‘Industry 4.0’ has enabled complete automation of complex processes in various sectors including packaging and automobile, with manufacturing industries leveraging the most out of it. A new entrant in the list are life sciences companies working in the fields of pharmaceuticals, technologies, biotechnology, biomedical, life systems technologies, cosmeceuticals, food processing, nutraceuticals, environmental, and biomedical devices. Research and development being the core of life sciences companies, laborites are an integral part of it. ‘Smart lab’ is a major trend in [FURL=https://www.industryarc.com/Report/18892/life-sciences-and-lab-equipment-market]life sciences and lab equipment market[/FURL] , as end-users are demanding automation of processes to enhance pace of research programs and better visualization of end results. Consequently, during the yesteryears, the market has witnessed major companies introducing lab equipment centric towards automation.Download Sample Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=18892[/FURL]
Genomics to consumer electronics, research programs and inevitable fragment of development:
Globally, there are numerous private as well as governmental bodies aiding the influx of investment in various research programs in the field of pharmaceutical, biotechnology and bio medical devices that is further adding impetus to the global market demand. For example, The National Institutes of Health (NIH), U.S. is funding a $25m ‘All of Us’ research program. It will collect several health and biometric data that includes samples of DNA and blood, information on daily routine of individuals, and environmental data from 1 million Americans. Visualization of these datasets will spur the development of personalized medicine, as it will assist in better understanding of health of people on the basis of various parameters.
Application verticals of lab equipment are not juts limited to pharmaceuticals and biomedical company, but the modern consumer electronics companies are also investing into R&D for devices centric to healthcare. For example, Apple Inc. annual R&D spending has increased from $1 billion in 2009 to an estimated over $13 billion in 2018. Similar to the growth in the number of research programs in various field of life sciences including cell culture, cancer research, drug discovery, and genomics, consumer electronics companies with R&D investments is influencing the global technical lab equipment market demand. Such figures depicts the high number of research programs being initiated annually in various fields. As a consequence, the global life sciences and lab equipment market size is estimated to be progressing at a CAGR of 7.37%, during the forecast period of 2019-2025.
Life Sciences and Lab Equipment Market Companies:
Some of the key players operating in the market are Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher Corporation, Waters Corporation, PerkinElmer, Inc., Becton, Dickinson and Company, F. Hoffmann-LA Roche AG, Bruker Corporation, Bio-Rad Laboratories, Inc., and Shimadzu Corporation.
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