Analytical laboratory instruments are either electronic or non-electronic devices that help in assessing and analyzing samples, both qualitatively and quantitatively. Analytical laboratory instruments are used to analyze the chemical composition of a sample and the quantity of each component within a sample. These instruments are used in laboratory analysis of the chemical or physical composition or concentration of solid, liquid, gaseous, or composite material. Analytical instruments are a large class of instruments used in chemical, pharmaceutical, life sciences, food processing labs, and oil refineries for testing samples.
Sizing and Forecast
The analytical laboratory instrument market size has grown strongly in recent years. It will grow from $109.85 billion in 2023 to $118.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increases in healthcare expenditure, economic growth in emerging markets, an aging population, and rising awareness about food testing and stringent regulations for safety.
The analytical laboratory instrument market size is expected to see strong growth in the next few years. It will grow to $158.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to factors including technological advances, increase in healthcare access and rising prevalence of chronic diseases. Major trends in the forecast period include investing in 3d printing technology, big data analytics, automation solutions, investing in the development of 3d microscopes, m&a growth strategies and adaptability to cloud technology for higher speed and efficiency.
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Segmentation & Regional Insights
The analytical laboratory instrument market covered in this report is segmented –
1) By Type: Element Analysis, Separation Analysis, Molucular Enalysis, Other Types
2) By Application: Research, Clinical, Diagnostic, Other Applications
3) By End-User: Hospitals, Diagnostic Laboratories, Pharmaceutical, Biotechnology, Other End-users
Asia-Pacific was the largest region in the analytical laboratory instruments market in 2023. North America was the second-largest region in the global analytical laboratory instrument market share. The regions covered in the analytical laboratory instrument market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapid growth in life science industries contributed to the growth of the analytical laboratory instruments market. A growing patient population suffering from lifestyle-related problems such as diabetes and heart-related problems, and other life-threatening diseases such as cancer and growing investment in research and development, and an increasingly aged population aided the growth in the life science industry. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Additionally, for instance, in December 2021, according to the International Diabetes Federation, a Belgium-based leading global diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. This rapid growth in population depending on the life sciences market will increase the necessity to conduct lab researches that require analytical laboratory instruments thereby increasing the demand for laboratory instruments. Therefore, the growing life science industry is expected to drive the market for analytical laboratory instruments.
Key Industry Players
Major companies operating in the analytical laboratory instrument market report are Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Shimadzu Corporation, F. Hoffmann-La Roche AG, Bruker Corporation, Mettler-Toledo International Inc., Waters Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., Scientific Solutions, Metrohm AG, SUEZ Water Technologies and Solutions, Ionicon Analytik Ges.m.b.H., AMETEK Spectro Scientific, Elvatech Ltd., Myron L Company, LabGeni, LABOAO, Agilent Technologies Co. Ltd, QIAGEN, Yamato Scientific co. Ltd., Ace Instruments & Services Pvt Ltd., Aczet Pvt Ltd, Anton Parr India Pvt Ltd, Toshvin Analytical Pvt. Ltd., Advance Scientific Equipment Pvt. Ltd., Peak Scientific Instruments, Thermo Fisher Scientific K.K., AMETEK Inc., Spectris plc, Specac Limited, Markes International Ltd, Signal Group Ltd, NanoMagnetics Instruments Ltd, Sherwood Scientific Ltd, Malvern Panalytical, Cleaver Scientific Ltd, MRC, Cole-Parmer Instrument Company Ltd, Anton Paar Ltd., BWB Technologies Ltd, Systech Instruments Ltd, Appleton Woods Ltd, PAC L.P., A.KRÜSS Optronic GmbH, F-DGSi, Grant Instruments, Seaward Electronic Ltd, Endress+Hauser, Nanosurf, WITec GmbH, ZEISS Group, Sartorius AG, Eppendorf, Stable Micro Systems, Bruker OOO, ECROSKHIM Co. Ltd., Keithley Equipment, Laboratory Equipment and Instruments (LOIP), Agilent Ukraine, Rostec, Agilent Technologies, Bio-Rad Laboratories, Chemglass Life Sciences Inc., Kimble Chase, SP Industries, Bruker, Teledyne Tekmar, PerkinElmer, Spectro Scientific, AMETEK Process Instruments, Saifi International Co., National Scientific Co. Ltd., Ghiath Mohammad Kaki Est., BDH Middle East LLC, Maa Scientific International LLC, Tungsten Analytical Testing Equipment Trading LLC, RotaLab, SEM GROUP, Rhenium, CSI Analytical Innovations, Silicol-Silicol Scientific Equipment Ltd, Analytik Jena AG, Labotec, Wirsam Scientific, Labex (PTY) Ltd., Labstock (Nigeria) Limited, Estec Ltd
The analytical laboratory instrument market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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