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The US analytical Instrument Market size is forecast to increase by USD 5.92 million at a CAGR of 2.64% between 2022 and 2027. The growth of the market depends on several factors, such as the rise in demand for generic drugs, the stringent government regulations related to the manufacturing of analytical instruments, and the decline in the price of PV systems.
t Market Forecast 2023-2027
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This report extensively covers market segmentation by product (process control instruments, laboratory, electrical measurement equipment, and others) and end-user (pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others). It also includes an in-depth analysis of drivers, trends, and challenges.
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 12.79 million in 2017. 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.
Based on end-user, the segment is classified into pharmaceutical and biotechnology companies, food and beverage companies, environmental testing organizations, and others. Quality control is one of the crucial aspects of pharmaceutical and biotechnology companies to function well such that they can produce high-quality end products and adhere to the guidelines of regulatory authorities. Identification and quantification of raw materials are two main factors that ensure that these companies comply with current GMP. Some offer cost-effective solutions to manufacturers in the pharmaceutical and biotechnology sectors for material identification, along with the generation of accurate results include portable XRF, Raman, and NIR spectrometers. The main advantage of these analyzers in the warehouse is that it ensures better inventory management and reduces global supply chain risk. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
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 t 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.
ABB Ltd: The company offers analytical instrument for the laboratory, process, environmental, steam and power industries.
We 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 report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis 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.
Market Analyst Overview
Analytical instrumentation plays a crucial role in laboratory settings, facilitating the analysis of natural and artificial materials to provide both quantitative and qualitative information. In clinical diagnostics, these instruments are essential for detecting and monitoring chronic and infectious diseases.
The Germany analytical instrumentation market is a hub for innovative technologies, including polymerase chain reaction (PCR), microarray, sequencing technologies, molecular imaging, and molecular diagnostics. Next-generation sequencing has revolutionized genomic analysis, enabling the identification of biomarkers and facilitating research and development activities in areas such as biologics, monoclonal antibodies, vaccines, and therapeutic proteins. Microscopy instruments, including cryogenic electron microscopy, contribute to advancements in various fields by offering high-resolution imaging capabilities. Liquid chromatography, mass spectroscopy, and UV-Vis spectroscopy are indispensable tools for chemical analysis and characterization.
The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
US Analytical Instrument Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.64% |
Market growth 2023-2027 |
USD 5.92 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.28 |
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., PerkinElmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp. |
Market dynamics |
Parent market analysis, market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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