciences, a worldwide consortium of technology companies dedicated to enhancing research in the life sciences industry, has finalized the acquisition of LBD Life Sciences, a prominent supplier of instrumentation to China's drug discovery market.
Segmentation: Life Science Instrumentation Market Report 2022 - 2033
Life Science Instrumentation Market Analysis & Forecast by Technology 2022 - 2033 (Revenue USD Bn)
- Spectroscopy
- PCR
- Microscopy
- Chromatography
- Electrophoresis
- Next-generation sequencing (NGS)
- Flow Cytometry
- Centrifuges
- Immunoassays
- Liquid Handling
- Lyophilization
- Cell Counting
- Others
Life Science Instrumentation Market Analysis & Forecast by Application 2022 - 2033 (Revenue USD Bn)
- Research
- Clinical & Diagnostics
- Others
Life Science Instrumentation Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Environmental Testing Labs
- Clinical Research Organizations
- Agriculture & Food Industries
- Others
Life Science Instrumentation Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Life Science Instrumentation Market: Technology Estimates & Trend Analysis
8. Life Science Instrumentation Market: Application Estimates & Trend Analysis
9. Life Science Instrumentation Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Life Science Instrumentation Market
12. Europe Global Life Science Instrumentation Market
13. Asia Pacific Global Life Science Instrumentation Market
14. Latin America Global Life Science Instrumentation Market
15. MEA Global Life Science Instrumentation Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Waters Corporation
- Agilent Technologies Inc.
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- BD
- Bio-Rad Laboratories Inc
- Eppendorf AG
- Bruker
- GE Healthcare
- Horiba Ltd
- Merck & Co. Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 55.21 Billion |
| Forecasted Market Value ( USD | $ 121.8 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
