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The global laboratory analytical instruments market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The growing number of innovations in the field of life sciences will drive the growth prospects for the global laboratory analytical instruments market until the end of 2021.
It has been observed that some of the major factors responsible for the growing consumption of laboratory analytical equipment solutions include the increasing rate of chronic diseases, aging population, population growth, growing life expectancy, and higher disposable income. In addition, according to the industry research report, with the growing focus of several US-based life sciences companies within Africa and South America on the expansion of geographical reach, the growth and investment opportunities for vendors in the market will surge in the coming years. Furthermore, the increasing focus on divestiture activities and mergers and acquisitions will propel the global laboratory analytical instruments market value.
The increasing rate of technological advancements in the sector will drive the growth prospects for the global laboratory analytical instruments market for the next four years. Some of the major factors responsible for the growing number of development of inexpensive instruments without compromising on functionality or quality is the increasing need and demand for devices that are easy to use, accurate, and have a lower cost of ownership.
The global laboratory analytical instruments market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that these vendors are increasingly competing against each other based on factors such as price, availability, and variety. Furthermore, growth opportunity for various vendors depends increasingly on the governmental support, market conditions, and industry development.
The laboratory elemental analysis segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the market segment’s growth is the growing rate of safety concerns in food and beverage products industry that necessitates appropriate and quality analytical instruments and lab equipment. Also, they are increasingly used in the industrial sector to determine the quality of minerals and metals. Furthermore, the advent of organic elemental analysis instruments has facilitated the study of liquids, solids, volatiles, or viscous substances.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market segment's growth is the increasing interest in drug discovery and development using lab instruments among several pharmaceutical and biotechnology companies.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by function
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Tags: analytical instruments, analytical equipment, lab instruments, used lab equipment, laboratory analytical instruments market share, lab equipment market forecast,
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