Biotechnology Instruments Market to Register 16.4% CAGR Amid Growing Preference for Minimally Invasive Surgical Treatments

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Apr 07, 2022, 09:30 ET

Increasing Funds for Biotechnology and Pharmaceutical Research to Steer Biotechnology Instruments Market Past US$ 241.4 Bn by 2031

The biotechnology instruments market report published by Fact.MR provides in-depth market analysis and focused views on key trends projected to influence the sales in the market. It also explicates the growth factors, latest developments, opportunities, and threats in the market across key geographies and segments, including component and end-use.

NEW YORK, April 7, 2022 /PRNewswire/ -- The biotechnology instruments market is projected to exceed US$ 53.3 Bn, at a CAGR of 16.4% during the forecast period (2022-2032). Sales of biotechnology instruments is projected to grow by 4.5x between 2022 and 2032, surpassing US$ 241.4 Bn in 2032.

Growing incidences of chronic illnesses and preference for minimally invasive surgeries is projected to boost the demand for personalized medication in the forthcoming years. This is likely to spur the sales of biotechnology instruments.

Similarly, application of in-vitro diagnostic (IVD) point-of-care devices in clinical labs and hospitals is surging. This is projected to create favorable growth prospects for the market.

Also, the advanced point-of-care (POC) testing systems will enable real-time transfer of patient data to electronic medical records for easy clinician reviewing. These advancements are projected to propel the demand for biotechnology instruments in the coming years.

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Demand for surgical treatment, such as minimally invasive surgery (MIS), due to the increasing prevalence of diseases is estimated to rise. This is anticipated to fuel the demand in the market.

Further, integration of automation in biotechnology sector is projected to result in technical breakthroughs. This is expected to offer tremendous growth opportunities for the market players. Also, favorable government investment in the development of affordable and easy-to-use biotechnology equipment is estimated to supplement the development of the market.

Report Attributes	Details
Base Year Value (2021A)	US$ 46.1 Bn
Estimated Year Value (2022E)	US$ 53.3 Bn
Projected Year Value (2032F)	US$ 241.4 Bn
Global Growth Rate (2022-2032)	CAGR 16.4%

Key Takeaways:

Based on end-use, the hospitals and healthcare facilities segment is expected to dominate the market, registering a CAGR of 15.2% and 14.7%, respectively.
North America biotechnology instruments market is expected to register fastest growth at 15.6% CAGR during 2022-2032.
In terms of component, life science consumables is projected to account for 50% of the overall market share.
Biotechnology instruments market registered year-over-year growth at 12.6% in 2022.

Growth Drivers:

Increasing prevalence of cardiovascular disorders, diabetes, infectious diseases, cancer, and others will contribute to the growth in the market.
Requirement of 2D and 3D cell cultures in the field of research and drug development is augmenting the sales of biotechnology instruments.

Restraints:

Growing concerns regarding genetically modified crops, viruses, & bacteria and their impact on human health might hamper the growth in the market.
Implementation of biotechnology instruments in the agricultural sector is likely to trigger the spread of diseases or native contaminate the original gene pool. This is anticipated to decline the sales in the near future.

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Competitive Landscape:

Key players present in the global biotechnology instruments market are focusing on advancing their production capabilities. These initiatives are likely spur the growth potential of the market in the coming years.

According to Fact.MR, the detailed analysis of companies will offer insights into the financial status, latest product launches, ongoing trends, and others. Some of the leading players are adopting growth strategies such as mergers and acquisitions to expand their global presence.

For instance,

February 2021: Waters Corporation developed Waters ACQUITY PREMIER Solution, which is a next-generation liquid chromatography system. This device promotes the organization's innovation MaxPeak High-performance Surface technology.
January 2021: Novasep's chromatography process equipment segment was brought by Sartorius Stedim Biotech. This deal help the latter gain control over the former organization's advanced chromatography systems and resin-based batch.

Key Companies Profiled by Fact.MR

Agilent Technologies
Alcon Inc.
Bio-Rad Laboratories
Candela Medical
IIlumina Inc.
Thermo Fisher Scientific Inc.
AngioDynamics
Abbott
Danaher Corporation
QIAGEN
Novanta Inc.
IRIDEX
Becton, Dickinson, and Company
BioMerieux SA
BioTek Instruments, Inc.
Cynosure, LLC
Endress+Hauser (Analytik Jena GmbH)
Zimmer MedizinSysteme
F. Hoffmann-La Roche Ltd.
Lumenis
Merck KGaA
Perkin Elmer, Inc.
Siemens Healthineers
Waters Corporation
Tecan Group AG

More Valuable Insights on Biotechnology Instruments Market

In the latest study, Fact.MR provides focused views on growing opportunities and challenges of the global biotechnology instruments market. The report also offers unbiased analysis for the forecast period (2022-2032). This survey also reveals the key factors influencing the growth of the biotechnology instruments market through segmentation as follows:

By Component:

Lab Automation Instruments

Proteomics
Genomics
Sequencing
Spatial Cell Analysis
Other Lab Automation Instruments

Medical Lasers

Therapeutics
Ophthalmic
Ablation

Life Science Consumables

IVD Instruments

By End-use:

Government & Academic Institutes
Pharmaceutical & Biotechnology Companies
Hospitals & Healthcare Facilities
Other End-uses

By Region:

North America
Latin America
Europe
APAC
MEA

Key Questions Covered in the Biotechnology Instruments Market Report

What is the sales forecast of the global biotechnology instruments market?
Who are the prominent global biotechnology instruments market?
Which region is predicted to account for maximum share in the global biotechnology instruments market?
What is expected revenue share of biotechnology instruments market in 2022?
Which are the key factors shaping the growth in the global biotechnology instruments market?
What is the expected value of global biotechnology instruments market during 2022-2032?

Explore Fact.MR's Coverage on the Healthcare Domain

DNA Polymerase Market: Demand for accuracy during the process of sequencing, cloning, or mutagenesis is projected to increase the demand for effective PCR enzymes. This is anticipated to create prolific opportunities for the market. Besides this, the increasing investments in the research & development (R&D) activities will augment the demand in the coming years.

Polymerase Chain Reaction Market: Emergence of diseases such as COVID-19 is projected to create immense opportunities for the market. Also, the accuracy of PCR techniques in the diagnosis of disease-causing microbes is likely to fuel the development of the market.

Biotechnology and Pharmaceutical Services Outsourcing Market: Rise in the number of contrarieties in intellectual property rights and fraudulent cases is likely to compel the biotechnology and pharmaceutical companies to adopt consulting services. Such causes are predicted to boost the growth in the market.

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