The analytical laboratory instruments manufacturing market on a strong and steady progression

The global market for analytical laboratory instruments manufacturing is expected to experience strong and steady progression through 2022, as a result of economic growth, technological advancements and increases in private investments. The market was valued at nearly USD 83.1 billion in 2017. By 2022, the market worth is anticipated to reach USD 115.8 billion, denoting a CAGR of 6.8 percent, states BCC Research. A few key players dominate the market, including Agilent Technologies, BioMérieux, Danaher Corporation, Thermo Fisher Scientific, and Waters Corporation.

The analytical laboratory instruments manufacturing market is expected to continue to register strong growth owing to increasing demand for elemental analysis and molecular analysis instruments from scientific and medical research organizations. The demand for hematology and immunology instruments from diagnostic laboratories is also expected to contribute to the market growth. Elemental analysis instruments accounted for the largest segment of the market in 2017, resulting from the strong demand for these instruments among pharmaceutical and clinical research laboratories. Representing 50.3 percent of the total market share, Asia-Pacific was the largest market in 2017, while North America is expected to witness the fastest growth in the market, with an estimated CAGR of 8.8 percent.