Analytical Instrumentation Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type (Chromatography, Molecular Analysis Spectroscopy, Elemental Analysis Spectroscopy, Mass Spectroscopy, Analytical Microscopes, and Others); Application (Life Sciences, Chemical and Petrochemical, Material Sciences, Food Testing, Oil and Gas, Water & Wastewater, and Others); Region (North America, Europe, Asia-Pacific, Rest of the World); and Region/Country
The global analytical instrumentation market is expected to grow at a significant rate of around 7% during the forecast period. Analytical Instrumentation is the study of the separation, identification, and quantification of chemical components of natural and artificial materials. The strict government regulations over environmental safety and increasing efforts to control pollution as analytical instruments helps in the chemical analysis of pollutants are among the important factors that drive the market growth of analytical instruments. Additionally, market of analytical instrumentation also propelled by the rising demand from chemical industries in the purification and extraction of chemical compound from mixture.
Agilent Technologies Inc., Bruker, Perkin Elmer Inc, ThermoFisher Scientific, Shimadzu Corporation, Malvern Panalytical Ltd, Mettler Toledo, Waters Corporation, Bio-Rad Laboratories Inc., and Danaher are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Type, Molecular Analysis Spectroscopy category to witness higher CAGR during the forecast period”
Based on the product type, the market has been categorized into chromatography, molecular analysis spectroscopy, elemental analysis spectroscopy, mass spectroscopy, analytical microscopes, and others. Among them, the molecular analysis spectroscopy segment is expected to grow at a considerable rate in the market. Molecular spectroscopy allows the qualitative detection of organic compounds or surrounding functional groups. Due to the ability to perform detailed chemical analyses, the adoption of molecular spectroscopy is increasing at a significant rate.
“Amongst Applications, life sciences segment to hold a higher CAGR during the forecast period”
Based on the application, the market has been categorized into life sciences, chemical and petrochemical, material sciences, food testing, oil and gas, water and wastewater, and others. Among them, the life science segment holds considerable growth in the market, and it is expected to grow at a significant CAGR during the forecast period. The rising adoption of biosimilar drugs, increasing patient expiration, and frequent product launches & approvals of biopharmaceutical drugs attributes to the growth of life science segment. For instance, in September 2022, FDA approved Vegzelma, it is an anti-cancer biosimilar drug which is used to treat colon, breast, and lung cancer.
“Asia Pacific to witness the fastest growth in the market”
For a better understanding of the market adoption of the analytical instrumentation industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. The major factors such as rapid industrialization and rising pharmaceutical production in the region are the important reasons for the growth of the market in the region. For instance, as per the National Investment Promotion & Facilitation Agency, the pharmaceutical industry in India is expected to reach $65 bn by 2024 and $120 bn by 2030.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Analytical Instrumentation market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Analytical Instrumentation Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global analytical instrumentation market were the three major steps undertaken to create and analyze the adoption of analytical instrumentation in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global analytical instrumentation market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the analytical instrumentation market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the analytical instrumentation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the analytical instrumentation market. Further, we conducted factor analysis using dependent and independent variables such as the product type and application of analytical instrumentation. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Analytical Instrumentation market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global analytical instrumentation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the analytical instrumentation market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global analytical instrumentation market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Analytical Instrumentation market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type and application in the global analytical instrumentation market.
The main objective of the Global Analytical Instrumentation Market Study
The current & future market trends of the global analytical instrumentation market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the analytical instrumentation market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product type and application.
- Define and analysis of the regulatory framework for the analytical instrumentation industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the analytical instrumentation market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the analytical instrumentation market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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