The Analytical Instrumentation Industry is anticipated to grow at a 4.8% annual rate between 2023 and 2032. By 2032, the market is projected to be valued USD 81.4 billion.
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"The Global Analytical Instrumentation Market 2022-2032 (USD Billion)")
The global analytical instruments market has burgeoned enormously in couple of decades; however, the industry is highly competitive currently and the companies are facing an immense competition from several suppliers in the domestic and foreign markets. The companies are continuously striving to meet the growing demand from end users by introducing new and sophisticated products in the market. The analytical instruments consumption is seen primarily in sectors such as pharmaceutical, biotechnology, academia, government institutes among others. The growth of the analytical industry is dependent upon the performance and R&D spending of industries such as biotechnology, pharmaceuticals, chemical, oil & gas, food & beverage etc.
Analytical Instrumentation Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 81.4 billion |
| Growth Rate | CAGR of 4.8 % during 2022-2032 |
| Segment Covered | Product Type,End User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Epiroc Group, Supmea Automation, Yokogawa Electric, Krohne Group, and Parker Hannifin |
Key Segments of The Global Analytical Instrumentation Market
Type Overview, (USD Million)
- Chromatography
- Liquid Chromatography
- Gas Chromatography
- Others
- Spectroscopy
- Molecular Spectrometry
- Near-Infrared Spectroscopy (NIR)
- Infrared (IR)
- Nuclear Magnetic Resonance (NMR)
- Ultraviolet–Visible Spectroscopy (UV-VIS)
- Raman
- Other Molecular Spectrometers
- Mass Spectroscopy
- Gas Chromatography Mass Spectrometry (GC-MS)
- Liquid Chromatography Mass Spectrometry (LC-MS)
- Inductively Coupled Plasma Mass Spectroscopy (ICP-MS)
- Other Mass Spectrometers
- Molecular Spectrometry
- Other Analytical Instruments
Application Overview, (USD Million)
- Pharma and Biotech
- Industrial & Applied
- Academia and Government
- Others (Research, Universities, Forensics)
Regional Overview, (USD Million)
- North America
- U.S.
- Rest of North America
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East & Africa
- UAE
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ) :
The market value of analytical instrumentation market in 2032 was USD 81.4 billion.
The analytical instrumentation market is growing at a CAGR of 4.8% over the forecast period.
The top companies that hold the market share in analytical instrumentation market are Epiroc Group, Supmea Automation, Yokogawa Electric, Krohne Group, and Parker Hannifin
As a general observation the analytical instrumentation market is a mature and highly competitive market but the market still holds a lot of growth opportunities for the preexisting and dominating players in the market. Analytical instruments are one of the costliest instruments required by the companies and each year a huge amount of money is spent over the annual maintenance of these instruments by the end users. With the rising prices of these instruments the end users especially the companies which are small and mid-sized consider the refurbished systems option as the best option in order to fulfill their requirement. With the growing pharmaceutical and biotechnology in the Asia countries such as India, Japan and China, the analytical industry is expected to grow at the highest CAGR. Also, if the manufacturers of these highly sophisticated instruments consider to be in direct operation rather than keeping an authorized distributor then the overall cost of the equipment would be minimized and thus help the end users to buy these instruments. For instance, companies such as Thermo Fisher Scientific and Agilent Technologies have come into direct operation into the Indian market and has made good fortune of the growing Indian analytical instrumentation market. The analytical instrumentation market is primarily dominated by existing players such as Waters Corporation, Thermo Fisher Scientific, Shimadzu Corporation, Bruker, Agilent Technologies among others. However, the industry holds a good amount of opportunity for the companies which are able to provide these instruments at a cost effective price. Also, the industry hold tremendous opportunities in providing refurbished and leased out instruments to the companies which do not have high annual budget for purchasing the brand new equipment.
The analytical instrumentation market is segmented on the basis of type into chromatography, spectroscopy and others. The chromatography segment is further sub segmented into liquid chromatography, gas chromatography and others whereas the spectroscopy segment is bifurcated into molecular spectroscopy, mass spectrometer among others. The chromatography market is an enormous market which comprises of HPLC, TLC, UPLC, GC and chromatography consumables such as columns, filters and solvents. The chromatography segment is the largest segment in the analytical instrumentation market contributed over USD 10 billion revenue in the year 2018 globally. The growing investments by the governments in the emerging economies such as India, China and Japan, rising awareness regarding food safety concerns, research and development in the life science sector and technological advancements in the analytical instruments is fueling the growth of the analytical instruments market. The chromatography segment is expected to grow at a CAGR of 7% over the forecast period. The Asia Pacific region is expected to grow fastest in the forecast period owing to the presence of biggest pharmaceutical and biotechnology sector. Also, India is among the fastest growing region in the Asia Pacific region as it is a global manufacturing and research hub. The Indian pharmaceutical sector is the third largest in terms of volume and takes thirteenth spot in terms of revenue generation. The India pharma sector’s export stood at USD 17 billion in 2017-18 and is expected to grow over 30% and reach USD 20 billion by 2020. The factors which are contributing to the growth of this market in India are lowest manufacturing costs in comparison with other developing and developed economies, dominance as a largest supplier of generic drugs among others.
