Scientific Instrument Market Trends, Drivers, Growth Opportunities, Challenges, and Investment Opportunities
The global scientific instrument market is driven by the increasing number of research activities, especially in the pharmaceutical and biotechnology sectors.
(EMAILWIRE.COM, August 02, 2019 ) As per the latest report by IMARC Group, titled “Scientific Instrument Market Research Report and Forecast 2019-2024”, the global scientific instrument market size reached US$ 33 Billion in 2018. Scientific instruments refer to laboratory equipment utilized for measuring, analyzing, and verifying the properties of an element or material. They generally include ammeter, hydrometer, photometer, barometer, phonograph, chromometer and galvanometer that aid in examining the chemical and physical viabilities of materials which are further utilized for research purposes. These instruments widely used in a diverse range of industries, including life sciences, pharmaceuticals, biotechnology, and material sciences.
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Global Scientific Instrument Market Trends:
One of the primary factors that are impelling the growth of the scientific instrument market is the increasing number of research and testing facilities, particularly in the pharmaceutical and biotechnology fields. This is further supported by investments in the healthcare sector by governments of numerous countries, owing to the aging population and the growing demand for generics and biosimilars. In line with this, pharmaceutical companies are striving to improve their drug development process as well as enhance the product quality, which is creating the need for high-quality scientific instruments. Furthermore, an increase in stringent environment regulations across the globe has provided a boost to the sales of measurement equipment for emission level control and compliance, particularly in the industrial sector. Apart from this, the rapid advancement in new areas of research, such as applied microbiology and neuroscience, has resulted in the requirement of better analysis equipment, which in turn, is significantly strengthening the market growth. Moreover, the growing collaborations and partnerships among manufacturers and education and research institutions have spurred the market growth. Looking forward, the market value is projected to reach US$ 42 Billion by 2024, expanding at a CAGR of around 4% during 2019-2024.
Explore full report with table of contents: https://www.imarcgroup.com/scientific-instrument-market
Key Market Segmentation:
Market Breakup by End-Use:
1. Industrial
2. Government Institutes
3. Academics
Based on the end use, the market has been segregated into industrial, government institutes and academics. At present, the industrial segment accounts for the majority of the total market share.
Market Breakup by Type:
1. Scientific Clinical Analyzers
2. Scientific Analytical Instruments
On the basis of the type, the market has been bifurcated into scientific clinical analyzers and analytical instruments. Currently, scientific clinical analyzers represent the most popular scientific instrument across the globe.
Market Breakup by Region:
1. North America
2. Europe
3. Asia Pacific
4. Middle East & Africa
5. Latin America
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, North America dominates the market, holding the largest market share.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Agilent, Bruker, Danaher, Horiba, Thermo Fisher, Waters, Roche, Perkin Elmer and Merck.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Request for a free sample copy of this report: https://www.imarcgroup.com/scientific-instrument-market/requestsample
Global Scientific Instrument Market Trends:
One of the primary factors that are impelling the growth of the scientific instrument market is the increasing number of research and testing facilities, particularly in the pharmaceutical and biotechnology fields. This is further supported by investments in the healthcare sector by governments of numerous countries, owing to the aging population and the growing demand for generics and biosimilars. In line with this, pharmaceutical companies are striving to improve their drug development process as well as enhance the product quality, which is creating the need for high-quality scientific instruments. Furthermore, an increase in stringent environment regulations across the globe has provided a boost to the sales of measurement equipment for emission level control and compliance, particularly in the industrial sector. Apart from this, the rapid advancement in new areas of research, such as applied microbiology and neuroscience, has resulted in the requirement of better analysis equipment, which in turn, is significantly strengthening the market growth. Moreover, the growing collaborations and partnerships among manufacturers and education and research institutions have spurred the market growth. Looking forward, the market value is projected to reach US$ 42 Billion by 2024, expanding at a CAGR of around 4% during 2019-2024.
Explore full report with table of contents: https://www.imarcgroup.com/scientific-instrument-market
Key Market Segmentation:
Market Breakup by End-Use:
1. Industrial
2. Government Institutes
3. Academics
Based on the end use, the market has been segregated into industrial, government institutes and academics. At present, the industrial segment accounts for the majority of the total market share.
Market Breakup by Type:
1. Scientific Clinical Analyzers
2. Scientific Analytical Instruments
On the basis of the type, the market has been bifurcated into scientific clinical analyzers and analytical instruments. Currently, scientific clinical analyzers represent the most popular scientific instrument across the globe.
Market Breakup by Region:
1. North America
2. Europe
3. Asia Pacific
4. Middle East & Africa
5. Latin America
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, North America dominates the market, holding the largest market share.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Agilent, Bruker, Danaher, Horiba, Thermo Fisher, Waters, Roche, Perkin Elmer and Merck.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Information:
IMARC Services Pvt. Ltd.
Richard Lewis
Tel: 6317911145
Email us
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IMARC Services Pvt. Ltd.
Richard Lewis
Tel: 6317911145
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results