The global biotechnology instruments market size was valued at USD 41.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.66% from 2021 to 2028. The high adoption of point-of-care diagnostic devices is a key factor driving the market. Continuous advancements in R&D have enhanced the capabilities of point-of-care (POC) testing systems. Novel equipment offer a broad menu of tests, which can be used in multiple hospital settings. Novel POC devices allow real-time transmission of test results to the electronic medical record of patients for easy review from physicians. The systems have also been designed in a way that they can easily comply with changes in laboratory regulations. A rise in the prevalence of chronic disorders, including infectious diseases (such as COVID-19), cardiovascular disorders, diabetes, cancer, and others, is also expected to propel the market growth.
Scientists and researchers from decentralized and centralized laboratories have used nanopore sequencing to facilitate the rapid sharing of sequence data from SARS-CoV-2. Researchers have been quick in sharing sequenced genomes on public databases, including GenBank and GISAID, to analyze public health responses. With an increase in the number of cases, laboratories have also built the capacity to sequence genomes from a large number of samples. Owing to these efforts, sequencing data of a wide range of samples are available in public databases.
In line with a rise in COVID-19 cases, companies are providing nucleic acid purification expertise, collaborative technical support, amplification solutions, and labeling technologies, which can streamline workflows and expedite the work of researchers engaged in the detection of COVID-19. For instance, Maxwell Instruments of Promega Corporation assist laboratories engaged in the development of coronavirus tests and research solutions in managing the current pandemic.
Laser therapy offers various benefits, which increase the adoption rate of medical lasers. The precision of lasers is far greater than that of surgical instruments, which makes it an ideal tool for cutting tissues with short, shallow cuts, causing less damage to the body. Cool laser treatments offer an effective and safe alternative to oral analgesics, such as Oxycodone, OxyContin, corticosteroid injections, and other opiate pain medications, which can potentially be relatively toxic and highly addictive.
The life science consumables segment dominated the market in 2020 with a revenue share of over 55.0% and is expected to grow at the fastest rate over the forecast period. The launch of new PCR test kits is expected to be a major driver for the segment. The COVID-19 pandemic has led to the rapid increase in the adoption of RT-PCR kits, making significant contributions to life science consumables segment revenue. The WHO has also urged regions to increase the early detection of COVID-19, which is driving the adoption of reagents and kits on a large scale.
Medical lasers have emerged as a lucrative market space, primarily due to their expanding applications. Medical lasers have been used predominantly in various surgical procedures. Recent developments in lasers in terms of convenient usage, compact devices/miniaturization, and self-contained modules have created new opportunities for market expansion in neurosurgery, ophthalmology, dermatology, and dentistry.
The availability of advanced and flexible technologies employed to develop the latest generation of medical lasers has shifted the use of these lasers from primary applications, such as cutting or removing to critical treatment approaches for repairing damaged areas in the body. Automation is expected to gain wider acceptance in the field of biotechnology, contributing to the growth of the lab automation segment. Technological advancements in automated liquid handling and innovations in bioinformatics and liquid biopsy are expected to significantly contribute to the growth of precision medicine.
The advent of microarrays and lab-on-chip technology is expected to revolutionize laboratory workflow processing. A rapid increase in the number of assays being performed for various research purposes, such as target screening in oncology research, has increased the demand for low-volume, high-throughput liquid handling tools and techniques. Automated Liquid Handlers (ALH) have gradually become a significant part of workflows in most of the large- and medium-scale life sciences research laboratories.
Hospitals and healthcare facilities accounted for the largest revenue share of over 45.0% in 2020. COVID-19 has fueled the demand for IVD point-of-care devices in hospitals. Recent advancements in IVD instruments have made them convenient to use and highly efficient, which has raised their adoption across healthcare settings.
For instance, in February 2021, Beckman Coulter introduced DXH560 AL, a tabletop hematology analyzer. It is intended to minimize the time and resource restriction faced by mid-and small-sized laboratories. The tabletop hematology analyzer provides results within a minute or less. It can be used with difficult-to-draw patients (elderly, oncology, and infants) because it required 17 μL specimens, which is less than a blood drop.
Owing to the high consumer expectations pertaining to diagnosis accuracy, speed, and procedural affordability of instruments used in clinical laboratories, several companies are continuously advancing their portfolio to meet the needs of healthcare professionals. For instance, in October 2020, Becton, Dickinson & Company secured FDA clearance for FACSLyric flow cytometry with the joined BD FACSDuet sample preparation system. The product enables clinical laboratories to fully automate sample preparation and improve their efficiency.
North America captured the largest revenue share of over 40.0% in 2020 owing to the high demand and affordability of biotechnology instrumentation. In addition, the inclination toward manual automation in the biotechnology, pharmaceuticals, and related industries in the region is boosting the demand for advanced and sophisticated instruments to ease and accelerate the process. Furthermore, the availability of government funding for research is anticipated to boost the market growth.
In July 2020, the National Institutes of Health (NIH) invested USD 248.7 million for the development of novel techniques to address limitations related to COVID-19 testing. Several local companies have invested in the development of novel technologies. For instance, in November 2020, Enzo Biochem launched a small portable microplate reader for point-of-care clinical testing.
The Canadian industry is leaning toward the automation of laboratories to increase the potential of industrial output and clinical settings. In June 2021, ATS Automation Tooling Systems, Inc. acquired BioDot, Inc., an automated fluid dispensing systems manufacturer, to expand its life sciences capabilities. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to the rapidly improving economy and growing investments in the biotechnology sector.
