Scientific instruments refer to laboratory equipment which are designed, constructed and refined for scientific purposes. These instruments include ammeter, barometer, chromometer, galvanometer, hydrometer, photometer, phonograph, etc. which are used for analysing, measuring and verifying the unproven properties and quantities of a material or an element. Scientific instruments form an important component of new product development and innovating and remodelling the existing products. In modern times, research institutes use these instruments to achieve optimum efficiency in their research processes as well. According to the latest report by IMARC Group, titled “Scientific Instrument Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global scientific instrument market reached a value of US$ 32 Billion in 2017.
The major demand driver of the global scientific instrument market is the growth of the research and development sector. Additionally, the rising collaboration between the governments and manufacturers to provide the best instruments in government and university laboratories, and various other research institutions is anticipated to contribute to the market growth across the globe. Further, the integration of scientific instruments with computers extends and enhances instrumental functions, offers parameter adjustments & conditions and streamlines data sampling, collection, resolution & analysis. This is expected to expand the demand for scientific instruments worldwide. Owing to these factors, the market value is projected to exceed US$ 41 Billion by 2023, expanding at a CAGR of 4.1% during 2018-2023.
- Based on the end-use sectors, the report has segregated the market as industrial, government institutes and academics. Currently, industrial users dominate the market, accounting for the largest share.
- On the basis of type, the market has been segmented into scientific clinical analyzers and scientific analytical instruments. Amongst these, scientific clinical analyzers are the most popular type, holding the majority of the global share.
- The report has segmented the global scientific instruments market on the basis of region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- 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, Pelkin Elmer and Merck.
This report provides a deep insight into the global scientific instrument market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the scientific instrument market in any manner.
Key Questions Answered in This Report:
- How has the global scientific instrument market performed so far and how will it perform in the coming years?
- What are the key regions in the global scientific instrument market?
- Which are the key product types in the global scientific instrument market?
- What are the key end-use segments in the global scientific instrument market?
- What are the various stages in the value chain of the global scientific instrument market?
- What are the key driving factors and challenges in the global scientific instrument market?
- What is the structure of the global scientific instrument market and who are the key players?
- What is the degree of competition in the global scientific instrument market?
- How is scientific instrument manufactured?