Biotechnology Instruments Market Size, Share & Trends Analysis Report By Product (Life Science Consumables, IVD Instruments, Medical Lasers, Lab Automation Instruments), By End-use, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

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.

Product Insights

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.

End-use Insights

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.

Regional Insights

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.

Key Companies & Market Share Insights

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

Biotechnology Instruments Market Report Scope

Segments Covered in the Report

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