Biotechnology Instruments Market

Biotechnology Instruments Market Outlook (2022-2032)

The global biotechnology Instrument market is likely to be valued at US$ 53.3 Billion in FY 2022, up from US$ 46.4 Billion in 2021.

During the past year, the industry registered a Y-o-Y increase worth 14.9%. From 2022 to 2032, biotechnology instruments sales are poised to flourish at a CAGR of 16.4% to reach a value of US$ 244 Billion by the end of 2032.

Report Attributes	Details
Anticipated Base Year Value (2021)	US$ 46.4 Billion
Expected Market Value (2022)	US$ 53.3 Billion
Projected Forecast Value (2032)	US$ 244 Billion
Global Growth Rate (2022-2032)	16.4% CAGR
Growth Rate of the North America Market (2022-2032)	15.6% CAGR
Expected Market Value of Asia Pacific (2032)	US$ 40 Billion
Europe Market Expansion Rate (2022-2032)	12.1% CAGR
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.

Demand for Life Science Consumables Biotechnology Instruments will continue to thrive, with a documented CAGR of 15.2% during the 2015-2021 historical period of assessment, while demand for Biotechnology Instruments in hospitals & healthcare facilities proliferated at a rate of 14.7% during the same period.

2015 to 2021 Biotechnology Instruments Market Revenue Analysis vs. Market Outlook 2022-2032

As per the Biotechnology Instruments industry research by Fact.MR - market research and competitive intelligence provider, historically, from 2015 to 2021, the 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 a significant share in the global market.

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

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$ 244 Billion in 2032.

Key Drivers Stimulating Biotechnology Instruments Industry Expansion

Key developments propelling the demand for Biotechnology Instruments consist of Nanopore sequencing which is being used by researchers and scientists from both centralized and decentralized 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 endeavor has been undertaken largely to analyze public health responses. The rising number of coronavirus infections has led to 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 changed the application of these lasers away from their primary use. These lasers, for example, are utilized to remove or cut crucial therapeutic approaches 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.

Key Challenges 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

How Opportunistic are Growth Prospects across the North America Market?

With over 15.6% projected growth rate, biotechnology instruments revenue is expected to grow at the fastest pace in North America. Because of the increased demand for and affordability of biotechnology equipment, North America accounts for the biggest revenue share of more than 40%.

Furthermore, the trend toward manual mechanization 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.

Fact.MR forecasted that the valuation of the North American Biotechnology Instruments market is expected to reach US$ 60.5 Billion by 2032, estimated at nearly US$ 12.3 Billion in 2021.

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.

Why are Biotechnology Instruments Providers Venturing into the Asia Pacific?

Owing to the considerable increase in research and development activities in the biotech industry, developing economies in countries such as Latin America and the Asia Pacific is 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.

Based on these aspects, the APAC Biotechnology Instruments market is poised to exceed US$ 40 Billion through 2032, following a CAGR of 14% over the forecast period. During the historic outlook, the market value is estimated at nearly US$ 9.4 Billion in 2021.

Region-wise Value CAGRs for Biotechnology Instruments (2022-2032)

North America	15.6%
Asia Pacific	14%
Europe	12.1%

Category-wise Insights

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

Life science consumables are the key component with an estimated CAGR of 15.2%. It also commands over 50% market share in the biotechnology instruments market.

New PCR Test kit launches are 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 for biotechnology instruments.

By End Use, which Biotechnology Instruments are expected to Dominate?

Niche biotechnology-derived drugs require the use of new cell culture techniques, as well as state-of-the-art instruments and manufacturing processes. The growing prominence of biopharmaceuticals has, consequently, increased the demand for faster and safer biotechnology equipment.

Expensive production costs, supply chain issues, novel manufacturing techniques, and regulatory inspection are some of the foremost challenges that biotechnology companies face when developing biopharmaceuticals.

Refining operational efficiency by making the best possible usage of the equipment and implementing new and flexible systems such as hybrid systems will aid biopharmaceutical companies to advance their product innovation and reduce costs. This segment is likely to exhibit an annual growth rate of nearly 14.2% until 2032.

Competitive Landscape

Prominent providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

• In January 2021, Sartorius Stedim Biotech purchased Novasep's chromatography process equipment segment. Its chromatography product offering includes enhanced chromatography systems and resin-based batches 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 enlarged prostate operation. This is feasible because of laser energy transfer improvement. Furthermore, increased investment initiatives aid many companies in expanding their market footprints.

Key Segments Covered in the Biotechnology Instruments Industry Survey

• Biotechnology Instruments Market by Component :

  • Biotechnology Lab Automation Instruments
    • Proteomics
    • Genomics
    • Sequencing
    • Spatial Cell Analysis
    • Other Lab Automation Instruments
  • Biotechnology Medical Lasers
    • Therapeutics
    • Ophthalmic
    • Ablation
  • Biotechnology Life Science Consumables
    • IVD Instruments

• Biotechnology Instruments Market by End Use :

  • Biotechnology Instruments for Government & Academic Institutes
  • Biotechnology Instruments for Pharmaceutical & Biotechnology Companies
  • Biotechnology Instruments for Hospitals & Healthcare Facilities
  • Biotechnology Instruments for Other End-Uses

• Biotechnology Instruments Market by Region :

  • North America Biotechnology Instruments Market
  • Latin America Biotechnology Instruments Market
  • Europe Biotechnology Instruments Market
  • Asia Pacific Biotechnology Instruments Market
  • The Middle East & Africa Biotechnology Instruments Market