Global Scientific Instruments Market, By Types (Laboratory Analytical Instruments and Consumables, Measuring and Monitoring Devices), Application (School Laboratory, Scientific Research Institution, Government Institutes and Academic, Industrial, Other)– Industry Trends and Forecast to 2029
Market Analysis and Size
Growth in the research and development sector is expected to drive the growth of market. Some of the other factors such as rise in collaborations between government and the manufacturer, rising research projects and studies, increasing amount of testing and research facilities generally in the field of biotechnology and therapeutic, and growing demand from the food and beverage and automotive industry will additionally accelerate the scientific instruments market in the forecast period of 2020 to 2029.
Data Bridge Market Research analyses that the Scientific Instruments market which was USD 39.4 billion in 2021, would rocket up to USD 53.51 Billion by 2029, and is expected to undergo a CAGR of 3.9% during the forecast period of 2022 to 2029. This indicates that the market value. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Types (Laboratory Analytical Instruments and Consumables, Measuring and Monitoring Devices), Application (School Laboratory, Scientific Research Institution, Government Institutes and Academic, Industrial, Other)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Thermo Fisher Scientific, Inc. (US), Promega Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Abcam plc (UK), Lonza Group (Switzerland), 3M (US), Danaher Corporation (US), PromoCell GmbH (Germany), Geno Technology, Inc. (US), Abnova Corporation (Taiwan), AAT Bioquest (US), BioThema AB (Sweden), Elabscience Biotechnology Inc. (US), MBL International Corporation (US), Biotium (US), Creative Bioarray (US), Canvax Biotech S.L. (Spain), Ruhof Corporation (US), Charm Sciences, Inc. (US), Bio Shield Tech LLC (US), Cayman Chemical (US), and Cell Signaling Technology (US)
Scientific instruments are strategies that are used for representing, determining, and recording physical quantities. These devices are designed such that they can help in attaining technical determinations for examination of novel products. These tools are an important characteristic for novel product expansion, and remodeling of the remaining products. The scientific purpose that can be proficient using these devices includes natural phenomena and hypothetical research. Moreover, these apparatus can be used for investigation purposes, particularly in determining, analyzing, and confirming the unproven properties and quantities of a material or an element.
Scientific Instruments Market Dynamics
- Rise in R&D sector for newer product expansion
Scientific instruments can be used to measure, analyze, and verify the belongings of the newly innovative products, especially from the pharmaceutical and biotechnology sectors. Increase in collaborations between government and manufacturer to create effective means of development of scientific gadgets will help the growth of the scientific instruments market.
- Growth of various research projects and studies
This is anticipated to help the scientific tools market make higher revenue in the coming years. Furthermore, increase in the number of challenging and research facilities mainly in biotechnology and pharmaceutical. Also, the quick progression in new areas of study, such as neuroscience and applied microbiology, has led to the growing obligation for better analysis equipment, thereby strengthening the industry growth.
- Growing product promotional activities
Vendors in the instruments market can no longer depend on through sales force actions to ensure constant sales growth, and they must discover extra ways to endorse their products. Other factors such as rising government-industry collaborations, rising research projects and studies, growing number of testing and research facilities, primarily in the biotechnology and pharmaceutical industries, and rising demand from the food, beverage, and automotive industries will accelerate the scientific instruments market in the forecast period of 2022 to 2029.
- Compliance issues
Security actions are defined by governing establishments that require monitoring at an structural level in numerous productions such as pharmaceuticals, biotechnology, F&B, and chemicals to ensure the manufacture and sale of a safe product. Though these businesses are understaffed and under continuous work pressure, adherence and obedience to regulatory procedures become difficult. This inherently leads to the production of contaminated products, which has an adversative effect on the lives of patients or customers.
This scientific instruments market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Scientific Instruments market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Scientific Instruments Market
According to World Health Organization (WHO), on January 30, 2021 declared COVID-19 outbreak, a public health emergency of international concern. The scientific instruments can support bringing up new products that can be used in the therapeutics of various chronic diseases. Though, workforce shortages as well as resource limitations due to COVID-19 are expected to adversely impress the growth of the industry during the forecast period. In addition, the rise in severe government guidelines concerning the lockdowns has led to the decrease in the market's growth. Furthermore, the need of the hour is to bring up newer products that can help combat with the start of COVID-19 virus.
Global Scientific Instruments Market Scope
The scientific instruments market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Clinical and Diagnostics
- Hospitals and Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
Scientific Instruments Market Regional Analysis/Insights
The scientific instruments market is analysed and market size insights and trends are provided by country, type, application and end-user as referenced above.
The countries covered in the scientific instruments market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to account for a substantial share of the global scientific instruments market during the forecast period 2022 to 2029. The market is anticipated to grow in the future, owing to a surge in healthcare expenditure and a rise in the region's patient populace.
Asia-Pacific is expected to gain fastest CAGR during the forecast period of 2022 to 2029, owing to large patient population and growth in infrastructural development in the region. In adding, the administration investment over R&D of the instruments would drive the growth of the scientific instruments market in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The scientific instruments market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Scientific Instruments market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the scientific instruments market. The data is available for historic period 2010-2020.
Competitive Landscape and Scientific Instruments Market Share Analysis
The scientific instruments market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to scientific instruments market.
Some of the major players operating in the scientific instruments market are:
- Thermo Fisher Scientific, Inc. (US)
- Promega Corporation (US)
- Merck KGaA (Germany)
- Agilent Technologies, Inc. (US)
- Abcam plc. (UK)
- Lonza (Switzerland)
- 3M (US)
- Danaher (US)
- Geno Technology, Inc. (US)
- Abnova Corporation (Taiwan)
- AAT Bioquest, Inc. (US)
- BioThema AB (Sweden)
- EC21 Inc. (US)
- MBL International Corporation (US)
- Biotium (US)
- Creative Bioarray (US)
- Ruhof Corporation (US)
- Charm Sciences, Inc. (US)
Research Methodology: Global Scientific Instruments Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.