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The US analytical Instrument Market size is forecast to increase by USD 4.7 million at a CAGR of 2.07% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. One of the primary drivers is the rising demand for generic drugs, which necessitates more stringent quality control measures, leading to increased usage of advanced analytical instruments in the pharmaceutical industry. Another trend is the increasing usage of electrical and electronic components in the automobile industry, resulting in demand for instruments used in automotive applications. However, challenges persist in the market, particularly in equipment design, where miniaturization, cost reduction, and ease of use are crucial factors. These trends and challenges make for an intriguing landscape in the analytical instrument market, offering both opportunities and challenges for market participants.
Market Forecast 2024-2028
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The process control instruments segment is estimated to witness significant growth during the forecast period. One of the main factors that is significantly contributing to the growth of this segment is the increasing adoption of industrial automation in process manufacturing industries. Furthermore, there is an increasing across process manufacturing industries, such as chemical and petrochemical, water and wastewater treatment, and oil and gas in order to measure various parameters of any sample on a real-time basis.
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The process control instruments segment was the largest segment and was valued at USD 13.10 million in 2018. The main advantage of the use is to enhance the quality of end products but also improve the productivity of manufacturing processes. Some of the main process control instruments include electromagnetic flow meters, boiler controls, combustion controls, and hydrometers. Furthermore, the US is estimated for more than 80% of the chemical market in North America. The growth in domestic demand is fuelled by the increased demand from major end-user industries, including packaging, food, water, and wastewater, and the growth in exports from the US chemical industry which is significantly contributing to the growth of the segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The market encompasses a wide range of instruments used for the analysis of various chemical substances and materials in Laboratories, Clinical Diagnostics, Life Sciences Research, and other industries. The market includes instruments for Spectroscopy, Chromatography, Polymerase Chain Reaction, Microarray, Sequencing Technologies, and various other techniques for Genomics, Proteomics, Metabolomics, and Molecular analyses. Some of the common analytical instruments are Calorimeters, Melting point analysis systems, Spectrophotometers, X-Ray diffractometers, Friability testers, and Food-processing instruments. These instruments play a crucial role in Drug discovery, Separation, Quantification, and the analysis of Chemical components in Natural materials, Artificial materials, and Biotechnology. The market for Analytical Instrumentation is significant due to the growing demand for Personalized medicine and the need for accurate Genetic information and Drug responses. The market is expected to grow steadily due to the increasing focus on R&D in various industries and the continuous advancements in Analytical Instrumentation technology.
Pharmaceutical drugs can be referred to as chemical or biochemical substances which are mainly used to prevent and treat diseases. Factors such as the patent expiries of branded drugs and the increasing prevalence of diseases fuelling the demand for generic drugs are positively impacting the market.
Moreover, there is an increase in developments and innovations in the generic drugs market. In addition, there is a significant R&D and heavy expenditure on these generic drugs which is significantly contributing to the market. hence, such factors are positively impacting the market. Therefore, it is expected to drive t market growth during the forecast period.
There is an increasing number of applications and consumables due to the advent of several new technologies, products, and markets. Some of the key application areas include analytical chemistry, clinical analysis, environmental testing, F&B analysis, and forensic analysis.
Moreover, there is an increasing adoption in life science research (including genomics, metabolomics, and proteomics), materials characterization and research, petrochemical testing, and pharmaceutical analysis. In addition, there is a significant application of laboratory analytical instruments in nanoparticle tracking analyzers (NTAs) which enables users to number frequency distributions of particle sizes through their NTA instruments required by every application. Hence, such factors are driving the market growth during the forecast period.
The decline in crude oil prices is significantly impacting the analytical instrument market in the U.S. as the leading end-users of the analytical instruments are the oil and gas industry. For instance, in 2019, shale gas production in the US and reached record levels. In addition, the Middle East countries are not reducing their output as they are afraid of losing their market dominance.
As a result, the oil and gas industry has faced heavy losses in revenue and profit margins. Therefore, factors such as the decline in crude oil prices coupled with the amplified supply of crude oil are leading to fluctuations in the market. Hence, such factors are negatively impacting the US analytical instrument market. Therefore, it is expected to hinder the t market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market trends and analysis report also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:
Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., PerkinElmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp.
Technavio market analysis and report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The market forecasting report classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Analytical instrumentation plays a crucial role in various industries, including laboratory tools, chemical substances, clinical diagnostics, life sciences research, and the biotechnology industry. The market for analytical instruments is vast and diverse, encompassing technologies such as spectroscopy, chromatography, Polymerase Chain Reaction (PCR), microarray, sequencing technologies, and microscopy instruments. These tools are essential for drug development, precision medicine, molecular diagnostics, and biotherapeutics. In the field of cancer research and infectious diseases, analytical instrumentation is used extensively for cancer detection and diagnostic tests. Chromatography techniques like liquid chromatography and mass spectroscopy are used for identifying and quantifying biomarkers, which are crucial for understanding drug responses and developing personalized medicine.
Further, regulatory guidelines play a significant role in the analytical instrumentation market, ensuring the accuracy and reliability of results. Technologies like real-time PCR, sequencing technology, and flow cytometry are used extensively in research areas such as genomics, proteomics, metabolomics, and molecular analyses. The biotechnology industry's grow by the advancements in analytical instrumentation, enabling the development of therapeutic proteins, biomarkers, and diagnostic tests. The market for analytical instrumentation is expected to continue its growth trajectory, driven by the increasing demand for molecular diagnostics, drug discovery, and personalized medicine
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.07% |
Market growth 2024-2028 |
USD 4.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.07 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., Perkin Elmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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