Biotechnology Instruments Market - By Product (Analytical Instruments {Spectroscopy, PCR}, Lab Automation, Sequencing Instruments, Imaging Instruments), Application (Clinical Diagnostics, Proteomics & Genomics), End-user, Global Forecast, 2023-2032

Biotechnology Instruments Market Size

Biotechnology Instruments Market size was valued USD 61.1 billion in 2022 and is expected to grow at a CAGR of over 4.4% between 2023 and 2032, driven by the increasing demand for precision diagnostics, advances in molecular biologics, genomics, and the need for advanced analytical techniques.
 

Additionally, the rising prevalence of chronic conditions such as infectious diseases, cardiovascular diseases, diabetes, sepsis, and cancer is expected to propel the market growth. For instance, according to Cancer Atlas, cancer cases are projected to increase from 18 million cases in 2018 to an estimated 29 million by 2040. Therefore, the growing burden of cancer has surged the demand for effective diagnostics techniques. Thus, advances in biotechnology industry offer optimism for early cancer diagnostics and treatment, with biotechnological techniques providing a growth avenue for the market.
 

Biotechnology instruments are the specialized systems employed in the field of biotechnology for various applications. These instruments play a crucial role in operating biological systems, analysing biomolecules, and conducting experiments to advance biotechnological research.
 

COVID-19 Impact

The COVID-19 pandemic accelerated the innovation in biotechnology instruments, leading to advancements in rapid testing technologies and increased focus on digital solutions. The growing demand for diagnostic tools, such as PCR machines and gene sequencers, expanded the market growth. In response to the pandemic, key players and government authorities persistently dedicated efforts to innovate and implement state-of-the-art solutions to halt the spread of the virus.
 

For instance, National Institutes of Health (NIH) collaborated with the Biomedical Advanced Research and Development Authority (BARDA) as part of the Rapid Acceleration of Diagnostics (RADx) initiative. This partnership aimed to advance COVID-19 testing technologies, emphasizing innovative sample collection, processing, and rapid result delivery approaches, thereby bolstering the market.
 

Biotechnology Instruments Market Trends

• Governments worldwide are continuously focusing on substantial investments to bolster the biotechnology and life sciences sectors, employing various strategies such as increased funding and favorable policies. For instance, the U.S. and China, leads in life sciences advancements, are actively investing to enhance their global positions in the pharmaceutical and biotech market. The U.S. has pledged USD 2.8 billion in federal spending through the National Biotechnology and Biomanufacturing Initiative.
   
• In addition, the escalating prevalence of chronic disorders such as cancer, sepsis, and antimicrobial resistance has heightened the demand for diagnostics. For instance, according to WHO, globally, 49 million people experience sepsis annually, resulting in 11 million attributed deaths. Alarmingly, one in five deaths globally is linked to sepsis. Increasing concern about rising chronic conditions is anticipated to drive market demand.
   
• Moreover, ongoing advancements, product approvals, and strategic approaches to deliver innovative solutions by the key players are anticipated to drive market progress, meeting end-user demands.
   

Biotechnology Instruments Market Analysis

Based on product, the global market is segmented into analytical instruments, lab automation instruments, sequencing instruments, imaging instruments, cell analysis instruments and other products. The analytical instruments segment is expected to lead the market, projecting the highest revenue of USD 38.5 billion by 2032.
 

• The analytical instruments inclusive of technologies like mass spectrometry, chromatography, and spectroscopy, plays a pivotal role in enabling precise analysis and characterization of biological samples.
   
• The demand for analytical instruments is fueled by their capability to provide accurate results, driving innovation and research in diverse biotechnological fields, and positioning them as key assets within the market landscape.
   
• In addition, innovations in analytical field have transformed drug discovery, proteomics, & genomics, enabling the rapid testing of thousands or even millions of compounds. For instance, in October 2023, CRAIC Technologies introduced FLEX PRO, its newest advancement in microspectrophotometry. This potent instrument seamlessly integrates UV-visible-NIR microspectroscopy and imaging, offering a cost-effective solution for applications in materials science, forensic analysis, and life sciences research.
   

Based on application, the biotechnology instruments market is classified into clinical diagnostics, drug discovery and development, proteomics & genomics, cell analysis, and other applications. The clinical diagnostics segment dominated the market in 2022 accounting for the highest share of 42.9%.
 

• Diagnostics comprise of a wide array of instruments crucial for detecting and analyzing diseases, ranging from molecular diagnostics to imaging technologies. For instance, in November 2023,
   
• Roche unveiled the LightCycler PRO system, a groundbreaking innovation that redefines performance and user-friendliness, seamlessly connecting translational research with in vitro diagnostics. The product launch aims to enhance the flexibility by enabling a smooth transition between research and clinical applications.
   
