18-Jan-2022 | Facts and Factors
“Biotechnology Instruments Market Product (Lab Automation Instruments, Life Science Consumables, IVD Instruments, and Medical Lasers), and End-User (Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2026” states that the global demand for the biotechnology instruments market in 2020 was approximately USD 41,006.2 Million. The market is likely to grow at a CAGR of 12.66% and is anticipated to reach around USD 80,051.1 Million by 2026.
Bioinstrumentation refers to the use of biomedical engineering that is focusing on the devices and mechanics, which are used in measuring, evaluating, and treating biological systems. The biotechnology instruments market across the globe has witnessed major growth in recent years, mostly due to the immense increase in demand for biotechnology products for the making of personalized medicine. Such a promising field of medicine that aims to serve consumers via medicines produced by keeping in mind every individual’s biological makeup and getting rid of the negative effects, which might result from mass-produced medicines, is likely to be one of the key customers of biotechnology products in the forthcoming years. Moreover, the growing use of 2D and 3D cell cultures in the area of discovery and manufacture of novel drug compounds is emerging as a major aspect propelling the global biotechnology instruments market expansion.
Furthermore, the high adoption of point-of-care diagnostic devices is also driving market growth. Other factors attributing to the market growth include the continuous developments in research and developments that are improving the capabilities of point-of-care (POC) testing systems. Besides, the rising incidence of a variety of chronic diseases worldwide, the demand for personalized medicines is anticipated to fuel the market growth during the forecast period. This, in turn, will boost market development in the coming years.
Geographically, the biotechnology instruments market can be segmented into North America, Asia-Pacific, Europe, the Middle East, and Africa, and Latin America. North America is contributing to the largest revenue share due to the increase in demand and affordability of biotechnology instruments. Moreover, the tendency to manual mechanization in the pharmaceuticals, biotechnology, and associated industries in this region is driving the demand for superior instruments for effortlessness and accelerating the process. In addition, the rising government support for research and development is also projected to enhance the regional market expansion.
Browse the full “Biotechnology Instruments Market Product (Lab Automation Instruments, Life Science Consumables, IVD Instruments, and Medical Lasers), and End-User (Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/biotechnology-instruments-market
The Asia-Pacific biotechnology instruments market is estimated to be the highest increasing regional market in the forthcoming years as a result of major factors such as the quick improving economy as well as the rising investments in the biotechnology segment.
Waters Corporation, Abbott, Tecan Group AG, Alcon Inc., AngioDynamics, Becton, Dickinson, and Company, Siemens Healthineers, BioMerieux SA, Bio-Rad Laboratories, BioTek Instruments Inc., Danaher Corporation, Candela Medical, Perkin Elmer Inc., QIAGEN, Cynosure LLC, Endress+Hauser (Analytik Jena GmbH), IRIDEX, F. Hoffmann-La Roche Ltd., Lumenis, Novanta Inc., Thermo Fisher Scientific, Inc., Merck KGaA, Zimmer MedizinSysteme GmbH, IIlumina Inc., and Agilent Technologies are several companies operating in the global market of biotechnology instruments.
This report segments the global biotechnology instruments market as follows:
Global Biotechnology Instruments Market: By Product
- Lab Automation Instruments
- Life Science Consumables
- IVD Instruments
- Medical Lasers
Global Biotechnology Instruments Market: By End-User
- Government & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Facilities
- Others
Global Biotechnology Instruments Market: Regional Segmentation Analysis
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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