Global Analytical Instrumentation Market to Grow at a CAGR of 7.7% During 2024-2032, Aided by the Increasing Research and Development (R&D) Activities

North America holds a significant share of the analytical instrumentation industry owing to the increasing research and development (R&D) activities in the region. The robust growth of the oil and gas industry in the United States and Canada is surging the deployment of analytical instrumentation to monitor the processing of oil and gas, hence propelling the market growth. Moreover, advancements in life sciences in the region is increasing the deployment of analytical instrumentation, which is significantly contributing to the market growth. As the pharmaceutical industry in the region is witnessing rapid growth, the use of analytical instrumentation, such as chromatography and mass spectroscopy, is increasing. In addition, the various stringent government regulations to ensure the efficacy and safety of drugs is providing further impetus to the market for analytical instrumentation.

Agilent Technologies, Inc (NYSE: A), one of the leading companies in the market, launched two mass spectrometry products in June 2020. The products, Agilent 6470B Triple Quadrupole LC/MS and Agilent RapidFire 400, enable the faster detection of target compounds, increase sample throughput, and boost the time-effectiveness of result generation. The instruments are designed to meet evolving consumer demands for innovative mass spectroscopy products and solve the challenges associated with target compound detection. They also bolster the reliability and increase the overall throughput of mass spectrometry. Agilent RapidFire 400 includes barcode reading capabilities for sample tracking and enables the analysis of about 98,000 samples while reducing lab space requirements. Moreover, the 670B system boosts system uptime while improving the overall system performance for low-level detection in high-throughput environments. Such developments are driving the market growth.

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Market Analysis by Product Type, End Use, and Region:

• The market, on the basis of product type, can be divided into chromatography, molecular analysis spectroscopy, elemental analysis spectroscopy, mass spectroscopy, and analytical microscopes, among others.
• Based on end use, the industry can be divided into life sciences, chemical and petrochemical, research and academics, material sciences, food testing, oil and gas, and water and wastewater, among others.
• The regional markets for analytical instrumentation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The introduction of various stringent governments’ regulations to ensure food and beverage safety is surging the deployment of analytical instrumentation, hence propelling the market growth.
• The market is being aided by the growing deployment of chromatography in vaccine development, the demand for which heightened due to the COVID-19 outbreak.
• The growing use of analytical instrumentation to rapidly detect water contaminants treatment in water and wastewater is fuelling the industry growth.
• The integration of the latest technologies like big data and artificial intelligence (AI) in chromatography to boost its capabilities is expected to drive the market growth for analytical instrumentation.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for analytical instrumentation for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, end uses, and major regions of analytical instrumentation.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global analytical instrumentation market are Agilent Technologies, Inc, Bruker Corporation, PerkinElmer Inc., Thermo Fisher Scientific Inc., and Shimadzu Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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