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Biotechnology Instruments Market

Biotechnology Instruments Market

Biotechnology Instruments Market Analysis by Component (Lab Automation Instruments, Medical Lasers, Life Science Consumables), by End-use, by Region - Global Forecast 2022-2032

Biotechnology Instruments Market
FACT7171MR
  • Mar-2022
  • List of Tables : 54
  • List of Figures : 114
  • 170 Pages
  • Healthcare

Biotechnology Instruments Market outlook

The global sales of Biotechnology Instruments in 2021 was held at US$ 46.1 Bn. With 16.4%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Life Science Consumables is expected to be the highest revenue generating component, while Hospitals and Healthcare facilities is considered to be the highest revenue generating end-use with a CAGR of 15.2% and 14.7% respectively during 2022 – 2032.

The widespread use of point-of-care diagnostic equipment is a key driver for the industry. R&D breakthroughs have continuously improved the capabilities of point-of-care (POC) testing systems. New equipment provides a diverse range of tests that may be employed in a variety of healthcare settings. New POC devices enable real-time transfer of test findings to patients' electronic medical records for simple viewing by clinicians. The systems have also been developed to be easily adaptable to changes in laboratory rules. An increase in the prevalence of chronic illnesses, such as infectious diseases (such as COVID-19), cardiovascular disorders, diabetes, cancer, and others, is also predicted to drive market growth.

Key Points Covered in Biotechnology Instruments Industry Survey:

  • Market Estimates and Forecasts (2017-2032)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • COVID-19 Impact on Biotechnology Instruments and How to Navigate
  • Recommendation on Key Winning Strategies

Revenue of Biotechnology Instruments from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Biotechnology Instruments industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2015 to 2021, market value of the Biotechnology Instruments industry increased at around 14.9% CAGR, wherein, countries such as the U.S., China, U.K., Japan and South Korea held significant share in the global market.

The increase in the incidence of disorders that require surgical treatment, particularly minimally invasive surgery (MIS) promises industry's expansion, which will assist the dermatological instruments market gain momentum in the future years. Owing to this, Biotechnology Instruments market is projected to grow at a CAGR of 14.4% over the coming 10 years.

  • The Biotechnology Instruments market reached a valuation of US$ 53.3 Bn in 2022 owing to which the worldwide revenues was up by 12.6% year-over-year. With the global surge in the incidence of a wide range of chronic illnesses, the need for tailored medications is projected to skyrocket in the coming years. This will also be a key growth factor for the global market for biotechnology instruments, as the requirement for human resources capable of meeting the increased demand for biotechnology goods is predicted to skyrocket.
  • Fact.MR estimates that Biotechnology Instruments revenue will grow 4.5X from 2022 to 2032, reaching nearly US$ 241.4 Bn in 2032.
  • Biotechnology Instruments revenue through Life Science Consumables will account for majority share and due to a growth in demand for in vitro diagnostic (IVD) point-of-care devices in clinical labs and hospitals, the Hospitals and Healthcare facilities sector is likely to dominate the market throughout the forecast period.

Which Developments are propelling the Biotechnology Instruments Demand?

Nanopore sequencing is being used by researchers and scientists from both centralised and decentralised labs. The goal is to accelerate the exchange of sequencing data from SARS-Co V-2. Researchers have been working to release sequenced genomes including GISAID and GenBank on public databases. This endeavour has been undertaken largely for the purpose of analysing public health responses. The rising number of coronavirus infections has led in the expansion of laboratory capability to sequence genomes from diverse samples. As a result of these measures, the biotechnology instruments market is expected to enjoy tremendous growth prospects.

Furthermore, the development of medical lasers has made available flexible and sophisticated technology. This project has actually changed the application of these lasers away from their primary use. These lasers, for example, are utilized to remove or cut crucial therapeutic approaches in order to restore damaged portions or parts of the body. Automation is expected to gain traction in the biotechnology area, contributing to the growth of the lab automation segment. As a result of these technical breakthroughs, the biotechnology instruments industry has grown.

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How Challenges Faced by Biotechnology Industry Affecting the Biotechnology Instruments Industry?

The rising public concern over genetically modified crops and their negative consequences on human health is impeding the use of biotechnology tools. The slight possibility of some hazardous viruses and bacteria leaking from research facilities is a source of concern, casting doubt on the efficiency of biotechnology devices. The popularity of biotechnology instruments has resulted in the creation of several counterfeit instruments that might pose a risk when handling some hazardous bacteria, hence impeding the growth of the biotechnology Instruments market.

Furthermore, while biotechnology instruments are being used to generate vaccinations, the same instruments may be used to create deadly viruses, which can have a significantly detrimental influence on human health and cause a massive economic disaster. The use of biotechnology instruments in the agricultural sector has the potential to spread crop diseases and contaminate the native gene pool of certain crop species, limiting the growth of the Biotechnology Instruments Market over the forecast period.

Region-wise Analysis

Which Region is projected to Offer the Largest Opportunity for Biotechnology Instruments?

