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What key factors are powering the surge in the scientific instruments market right now?

The market for scientific instruments has seen significant expansion in the last few years. The growth is projected to continue, escalating from $42.95 billion in 2024 to $45.24 billion in 2025 with a compound annual growth rate (CAGR) of 5.3%. The surge during the historical period is attributed to the heightened attention on life sciences, government contributions towards scientific exploration, environmental scrutiny, rising intricacy in scientific investigations, and the internationalization of research.

How fast Is the scientific instruments market expected to grow, and what’s its future value?

In the coming years, the scientific instruments market is projected to experience robust growth. Its value is set to increase to $59.77 billion in 2029, with a compound annual growth rate (CAGR) of 7.2%. The predicted expansion during this forecast period can be ascribed to factors such as the rise of precision medicine and personalized healthcare services, the advent of point-of-care testing, proliferation of regenerative medicine, customized and modular instrument designs, adherence to regulations and emphasis on quality assurance. Noteworthy trends for the forecast period comprise the growing demand in biotechnology, increasing adoption of sustainable and green technologies, the emergence of multi-modal imaging systems, applications in material science, improved connectivity and data sharing, and worldwide expansion of research and development (R&D) activities.

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What are the leading drivers of growth in the scientific instruments market?

Growth in the scientific instruments market is primarily spurred by the expanding testing and research facilities. With the outbreak of the virus and intensified efforts to mitigate its lingering effects, there has been a significant surge in the number of these facilities. These research and testing facilities necessitate scientific instruments for efficient testing and solution development. For instance, the Office for National Statistics, a UK-based executive office, reported in April 2024 that the total net R&D expenditure, encompassing contributions to the EU R&D budget and knowledge transfer activities, had escalated to £16.4 ($21.46) billion in 2022 — an 8.9% increase from the £15.0 ($19.62) billion in 2021. Consequently, the scientific instruments market is being propelled by this growth in testing and research facilities.

What are the key segments defining the scientific instruments market?

The scientific instruments market covered in this report is segmented –

1) By Type: Clinical Analyzers, Analytical Instruments, Other Types

2) By Application: Research, Clinical And Diagnostics, Other Applications

3) By End User: Hospitals And Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies, Other End-Users

Subsegments:

1) By Clinical Analyzers: Hematology Analyzers, Biochemistry Analyzers, Immunoassay Analyzers

2) By Analytical Instruments: Chromatography Instruments, Spectroscopy Instruments, Mass Spectrometry Instruments

3) By Other Types: Microscopes, Laboratory Balances, Environmental Testing Instruments

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Who are the key players steering the development of the scientific instruments market?

Major companies operating in the scientific instruments market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Waters Corporation, The Merck Group, Horiba Limited, PerkinElmer Inc., F. Hoffmann-La Roche AG, Carl Zeiss AG, Shimadzu Corporation, Mettler-Toledo International Inc., Oxford Instruments PLC, Eppendorf AG, JEOL Ltd., Hitachi High-Technologies Corporation, Malvern Panalytical GmbH, Bio-Rad Laboratories Inc., Becton Dickinson and Company, Illumina Inc., Bio-Techne Corporation, Sartorius AG, Hamilton Company, Siemens Healthineers AG, Koninklijke Philips N.V. Healthcare

What emerging trends are influencing the growth of the scientific instruments market?

Artificial intelligence is increasingly becoming a trending approach in the scientific instruments market. The integration of artificial intelligence in research is projected to substantially transform current methodologies. Such progress offers key contributors a competitive advantage in the market. For example, in February 2022, Agilent Technologies Inc., a company in the US that specializes in manufacturing and developing analytical instruments, procured an AI technology devised by Virtual Control. Agilent aims to pair this AI tech with its software for mass spectrometry equipment that is combined with both gas and liquid chromatography. The new ability automates laborious tasks such as sampling and compiling reports. Virtual Control is a creator of AI and machine learning software.

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Which regions are most influential in expanding the scientific instruments market?

North America was the largest region in the scientific instruments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the scientific instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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