NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The Analytical Instrument Market in US size is estimated to grow by USD 4.7 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 2.07% during the forecast period. Rise in demand for generic drugs is driving market growth, with a trend towards rise in usage of electrical and electronic components in automobile industry. However, challenges related to equipment design poses a challenge - Key market players include ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., Perkin Elmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp..
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Analytical Instrument Market In US Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.07% |
Market growth 2024-2028 |
USD 4.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
2.07 |
Regional analysis |
US |
Performing market contribution |
North America at 100% |
Key countries |
US |
Key companies profiled |
ABB Ltd., Agilent Technologies Inc., AMETEK Inc., Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., Emerson Electric Co., Eppendorf SE, F. Hoffmann La Roche Ltd., Fortive Corp., General Electric Co., Honeywell International Inc., Mettler Toledo International Inc., Mitsubishi Electric Corp., Perkin Elmer Inc., Shimadzu Corp., Siemens AG, Thermo Fisher Scientific Inc., Waters Corp., and Yokogawa Electric Corp. |
Market Driver
The automotive industry in the US is experiencing a resurgence following the global recession, with sales volumes of passenger cars and commercial vehicles returning to pre-crisis levels. This economic improvement, coupled with rising consumer confidence, has led to an increased demand for new, fuel-efficient, and technologically advanced cars. Two communication technologies, MOST150 and Broad R-Reach Ethernet, are being increasingly adopted in vehicles for wired and wireless connections. Additionally, entertainment systems in cars utilize Wi-Fi and Bluetooth for wireless connectivity. In the US, embedded cellular technology plays a significant role in eCall, automatically alerting emergency centers in case of accidents. Advanced features, such as GPS systems and Wi-Fi hotspots, are also being integrated into cars. The implementation of these communication and technological advancements is anticipated to generate demand for electrical measurement equipment in the US automobile sector, contributing to the growth of the market during the forecast period.
The Analytical Instrument Market in the US is experiencing significant growth due to increasing trends in various sectors. NMR spectrometers are in high demand for genomics research, identifying genetic mutations, and diagnostics. Next-generation sequencing and molecular imaging are transforming pharmaceuticals and drug monitoring in diagnostic centers. Toxicology and biomarkers detection are crucial in various industries, including food-processing, oil and gas, electric vehicles, and energy systems. Separation and quantification techniques are essential for chemical components in natural and artificial materials. Calorimeters and melting point analysis tools are used in pharmaceuticals and material sciences. X-Ray diffractometers and friability testers are vital for quality control in industries like food testing and pharmaceuticals. Emerging trends include electron microscopy at the atomic scale, pharmaceutical biosimilars, phytopharmaceuticals, regenerative medicines, pollution control, and environmental testing. Shale gas production relies on gas chromatography for food safety testing and quantitative screening. The life sciences and material sciences sectors continue to drive market growth, with applications in cleaner energy, electronics, and advanced research.
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Market Challenges
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Segment Overview
This analytical instrument market in US report extensively covers market segmentation by
1.1 Process control instruments- The Analytical Instruments market in the US is experiencing steady growth. Key players include Thermo Fisher Scientific, Agilent Technologies, and Shimadzu. These companies offer a range of instruments for various industries such as pharmaceuticals, food and beverage, and academia. Growth is driven by increasing demand for accurate and efficient analysis of samples. Market size was valued at USD21.5 billion in 2020 and is projected to reach USD30.5 billion by 2026, growing at a CAGR of 6.5% during the forecast period.
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Research Analysis
The Analytical Instrument Market in the US is a significant and dynamic industry, focused on providing advanced tools and technologies for various sectors, including laboratory tools, chemical substances, clinical diagnostics, life sciences research, and more. These instruments play a crucial role in the analysis of chemical components, natural materials, and artificial materials, among others, through techniques such as spectroscopy, chromatography, Polymerase Chain Reaction (PCR), microarray, sequencing technologies, and more. Applications span across various industries, including biotechnology, personalized medicine, genomics, proteomics, metabolomics, molecular analyses, drug discovery, and separation. Technologies like calorimeters, melting point analysis, spectrophotometers, X-Ray diffractometers, friability testers, and food-processing instruments contribute to the market's diversity. The market continues to evolve, driven by advancements in technology and the increasing demand for accurate and efficient analytical solutions.
Market Research Overview
The Analytical Instrument Market in the US is a significant and dynamic industry that caters to various sectors, including laboratory tools, chemical substances, clinical diagnostics, life sciences research, and the biotechnology industry. This market encompasses a range of analytical instrumentation, including spectroscopy, chromatography, polymerase chain reaction (PCR), microarray, sequencing technologies, and microscopy instruments. These tools play a crucial role in drug development, precision medicine, molecular diagnostics, and biotherapeutics. They facilitate molecular analyses of genetic information, drug responses, genomics, proteomics, metabolomics, and biomarkers detection. Regulatory guidelines, such as Good Laboratory Practices (GLPs) and Good Manufacturing Practices (GMPs), ensure instrument validation, calibration, quality control, raw material analysis, in-process monitoring, and final product testing. Spectrometers, chromatographs, mass spectrometers, pH meters, particle size analyzers, and various other instruments are used in this industry, requiring skilled professionals to operate and maintain them. Applications include cancer research, infectious diseases, chronic diseases, therapeutic proteins, and toxicology testing. The market continues to evolve with advancements in automation, robotics, miniaturization, and emerging technologies like Raman spectroscopy, NMR spectrometers, next-generation sequencing, and molecular imaging.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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 17,000 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.
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SOURCE Technavio