MarketInsightsReport has published a report titled global Analytical Laboratory Instrument Market research report 2020 that is a detailed observation of several aspects, including the rate of growth, technological advances and different methodologies implemented by the primary current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.
The global analytical laboratory instrument market was worth $93.86 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.3% and reach $124.41 billion by 2023.
Top Companies in the Global Analytical Laboratory Instrument Market are
Agilent Technologies, Inc. (NYSE:A), Waters Corporation (NYSE:WAT), Thermo Fisher Scientific Inc.(NYSE:TMO), Danaher Corporation, SP Industries, PerkinElmer, Danaher Corp, Chemglass Life Sciences Inc., Citotest Labware Manufacturing Co. Ltd., Kimble Chase and Others.
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The cost of life science instruments is expected to increase limiting the new purchases of analytical laboratory instruments. Development of advanced features and functionalities, technological advancements, innovative systems have added to their price. A High Performance Liquid Chromatography (HPLC) ranges from $12,000 to $50,000. The average estimated cost per batch for 90-L column, media, and labor is around USD $3,700 considering the amortized value of the equipment. Drug development companies require a significant number of laboratory instruments and the cost of investment increases substantially due to high prices. Therefore, the rising cost of instruments has a negative impact on the growth of analytical laboratory instruments.
In July 2019, Agilent technologies, an analytical laboratory instrument manufacturing company acquired BioTek instruments for $1.2 billion. This acquisition will help Agilent Technologies broaden its portfolio in cell analysis workflow and allow the company to deliver to provide its customers reliable insights across a range of cell analysis applications. BioTek instruments is a manufacturer of scientific instruments that is used in life sciences and quality assurance industries.
Types of the market are Element Analysis; Separation Analysis; Molucular Enalysis and Other.
Applications of the market are Hospitals; Diagnostic Laboratories; Pharmaceutical; Biotechnology and Other.
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Regions covered By Analytical Laboratory Instrument Market Report 2020 To 2023 are
North America (The United States, Canada, and Mexico), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Central & South America (Brazil, and Rest of South America), and Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other).
Effect of the Analytical Laboratory Instrument market report is
– Comprehensive evaluation of all opportunities and risks in the market.
– Analytical Laboratory Instrument market current developments and significant occasions.
– Deep study of business techniques for development of the market-driving players.
– Conclusive study about the improvement plot of market for approaching years.
– Top to bottom approach of market-express drivers, targets and major littler scale markets.
– Favorable impression inside imperative mechanical and publicize latest examples striking the market.