) June 22, 2022 -- The Biotechnology Instruments Market revenues were estimated at USD 46.1 Bn in 2021 and is anticipated to grow at a CAGR of 16.4% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach USD 241.4 Bn.
Technological developments, the efficacy of laser therapy, the escalating prevalence of target diseases, the growing elderly population, and the growing demand for Point-Of-Care (POC) diagnostics and equipment are all driving the industry forward. Owing to this, the Biotechnology Instruments Market is projected to grow at a CAGR of 16.4% over the coming 10 years.
In recent years, there has been a tremendous increase in the demand for biotechnology instruments. Furthermore, advances in biotechnological techniques have resulted in the development of new medicines for patients suffering from ailments such as growth diseases, rheumatoid arthritis, cancer, Alzheimer‘s disease, metabolic diseases, and multiple sclerosis, which have been propelling the Biotechnology Instruments Market.
With the help of advanced biotechnology instruments, biotechnology has improved animal feed and manufactured broad-spectrum livestock vaccines. Besides, it has also improved diagnostic techniques for detecting diseases including Bovine spongiform encephalopathy, foot and mouth disease, and salmonella in other sectors such as agriculture, livestock, veterinary, and aquaculture. Furthermore, biotechnology instruments have improved the breeding of plants to get essential traits, hence supporting the growth of the Biotechnology Instruments Market.
Players of Biotechnology Instruments are Venturing into the Asia Pacific
Owing to the considerable increase in research and development activities in the biotech industry, developing economies in countries such as Latin America and the Asia Pacific are likely to lead to massive potential prospects for the market. The R&D arms of major multinational pharmaceutical corporations in these regions are also likely to fuel the industry growth.
Based on these aspects, the APAC Biotechnology Instruments market is poised to exceed USD 40 Billion through 2032, following a CAGR of 14% over the forecast period. During the historic outlook, the market value is estimated at nearly USD 9.4 Billion in 2021.
Key Takeaways from the Market Study
· Global Biotechnology Instruments Market is expected to reach a market size of USD 53.3 Bn by 2022
· Top Component being Life Science Consumables is projected to grow at a CAGR of 15.2%.
· Top End-use being Hospitals and Healthcare Facilities is expected to grow at a CAGR of 14.7%.
· With over 15.6% projected growth rate, Biotechnology Instruments revenue is expected to grow at fastest pace in the U.S., during 2022 - 2032.
· The Biotechnology Instruments Market is estimated to reach a valuation of USD 53.3 Bn in 2022 as the worldwide revenues was up by 15.6% year-over-year.
The rise in technological advancements and the increasing knowledge in the biotechnology sector, the launch of new and innovative products, agreements, acquisitions, technological advancements, and increasing adoption in various applications can be attributed to the biotechnology instruments industry, comments a Fact.MR analyst.
Key Segments Covered in the Biotechnology Instruments Industry Survey
· Biotechnology Instruments market by Component:
-Biotechnology Lab Automation Instruments
d) Spatial Cell Analysis
e) Other Lab Automation Instruments
-Biotechnology Medical Lasers
-Biotechnology Life Science Consumables
a) IVD Instruments
· Biotechnology Instruments Market by End-Use:
-Biotechnology Instruments for Government & Academic Institutes
-Biotechnology Instruments for Pharmaceutical & Biotechnology Companies
-Biotechnology Instruments for Hospitals & Healthcare Facilities
-Biotechnology Instruments for Other End-Uses
· Biotechnology Instruments Market by Region:
-North America Biotechnology Instruments Market
-Latin America Biotechnology Instruments Market
-Europe Biotechnology Instruments Market
-Asia Pacific Biotechnology Instruments Market
-The Middle East & Africa Biotechnology Instruments Market
A number of regional and global players operate in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence in order to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.
· In July 2021, Lumenis introduced MOSES 2.0 Next-Generation Holmium Laser Technology. This launch was intended to increase the efficacy of urinary stones and the enlarged prostate operation. This is feasible because to laser energy transfer improvement. Furthermore, increased investment initiatives aid many companies in expanding their market footprints.
· In February 2021, Waters Corporation introduced a liquid chromatography system-Waters ACQUITY PREMIER Solution which involves MaxPeak High-performance Surface technology.
· In January 2021, Sartorius Stedim Biotech purchased Novasep‘s chromatography process equipment segment. Its chromatography product offering includes enhanced chromatography systems and resin-based batch for multi-use applications such as oligonucleotides, small molecules, insulin, and peptides.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Biotechnology Instruments market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of component (Lab Automation Instruments, Medical Lasers, Life Science Consumables), End-use (Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, Other End-uses) across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
The study offers data-driven insights and guidance on several aspects. Some of the more notable questions are:
· What are the major recent trends that can influence the product life cycle and the RoI?
· Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
· Which micromarketing initiatives of leading players will bring in investments?
· What can be the best framework and tools for PESTLE analysis?
· Which regions will witness a rise in new opportunities?
· Which are the game-changing technologies being used to capture new revenue streams in the near future?
· Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
· What is the current and expected intensity of competition in the market in the near future?