Biotechnology Instruments Market To Reach $116.68 Billion By 2030

Biotechnology Instruments Market Growth & Trends

The global biotechnology instruments market size is expected to reach USD 116.68 billion by 2030, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.94% from 2023 to 2030. The growing advancements in life science research technologies, growing demand for personalized medicines & diagnostics tests, and rising R&D for drug & vaccine developments for diseases, such as cancer, collectively propel the market growth. The demand for POC diagnostics is projected to be driven by factors, such as increasing government initiatives to establish outpatient care models for shortening hospital stays and the rising need for POC devices in home & healthcare settings to address the needs of the elderly population.

In addition, the expansion of the biotechnology industry can be linked to various factors including the introduction of new & innovative products, agreements, acquisitions, technological advancements, and growing adoption across different applications. In May 2023, NeoDx Biotech Labs, an Indian startup, launched 7 real-time PCR-based kits to diagnose infectious diseases, such as Hepatitis C, Hepatitis B, and HIV, at various hospitals and diagnostic centers. Similarly, in January 2023, Bio-Rad announced the launch of a real-time PCR system, CFX Opus Deepwell Dx, which is FDA-approved for IVD testing. Thus, these technological launches are projected to impel the market growth over the period. In addition, companies are launching new products to facilitate better and more advanced sequencing technology.

For instance, in April 2023, Biomodal, formerly known as Cambridge Epigenetix, announced the launch of the duet multiomics solution. This new multiomics sequencing technology is projected to highlight the synergistic potential of genetic and epigenetic insights extracted from a single low-volume sample. Moreover, the solution is one of the first single-base-resolution sequencing technologies, which enables simultaneous, phased reading of both genetic and epigenetic details from a single sample. This increases applications of the technology in unified workflows alongside any sequencing platforms. The increasing adoption of technological advancements in sequencing techniques is anticipated to impel market growth.

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Biotechnology Instruments Market Report Highlights

• Based on product, the analytical instruments segment dominated the market in 2022 with a share of 61.92%

• The growing demand for advanced drug development, biomarker discovery, and quality control across pharmaceuticals is anticipated to fuel the segment growth over the forecast period

• Based on end-use, the pharmaceutical & biotechnological companies segment held the largest market share of 38.10% in 2022

• This can be attributed to the increased number of drug therapies for various diseases, such as cancer, vaccine developments, and designing diagnostic tools for disease monitoring & detection

• In 2022, North America dominated the market with a share of 43.95% owing to the presence of major players and robust healthcare infrastructure

Biotechnology Instruments Market Segmentation

Grand View Research has segmented the global biotechnology instruments market based on product, end-use, and region:

Biotechnology Instruments Product Outlook (Revenue, USD Million, 2018 - 2030)

• Analytical Instruments

  • Polymerase Chain Reaction

  • Spectroscopy

  • Microscopy

  • Chromatography

  • Flow Cytometry

  • Sequencing

  • Microarray

  • Others

• Cell Culture Instruments

  • Culture Systems

  • Incubators

  • Cryostorage Equipment

  • Biosafety Equipment

  • Pipetting Instruments

• Cell Separation Instruments

  • Centrifuge

  • Filtration Systems

  • Magnetic-activated Cell Separator Systems

• Immunoassay Instruments

• Clinical Chemistry Analyzers

• Others

Biotechnology Instruments End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical & Biotechnology Companies

• Hospitals & Diagnostic Laboratories

• Academic & Research Institutes

• Others

Biotechnology Instruments Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Biotechnology Instruments Market

• 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.