The COVID-19 pandemic has created a need for rapid diagnostic assays and self-testing kits, and several companies are actively fulfilling these requirements. In December 2020, Shimadzu Corporation launched fully automated PCR testing AutoAmp Genetic Analyzer (AutoAmp) in Japan. This enhanced the COVID-19 testing capabilities of clinics in Japan.
The market for biotechnology instruments is marked by the presence of several well-established and emerging players. Well-established players have undertaken strategies such as product launches, mergers, and acquisitions to increase their market share. In July 2021, Lumenis launched MOSES 2.0 Next-Generation Holmium Laser Technology to improve the efficiency of urinary stones and enlarged prostate procedures by optimizing laser energy transmission. The life sciences tools and platforms industry has more than 3,600 startups, which include instrument and consumable manufacturers such as lab automation devices, assay platforms, kits and reagents, and other instruments. The sector has received overall funding of USD 72.5 billion, out of which more than 30% has been raised from 2018-2020. Therefore, a rise in funding initiatives helps startups to expand their market footprint. Some prominent players in the global biotechnology instruments market include:
Abbott
Agilent Technologies
Alcon, Inc.
AngioDynamics
Becton, Dickinson, and Company
BioMerieux SA
Bio-Rad Laboratories
BioTek Instruments, Inc.
Candela Medical
Cynosure, LLC
Danaher Corporation
Endress+Hauser (Analytik Jena GmbH)
F. Hoffmann-La Roche Ltd.
IIlumina Inc.
IRIDEX
Lumenis
Merck KGaA
Novanta, Inc.
Perkin Elmer, Inc.
QIAGEN
Siemens Healthineers
Tecan Group AG
Thermo Fisher Scientific, Inc.
Waters Corporation
Zimmer MedizinSysteme
Report Attribute |
Details |
Market size value in 2021 |
USD 47.47 billion |
Revenue forecast in 2028 |
USD 106.75 billion |
Growth rate |
CAGR of 12.66% from 2021 to 2028 |
Base year for estimation |
2020 |
Historical period |
2017 - 2019 |
Forecast period |
2021 - 2028 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segment coverage |
Product, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; Germany; U.K.; France; Spain; Italy; Japan; China; India; Brazil; Mexico; South Africa; Saudi Arabia |
Companies profiled |
Abbott; Agilent Technologies; Alcon, Inc.; AngioDynamics; Becton, Dickinson, and Company; BioMerieux SA; Bio-Rad Laboratories; BioTek Instruments, Inc.; Candela Medical; Cynosure, LLC; Danaher Corporation; Endress+Hauser (Analytik Jena GmbH); F. Hoffmann-La Roche Ltd.; IIlumina Inc.; IRIDEX; Lumenis; Merck KGaA; Novanta, Inc.; Perkin Elmer, Inc.; QIAGEN; Siemens Healthineers; Tecan Group AG; Thermo Fisher Scientific, Inc.; Waters Corporation; Zimmer MedizinSysteme |
Customization scope |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of the customization |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global biotechnology instruments market report on the basis of products, end-use, and region:
Product Outlook (Revenue, USD Million, 2017 - 2028)
Lab Automation Instruments
Proteomics
Genomics
Sequencing
Spatial Cell Analysis
Others
Life Science Consumables
IVD Instruments
Medical Lasers
Therapeutics
Ophthalmic
Ablation
End-use Outlook (Revenue, USD Million, 2017 - 2028)
Government & Academic Institutes
Pharmaceutical & Biotechnology Companies
Hospitals & Healthcare Facilities
Others
Regional Outlook (Revenue, USD Million, 2017 - 2028)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Spain
Italy
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
MEA
South Africa
Saudi Arabia
b. Hospitals & healthcare facilities dominated the biotechnology instruments market with a share of 48.24% in 2020. This is attributable to an increase in demand for in vitro diagnostic (IVD) point-of-care devices in clinical laboratories and hospitals
b. Some key players operating in the biotechnology instruments market include Abbott; Agilent Technologies; Alcon, Inc.; AngioDynamics; Becton, Dickinson, and Company; BioMerieux SA; Bio-Rad Laboratories; BioTek Instruments, Inc.; Candela Medical; Cynosure, LLC.; Danaher Corporation; Endress+Hauser (Analytik Jena GmbH); F. Hoffmann-La Roche Ltd.; IIlumina Inc.; IRIDEX; Lumenis; Merck KGaA; Novanta, Inc.; Perkin Elmer, Inc.; QIAGEN; Siemens Healthineers; Tecan Group AG; Thermo Fisher Scientific, Inc.; Waters Corporation; Zimmer MedizinSysteme
b. Key factors that are driving the biotechnology instruments market growth include increasing demand for Point-of-care (POC) tests and devices, the growing prevalence of target diseases and rising geriatric population, advantages offered by laser therapy, technological advancements
b. The global biotechnology instruments market size was estimated at USD 41.14 billion in 2020 and is expected to reach USD 47.47 billion in 2021.
b. The global biotechnology instruments market is expected to grow at a compound annual growth rate of 12.66% from 2021 to 2028 to reach USD 106.75 billion by 2028.
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Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for COVID-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for COVID-19 as a key market contributor.
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