Northrook, IL -- (SBWIRE) -- 02/19/2020 -- The growth of this Life Science Instrumentation Market is majorly driven by increasing spending on pharmaceutical R&D, rising food safety concerns, technological advancements in analytical instruments, and the availability of funding for life science research. The growing proteomics market, rising environmental safety concerns, increasing demand for analytical instruments from various industries, and huge demand in emerging nations for life science instruments offer high growth opportunities for market players.

The global life science instrumentation market is expected to reach USD 75.24 billion by 2022 from USD 54.49 billion in 2017, at a CAGR of 6.7%.

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Based on the type of technology used in the life science industry, the global life science instrumentation market has been segmented into fourteen major categories. The report covers the following analytical technologies in the life science instrumentation market--cell counting, centrifuges, chromatography, clinical chemistry analyzers, electrophoresis, flow cytometry, immunoassays, liquid handling, lyophilization, microscopy, next-generation sequencing (NGS), PCR, spectroscopy, and other technologies (including heat sterilization, colorimeter, fume hoods, incubators, laboratory balances, laboratory freezers, microplate systems, pH meters, conductivity and resistivity meters, dissolved CO2 and O2 meters, titrators, gas analyzers, TOC analyzers, thermal analyzers, and standalone robots).

The spectroscopy segment is estimated to command the largest share of the global life science instrumentation market in 2017. This can be attributed to the widespread application of spectroscopy systems across several industries, including pharmaceutical, biopharmaceutical, food and agriculture, environmental testing, and industrial chemistry.

Each analytical technology is further segmented by its end users. The major end users of this market include pharmaceutical, biopharmaceutical, and biotechnology companies; CROs; research institutions; hospitals, clinics, and diagnostic laboratories; academic institutions; forensic science laboratories; food and agriculture industry; and environmental testing industry. Pharmaceutical, biopharmaceutical, and biotechnology companies are estimated to account for the largest share of the life science instrumentation market. Rising food and environmental safety concerns, availability of research funding for academic institutions, increasing number of criminal cases, growing number of drug discovery and development related research studies, and rising prevalence of target diseases and testing procedures related to them are pushing the demand for these analytical instruments among end users.

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Geographical Region Covered

This report covers the life science instrumentation market across four major geographies, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The large share in the North American region is mainly attributed to the large number of ongoing research activities, the presence of a large customer base, and availability of funds for drug discovery processes and life science research studies in the region. Europe is estimated to command the second-largest share of the global market. The presence of a large number of API manufacturing facilitates, growing research on biosimilars, public-private financial investments for the development of analytical instruments, and the developing pharmaceutical sector in Russia are some of the key factors driving the growth of the life science instrumentation market in Europe.

Key Players

Global life science instrumentation market was dominated by Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bruker Corporation (US), PerkinElmer, Inc. (US), and Waters Corporation (US). These companies together held a share of 48.8% of the overall life science instrumentation market.