NEW YORK, United States, Jan. 27, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Biotechnology Instruments Market Product (Lab Automation Instruments, Life Science Consumables, IVD Instruments, and Medical Lasers), and End-User (Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2026” in its research database.
“According to the latest research study, the demand of global Biotechnology Instruments Market size & share was valued at approximately USD 41,006.2 Million in 2020 and is likely to grow at a CAGR of 12.66% and is anticipated to reach around USD 80,051.1 Million by 2026.”
Report Overview:
Bioinstrumentation refers to the use of biomedical engineering that is focusing on the devices and mechanics, which are used in measuring, evaluating, and treating biological systems. The biotechnology instruments market across the globe has witnessed major growth in recent years, mostly due to the immense increase in demand for biotechnology products for the making of personalized medicine.
Such a promising field of medicine that aims to serve consumers via medicines produced by keeping in mind every individual’s biological makeup and getting rid of the negative effects, which might result from mass-produced medicines, is likely to be one of the key customers of biotechnology products in the forthcoming years. Moreover, the growing use of 2D and 3D cell cultures in the area of discovery and manufacture of novel drug compounds is emerging as a major aspect propelling the global biotechnology instruments market expansion.
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Market Growth Dynamics
Industry Drivers:
High adoption of point-of-care diagnostic devices boost the market
The global market of biotechnology instruments is expected to grow at a significant growth rate during the forecast period. The high adoption of point-of-care diagnostic devices is a key growth factor that is driving the growth of the global biotechnology instruments market. Moreover, the huge increase in demand for biotechnology products for the production of personalized medicine is likely to propel the global market of biotechnology instruments in the upcoming years.
The high adoption of point-of-care diagnostic devices is also driving the market growth. Other factors attributing to the market growth include the continuous developments in research and developments that are improving the capabilities of point-of-care (POC) testing systems.
Rising incidence of a variety of chronic diseases globally
Besides, the rising incidence of a variety of chronic diseases worldwide, the demand for personalized medicines is anticipated to fuel the market growth during the forecast period. This, in turn, will boost market development in the coming years.
Key Insights:
- Market Size & Forecast by Revenue | 2023−2026
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Product, by End-User, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 41,006.2 Million |
| Projected Market Size in 2026 | USD 80,051.1 Million |
| CAGR Growth Rate | 12.66% CAGR |
| Base Year | 2020 |
| Forecast Years | 2023-2026 |
| Key Market Players | Agilent Technologies, Becton Dickinson, and Company, Abbott, Alcon Inc., AngioDynamics, Bio-Rad Laboratories, BioMerieux SA, BioTek Instruments Inc., Cynosure LLC, Candela Medical, Endress+Hauser (Analytik Jena GmbH), Danaher Corporation, IIlumina Inc., F. Hoffmann-La Roche Ltd., IRIDEX, Merck KGaA, Lumenis, and others |
| Key Segment | By Product, By End-User, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Segmentation Analysis
The global biotechnology instruments market has been segmented into product and end-user.
On the basis of product, the global biotechnology instruments market has been classified into lab automation instruments, life science consumables, IVD instruments, and medical lasers. In terms of the end-user industry, the global biotechnology instruments market has been bifurcated into government & academic institutes, pharmaceutical & biotechnology companies, hospitals & healthcare facilities, and others.
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Regional Analysis
Geographically, the biotechnology instruments market can be segmented into North America, Asia-Pacific, Europe, the Middle East, and Africa, and Latin America.
North America is expected to contribute the largest revenue share
North America is contributing to the largest revenue share due to the increase in demand and affordability of biotechnology instruments. Moreover, the tendency to manual mechanization in the pharmaceuticals, biotechnology, and associated industries in this region is driving the demand for superior instruments for effortlessness and accelerating the process. In addition, the rising government support for research and development is also projected to enhance the regional market expansion.
The Asia-Pacific biotechnology instruments market is estimated to be the highest increasing regional market in the forthcoming years as a result of major factors such as the quick improving economy as well as the rising investments in the biotechnology segment.
Competitive Players
The major market players covered in the global biotechnology instruments market include Agilent Technologies, Becton Dickinson, and Company, Abbott, Alcon Inc., AngioDynamics, Bio-Rad Laboratories, BioMerieux SA, BioTek Instruments Inc., Cynosure LLC, Candela Medical, Endress+Hauser (Analytik Jena GmbH), Danaher Corporation, IIlumina Inc., F. Hoffmann-La Roche Ltd., IRIDEX, Merck KGaA, Lumenis, Perkin Elmer Inc., Novanta Inc., Siemens Healthineers, QIAGEN, Waters Corporation, Tecan Group AG, Zimmer MedizinSysteme GmbH, and Thermo Fisher Scientific Inc., and among others.
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Browse the full “Biotechnology Instruments Market Product (Lab Automation Instruments, Life Science Consumables, IVD Instruments, and Medical Lasers), and End-User (Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2026” Report at https://www.fnfresearch.com/biotechnology-instruments-market
This report segments the global biotechnology instruments market as follows:
This report segments the global biotechnology instruments market as follows:
By Product
- Lab Automation Instruments
- Life Science Consumables
- IVD Instruments
- Medical Lasers
By End-User
- Government & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Facilities
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Key Insights from Primary Research
- According to analysis, the Biotechnology instruments market is likely to grow with a CAGR of approximately 12.66% between 2023 and 2026.
- The global biotechnology instruments market was valued at around USD 41,006.2 Million in 2020 and is expected to reach USD 80,051.1 Million by 2026.
- North America is projected to dominate global biotechnology instruments market growth on the basis of region.
Key Questions Answered in this Report:
- What is the size of the biotechnology instruments market and what is its expected growth rate?
- What are the primary driving factors that push the biotechnology instruments market forward?
- What are the biotechnology instruments industry’s top companies?
- What are the different categories that the biotechnology instruments market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the biotechnology instruments market sample report and company profiles?
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Browse Other Related Research Reports from Facts & Factors
Browse All Other Biotechnology Industry Research Reports from Facts & Factors – https://www.fnfresearch.com/category/biotechnology
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