Global Scientific Instrument Market to Reach US$ 67.5 Billion by 2032, Fostered by Increasing Research Activities in the Pharmaceutical Industry

July 22, 2019 | Healthcare

As per the latest report by IMARC Group, titled “Scientific Instrument Market Report by End-Use (Industrial, Government Institutes, Academics), Type (Scientific Clinical Analyzers, Scientific Analytical Instruments), and Region 2024-2032”, the global scientific instrument market size reached US$ 44.1 Billion in 2023. 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.

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$ 67.5 Billion by 2032, expanding at a CAGR of 4.7% during 2024-2032.

Market Summary:

  • 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.
  • 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.
  • Region-wise, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America dominates the market, holding the largest market share.
  • The competitive landscape of the market has also been examined with some of the key players being Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Horiba Ltd., Thermo Fisher Scientific Inc., Waters Corporation, F. Hoffmann-La Roche AG, PerkinElmer Inc. and Merck KGaA.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage End-Use, Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Horiba Ltd., Thermo Fisher Scientific Inc., Waters Corporation, F. Hoffmann-La Roche AG, PerkinElmer Inc. and Merck KGaA
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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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.

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Global Scientific Instrument Market to Reach US$ 67.5 Billion by 2032, Fostered by Increasing Research Activities in the Pharmaceutical Industry
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