Biotechnology Instruments Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Biotechnology Instruments Market Shape Industry Trends by 2034?
The size of the biotechnology instruments market has seen significant expansion in the recent past. The market is predicted to escalate from $75.64 billion in 2024 to $80.9 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.0%. The previous period’s growth can be ascribed to factors such as the rise in complications due to chronic diseases, heightened interest in digital solutions, an increasing elderly population, a surge in demand for reverse transcription-polymerase chain reaction (RT-PCR) tests, and the trend towards miniaturization.
Robust expansion is anticipated in the biotechnology instruments market in the coming years, as it is poised to reach a value of $104.52 billion by 2029, registering a compound annual growth rate (CAGR) of 6.6%. Factors contributing to the expected growth during this period include heightened biotechnology research activities, rising healthcare costs and productivity loss, the expanding use of medical lasers, and escalating requirements for vaccine, drug, therapy, and diagnostic device development. Moreover, the growing prevalence of target diseases is predicted to fuel the market. Forecast period trends feature technological progress, innovative breakthroughs in the biotechnology sector, the incorporation of artificial intelligence and machine learning, and advances in genomics and proteomics.
What Factors Are Propelling the Growth of the Biotechnology Instruments Market from 2025 to 2034?
The biotechnology instruments market is forecasted to experience growth propelled by the surging prevalence of chronic diseases. These diseases, also referred to as chronic illnesses or chronic conditions, are enduring health problems, generally lasting for three months or more. Unhealthy lifestyle choices, an older population, and heightened awareness and diagnosis have led to an increased prevalence of chronic diseases. Biotechnology instruments significantly aid in improving the quality of life for patients suffering from chronic diseases by boosting diagnosis precision, fine-tuning treatments, and facilitating superior disease management. These instruments also assist in identifying potential drug candidates and comprehending their effects on chronic diseases. For instance, the National Center for Biotechnology Information, a US-based intergovernmental agency, reported in January 2023, that there were 1,958,310 new cancer instances in the United States and 609,820 cancer fatalities in 2023. Additionally, according to the National Library of Medicine, a US-based medicine library, it was expected in May 2021 that the global cancer burden would reach 28.4 million cases in 2040, showing a 47% increase from 2020. Hence, the mounting demand for chronic diseases treatment is fueling the growth of the biotechnology instruments market.
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Who Are the Key Market Players Influencing the Growth of the Biotechnology Instruments Industry?
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 Market Trends Are Shaping the Future of the Biotechnology Instruments Industry?
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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What Are the Core Categories and Segments in the Biotechnology Instruments Market Driving Demand and Growth?
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
Which Regions Are Emerging as Leaders in 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.
How Is the Biotechnology Instruments Market Defined Across Different Regions?
Biotechnology instruments refer to the specialized equipment and tools used in biotechnology laboratories to conduct research, develop products, and perform various biological processes. These instruments are essential for manipulating biological systems and organisms and facilitating advancements in medicine, agriculture, and environmental science.
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