Analytical Instrumentation Market Size, Share & Trends Analysis Report By Technology (PCR, Spectroscopy), By Application (Forensic Analysis, Life Sciences R&D), By Product (Instruments, Services), And Segment Forecasts, 2023 - 2030

Report Overview

The global analytical instrumentation market was valued at USD 53.42 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.53% by 2030. Analytical instrumentations are laboratory tools that are used to study the identification, separation, and quantification of chemical substances of natural and artificial materials. These analytical instruments are used to obtain quantitative and qualitative information about the presence of one or more components in a given sample. Such instruments also have a variety of applications in clinical diagnostics and life sciences research for the development of novel diagnostic and therapeutic products.

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.

Pharmaceutical and biotechnology industries are major end-users of analytical instrumentation owing to extensive R&D activities in the industry, in which these tools are widely used in all stages of drug development. Key pharmaceutical companies are rigorously involved in R&D activities and heavily invest in new product development. For instance, Pfizer Inc. pharmaceutical spent USD 13.829 billion on R&D in 2021, an increase of 47.23% over 2020. Similarly, Roche Holding AG spent USD 16.192 billion on R&D in 2021, a rise of 16.69% over the previous year. Such increasing R&D spending and rising adoption of instruments in R&D activities are anticipated to drive the market in the future.

Moreover, companies are developing sophisticated technologies to encounter the increasing demand and capture untapped opportunities in the industry. For instance, in May 2022, Tosoh Bioscience launched TSKgel UP-SW30000-LS size exclusion chromatography with shortened analysis time for the identification of impurities in biotherapeutics. Similarly, in December 2020, Agilent Technologies Inc., launched a novel ICP-MS instrument, the Agilent 7850 ICP-MS System. The system is combined with smart software that brings advanced capabilities to routine ICP-MS laboratories. Thus, technological advancements in analytical instrumentation are expected to fuel the industry's growth.

Furthermore, growing interest in precision medicine is likely to boost the adoption of analytical instrumentation products during the forecast period. Precision medicine uses analytical instrumentation for molecular imaging, molecular diagnostics, molecular dynamics, and next-generation sequencing to diagnose diseases and develop tailored treatments. Molecular diagnostics involves the analysis of a patient’s biomarkers through genomic sequencing. Such analyses performed using various analytical instruments reveal information about the most effective treatment or can predict drugs that are best suited for an individual. In addition, microscopy instruments, such as cryogenic electron microscopy, are extensively used in drug discovery to gain insights into 3D structures of biological entities, such as proteins.

Product Insights

The instruments segment held the largest share of more than 54.90% of the overall revenue in 2022 owing to the presence of a high number of companies offering different types of analytical instrumentations, such as mass spectrometers, chromatographs, sequencers, and microscopes. Moreover, key players are expanding their instrumentation portfolio with the addition of new products. For instance, in June 2020, Shimadzu Corp. released an LCMS-8060NX liquid chromatography-mass spectrometer with enhanced operability and robustness. Similarly, in September 2020, Ibsen Photonics released a new and advanced OEM spectrometer known as PEAK XNIR, which features DLP Pico technology from Texas Instruments.

Such initiatives undertaken by major companies are expected to positively impact revenue generation in the market. The software segment is anticipated to grow at the fastest CAGR during the forecast years. Software is commonly used for data analysis and interpretation of results in analytical procedures in a variety of areas, such as academic research & clinical diagnosis. For instance, flow cytometry software is used to acquire & control the data generated, analyze the information, and perform statistical analysis of the results. Such software capabilities are likely to boost segment growth over the forecast period.

Technology Insights

The polymerase chain reaction(PCR) segment held the largest share of 24.22% in 2022. The technology offers several benefits, such as rapid amplification, the requirement of a small amount of sample, and utility for the detection of various diseases. PCR enables higher levels of amplification of specific sequences and more sensitive detection in less time as compared to other traditional methods, making the technique significantly useful for basic & commercial purposes, including forensics, genetic identity testing, in vitro diagnostics, and industrial quality control. In clinical laboratories, real-time PCR offers various benefits, such as simultaneous analysis of multiple genes, lower reagent costs, the ability to provide internal controls, and preservation of samples for tumor profiling.

