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Analytical Instrumentation Market Projected to Witness USD 66.27 Billion Revenues by 2027 – Exclusive Report by Mordor Intelligence

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Analytical Instrumentation Market Projected to Witness USD 66.27 Billion Revenues by 2027 – Exclusive Report by Mordor Intelligence

June 29
03:07 2022
Analytical Instrumentation Market Projected to Witness USD 66.27 Billion Revenues by 2027 - Exclusive Report by Mordor Intelligence
Mordor Intelligence
Life sciences account for the largest share in the analytical instrument industry, representing a quarter of the entire industry. Life sciences comprise more than 13 individual technology segments, encompassing a wide range of applications using analytical tools such as spectrometry, atomic spectroscopy, and molecular spectroscopy, among others.

Analytical Instrumentation Market Overview

The analytical instrumentation market was valued at USD 43.2 billion in 2021, and it is projected to be worth USD 66.27 billion by 2027, registering a CAGR of 7.52% during the forecast period, 2022-2027. The increasing concern for product quality, increasing investments in R&D, and stringent government regulations are the major factors driving the growth of the analytical instrumentation market. Increasing customer awareness, especially in emerging regions, and the need for analytical instruments across multiple sectors are expected to expand the market growth.

Automation across the end-user industries fueled the development in the market studied. Companies developing batteries for electric vehicles, mobile phones, energy systems, and other systems rely on analytical instruments to enhance storage potential and output, creating a more efficient, cleaner, and safer energy source. Companies use electron microscopy technologies to understand structures that level down at the atomic scale, along with spectroscopy tools to discover critical changes in materials that cause defects and inefficiency.

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Healthcare Segment Boosting Analytical Instrumentation Market

  • The biopharmaceutical industry is also playing a significant role in the development of the market studied. With a rising emphasis on pharmaceuticals’ quality production, the bioprocessing sector is also emerging as a substantial investor in the market studied. In January 2022, Fujifilm announced to add 89,000 sq. ft of laboratory space at its North Carolina facility, which will feature analytical instrumentation, high throughput bioprocessing equipment, and automation technologies to support the process characterization program. This expansion will also allow Fujifilm Diosynth Biotechnologies to support its partners further in guiding clinical process development that can create more robust commercial processes.
  • Drug discovery and clinical research require various complex diagnostic instruments, analytical instruments, advanced medical devices, testing equipment, and many other specialized products. The COVID-19 pandemic has resulted in significant demand in the market due to the growing need for accelerated research and public expectations of unprecedented progress from the scientific community.

Analytical Instrumentation Market – Geographical Overview

The demand for analytical instrumentation has been growing significantly in the Asia-Pacific region. Specifically, these products have been utilized in the region to address climate change, an aging population, food production, and newer energy sources. Analytical instrumentation vendors have also responded to the market demand via distribution by local companies and direct sales. Also, due to the trade tensions between the United States and China, multiple companies have shifted some of their production and supply chains to countries outside of China to circumvent disruption in business operations.

Countries such as India have also been one among the emerging markets in the analytical instrumentation industry owing to higher investment in testing and R&D activities. The growing awareness among the country’s expanding end-user industries is also driving investment in the market studied. Therefore, the analytical instruments market in the country has been witnessing exponential growth since the turn of the century. However, in the past 2-3 years, the pace of growth has slowed down to high single digits, and ever-thinning margins impact the industry. Procurement pressures from government organizations and the private sector are taking a toll on the companies’ bottom lines, though top lines are still growing.

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Developments in the Analytical Instrumentation Market

  • November 2021 – Agilent Technologies announced the introduction of the NanoDisSystem for nanoparticle dissolution testing. Combining Agilent instrumentation and software to enable customers to meet 21 CFR Part 11 and other regulations through its application, the new NanoDisSystem delivers a dedicated workflow that is automatable and auditable.
  • November 2021- Thermo Fisher Scientific announced the launch of its new mass spectrometry (MS) instruments, workflows, and software, which the company showcased at the 69th American Society for Mass Spectrometry (ASMS) Conference on Mass Spectrometry and Allied Topics.

Related Research and Links

List of Key Players in the Analytical Instrumentation Market

  • Agilent Technologies Inc.
  • Bruker Corporation
  • PerkinElmer Inc.
  • Thermo Fisher Scientific Inc.
  • Shimadzu Corporation
  • Malvern Panalytical Ltd (Spectris Company)
  • Mettler Toledo International Inc.
  • Waters Corp.
  • Bio-Rad Laboratories Inc.

*List Not Exhaustive

Mordor Intelligence has segmented the Analytical Instrumentation Market based on product type, end-user, and geography:

  • Product Type (Market Size & Forecast based on Value (USD Billion), 2020-2027)
    • Chromatography
    • Molecular Analysis Spectroscopy
    • Elemental Analysis Spectroscopy
    • Mass Spectroscopy
    • Analytical Microscopes
    • Other Product Types
  • End-user (Market Size & Forecast based on Value (USD Billion), 2020-2027)
    • Life Sciences
    • Chemical and Petrochemical
    • Material Sciences
    • Food Testing
    • Oil and Gas
    • Water and Wastewater
    • Other End Users
  • Geography (Market Size & Forecast based on Value (USD Billion), 2020-2027)
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World

About Mordor Intelligence

Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.

We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.

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