Latest News - Scientific Instrument Market: Laboratory analytical instruments and consumables are expected to lead the Product segment during 2024-2028

The Scientific Instrument Market is being driven by Increasing investments in drug discovery

The Scientific Instrument Market is expected to grow at a CAGR of 5.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 19966.9 million. The scientific instrument market has witnessed a significant shift towards miniaturized and portable instruments to optimize laboratory space and enhance operational efficiency. Vendors are responding to this trend by reengineering established designs using advanced miniaturization technologies such as fluidics and integrated printed circuit boards (PCBs). Traditional scientific equipment, like laboratory centrifuges, typically house wires and components at the bottom and rear. However, the adoption of integrated circuit-based and fluidics-based miniaturization technologies has enabled the elimination of intricate wires, pumps, and valves in compact scientific instruments, resulting in more streamlined and space-saving solutions. 

Get more information on Scientific Instrument Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Laboratory analytical instruments and consumables
  • Measuring and monitoring devices
• End-user
  • Pharmaceutical and biotechnology companies
  • Hospitals and diagnostic laboratories
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investments in drug discovery
• Rising prevalence of infectious diseases
• Increasing popularity of online distribution channels

However, the market also witnesses some limitations, which are as follows:

• Lack of trained professionals
• High cost of scientific instruments
• Stringent compliance requirements for validation and calibration of scientific instruments

Benefits of Buying Global Scientific Instrument Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Scientific Instrument Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Scientific Instrument Market encompasses a wide range of devices used for verifying, analyzing, and measuring physical quantities in various industries, including hospitals, clinical analyzers for disease diagnosis, pharmaceutical sectors for drug safety, and research institutions for theoretical research and field studies. In the context of public health emergencies, rapid and portable instruments like handheld and benchtop clinical analyzers play a crucial role in diagnosing and treating patients. The market includes thermal analyzers, X-ray diffraction, spectrometers, product microscopes, and other advanced instruments used for data analysis and automated solutions. These instruments are essential in laboratories, such as hospitals, university laboratories, and government laboratories, for ensuring accurate and efficient analysis of samples. Handheld and portable instruments, like portable X-ray machines and handheld spectrometers, are increasingly popular due to their convenience and mobility. The market is also witnessing remodeling towards automated solutions for enhancing productivity and reducing human error. The scientific instrument market is expected to grow significantly due to the increasing demand for advanced instruments in various sectors.

Market Research Overview

The global life science tools and services market encompasses businesses involved in the research and development (R&D) of a range of product categories, including capital equipment, instruments, accessories, and consumables. These products are utilized in the production of pharmaceuticals and biotechnology products, as well as laboratory diagnosis of various diseases. Additionally, this market includes life sciences-related services such as contract research, manufacturing, and sales. According to Technavio, the healthcare market size is determined by the collective revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. Factors driving growth in the life science tools and services market include the increasing global population aging, resulting in a larger demographic requiring healthcare solutions, and advancements in technology leading to improved diagnostic tools and treatments. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/