Analytical Instrumentation Market Size, Share & Trends Analysis Report By Technology (PCR, Spectroscopy), By Application (Forensic Analysis, Life Sciences R&D), By Product (Instruments, Services)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global analytical instrumentation market size was exhibited at USD 53.69 billion in 2022 and is projected to hit around USD 76.03 billion by 2032, growing at a CAGR of 3.54% during the forecast period 2023 to 2032.

Key Pointers:

• The instruments segment held the largest share of more than 54.90% of the overall revenue in 2022.
• The polymerase chain reaction (PCR) segment held the largest share of 24.29% in 2022. 
• The life sciences research & development segment captured the highest share of 46.70% of the overall revenue in 2022. 
• North America held the largest share of more than 45.79% of the overall revenue in 2022. 
• The Asia Pacific region, on the other hand, is projected to register the fastest growth rate from 2023 to 2032. 

Analytical Instrumentation Market Report Scope

Analytical laboratory instrumentation includes a broad range of instruments with the main purpose of quantitative and qualitative analysis of samples. Increasing research and development activities in the pharmaceutical and biotechnology industries and increasing adoption of analytical instrumentation for applications in precision medicine are key factors driving the industry. Governments from various countries are continuously investing in pharmaceutical R&D to support new drug development and improve healthcare in their regions.

For instance, in October 2020, the UAE government announced the provision of financial incentives to support Indian healthcare manufacturing companies with robust R&D capabilities. The announcement was made at the UAE-India Healthcare Conference 2020 and was intended to promote partnerships and collaborations between the two countries for pharmaceutical, healthcare, medical devices, and alternative medicine. Such initiatives will boost R&D activities, which, in turn, will support market growth. The COVID-19 pandemic led to a decrease in the sales of analytical instruments, such as spectroscopy and chromatography-related instrumentation, thermal analyzers, and others in 2020.

This was due to the imposition of lockdown strictures, disruption of supply chains, and a decrease in clinical trial activities during the period. However, due to the pandemic, instrumentation related to a polymerase chain reaction (PCR), microarray, and sequencing technologies saw a significant rise in demand in 2021. Several new PCR products were launched to tackle the increasing COVID-19 cases during this period. For instance, in March 2022, Roche launched its new cobas 5800 system in the U.K. to increase testing volumes and enhance the operational efficiency of COVID-19 testing. Moreover, technological advancements are also leading to a reduction in analysis time and are increasing the medical applications of analytical instrumentation.

For instance, in June 2021, Trivitron Healthcare launched its NANO H5 & NANO H110 HPLC analyzers intended for the detection of HbA1c in less than 3 minutes. These HPLC-based HbA1c analyzers can also aid in monitoring hemoglobin variants, thalassemia, and diabetes. Furthermore, key players are launching novel analytical instrumentation for microplastic analysis. For instance, in October 2022, Agilent Technologies, Inc. launched its enhanced 8700 LDIR Chemical Imaging System with Clarity 1.5 software optimized for the analysis of microplastics in environmental samples. The advances in analytical instruments include enhanced spectral acquisition, speed of analysis, transformation, and library matching.

These technological advancements can significantly aid in increasing the adoption of analytical instrumentation and fuel market growth. On the other hand, the high cost of analytical instrumentation may restrain the industry growth during the projected timeframe. Spectrometry has a high initial setup cost; the mass spectrometers, LC/MS systems, cost around USD 40,000 to USD 200,000, depending on the technology, requirement, and analysis. Such high costs may not be affordable for small- and medium-sized laboratories, which hampers the market growth. However, to overcome the cost-associated factors, various companies and organizations are undertaking initiatives to provide analytical instruments at affordable prices. For instance, Thermo Fisher Scientific offers Mass Spectrometer Price Affordability Programs in which the company helps buy mass spectrometry instruments at affordable prices.

Some of the prominent players in the Analytical Instrumentation Market include:

• Thermo Fisher Scientific, Inc.
• Waters Corp.
• Shimadzu Corp.
• Danaher
• Agilent Technologies, Inc.
• Bruker Corp.
• PerkinElmer, Inc.
• Mettler Toledo
• Zeiss Group
• Bio-Rad Laboratories, Inc.
• Illumina, Inc.
• Eppendorf SE
• F. Hoffmann-La Roche AG
• Sartorius AG
• Avantor, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Analytical Instrumentation market.

By Product 

• Instruments
• Services
• Software

By Technology 

• Polymerase Chain Reaction
• Spectroscopy
• Microscopy
• Chromatography
• Flow Cytometry
• Sequencing
• Microarray
• Others

By Application 

• Life Sciences Research & Development
• Clinical & Diagnostic Analysis
• Food & Beverage Analysis
• Forensic Analysis
• Environmental Testing
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)