With over 15.6% projected growth rate, Biotechnology Instruments revenue is expected to grow at fastest pace in North America. Because of the increased demand for and affordability of biotechnology equipment, North America accounts for the biggest revenue share. Furthermore, the trend toward manual mechanisation in the pharmaceutical, biotechnology, and related sectors in this region is pushing the demand for improved equipment for ease of use and speed. Besides, growing government assistance for research and development is expected to boost regional market expansion.

Because of the presence of many of the world's major biotechnology and pharmaceutical businesses, North America and Europe are important markets for biotechnology instruments. North America is also home to some of the world's largest biotech institutions, which are constantly doing research in the field of gene expression, resulting in significant potential prospects for the biotechnology instrumentation market. These regions are projected to stay at the forefront of the worldwide biotechnology instrumentation market in the coming years as well, providing huge development and expansion potential for organisations looking to enter this highly profitable industry.     

Owing to the considerable increase in research and development activities in the biotech industry, developing economies in countries such as Latin America and Asia Pacific are likely to lead to massive potential prospects for the market. The R&D arms of major multinational pharmaceutical corporations in these regions are also likely to fuel the industry growth.

An Adaptive Approach to Modern-day Research Needs

Category-wise Insights

Why Life Science Consumables Account for a Humongous Share in Biotechnology Instruments Market?

Life Science Consumables is the key Component with an estimated CAGR of 15.2% while Hospital and Healthcare Facilities is the Top End-use with an estimated CAGR of 14.7% in Biotechnology Instruments Market. It also commands over 50% market share in the biotechnology instruments market. New PCR Test kit launches is one of the prominent drivers of this market segment. Covid-19 has further opened the opportunity window for RT-PCT test kits, consequently driving the demand of biotechnology instruments.   

Competitive Analysis

According to the market research analysis, partnerships and expansion have been the prominent development in Biotechnology Instruments market in recent years.  Abbott, Agilent Technologies, Alcon, Inc., AngioDynamics, Becton, Dickinson and Company, BioMerieux SA, Bio-Rad Laboratories, BioTek Instruments, Inc., Candela Medical, Cynosure, LLC., Danaher Corporation, Endress+Hauser (Analytik Jena GmbH), F. Hoffmann-La Roche Ltd., IIlumina Inc., IRIDEX, Lumenis, Merck KGaA, Novanta, Inc., Perkin Elmer, Inc., QIAGEN, Siemens Healthineers, Tecan Group AG, Thermo Fisher Scientific, Inc., Waters Corporation, Zimmer MedizinSysteme are the prominent providers of Biotechnology Instruments services.

The leading players in the biotechnology instruments market have been implementing various tactics to increase growth potential in the next years. Furthermore, the presence of many rising and well-established firms has defined the market for biotechnology instruments. Well-known market participants are pursuing a variety of tactics, including acquisitions, mergers, and new product releases.

Some of the recent developments of key Biotechnology Instruments providers are as follows:

  • In January 2021, Sartorius Stedim Biotech purchased Novasep's chromatography process equipment segment. Its chromatography product offering includes enhanced chromatography systems and resin-based batch for multi-use applications such as oligonucleotides, small molecules, insulin, and peptides.
  • In February 2021, Waters Corporation launched a next-generation liquid chromatography system-Waters ACQUITY PREMIER Solution. It features the company's breakthrough MaxPeak High-performance Surface technology.
  • In July 2021, Lumenis introduced MOSES 2.0 Next-Generation Holmium Laser Technology. This launch was intended to increase the efficacy of urinary stones and the enlarged prostate operation. This is feasible because to laser energy transfer improvement. Furthermore, increased investment initiatives aid many companies in expanding their market footprints.

Similarly, recent developments related to companies offering Biotechnology Instruments have been tracked by the team at Fact.MR, which are available in the full report.

Biotechnology Instruments Market Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Japan
  • China
  • India
  • Brazil
  • Mexico
  • South Africa
  • Saudi Arabia

Key Market Segments Covered

  • Component
  • End-use
  • Region

Key Companies Profiled

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

Pricing

Available upon Request

Market Segments Covered in Biotechnology Instruments Industry Analysis

  • 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

- FAQs -

The Global Biotechnology Instruments market is worth more than US$ 53.3 Bn at present.
Value of Biotechnology Instruments are projected to increase at a CAGR of around 16.4% during 2022– 2032.
Value of Biotechnology Instruments increased at a CAGR of around 14.9% during 2017 – 2021.
One of the key trends in Biotechnology Instruments market includes that their providers have been expanding their geographical footprint.
The increasing need for point-of-care (POC) tests and devices, the rising prevalence of target illnesses and elderly population, the benefits of laser therapy, and technical advances are key drivers driving the biotechnology instruments market expansion.
Top 5 countries driving demand for Biotechnology Instruments are the U.S., China, U.K., Japan and South Korea.
US will accounted for over 30% of global Biotechnology Instruments demand in 2032 with a CAGR of 15.6%
The market for Biotechnology Instruments is projected to expand at a CAGR of around 16.4% during 2022 – 2032 with the global market size of US$ 241.4 Bn
While the market in South Korea is expected to grow at nearly 21.5%, the market in Japan is projected to register a CAGR of nearly 19.0% during 2022 - 2032

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