Biotechnology Instruments Market

The global biotechnology instruments market is projected to reach USD 35.9 billion by 2027 from USD 21.4 billion in 2022, at a CAGR of 9% during the forecast period. The growth in the biotechnology instruments market is majorly driven by the significant expansion of continuous manufacturing in the biotech industry, increasing research focus on personalized medicine, and increasing research funding for novel manufacturing processes worldwide.

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However, premium product pricing and a shortage of skilled professionals are some factors expected to restrain market growth to a certain extent.

As of 2022, major players operating in the biotechnology instruments market are Abbott Laboratories (US), Agilent Technologies, inc. (US), Becton, Dickinson, and Company (US), Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), F.Hoffmann-La Roche AG (Switzerland), Bio-Rad Laboratories, Inc. (US), PerkinElmer, Inc. (US), Waters Corporation (US), and bioMérieux SA (France), among others.

Research Methodology

The study involved four major activities in estimating the current size of the biotechnology instruments market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Secondary Research

The secondary sources referred to in this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect helpful information for this extensive and commercial study of the biotechnology instruments market. Secondary research was mainly used to obtain critical information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and necessary developments by both the public and private organizations in the biotechnology instruments market.

The secondary sources for this research study include government, independent or public, paid/private, and research databases, among others. Secondary data was collected and analysed to arrive at the overall market size of the cardiac marker testing market, which was further validated by primary research. Some of the critical secondary sources referred to during the preparation of this report are listed below-

• Governmental and inter-governmental sources & databases such as World Health Organization (WHO), World Bank, Organisation for Economic Co-operation and Development (OECD), and Centers for Disease Control and Prevention (CDC), among others.
• Business and research articles such as Springer Nature, The Lancet, PubMed, and the US National Library of Medicine, among others.
• Company sources include annual reports, SEC filings, regulatory filings, investor presentations, press releases, and financial statements.

Primary Research

Extensive primary research was conducted after acquiring knowledge about the biotechnology instruments market scenario through secondary research. A significant number of primary interviews were driven by the demand (Biotech cos, biopharma cos, CROs, research labs, healthcare providers, and academic institutes) and supply sides (developers, manufacturers, and distributors of biotechnology products). The primaries interviewed for this study include experts from the biopharma/biotech industry  (such as CEOs, VPs, directors, sales heads, and marketing managers of tier 1, 2, and 3 companies engaged in offering consumables and instruments across the globe) and administrators & purchase managers of biotech/biopharma manufacturing & research facilities.

Around 65% and 35% of primary interviews were conducted from the supply and demand sides. A robust primary research methodology has been adopted to validate the report's contents and fill gaps. Telephonic and e-mail communications were adopted to conduct interviews (questionnaires were designed and sent to primary participants at their convenience).

The biotechnology instruments market comprises several stakeholders, such as biotech cos, biopharma cos, CROs, research labs, healthcare providers, and academic institutes. The demand side of this market is characterized by greater adoption of continuous manufacturing, increasingly stringent regulations for product quality assurance, and growing research funding for product development. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the biotechnology instruments market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
• All percentage shares split, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the biotechnology instruments market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the biotechnology instruments industry.

Report Objectives

• To define, describe, and forecast the biotechnology instruments market by product type, application, end-user, and region
• To provide detailed information about significant factors influencing the market growth (key drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets1 concerning individual growth trends, prospects, and their contributions to the overall biotechnology instruments market
• To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
• To forecast the market value of various segments and sub-segments concerning five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
• To profile the key players active in the biotechnology instruments market and comprehensively analyze their global revenue shares and core competencies2
• To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the cardiac marker testing  market

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Scope of the Report

This research report categorizes the biotechnology instruments market based on product type, application, end-user, and region

By Product Type

• Mass spectrometry
• Liquid chromatography
• Electrophoresis
• Next generation sequencing
• Bioreactors
• Immunoassay
• Spectrophotometers
• Incubators
• Centrifuges
• Other instruments

By Application

• Biotechnology manufacturing
• Spatial cell analysis
• Genomics
• Proteomics
• Other applications

By End User

• Biotechnology & Biopharmaceutical Companies
• Government & Academic Institutes
• Clinical research organizations
• Other end users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia & New Zealand
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the biotechnology instruments market report:

PRODUCT ANALYSIS

• Product Matrix, which gives a detailed comparison of the product portfolios of the top five global players

PRODUCT ANALYSIS

• Further breakdown of the Rest of Europe biotechnology instruments market into Russia, Portugal, Belgium, Denmark, Switzerland, and other European countries (aggregated)

COMPANY INFORMATION

• Detailed analysis and profiling of additional market players (up to 5 OEMs)

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