Global Life Science & Chemical Instrumentation Market Growth, Trends, and Forecast Report 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--
The “Life Science & Chemical Instrumentation Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The global life science & chemical instrumentation market is expected to register a healthy CAGR during the forecast period. The growing investment from the pharmaceutical industry in drug discovery and development will boost the demand for life science instruments for drug validation. Additionally, growing food safety concerns, increasing public-private investments in life science research, technological advancements in analytical instruments are driving the market of life science instruments and chemicals. However, the lack of skilled professionals, the high cost of life science & chemical instrumentation is further impeding the growth of the market.
Scope of the Report
Instrumentation in Life Sciences & chemical addresses different aspects of instrumentation that hold the keys to cutting-edge research and innovative applications. Various kinds of conventional instruments have been used in the life sciences and chemistry fields. Technology for the life sciences and chemistry has advanced tremendously in the past ten years in both the public and private sectors.
Key Market Trends
Chromatography holds the major share in Life Science & Chemical Instrumentation Market
Chromatography is an analytical instrument that measures the content of various analytes in a given sample, and in many cases helps to quantify the analyte. Chromatography is mostly done to analyze compounds that can are in a liquid state, and in case of gas chromatography (GC), the analytes can be vaporized without decomposition. It is widely used to test the purity of substances or to separate a mixture into its basic components.
Chromatography has a profound use in analytical chemistry, owing to its ability to offer excellent features, like accurate separation capabilities, reproducibility, and quicker separation. Chromatography method is used in many pharmaceutical applications, such as identifying the amount of chemical in drugs. The increased use of chromatography tests in drug approvals and rising support from the government in the form of funds are considered to contribute to the market growth over the forecast period.
North America is the largest growing region
In North America, chemical instrumentation technology is used in many applications. Chemical instrumentation has proven to be an effective technology for final production testing, pharmaceutical applications, environmental monitoring, and food testing, among others. Other factors propelling the growth of North America life science and chemical instrumentation market, include increasing need for drug discovery, rising prevalence of chronic diseases, and augmented demand for rising food safety concerns.
Moreover, the increasing focus on the development of new and improved drug assessment techniques, to discover highly complex drugs, has played a vital role in the evolution of innovative chemical methods in the region, which further drives the North America life science and chemical instrumentation market.
Market players in life science and chemical instrumentation market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions, mergers, and partnerships. While only a few companies are coming forward with innovative technologies and new product launches.
For instance, in February 2018 - Bruker Corporation acquired IRM2, a developer of high-speed infrared (IR) imaging microscopes based on quantum cascade laser (QCL) technology and in June 2017 - Bio-Rad Laboratories, Inc. announced the launch of CFX Maestro Software for CFX Real-Time Instruments, a complete workflow solution for real-time PCR data collection and analysis.
Porter’s Five Force Analysis
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INDUSTRY KEYWORD: OTHER SCIENCE SCIENCE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 12/20/2019 05:29 AM/DISC: 12/20/2019 05:28 AM