Life Science Instrumentation and Research Tools Driving Transformational Growth through Automation Global, 2023 2029

Revenue Forecast

The revenue estimate of the base year is $71.20 billion and the CAGR for the study period is 7.4%.

The Impact of the Top 3 Strategic Imperatives on the Life Science Instrumentation and Research Tools Industry

Disruptive Technologies

Why

Novel technologies like advanced microscopy, gene editing (CRISPR), and next-generation sequencing (NGS) expand research areas and allow new studies and discoveries. The companies integrating these technologies into their portfolios have great growth potential.

Frost Perspective

Manufacturers are focused on developing emerging technologies, such as portable sequencers, gene editing tools, and computing platforms, that are easy to use, automated, and generate high-quality data. There is also a greater demand for integrated instruments, software, and service solutions for workflow optimization.

Innovative Business Models

Why

Life science research is becoming more expensive while budgets are becoming more limited. In this scenario, traditional sales approaches to instruments and equipment are inefficient. There is an urgent need for new business models that can provide access to novel technologies without requiring the purchase of all the equipment.

Frost Perspective

The market is focused on reaching a wider range of institutions and researchers, giving traction to innovative business models. Some companies are offering subscription services, pay-per-use plans, and cloud-based data analysis tools to enhance access and affordability.

Geopolitical Chaos

Why

Geopolitical chaos in the form of recessions, wars, and regional conflicts is causing supply chain disruptions in manufacturing and logistics delays. These developments are also causing currency fluctuations, putting pressure on budgets, and leading to talent shortages.

Frost Perspective

This makes it more challenging and expensive for companies to operate in the market, decreases research & development (R&D) funding from public and private institutions, and discourages investment in new equipment. The global context results in increased prices and hinders scientific advancements and innovation.

Segmentation

Life Science Instrumentation and Research Tools

Technology

• NGS
• PCR
• Microarrays
• Flow Cytometry
• Mass Spectrometry
• Others

Product Type

• Lab Instrument/ equipment
• Reagents & Consumables
• Lab Automation & Software

Vertical Industry

• Pharma & Biopharma
• Government & Academia
• Clinical Diagnostics

Region

• North America
• Europe
• APAC
• Latin America
• MEASA

Competitive Environment

Key Competitors

Global

• Thermo Fisher Scientific
• Agilent Technologies
• Danaher Corporation
• Bio-Rad Laboratories
• Abbott Technologies
• Sartorius AG
• Merck KGaA
• Illumina
• Beckton Dickinson (BD)
• Hitachi High-Technologies Corporation
• Shimadzu Corporation
• Bruker Corporation
• Waters Corporation
• Johnson & Johnson
• Metller-Toledo International
• BGI Group
• Roche Diagnostics

North America

• PacBio
• Revity
• Promega Corporation
• Covance
• Horizon Discovery
• Incyte
• Integer Holdings Corporation
• Intuitive Surgical
• Molecular Devices
• Arrayit Corporation
• LECO
• Automata Technologies
• SiliCycle
• Verve Therapeutics
• LabWare
• LabVantage

Europe

• Eppendorf AG
• bioMérieux
• Qiagen N.V.
• Spectris
• Tecan Group Ltd.
• QIAGEN GmbH
• Zeiss Group
• Malvern Panalytical
• Uppsala Bionanotech AB
• Axetis AG
• Diasorin S.p.A.
• IDEX Health & Science SA
• Element Biosciences
• Oxford Nanopore Technologies
• Analytik Jena
• Miltenyi Biotec
• Apogee Flow Systems

APAC

• MGI Tech Co
• Horiba
• JEOL
• Nikon
• Rigaku Corporation
• Royston Industries Limited
• Seegene Inc.
• CapitalBio
• Evident Corporation

Latin America and the Middle East, Africa, and South Asia (MEASA)

• Kavis
• SOL-BAT
• Kasarah
• Labtech
• Labserve
• El Sewedy Medical Supplies
• Laborex