Biotechnology Instruments Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the biotechnology instruments market grown in recent years?
The biotechnology instruments market has grown steadily, projected to rise from $75.64 billion in 2024 to $80.9 billion in 2025, reflecting a CAGR of 7.0%. Contributing factors to historical growth include increasing chronic disease cases, rising focus on digital healthcare solutions, an aging population, demand for RT-PCR tests, and advancements in miniaturization.
How is the biotechnology instruments market size expected to evolve during the forecast period?
The biotechnology instruments market is projected to witness strong growth in the coming years, reaching $104.52 billion by 2029, with a CAGR of 6.6%. Growth drivers include increased biotechnology research, rising healthcare expenditures, expanded applications of medical lasers, growing demand for vaccines, drugs, and diagnostic devices, and the increasing prevalence of target diseases. Key trends include technological advancements, AI and machine learning integration, innovations in biotechnology, and progress in genomics and proteomics.
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Which key drivers are propelling the biotechnology instruments market’s growth?
The rising prevalence of chronic diseases is expected to drive the biotechnology instruments market, as these instruments enhance diagnosis accuracy, treatment optimization, and disease management. Chronic conditions persist for three months or longer and are increasing due to unhealthy lifestyles, aging populations, and improved awareness. These instruments help identify drug candidates and assess their effects on chronic diseases. For example, the National Center for Biotechnology Information reported 1,958,310 new cancer cases and 609,820 cancer deaths in the U.S. in 2023. Additionally, the National Library of Medicine projected a 47% increase in global cancer cases by 2040, reaching 28.4 million. Therefore, the growing burden of chronic diseases is fueling market growth.
What are the market segments in the biotechnology instruments industry?
The biotechnology instrumentsmarket covered in this report is segmented –
1) By Product: Lab Automation Instruments, Life Science Consumables, In Vitro Diagnostic (IVD) Instruments
2) By Application: Clinical Diagnostics, Drug Discovery And Development, Proteomics And genomics, Cell Analysis, Other Applications
3) By End-user: Pharmaceutical And Biotechnology Companies, Hospitals And Diagnostic Laboratories, Academic And Research Institutes, Other End Users
Subsegments:
1) By Lab Automation Instruments: Robotic Liquid Handlers, Automated Plate Readers, Automated Workstations, Lab Sample Storage Systems
2) By Life Science Consumables: Reagents And Chemicals, Sample Collection And Transport Devices, Laboratory Plasticware, Culture Media And Kits
3) By In Vitro Diagnostic (IVD) Instruments: Molecular Diagnostic Instruments, Clinical Chemistry Analyzers, Hematology Analyzers, Immunoassay Analyzers
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Which leading companies are shaping the growth of the biotechnology instruments market?
Major companies operating in the biotechnology instruments market are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Merck KGaA, Quest Diagnostics Inc., Avantor Inc., Agilent Technologies, Illumina Inc., Sartorius AG, Mettler Toledo, Perkin Elmer Inc., Shimadzu Corporation, Bruker Corporation, Zeiss Group, QIAGEN N.V., Novanta Inc., Cynosure LLC, Bio-Rad Laboratories Inc., Ori Biotech Limited, Hudson Robotics
What key trends are currently impacting the biotechnology instruments market’s development?
Leading enterprises in the biotechnology instruments market are currently prioritizing the creation of innovative offerings like single-cell multi-omics products, which are critical in promoting personalized medical strategies and facilitating research in genomics, proteomics, and metabolomics. Single-cell multi-omics products represent cutting-edge technology capable of scrutinizing various biological details from individual cells. This kind of product can unify data from several omics layers including genomics, transcriptomics, proteomics, and metabolomics. For example, Singleron Biotechnologies, a German biotech firm, introduced two novel instruments, the NEO and the Python Junior, in June 2023 to improve the standardization of single-cell analysis procedures. The NEO has the capability to process up to half a million cells in a single operation across four separate channels, providing high throughput and facilitating various applications to function concurrently. On the other hand, the Python Junior is committed to dissociating solid tissues into high-caliber single-cell suspensions by combining mechanical treatment with enzymatic digestion, thereby optimizing the efficiency of the dissociation process.
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Which geographic areas are influencing the growth of the biotechnology instruments market?
North America was the largest region in the biotechnology instruments market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biotechnology instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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