Such applications of the technology in various fields are fueling segment growth. The sequencing segment is projected to grow at the highest CAGR over the forecast period. Sequencing technology can be used to determine the order of nucleotides in small targeted entire genomes or genomic regions. The key sequencing methods are DNA sequencing, RNA sequencing, high-throughput sequencing, and methylation sequencing. Sequencing technology has a variety of applications in cancer research, microbiology research, complex disease research, and reproductive health. In cancer research, NGS-based sequencing methods allow scientists to detect circulating DNA fragments, rare somatic variants, and tumor clones. Hence, extensive applications of sequencing in multiple areas are boosting segment growth.

Application Insights

The life sciences research & development segment captured the highest share of 46.66% of the overall revenue in 2022. The increasing prevalence of chronic and infectious diseases is the key factor leading to a rise in R&D activities by various life sciences industries to develop and manufacture novel biologics, such as monoclonal antibodies, vaccines, and therapeutic proteins. Analytical tools, such as liquid chromatography, mass spectroscopy, and UV-Vis spectroscopy, are used in the characterization of antibodies. Furthermore, therapeutic proteins require an extensive analysis of their chemical composition, which can be performed by using analytical instrumentation, such as HPLC, capillary electrophoresis, and mass spectroscopy. Such applications of analytical instrumentation in life sciences research & development are driving the segment growth.

The clinical & diagnostics analysis segment is anticipated to grow at the fastest CAGR over the forecast period. The increasing incidence of cancer and chronic diseases has resulted in high demand for diagnostic tests, which, in turn, is likely to increase the demand for analytical instrumentation products, such as flow cytometers for clinical testing. Furthermore, approval and launch of novel analytical instrumentation for clinical laboratories are anticipated to boost segment growth. For instance, in June 2022, Dxcover Ltd. introduced the Dxcover instrumentation platform that transforms Attenuated Total Reflectance Fourier Transform Infrared (ATR-FTIR) spectroscopy for the early detection of multiple cancers. This enables high-speed, low-cost, and sensitive detection of samples.

Regional Insights

North America held the largest share of more than 45.75% of the overall revenue in 2022. This large share can be attributed to a well-established healthcare system and pharmaceutical industry in the region, which has created a significant demand for analytical instrumentation for clinical and research purposes. Extensive R&D initiatives being undertaken for developing vaccines & therapeutics for various diseases and increasing public-private investments in the field of cancer research have also fueled the need for these tools. In addition, continuous advancements in analytical instrumentation and high affordability & adoption of innovative and advanced instrumentation in the region make it a lucrative market.

The Asia Pacific region, on the other hand, is projected to register the fastest growth rate from 2023 to 2030. This rapid growth can be attributed to the extensive growth in the pharmaceutical and biotechnology industries of emerging economies, such as China and India. In addition, the ongoing government support for developing the pharmaceutical sector in developing countries is likely to boost the market growth in this region. Constant innovations in the fields of cancer & infectious illnesses, such as COVID-19, are also expected to drive the growth of the regional market.

Key Companies & Market Share Insights

The industry is growing at a rapid pace due to the multiple strategic initiatives by key players. For instance, in July 2022, Waters Corp. entered into collaboration with 50 leading industry partners and researchers of the Plant Protein Innovation Center at the University of Minnesota. Waters researchers will work with PPIC scientists to use ACQUITY Premier UPLC System for the development of a workflow for quantitative analysis of plant-based proteins. Some of the prominent key companies involved in the global 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.

Analytical Instrumentation Market Report Scope

Global Analytical Instrumentation Market Segmentation

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 2030. For this study, Grand View Research has segmented the global analytical instrumentation market report based on product, technology, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Instruments

  • Services

  • Software

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Polymerase Chain Reaction

  • Spectroscopy

  • Microscopy

  • Chromatography

  • Flow Cytometry

  • Sequencing

  • Microarray

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Life Sciences Research & Development

  • Clinical & Diagnostic Analysis

  • Food & Beverage Analysis

  • Forensic Analysis

  • Environmental Testing

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait