Global Analytical Laboratory Instrument Market Size 2024, Forecast To 2033
11 Mar, 2024
The analytical laboratory instrument market size has experienced robust growth in recent years, expanding from $109.85 billion in 2023 to $118.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. This growth in the historic period is attributed to increased healthcare expenditure, economic growth in emerging markets, an aging population, and rising awareness about food testing, coupled with stringent safety regulations. Looking ahead to 2028, the market is anticipated to continue its strong trajectory, reaching $158.81 billion at a CAGR of 7.5%. Factors driving this forecasted growth include technological advances, increased healthcare access, and the rising prevalence of chronic diseases. Noteworthy trends in the forecast period encompass investments in 3D printing technology, big data analytics, automation solutions, development of 3D microscopes, M&A growth strategies, and adaptability to cloud technology for enhanced speed and efficiency.
Global Analytical Laboratory Instrument Market Key Driver
The growth of the analytical laboratory instruments market is closely tied to the rapid expansion of the life science industries. Factors such as a rising patient population grappling with lifestyle-related ailments like diabetes and heart issues, along with the prevalence of life-threatening diseases such as cancer, have fueled this growth. In 2022, the Centers for Disease Control and Prevention reported that approximately 37.3 million people in the United States, or 11.3% of the population, were affected by diabetes. Furthermore, the International Diabetes Federation highlighted that globally, around 537 million adults, with three-quarters residing in low- and middle-income countries, were dealing with diabetes as of December 2021. This surge in population dependent on life sciences is driving the necessity for lab research, increasing the demand for analytical laboratory instruments. Hence, the burgeoning life science industry is expected to propel the analytical laboratory instruments market, with values reaching $X billion in 2023, $Y billion in 2024, and an anticipated $Z billion in 2028.
Get A Free Sample Of The Global Analytical Laboratory Instrument Market ReportGlobal Analytical Laboratory Instrument Market Segments
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
By Geography:The regions covered in the analytical laboratory instrument market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
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
Major Analytical Laboratory Instrument Industry Players
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
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Analytical Laboratory Instrument Market Overview
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.
Analytical Laboratory Instrument Global Market Report 2023 provides data on the global analytical laboratory instrument market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The analytical laboratory instrument market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.