• Thus, the prominence of clinical diagnostics is underscored by its pivotal role in disease identification, treatment monitoring, and patient care.
   

Based on end-user, the biotechnology instruments market is categorized into pharmaceutical & biotechnology companies, hospitals and diagnostic laboratories, academic and research institutes, and other end-users. The pharmaceutical & biotechnology companies segment is expected to exhibit 3.9% CAGR between 2023 – 2032.
 

• Pharmaceutical & biotechnology companies extensively depend on various instruments, including gene sequencers, protein analyzers, and high-throughput screening systems, to propel drug discovery, development, and production processes.
   
• The ongoing quest for innovative therapies, precision medicine, and advanced research methodologies sustains the need for state-of-the-art biotechnology instruments. This high demand for biotechnology instruments is anticipated to boost the segment progression.
   

In 2022, North America held a significant market share of 42% in the biotechnology instruments market and is anticipated to dominate the market throughout the forecast period.
 

• North America establishes its dominance in the global market due to the increasing focus on R&D initiatives, coupled with increased public-private investments that play a vital role in driving market growth. For instance, in August 2023, the U.S. Department of Health and Human Services, received over USD 1.4 billion for Project NextGen through the Administration for Strategic Preparedness and Response. This funding aims to support the development of advanced tools and technologies for sustained protection against COVID-19.
   
• Consequently, ongoing advancements, heightened government investments in biotechnology instruments, and the adoption of innovative systems collectively establish the U.S. as the world's most lucrative market in this domain.
   
• Further, the key players are making substantial investments, maintaining a consistent focus on innovation and expansion to fortify their market position. For instance, in August 2023, Anbio debuted in-vitro diagnostic products in North America at the 2023 AACC annual scientific meeting, showcasing CLIA, FIA, LAMP, RT-PCR, and lateral flow solutions. This launch bolsters Anbio's North American product portfolio, thus aiding in high regional expansion.
   

Biotechnology Instruments Market Share

The biotechnology instruments industry is marked by intense competition, with key players focusing on innovation and strategic approaches. The market is dynamic, characterized by ongoing technological advancements with cutting-edge integrated solutions and a strong emphasis on R&D, driving the scientific progress to meet the healthcare needs.
 

Prominent market players operating in the biotechnology instruments industry is as mentioned below:

• Thermo Fisher Scientific, Inc.
• Abbott
• Waters Corp.
• Shimadzu Corp.
• Agilent Technologies, Inc.
• Bruker Corp.
• PerkinElmer, Inc.
• Zeiss Group
• Bio-Rad Laboratories, Inc.
• Illumina, Inc.
• BIOMÉRIEUX S.A.
• F. Hoffmann-La Roche AG
• Sartorius AG
• Avantor, Inc.
• Eppendorf SE
   

Biotechnology Instruments Industry News

• In October 2023, Revvity, Inc. and Element Biosciences, Inc., creator of the AVITI System, a cutting-edge genomic sequencing platform, partnered to present workflow solutions simplifying the genomic analysis of samples. This collaboration aims to enhance the accessibility of high-quality sequencing, providing a comprehensive solution for improved efficiency.
   
• In May 2023, Opentrons introduced the Opentrons Flex robot, a cost-effective and user-friendly liquid-handling lab robot, aiming to democratize advanced lab automation for labs of all sizes. The product is designed to enhance lab's efficiency and flexibility. This helped the company to expand its product offerings.
   

The biotechnology instruments market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Product, 2018 – 2032 (USD Million)

• Analytical instruments
  • Polymerase chain reaction (PCR)
  • Spectroscopy
  • Microscopy
  • Chromatography
  • Flow cytometry
  • Multiparameter system
  • Other analytical instruments 
• Lab automation instruments
  • Liquid handling systems
  • Robotic systems
  • Other lab automation instruments
• Sequencing instruments
• By technology
  • Next-generation sequencers (NGS)
  • Capillary electrophoresis systems
• Imaging instruments
• Cell analysis instruments
  • Centrifuge
  • Bioreactors
  • pH meter
  • Laminar flow
  • Autoclave
  • Other cell analysis instruments
• Other products

By Application, 2018 – 2032 (USD Million)

• Clinical diagnostics
• Drug discovery and development
• Proteomics & genomics
• Cell analysis
• Other applications

By End-user, 2018 – 2032 (USD Million)

• Pharmaceutical & biotechnology companies
• Hospitals & diagnostic laboratories
• Academic & research institutes
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa