Biotechnology Instrument Market
Biotechnology Instrument Market Study by Lab Automation Instruments, Medical Lasers, and Life Science Consumables from 2024 to 2034
Analysis of Biotechnology Instrument Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Biotechnology Instrument Market Outlook (2024 to 2034)
The global biotechnology instrument market is calculated at US$ 67.24 billion in 2024, as revealed in the updated market research report by Fact.MR. Worldwide sales of biotechnology instruments are evaluated to accelerate at 12.5% CAGR and reach US$ 218.11 billion by the end of 2034.
There has been a steady increase in the cases of chronic diseases such as cancer, diabetes, and cardiovascular diseases around the world. As such, need for efficient diagnostic techniques has been increasing in parallel. Constant advancements in biotechnology are driving demand for biotechnology instruments for effective operation.
Increasing demand for point-of-care devices/tests is contributing to the rising sales of biotechnology instruments. These instruments are employed in the biotechnology field for multiple applications. They play a vital role in analyzing biomolecules, conducting experiments, and operating biological systems to conduct biotechnological research.
Governments in several countries, including China and the United States, are constantly investing to strengthen their life science and biotechnology sectors. They are involved in framing favorable policies and offering funding for R&D activities conducted in the biotech and pharmaceutical sectors. In addition, there is a growing adoption of biotechnology instruments for increasing productivity and streamlining workflow with the automation of repetitive tasks such as sample handling and analysis.
There is also growing use of biotechnology instruments by industry professionals and researchers for exploring the complexities of biotechnology systems. These instruments are also used for harnessing the complete potential for societal benefits and innovations.
- Global sales of biotechnology lab automation instruments are projected to climb at 12.8% CAGR and reach US$ 112.67 billion by the end of 2034.
- Demand for biotechnology instruments in Japan is analyzed to accelerate at a CAGR of 5.1% from 2024 to 2034.
- Sales of biotechnology instruments in China are evaluated to rise at a high-value CAGR of 16.9% and reach US$ 24.49 billion by 2034-end.
| Report Attribute | Detail |
|---|---|
| Biotechnology Instrument Market Size (2024E) | US$ 67.24 Billion |
| Forecasted Market Value (2034F) | US$ 218.11 Billion |
| Global Market Growth Rate (2024 to 2034) | 12.5% CAGR |
| Market Share of Pharmaceutical & Biotechnology Companies (2034F) | 37% |
| South Asia & Pacific Market Share (2034F) | 21.6% |
| Canada Market Growth Rate (2024 to 2034) | 18.5% CAGR |
| Key Companies Profiled | Waters Corporation; F. Hoffmann-La Roche Ltd.; Abbott; Zimmer MedizinSysteme; Agilent Technologies; Thermo Fisher Scientific, Inc.; BioMerieux SA; Siemens Healthineers; Bio-Rad Laboratories; Perkin Elmer, Inc.; BioTek Instruments, Inc.; Novanta, Inc.; Candela Medical; Merck KGaA; Cynosure, LLC; IIlumina Inc.; Danaher Corporation. |
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Which Key Drivers are Responsible for Global Market Expansion?
“Growing Prevalence of Target Diseases Augmenting Demand for Biotechnology Instruments”
One of the prominent biotechnology instrument market growth drivers is increasing cases of chronic diseases around the world. These health issues lead to the rising need for surgical procedures, which is contributing to the increasing demand for biotechnology instruments. Healthcare professionals are actively looking for instruments with high sensitivity, specificity, and accuracy, customized to match their unique clinical requirements. Dependability and quality of biotechnology instruments are contributing to their increased adoption in the healthcare sector.
“Rising Demand for POC (Point-of-Care) Tests”
Rising requirements for POC tests across the globe are contributing to the increased sales of biotechnology instruments. These devices are used for identifying parameters of various conditions such as thyroid function, cardiac markets, fertility, diabetes, metabolic markers, inflammation, and coagulation markers. These instruments are used in diagnostic ecosystems for carrying out accurate and reliable tests at economic prices, thereby helping in rapid decision-making.
Which Drawbacks of Biotechnology Instruments are Manufacturers Expected to Work More On?
“Growing Concerns about Malfunctioning of Tools and Availability of Counterfeit Instruments”
Increasing public concerns about genetically modified crops and their adverse effects on human health are limited by the use of biotechnology tools. Even a slight possibility of the leakage of hazardous bacteria and viruses from research facilities cast doubt on the efficiency of biotechnology tools. In addition, these instruments are also utilized for creating deadly viruses, which are resulting in detrimental effects on human health, which is a key, negative biotechnology instrument market trend.
Increasing popularity of biotechnology instruments has led to the development of various counterfeit instruments, which poses a risk while handling hazardous bacteria. These issues are limiting the opportunities for suppliers of branded instruments.
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What New Approaches are Startups Using to Establish Themselves in the Market?
“High Investments in Developing More Effective and Safer Biotechnology Instruments”
New market players are leveraging opportunities created by the rising preference for medical tools or instruments with improved efficiency and safety. They are actively involved in manufacturing biotechnology instruments with high-level multiplexing for the detection of various infectious diseases, thereby making them more suitable for syndromic testing.
Country-wise Insights
Fact.MR, a market research and competitive intelligence provider, in its recently updated industry analysis, reveals that North America is projected to account for 35.6% of the global biotechnology instrument market share by the end of 2034. Growing demand for affordable biotechnology instruments in the region is generating remunerative opportunities for market players. Popular trend of manual mechanization in pharmaceutical biotechnology is driving the demand for more effective equipment with ease of operation.
Why are Biotechnology Instruments Gaining Traction in the United States?
