This market research report presents a detailed segmentation of the global scientific instrument market by application (analytical instruments and clinical analyzers), by end users (academics, industrial users, and government institutes), and by geography (Americas, APAC, and EMEA). The key vendors analyzed in this report are Agilent, Bruker, Danaher, Horiba, and Thermo Fisher.
Technavio’s market research analysts estimate the global scientific instrument market to grow at a CAGR of more than 4% between 2015 and 2019. Growing need for high-quality instruments in the product development procedure coupled with high demand from medical research are the major driving factors of the scientific instruments market. The Americas is the largest market for scientific instruments, accounting for 40% of the total market share. The main reason for this region’s growth is large investments in research laboratories, food testing centers, and educational institution laboratories in the US, which has huge research and testing expenditure.
The new market research report from Technavio provides a breakdown and analysis of the scientific instrument segments by technology.
“Of late, the market is witnessing increase in collaborations between vendors and research laboratories. Governments in China, India, Brazil, Korea, and Taiwan are partnering with scientific instrument vendors to provide the best instruments in university laboratories, government laboratories, and various other research institutions. This trend is expected to have a significant impact on the growth of the market during the forecast period,” says Faizan Akhtar, Industry Manager, New Coverage, Technavio Research.
Industrial users are the main end-users of scientific instruments, accounting for 78% of the overall market share. Industrial users include all the industries that use scientific instruments to manufacture and develop products such as food, medicine, pharmaceuticals, automation, aviation and chemicals. Clinical analyzers dominate the scientific instrument market, owing to their numerous applications in the biochemical and immunodiagnostic sectors.
The leading vendors in the global scientific instrument market include Agilent, Bruker, Danaher, Horiba, and Thermo Fisher. The market is highly fragmented due to the presence of several prominent vendors. The inability to differentiate one vendor’s products from another makes the market easy to enter and highly competitive. Vendors compete on the basis of their distribution network and the ease of availability of their products at every medical and laboratory organization.
A more detailed analysis is available in the Technavio report, Global Scientific Instrument Market 2015-2019.
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