The global Life Science Instrumentation Market is projected to reach USD 73.9 billion by 2028 from USD 54.9 billion in 2023, at a CAGR of 6.1% from 2023 to 2028. The rising use of life science instruments in research & development, advancements in NGS platforms, and the rising prevalence of hospital-acquired infections fuel the market growth.
The life science instrumentation market is moderately competitive, with established companies and upcoming competitors for the same market share. As of 2022, the key player operating in the global life science instrumentation market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), Shimadzu Corporation (Japan), Becton, Dickinson and Company (US), PerkinElmer Inc. (US), Bio-Rad Laboratories, Inc. (US), Bruker (US), and Hitachi High-Technologies Corporation (Japan).
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These competitors have utilized various strategies to increase their market share in the global life science instrumentation market, including acquisitions, agreements, partnerships, and product releases. In 2022, a higher share of the life science instrumentation market was held by Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), Shimadzu Corporation (Japan).
Thermo Fisher Scientific is headquartered in Massachusetts, US. The company provides a range of analytical instruments, reagents & consumables, equipment, and software. The company recently launched a new ICP-MS analyzer for pharmaceutical, food, and environmental sectors. The Thermos Scientific iCAP ROplus ICP-MS Analyzer can be used for varied sample types and effectively trace elements at low concentrations. Geographically, the company operates in more than 50 countries across North America, Europe, APAC, and Latin America. Some of the major subsidiaries of the company include Thermo Informatics Asia Pacific Pty Ltd. (Australia); Thermo Measurement Ltd (UK); Thermo Instruments (Canada), Inc. (Canada); Thermo Ramsey Italia S.r.l. (Italy); Thermo Fisher Scientific (Asheville) LLC (US); Thermo Life Sciences AB (Sweden), among others. The company has adopted inorganic growth strategies such as acquisitions to strengthen its market position.
Danaher is a US-based company that offers novel analytical tools through several subsidiaries. Its product portfolio mainly includes analytical instruments, reagents, consumables, software, and services. Danaher is one of the biggest players in the life science instrumentation sector. It is known for groundbreaking inventions and launches innovative products. Danaher also makes a significant contribution to research and development. The innovations help increased sensitivity and improved results. It is dedicated to addressing the potential challenges faced by its customers. It operates its business in more than 60 countries and serves various industries.
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Agilent Technologies, Inc is headquartered in Delaware, US, and was founded in 1999. It offers innovative products, including instruments, consumables, software, and services. The company serves various industries such as pharmaceutical & biotechnology, chemical & energy, environmental testing labs, and contract manufacturing organizations. Some of its major subsidiaries include Agilent Technologies Australia Pty. Ltd., Agilent Technologies Canada, Inc., Agilent Technologies (Cayco) Ltd. (Cayman Islands), and Agilent Technologies (Shanghai) Company Ltd. (China).
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