Global Scientific Instrument Market - Trends, Drivers, Challenges, and Vendor Analysis Through 2022 - Technavio

LONDON--()--The global scientific instrument market is expected to grow at a CAGR of more than 6% during the period 2018-2022, according to a new market research study by Technavio.

The report presents a comprehensive research of the global scientific instrument market based on products such as laboratory analytical instruments and consumables and measuring and monitoring devices. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers

Market driver: increase in global R&D investments

Globally, the importance of investments in R&D is increasing since a robust R&D system forms the basis for the development of new products or enhancements of existing products. Increasing technological advances and the need for better analysis for researchers has led to increasing number of research projects and research studies which are using various scientific instruments to extract greater information and insights. The rise in the number of testing and research facilities particularly in the field of biotechnology and pharmaceutical will, in turn, lead to a rise in demand for scientific instruments as these instruments are the basis for generating relevant information which supports product innovation and development.

According to a senior analyst at Technavio for lab equipment, “The US had the largest investment in biotechnology R&D in 2015, with over USD 28 billion being invested by pharmaceutical and biotechnology R&D firms. With countries increasingly emphasizing on knowledge expansion and innovation, this inclination towards an increase in R&D spending will continue over the forecast period, which augurs well for the growth of the scientific instrument market.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: growing product promotional activities

Vendors in the scientific instruments market can no longer rely on direct sales force activities to ensure constant sales growth, and they must explore additional ways to promote their products. Key vendors such as Agilent Technologies, Bruker, Danaher, Horiba, PerkinElmer, and Thermo Fisher Scientific have enlisted their scientific instruments such as microscopes on leading eCommerce websites such as Amazon.com and alibaba.com as well as their websites for researchers to directly order and purchase their products.

These key vendors even have dedicated YouTube channels and official company pages on Twitter through which they upload interactive videos and promote products. Vendors engage their consumers and highlight the relevance of their products through informative videos and detailed infographics on digital media platforms.

Market challenge: compliance issues

Safety measures are defined by regulatory organizations which need to be followed at an organizational level in multiple industries such as pharmaceuticals, biotechnology, F&B, and chemicals to ensure the manufacture and sale of a safe product. However, as these industries are understaffed and under constant work pressure, adherence and compliance to regulatory procedures become difficult. This inherently leads to the production of contaminated products which in turn has an adverse impact on the lives of patients or consumers.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Some of the major companies in the global scientific instrument market:

  • Agilent Technologies
  • Bruker
  • Danaher
  • Horiba
  • PerkinElmer
  • Thermo Fisher Scientific
Big savings with Technavio this February!

Get 20% OFF on all

Education Technology reports. This offer is valid only till the 28th of this month.

OR

Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Information contained on this page is provided by an independent third-party content provider. This Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact support [at] perpetualwire.com.

Live Traffic in Jersey City, NJ