IMARC Group's report titled "Analytical Instrumentation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The global analytical instrumentation market size reached US$ 46.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 69.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.89% during 2023-2028.Factors Affecting the Growth of the Analytical Instrumentation Industry:
• Increasing Research and Development (R&D) Activities:
The surge in research and development (R&D) activities across various sectors, notably in pharmaceuticals, biotechnology, and materials science, is propelling the market growth.
• Regulatory Compliance and Quality Assurance:
Regulatory compliance and quality assurance are critical factors driving the demand for analytical instrumentation in various industries. In line with this, the imposition of stringent regulations, which govern product quality, safety, and environmental impact, necessitating rigorous testing and continuous monitoring, is favoring the market growth.
• Technological Advancements:
The recent development of miniaturized devices, which offer the benefits of portability and require smaller sample volumes, making them ideal for on-field analyses and point-of-care diagnostics, is propelling the market growth.
Leading Companies Operating in the Global Analytical Instrumentation Industry:
• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• Mettler Toledo
• PerkinElmer Inc.
• Shimadzu Corporation
Global Analytical Instrumentation Market Trends:
The widespread utilization of analytical instruments in the life sciences sector for decoding genetic information, understanding protein functions, and developing targeted therapies, is fueling the market growth.
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