New York City, NY, 29 April, 2020/ 24 Market Reports: It is estimated for the global life science instrumentation market to reach USD 60.0 billion in 2020 to USD 79.9 billion by 2025, at a CAGR of 5.9% during the forecast period. Increasing expenditure on research & development by pharmaceutical & biotechnology companies, growing public & private funding for life science research and rising incidence of target diseases & genetic disorders are driving the market during the forecast period.
Next-generation sequencing segment is expected to grow at the highest rate during the forecast period
Based on technology, the life science instrumentation market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies.
The next-gen sequencing (NGS) segment is expected to grow at the highest CAGR during the forecast period, attributed to the advantages offered by NGS technologies in DNA sequencing, which substantially provides more throughput and minimizes the need for fragment-cloning methods. In addition, continuous technological advancements and the increasing availability of cheaper sequencing platforms is expected to fuel the growth of life science instrumentation market during the forecast period.
Research application segment to contribute at the highest rate in the market during the forecast period
The research application segment accounted for the largest share of the life science instrumentation application market in 2019. The large share of the research applications segment can be attributed to evolving global regulatory scenarios for research data publication in analytical instruments-based researches, an increasing number of research studies coupled with growing public-private funding in the field of genomic researches, and the ongoing trend of laboratory automation & integration of robotics.
Asia Pacific region to dominate the market throughout the forecast period
Asia Pacific region is estimated to lead the market during the forecast period. strategic expansions by key market players in emerging Asian countries, the growing pharmaceutical industry in India & China, and conferences, exhibitions, & meetings on analytical instruments are the driving factors that are boosting the growth of the market during the forecast period.
Major Industry outlook Of Life Science Instrumentation Market
