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Analytical Instrumentation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Analytical Instrumentation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • January 2022
  • 143 pages
  • ID: 6227796
  • Format: PDF
  • Mordor Intelligence LLP

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The analytical instrumentation market was valued at USD 43.21 billion in 2021 and is expected to reach USD 63.56 billion by 2027, at a CAGR of 7.56% forecast period 2022 to 2027. The increasing concern for product quality, increasing investments in R & D, and stringent government regulations are major factors driving growth in the global analytical instrumentation market. Increasing customer awareness, especially in emerging regions and the need for analytical instruments across multiple sectors, is expected to expand the forecast period’s market growth. In recent years, the growth in the market studied was primarily driven by factors, such as government initiatives for pollution control and environmental testing, especially in developing countries, increasing investments in pharmaceutical R&D worldwide, stringent regulations on drug safety, increasing focus on the quality of food products, expansion of crude and shale gas production, and technological advancements in mass spectrometers.

Key Highlights
Automation across the end-user industries has also fueled the development in the market studied. Companies developing batteries for electric vehicles, mobile phones, energy systems, and other systems rely on analytical instruments to enhance storage potential and output, creating a more efficient, cleaner, and safer energy source. Companies use electron microscopy technologies to see structures at levels down to the atomic scale and spectroscopy tools to discover critical changes in materials that cause defects and inefficiency. Elemental analysis spectrometers are finding applications in environmental, petrochemical, food safety, metallurgical, geochemical, and clinical/toxicology research applications. These products are widely used in markets, such as China, India, and Latin America, to support compliance with increasingly stringent international environmental and consumer safety regulations.
Elemental analysis spectrometers are finding applications in environmental, petrochemical, food safety, metallurgical, geochemical, and clinical/toxicology research applications. These products are widely used in markets, such as China, India, and Latin America, to support compliance with increasingly stringent international environmental and consumer safety regulations.
The biopharmaceutical industry is also playing a significant role in the development of the market studied. With a rising emphasis on pharmaceuticals’ quality production, the bioprocessing sector is also emerging as a substantial investor in the market studied.
The recent COVID-19 outbreak resulted in significant demand in the market studied. The need for accelerated research has been significantly increased during the COVID-19 outbreak, and the public expects unprecedented progress from the scientific community. In May 2020, UK-based market vendor, Malvern Panalytical, opened its APAC Application Center of Excellence in China. With this opening, the company mainly supports a rebound of business from the COVID-19 lockdown in China. According to the company, the center provides sample measurements for customers and also enables corresponding measurement solution development and professional technical consulting services, including core service functions: instrument demonstration; customer, employee, talent training; project cooperation, and method development.

Key Market Trends

Chromatography is Expected to Hold Major Share

Gas chromatography is increasingly finding applications for food safety testing, quantitative screening of environmental samples, and complex molecular analysis. In March 2020, the US-based Thermo Scientific collaborated with the Denmark-based company, Evosep, to launch an automated ultra-high-throughput plasma protein profiling platform, combining the power of the new Thermo Scientific Orbitrap Exploris 240 mass spectrometer with the Evosep One liquid chromatography solution.
Liquid chromatography is increasingly finding applications in complex proteomic analyses to routine industrial quality control and quality assurance (QC/QA). Ion chromatography (IC) applications are majorly used in environmental testing, scientific research, and quality control in pharmaceutical, food and beverage, and other industrial processes.
Market players are introducing new solutions in the market by integrating with innovative technologies. For instance, in February 2021, Waters Corporation launched Waters ACQUITY PREMIER Solution, the next-generation liquid chromatograph featuring the company’s MaxPeak High-Performance Surface (HPS) technology. This solution leverages HPS to improve analytical data quality and eliminate time-consuming and costly passivation.
Because of concerns about the COVID-19 pandemic and the recent US CDC guidance that recommends canceling the meetings, Labmate announces the cancellation of PREP2020. PREP2021 is planned to be held at the Hyatt Regency Inner Harbor Hotel in Baltimore, USA, on June 6-10, 2021. More than ever, perhaps, there is a clear need for the science and technology required to rapidly develop and produce safe and effective therapeutic drugs and vaccines. PREP Symposium plays a vital role in this pursuit by bringing together the very best academic and industrial scientists and engineers and the very best technology suppliers in the field of preparative and process chromatography.

North America is Expected to Hold Major Share

The North American region has been spending a significant amount on R&D in multiple industries, owing to the presence of robust infrastructure in the United States and Canada, and holds a prominent share in oil and gas, life sciences, pharma, and biopharma industries, materials sciences.
The United States has also witnessed a significant demand for analytical instruments for precision medicine and biotechnology applications. According to the Drug Trail Snapshot Report, published by the FDA, more than 27% of the patients participating in drug trials were identified to be of Asian or Hispanic origin. The FDA suggests that only 40% of all clinical trial patients were from the United States. This scenario is expected to create considerable demand for analytical instruments for various applications over the forecast period.
Moreover, according to the Pharmaceutical Manufacturers Association (PMA), it was estimated that a major portion of this R&D expenditure (about 26%) is spent on Phase I, II, and III clinical trials for making the clinical trials one of the most critical life sciences applications in the country.
Further, according to NIH, total clinical research funding by the National Institutes for Health (NIH) for FY 2020 was around USD 17.61 billion in the United States and is expected to reach USD 18.32 billion by 2022. Such increasing activity in the clinical trial applications is expected to keep clinical trials as one of the primary sources for the demand for analytical instruments in the life sciences application.

Competitive Landscape

The analytical instruments market is fragmented and is home to numerous primary and smaller vendors depending on the location. The major vendors in the market garner more in-depth product portfolios are catering to different customer requirements, whereas smaller vendors operate in niche segments providing customizations and customer-specific orders. Key players include Agilent Technologies, Inc, Malvern Panalytical Ltd (Spectris Company), PerkinElmer Inc., Thermo Fisher Scientific, Shimadzu Corporation, etc.

November 2021- Thermo Fisher Scientific announced the launch of its new mass spectrometry (MS) instruments, workflows, and software, which the company showcased at the 69th American Society for Mass Spectrometry (ASMS) Conference on Mass Spectrometry and Allied Topics.

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