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The Future of Biotechnology Instrumentation 2022

Market Overview:

Biotechnology Instrumentation Market size is projected to reach USD 62.44 Billion by 2028 from an estimated USD 43.21 Billion in 2021, growing at a CAGR of 5.4% globally

Biotechnology InstrumentationBiotechnology Instrumentation is related to the equipment and processes used in biotechnology and the biology-related and medical engineering-related field. People utilized biological methods by using microorganisms to make bread, alcoholic beverages, and cheese for a long time. Biotechnological methods are used to preserve dairy and bakery products. Additionally, these instruments are used in clinics, labs, research institutes, and R&D departments for developing new drugs and in educational institutes for studies. This large application of biotechnological instruments is providing growth to the market. In line with a rise in COVID-19 cases several smaller biotech companies, have become apparent lately through their discovery and development of COVID-19 vaccines.

 Major Key Players for Biotechnology Instrumentation Market:

  • Abbott
  • Agilent Technologies
  • Alcon Inc.
  • AngioDynamics
  • Becton
  • Dickinson and Company
  • BioMerieux SA
  • Bio-Rad Laboratories
  • BioTek Instruments Inc.
  • Candela Medical
  • Cynosure LLC
  • Danaher Corporation
  • Endress+Hauser (Analytik Jena GmbH)
  • Hoffmann-La Roche Ltd.
  • IRIDEX

Market Dynamics and Factors:

The utilization of biotechnology instruments in the production of vaccines, diagnostics tests, and development of novel therapies gene modifications, and is almost used in all life science-related fields which promotes the expansion of biotechnology instruments. According to Statista, the key regions for the biotech industry are the United States and Europe where the most sales generated is 350 billion U.S. dollars of global biotech drug sales. This shows the high requirement for biotechnology instruments around the globe which boosts the growth of the market. Additionally, the capital expenses of the biotechnology sector in Spain amounted to over 140 million euros. In this amount, around 90 million euros were spent on biotechnology equipment and laboratory instruments and the remaining 30 million on land and buildings.

Biotechnology Instrumentation Market Report Highlight:

  • By product type, the life science consumables segment is expected to have the maximum market share in the Biotechnology Instrumentation during the projected period. It is a vast field that includes research in food, forensics, cancer, and proteomics due to this the usage of instruments is high in this segment.
  • By application, the research segment is predicted to expand the most in the Biotechnology Instrumentation Market during the forecast year. High demand for vaccines, drugs, and therapies boosts the growth of the market.
  • By technology, the spectroscopy segment is anticipated to dominate the Biotechnology Instrumentation Market during the forecast period. Spectroscopy has wide application in diverse fields such as metabolomics, Pharma, biopharma, and clinical research providing growth to the market.
  • By end-user, the Pharma-Biotech segment is anticipating the growth of the Biotechnology Instrumentation Market during the upcoming analysis year. This segment is utilized in the production of drugs and requires instrumentation for production that helps to accelerate the growth of the market.
  • By region, North America is expected to dominate the Biotechnology Instrumentation Market, during the projected period. The presence of major companies and highly skilled professionals supports the growth of the biotechnology instrumentation market in North America.

 Key Industry Development:

  • In February 2021, Waters Corporation launched a next-generation liquid chromatography system-Waters ACQUITY PREMIER Solution. It features the company’s breakthrough MaxPeak High-performance Surface technology.
  • In July 2021, Bio-Rad Laboratories, Inc., a leading company in life science research and clinical diagnostic products, collaborated with Seegene, Inc., a global leading company in multiplex molecular diagnostics, for the clinical growth and commercialization of infectious disease molecular diagnostic solutions.

Biotechnology Instrumentation Market Segmentation:

By Product Type

  • Life Science Consumables
  • IVD Instruments
  • Medical Lasers
  • Lab Automation Instruments

By Application

  • Clinical
  • Research

By Technology

  • Spectroscopy
  • Polymerase Chain Reaction {PCR}
  • Liquid Handling
  • Next-Generation Sequencing
  • Electrophoresis
  • Chromatography
  • Cell Counting
  • Others

By End-Users

  • Pharma-Biotech
  • Agri and Food Industry
  • Hospitals
  • Bioinformatics
  • Diagnostic Labs

For this report, Introspective Market Research has segmented the Biotechnology Instrumentation Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Turkey
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Iran
    • Rest of MEA
  • Latin America
    • Brazil
    • Argentina
    • Rest of LATAM

Recommended  News: https://prnotes.com/news/vmware-introduces-next-generation/

 Scope of the Biotechnology Instrumentation :

The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Biotechnology Instrumentation Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness.

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