The spectroscopy market is segmented into molecular spectroscopy, mass spectrometry among others. The molecular spectroscopy is further sub segmented into NIR, IR, NMR, UV-VIS and Raman. NMR is the largest segment and contributed over USD 1.6 billion in 2018. The key end users of NMR comprises of synthetic chemists (including pharmaceuticals, academic research, biotechnology, cosmetic and personal care, petrochemicals, materials chemists & polymers); and quality assurance personnel (environmental testing, food & beverage testing). NMR spectroscopy is an effective tool in pharmaceutical industry for drug discovery and efficacy. In the coming future the pharmaceutical industries in the developed and developing economies will become more stringent and thus demand for strict drug regulations which would drive the demand for molecular spectrometers.
Similarly, the requirement of these sophisticated instruments in the research institutes & academics are gaining momentum which will help students to get hands-on experience and thus help them to get a better understanding of these instruments. However, these sophisticated instruments comes with a very high cost and there is a requirement of skilled personnel. In such a case, benchtop NMR spectrometers have emerged as one of the best solution especially for applications demanding for low field and less sensitivity. The benchtop spectrometers are compact and its low cost makes it an ideal solution for academics. Also, the applications of benchtop NMR comprises of polymer research, pharmaceuticals, academics, reaction monitoring, food &among others. The majority of end users of NMR comprises of academics and pharmaceuticals holding over 50% of the market. The NMT market is primarily dominated by big giants such as JEOL and Bruker whereas other players like Bruker, Thermo Fisher Scientific Inc., Oxford Instruments PLC, Nanalysis Corp. among others holds a significant shares in the global market.
Analytical instrumentation market is dominated by North America and Europe region owing to the growth of the pharmaceutical and biotechnology companies along with the presence of the dominating players in these regions. India, Japan and China holds a significant value in the Asia Pacific analytical instruments market accounting for over 75% of the Asia Pacific market. India continues to be the fastest growing region in the forecast period, where end users of the analytical instruments such as pharmaceutical and biotechnology sector is import driven from countries such as U.S; Japan, Germany and U.K. As per the reports of EXIM (Export Import India). In 2016, the global pharmaceutical products exports were valued at USD 491.8 billion, registering y-o-y marginal decline of (-)0.4%. In the five year period between 2012 and 2016, the maximum growth was during the year 2014 at 4.9%, when the value of global exports touched USD 512.5 billion. However, the growth rates have been negative post this period, with a decline of (-) 3.3% in the year 2015. On the whole, the exports of pharmaceutical products recorded a CAGR of 1.3% during the five year period 2012 to 2016. Germany continued to remain the largest exporter of pharmaceutical products in the world, with the value of its exports increasing from USD 70.4 billion in 2012 to USD 77.1 billion in 2016 accounting for a share of 15.5% in world exports during 2016. Switzerland stood at the second spot as a exporter, with its exports value amounting to USD 67.0 billion (13.5% share) in 2016. The US, being the third largest exporter of pharmaceutical products in the world, had a share of 9.4% in world exports during 2016, with its exports registering a CAGR of 4.0% during the period 2012 to 2016. The other major exporters of pharmaceutical products include Belgium, the UK, Ireland, France, Italy, the Netherlands and India. Among the top 10 exporters in the world, while four countries recorded negative CAGRs, India was the one to record the highest CAGR of 8.0% during the period 2012 to 2016, helping the country increase its share in world pharmaceutical exports from 2.0% in 2012 to 2.6% in 2016.
Analytical instrumentation market is primarily driven by the growth in the pharmaceutical, biotechnology, R&D, life sciences, academia sectors among others. The Asia-Pacific region is expected to grow with the maximum CAGR over the forecast period, with major countries witnessing the increased demand for pharmaceutical, life science and biotechnology companies. These countries include India, China, Korea, and Japan. The Indian analytical instrumentation market is highly import dependent and around 75-80% sophisticated instruments are imported for U.S. and European market in order to cater its growing demand, while local manufacturing is only limited to basic to medium technology equipment.
.png "Global Analytical Instrumentation Market Share, by Region, 2018 (USD Million)")
Pharmaceutical sector in India has reformed into a global research & development hub as it exhibits strong export & manufacturing competencies and thus allowed it to be one of the most competitive regions worldwide. The growing Pharmaceutical Research, Life Sciences, Biotechnology, Chemical, Food & Beverage, Oil & Gas, industries are fueling the growth of analytical instruments in India. Indian analytical instrument industry is expected to cross USD 6 billion by 2025.
The global analytical instrument market is evolving with trends such as miniaturization, smart technology adoption, portable instruments & customization; customization being highly demanded by end users. India being the fastest growing analytical instruments industry is valued around USD 3.5 billion and holds tremendous opportunities for the market players which are operating directly from U.K., Germany, Italy, Russia, and U.S. among others.
Pharmaceutical Spending By 2022 (USD Billion)
|
Region / Country |
2017 |
2013-17 |
2022 |
2018-22 |
|
China |
122.6 |
9.4% |
145-175 |
5-8% |
|
Tier 2 Markets |
67.3 |
11.2% |
89-93 |
7-10% |
|
Brazil |
33.1 |
11.5% |
38-42 |
5-8% |
|
India |
19.3 |
11.0% |
26-30 |
9-12% |
|
Russia |
14.9 |
10.8% |
20-24 |
7-10% |
|
Tier 3 markets |
79.7 |
8.9% |
95-125 |
6-9% |
|
Total |
336.9 |
9.7% |
345-375 |
6-9% |
Source: Biospectrum India