Life Science Instrumentation Market Report 2024

This Life Science Instrumentation market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The life science instrumentation market size has grown strongly in recent years. It will grow from $62.06 billion in 2023 to $66.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the historic period can be attributed to several factors, the rise of personalized medicine, the expansion of the biotechnology sector, increased government funding and grants, the emergence of new diseases and health threats, and an aging population coupled with chronic diseases.

The life science instrumentation market size is expected to see strong growth in the next few years. It will grow to $86.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period is driven by several factors, research into environmental and climate change, rising government and private funding, adherence to regulatory standards, the emergence of infectious diseases, and the expanding applications in food and agriculture. Key trends expected during this period include progress in genomics, integration of AI and machine learning, miniaturization and increased portability, advancements in automation and robotics, and the adoption of digital and cloud-based solutions.

The rising prevalence of genetic disorders is expected to drive the growth of the life science instrumentation market. Genetic disorders are conditions caused by abnormalities in DNA or chromosomes, and their incidence is increasing due to advancements in diagnostic technologies, greater awareness, and changes in reproductive practices. Life science instruments play a crucial role in diagnosing, monitoring, and developing targeted therapies for genetic disorders by analyzing genetic material and biomarkers. For example, the Alzheimer Society, a UK-based charity focused on dementia care and research, reported in May 2023 that about 982,000 people in the UK are living with dementia, with the number projected to rise to 1.4 million by 2040. Thus, the growing incidence of genetic disorders is fueling the expansion of the life science instrumentation market.

Leading companies in the life science instrumentation sector are concentrating on developing innovative solutions, such as advanced milling technology, to improve precision and efficiency in sample preparation and analysis. Milling technology encompasses sophisticated techniques and equipment used for high-precision mechanical processing of materials, including sample preparation in life science research. For instance, Thermo Fisher Scientific Inc., a US-based company specializing in life science and clinical research, introduced the Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB) in August 2022. This advanced automated microscope is designed to enhance cryo-electron tomography (cryo-ET) research significantly. It features an autoloader capable of handling up to 12 grids, enabling robotic handling to reduce contamination risks and boost sample processing efficiency. The system also includes an integrated fluorescence microscope (iFLM) that allows researchers to observe samples using light, ion, or electron beams simultaneously, improving targeting and verification of areas during the milling process.

In January 2024, Calibre Scientific Inc., a U.S.-based company specializing in life sciences and diagnostics, acquired Labtech International Ltd. for an undisclosed amount. This acquisition allows Calibre Scientific to broaden its portfolio of analytical instruments and strengthen its presence and service capabilities across the British Isles. Labtech International Ltd., based in the UK, is a manufacturer and supplier of laboratory instruments and equipment, with a focus on life sciences and scientific research.

Major companies operating in the life science instrumentation market are Thermo Fisher Scientific Inc., Roche Diagnostics International Ltd., Danaher Corporation, Merck KGaA, Becton Dickinson and Company, GE HealthCare Technologies Inc., Agilent Technologies Inc., Hitachi High-Technologies Corporation, Nikon Corporation, bioMérieux S.A., Shimadzu Corporation, PerkinElmer Inc., Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN N.V., Horiba Ltd., Eppendorf AG, Tecan Trading AG, JEOL Ltd., Leica Microsystems, Cytek Biosciences Inc., Sigma Laborzentrifugen GmbH.

North America was the largest region in the life science instrumentation market in 2023. The regions covered in the life science instrumentation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the life science instrumentation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Life science instrumentation encompasses a variety of tools and devices employed in biological and medical research and analysis. These instruments enable scientists to study the structure, function, and interactions of biological molecules, cells, and organisms. They find applications in areas such as genomics, proteomics, cell analysis, and drug discovery.

Key categories of life science instrumentation include spectroscopy, chromatography, polymerase chain reaction (PCR), immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, and flow cytometry, among others. Spectroscopy, for instance, measures the interaction between light and matter to reveal information about the composition, structure, and properties of substances by analyzing the light's emitted, absorbed, or scattered spectrum. These instruments are used across various domains, including research, clinical diagnostics, and more. Typical end users include hospitals and diagnostic labs, pharmaceutical and biotech companies, academic and research institutions, agriculture and food sectors, environmental testing laboratories, and clinical research organizations.

The life science instrumentation market research report is one of a series of new reports that provides life science instrumentation market statistics, including the life science instrumentation industry's global market size, regional shares, competitors with a life science instrumentation market share, detailed life science instrumentation market segments, market trends and opportunities, and any further data you may need to thrive in the life science instrumentation industry. This life science instrumentation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The life science instrumentation market consists of sales of electrophoresis apparatus, polymerase chain reaction machines, chromatographs, and robotic liquid handlers. 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.

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