Biotechnology Instruments Industry Overview
The global biotechnology instruments market size was valued at USD 41.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.66% from 2021 to 2028.
The high adoption of point-of-care diagnostic devices is a key factor driving the market. Continuous advancements in R&D have enhanced the capabilities of point-of-care (POC) testing systems. Novel equipment offer a broad menu of tests, which can be used in multiple hospital settings. Novel POC devices allow real-time transmission of test results to the electronic medical record of patients for easy review from physicians. The systems have also been designed in a way that they can easily comply with changes in laboratory regulations. A rise in the prevalence of chronic disorders, including infectious diseases (such as COVID-19), cardiovascular disorders, diabetes, cancer, and others, is also expected to propel the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Biotechnology Instruments Market
Scientists and researchers from decentralized and centralized laboratories have used nanopore sequencing to facilitate the rapid sharing of sequence data from SARS-CoV-2. Researchers have been quick in sharing sequenced genomes on public databases, including GenBank and GISAID, to analyze public health responses. With an increase in the number of cases, laboratories have also built the capacity to sequence genomes from a large number of samples. Owing to these efforts, sequencing data of a wide range of samples are available in public databases.
In line with a rise in COVID-19 cases, companies are providing nucleic acid purification expertise, collaborative technical support, amplification solutions, and labeling technologies, which can streamline workflows and expedite the work of researchers engaged in the detection of COVID-19. For instance, Maxwell Instruments of Promega Corporation assist laboratories engaged in the development of coronavirus tests and research solutions in managing the current pandemic.
Laser therapy offers various benefits, which increase the adoption rate of medical lasers. The precision of lasers is far greater than that of surgical instruments, which makes it an ideal tool for cutting tissues with short, shallow cuts, causing less damage to the body. Cool laser treatments offer an effective and safe alternative to oral analgesics, such as Oxycodone, OxyContin, corticosteroid injections, and other opiate pain medications, which can potentially be relatively toxic and highly addictive.
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- Bioinformatics Market - The global bioinformatics market size was valued at USD 3.51 billion in 2013. Growing demand in the process of novel drug R&D and private and public funding initiatives to support R&D exercises are expected to be the key factors driving the market during the forecast period.
- Liquid Biopsy Market - The global liquid biopsy market size was valued at USD 7.03 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.5% during the forecast period. The increasing prevalence of cancer coupled with the rise in demand for fast, minimally invasive diagnostic tests drives the market growth.
Biotechnology Instruments Market Segmentation
Grand View Research has segmented the global biotechnology instruments market on the basis of product, end-use, and region:
Biotechnology Instruments Product Outlook (Revenue, USD Million, 2017 - 2028)
- Lab Automation Instruments
- Proteomics
- Genomics
- Sequencing
- Spatial Cell Analysis
- Others
- Life Science Consumables
- IVD Instruments
- Medical Lasers
- Therapeutics
- Ophthalmic
- Ablation
Biotechnology Instruments End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Government & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Facilities
- Others
Biotechnology Instruments Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- July 2021: Lumenis launched MOSES 2.0 Next-Generation Holmium Laser Technology to improve the efficiency of urinary stones and enlarged prostate procedures by optimizing laser energy transmission.
- June 2021: ATS Automation Tooling Systems, Inc. acquired BioDot, Inc., an automated fluid dispensing systems manufacturer, to expand its life sciences capabilities.
- February 2021: Beckman Coulter introduced DXH560 AL, a tabletop hematology analyzer. It is intended to minimize the time and resource restriction faced by mid-and small-sized laboratories.
Key Companies profiled:
Some prominent players in the global biotechnology instruments market include
- Abbott
- Agilent Technologies
- Alcon, Inc.
- AngioDynamics
- Becton, Dickinson, and Company
- BioMerieux SA
- Bio-Rad Laboratories
- BioTek Instruments, Inc.
- Candela Medical
- Cynosure, LLC
- Danaher Corporation
- Endress+Hauser (Analytik Jena GmbH)
- F. Hoffmann-La Roche Ltd.
- IIlumina Inc.
- IRIDEX
- Lumenis
- Merck KGaA
- Novanta, Inc.
- Perkin Elmer, Inc.
- QIAGEN
- Siemens Healthineers
- Tecan Group AG
- Thermo Fisher Scientific, Inc.
- Waters Corporation
- Zimmer MedizinSysteme
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