“Presence of Biotech Institutions Resulting in Growing Use of Biotechnology Instruments in Research Activities”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 20.72 Billion |
| Growth Rate (2024 to 2034) | 14.1% CAGR |
| Projected Value (2034F) | US$ 77.44 Billion |
The United States is evaluated to capture 80.3% share of the market in North America by the end of 2034. The country is home to well-known biotech institutions such as the Massachusetts Institute of Technology, Cambridge. These institutes are constantly involved in research activities related to gene expression, thereby creating prospects for manufacturers of biotechnology instruments.
Why are There Increased Requirements for Biotechnology Instruments in India?
“Rising Investments in Biotech Research Activities”
| Attribute | India |
|---|---|
| Market Value (2024E) | US$ 3.25 Billion |
| Growth Rate (2024 to 2034) | 18.4% CAGR |
| Projected Value (2034F) | US$ 17.65 Billion |
India is approximated to occupy 66.7% share of the South Asia & Pacific market by the end of 2034. In recent years, there has been a considerable increase in R&D activities conducted in the biotech industry, which is generating prospects for suppliers of biotechnology instruments. With the economy growing and high focus being given to the healthcare sector, the country is set to emerge as a key market over the coming years.
What is Responsible for Growing Prominence of Biotechnology Instruments in South Korea?
“Increasing Burden of Target Diseases”
| Attribute | South Korea |
|---|---|
| Market Value (2024E) | US$ 2.41 Billion |
| Growth Rate (2024 to 2034) | 13.1% CAGR |
| Projected Value (2034F) | US$ 8.27 Billion |
South Korea is analyzed to hold 21% share of the market in East Asia by 2034-end. In recent years, an increase in the cases of Alzheimer's disease, cancer, and cardiovascular diseases has been registered in the country, which is generating demand for more advanced diagnostic tests, and subsequently, biotechnology instruments.
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Category-wise Insights
Recently updated report by Fact.MR asserts that increasing demand for biotechnology lab automation instruments is owing to their precise handling capabilities. These instruments are used extensively to match high accuracy requirements in laboratory procedures, which is further contributing to the expanding biotechnology instrument market size.
Which Component of Biotechnology Instruments is Used More?
“Rising Use of Biotechnology Lab Automation Instruments for Laboratory Processes without Frequent Monitoring and Maintenance Requirements”
| Attribute | Biotechnology Lab Automation Instruments |
|---|---|
| Segment Value (2024E) | US$ 33.78 Billion |
| Growth Rate (2024 to 2034) | 12.8% CAGR |
| Projected Value (2034F) | US$ 112.67 Billion |
Biotechnology lab automation instruments are projected to account for a market share of 51.7% by the end of 2034. These instruments are used in genomics, proteomics, spatial cell analysis, and sequencing, which is further contributing to their increased demand. Growing requirements for biotechnology lab automation instruments are attributed to their feature of independent operation without human intervention. They work for extended times without the need for frequent maintenance and monitoring.
Which End User is Generating Remunerative Opportunities for Market Players?
“Surging Use of Biotechnology Instruments in Pharmaceutical & Biotechnology Companies”
| Attribute | Pharmaceutical & Biotechnology Companies |
|---|---|
| Segment Value (2024E) | US$ 25.94 Billion |
| Growth Rate (2024 to 2034) | 12% CAGR |
| Projected Value (2034F) | US$ 80.61 Billion |
Pharmaceutical & biotechnology companies are evaluated to capture 37% of the global market revenue share by 2034. State-of-the-art manufacturing processes and instruments are required in the development of niche biotechnology-derived drugs. Rising prominence of biopharmaceuticals is contributing to the growing demand for safer and more effective biotechnology instruments. Refining operation effectiveness with the use of the best possible equipment and implementation of flexible and new systems help biopharmaceutical companies reduce production costs and improve on product innovations.
Competitive Landscape
Key players in the biotechnology instrument market are actively involved in new product development, offering quality products, and management of supply chain systems. They are constantly putting efforts into innovations to ensure the supply of more effective instruments.
For instance :
- Lumenis, in July 2021, came up with Next-generation Holmium Laser Technology, MOSES 2.0. This technology will increase the effectiveness of the operation of enlarged prostate and urinary stones. The company is offering energy-based medical devices for use in surgical, ophthalmic, and aesthetic applications.
Fact.MR provides detailed information about the price points of key manufacturers of biotechnology instruments positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.
Segmentation of Biotechnology Instrument Market Research
-
By Component :
- Biotechnology Lab Automation Instruments
- Biotechnology Medical Lasers
- Biotechnology Life Science Consumables
-
By End User :
- Government & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Facilities
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- MEA
- FAQs -
How big is the biotechnology instrument market in 2024?
The global biotechnology instrument market is calculated at US$ 67.24 billion in 2024.
What are the sales projections for biotechnology instruments for 2034?
Global sales of biotechnology instruments are forecasted to reach US$ 218.11 billion by 2034.
At what CAGR is the demand for biotechnology instruments forecasted to accelerate?
The global market is projected to expand at a CAGR of 12.5% from 2024 to 2034.
What is the contribution of North America to global market revenue?
North America is evaluated to capture 35.6% of the global market share by 2034.
At what rate is the demand for biotechnology instruments evaluated to increase in South Korea?
The market in South Korea is calculated to accelerate at 13.1% CAGR from 2024 to 2034.
How much share of the market are biotechnology lab automation instruments analyzed to account for?
Biotechnology lab automation instruments are approximated to capture 51.7% of global market revenue by 2034.
Who are some of the leading manufacturers of biotechnology instruments?
Waters Corporation, F. Hoffmann-La Roche Ltd., Abbott, Zimmer MedizinSysteme, and Agilent Technologies are leading manufacturers of biotechnology instruments.
Biotechnology Instrument Market