Scientific Instruments Global Market Report 2024

The global scientific instruments market has grown strongly in recent years. It will grow from $40.98 billion in 2023 to $43.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. During the historic period, the growth within the scientific instruments market can be attributed to several key factors. These include a heightened emphasis on life sciences research, government funding allocated for scientific research initiatives, the growing importance of environmental monitoring, the increasing complexity of scientific inquiries necessitating advanced tools, and the globalization of research efforts. These elements collectively contributed to the observed growth in the utilization and demand for scientific instruments during that period.

The global scientific instruments market is expected to see strong growth in the next few years. It will grow to $55.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period within the scientific instruments market is expected to result from various factors. These include the increasing focus on precision medicine and personalized healthcare, the emergence and prominence of point-of-care testing methods, the growing utilization of regenerative medicine practices, a trend towards customization and modular designs of instruments, and a heightened emphasis on regulatory compliance and quality assurance measures. Key trends projected for the forecast period encompass the rising demand for biotechnology applications, the adoption of sustainable and eco-friendly technologies within the industry, the development of multi-modal imaging systems, expanding applications in material science research, a greater emphasis on enhanced connectivity and data sharing capabilities among instruments, as well as the global expansion of research and development (R&D) activities in scientific fields.

The scientific instruments market is experiencing growth due to the increasing demand for testing and research facilities. The rapid expansion of testing and research facilities, particularly in response to global challenges such as the pandemic, has driven the need for effective scientific instruments. In January 2023, an article by the National Center for Science and Engineering Statistics highlighted that the U.S. research and development (R&D) spending increased by $51 billion in 2020, reaching $717 billion. The trend is expected to continue, with R&D spending projected to reach $792 billion in 2021. This surge in testing and research activities is a significant driver for the scientific instruments market.

The emergence of nanotechnology is another factor propelling the growth of the scientific instruments market. Nanotechnology, which involves manipulating matter at the nanoscale, relies on precise scientific instruments for accurate analysis and manipulation. Instruments like scanning tunneling microscopes (STMs) and atomic force microscopes (AFMs) play a crucial role in visualizing and manipulating individual atoms and molecules, contributing to the development of nanomaterials and nanostructures. According to a November 2021 article, the medical nanotechnology market is projected to reach $461,252 million by 2026, with an estimated compound annual growth rate (CAGR) of around 11.9% from 2021 to 2026. The growth of nanotechnology is a driving force for the scientific instruments market.

Artificial intelligence (AI) is a key trend gaining prominence in the scientific instruments market. The integration of AI in research practices is expected to bring significant advancements. In February 2022, Agilent Technologies Inc., a U.S.-based analytical instrumentation development and manufacturing company, acquired AI technology developed by Virtual Control. This AI technology is intended for use with mass spectrometry equipment, enhancing capabilities in liquid and gas chromatography. The incorporation of AI streamlines labor-intensive processes such as sampling and report production, showcasing the adoption of cutting-edge technologies in the scientific instruments market.

Major players in the scientific instruments market are actively engaging in collaborations and strategic partnerships to fortify their positions. These business partnerships, characterized by structured affiliations between commercial enterprises, are established through business agreements or contracts. An illustration of this strategic approach is evident in the partnership between Quantum Detectors, a UK-based provider of reliable direct electron detection and readout solutions, and Amsterdam Scientific Instruments (ASI), a Netherlands-based provider of scientific instruments. In September 2023, Quantum Detectors and ASI formed a collaborative venture aimed at advancing scientific research. The partnership not only seeks to enhance the distribution process but also provides researchers with consolidated access to Medipix and Timepix based technology through a single provider.

In a notable acquisition strategy, Tibidabo Scientific Industries Ltd., a US-based developer and manufacturer specializing in highly differentiated technology for scientific research, aerospace, and the industrial market, acquired Lambert Instruments B.V. in October 2021. The acquisition, conducted for an undisclosed amount, positions Tibidabo Scientific Industries to broaden its market presence by leveraging Lambert's extensive product offering and robust research and development (R&D) capabilities. Lambert Instruments B.V., based in the Netherlands, is a company dedicated to developing and producing scientific imaging equipment and various fluorescence imaging modalities. This acquisition exemplifies the trend of major companies in the scientific instruments market strategically joining forces through partnerships and acquisitions to enhance their capabilities and market reach.

Major companies operating in the scientific instruments market report are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Waters Corporation, The Merck Group, Horiba Limited, PerkinElmer Inc., F. Hoffmann-La Roche AG, Carl Zeiss AG, 3M Company, Geno Technology Inc., Shimadzu Corporation, Mettler-Toledo International Inc., Oxford Instruments PLC, Eppendorf AG, JEOL Ltd., Hitachi High-Technologies Corporation, Malvern Panalytical GmbH, Bio-Rad Laboratories Inc., Becton Dickinson and Company, Illumina Inc., Bio-Techne Corporation, BioTek Instruments Inc., Biochrom Ltd., Beckman Coulter Inc., Sartorius AG, Hamilton Company, Siemens Healthineers AG, Koninklijke Philips N.V. Healthcare

North America was the largest region in the scientific instruments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the scientific instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the scientific instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within the scientific instruments market, prominent categories include clinical analyzers, analytical instruments, and other specialized variants. Clinical analyzers are devices employed for examining urine, plasma, and blood serum samples. They serve various laboratories, ranging from small point-of-care clinics to high-throughput clinical labs, enabling the testing of analytes such as proteins, enzymes, and electrolytes. Scientific instruments find extensive usage across research, clinical diagnostics, and various applications in hospitals, diagnostic laboratories, pharmaceutical and biotechnology companies, and other sectors involved in scientific pursuits.

This report provides scientific instruments market statistics, including scientific instruments industry global market size, regional shares, competitors with a scientific instruments market share, detailed scientific instruments market segments, market trends and opportunities, and any further data you may need to thrive in the scientific instruments industry. This scientific instrument market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The scientific instruments market consists of sales of scientific instruments that are used for natural phenomena and theoretical research. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.