Biotechnology Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The biotechnology instruments market is segmented by Product (Lab Automation Instruments, Life Science Consumables, and IVD Instruments), by End User (Government and Academic Institutes, Pharmaceutical and Biotechnology Companies, and Hospitals and Healthcare Facilities), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Biotechnology Instruments Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 12.8 %
Biotechnology Instruments Market Key players

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Market Overview

The biotechnology instruments market is expected to register a CAGR of 12.80% over the forecast period, 2022-2027.

The COVID-19 pandemic has had a positive impact on the biotechnology instruments market throughout the pandemic phase. The outbreak of COVID-19 has boosted research work on several infectious diseases along with COVID-19. In addition, numerous major players accelerated research and development activities, focusing more on new launches and product approval procedures, which consequently impacted the market's growth. For instance, in June 2020, Invetech, a full-service provider engaged in the design, development, and manufacturing of clinical diagnostic instruments, point-of-care devices, and configured systems, announced that its Boxborough, Massachusetts facility has received FDA approval as a contract manufacturer of IVD and life science instruments. In addition, several key and small players also underwent public and private collaboration to increase their research activities and combat the growing demand for new products. For instance, in May 2020, the Promega team undertook a public-private initiative with government agencies to scale up the COVID-19 testing capacity by utilizing Promega Maxwell Instruments in India. Hence, such an increase in the research-related activities, bolstered the demand for biotechnology instruments, as they are one of the essential requirements in R&D, thereby boosting the market growth over the pandemic phase.

In addition, the rising demand for point-of-care testing across the globe is one of the key factors propelling the market's growth. To combat the rising demand, several prominent players are taking initiatives in this market space. For instance, in March 2020, Abbott launched a molecular point-of-care test for the detection of COVID-19 in less than five minutes. The test will be carried out on the company's ID NOW platform, offering rapid results in various healthcare settings such as urgent care clinics, hospital emergency departments, and physicians' offices. Similarly, in June 2022, Agilent Technologies Inc. announced that CE-IVD marked instruments, kits, and reagents were released as IVDR Class A, in compliance with the new EU IVDR regulation. With the introduction of IVDR-compliant Class A products, labs in the European Union can continue to utilize Agilent IVDR instruments, kits, and reagents in their diagnostic processes without interruption. Therefore, such factors are expected to increase the demand for IVD instruments as they are one of the essential requirements for developing such solutions.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, stringent regulatory policies for product approvals are likely to impede the market's growth over the coming years.

Scope of the Report

As per the scope of the report, biotechnology instruments are used to isolate and identify the biological molecules. The advancement in miniaturization and developing lightweight materials for constructing biotechnology instruments are providing new dimensions in designing these instruments. The biotechnology instruments market is segmented by Product (Lab Automation Instruments, Life Science Consumables, and IVD Instruments), by End User (Government and Academic Institutes, Pharmaceutical and Biotechnology Companies, and Hospitals and Healthcare Facilities), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Product
Lab Automation Instruments
Life Science Consumables
IVD Instruments
By End User
Government and Academic Institutes
Pharmaceutical and Biotechnology Companies
Hospitals and Healthcare Facilities
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Life Science Consumables Segment is Expected to Witness Growth Over the Forecast Period

Life science consumables generally refer to pipettes, syringes, falcon tubes, funnels, beakers, testing kits, pipette tips, filter paper, cuvettes, and plates. Recently, the adoption of glass consumables is increasing over plastic consumables due to several advantages, such as the fact that glass consumables can be cleaned and decontaminated and can be reused, whereas plastic consumables cannot be reused.

The outbreak of COVID-19 has considerably increased the demand for life science consumables as the demand for testing kits has increased to a great extent. Among all, the demand for PCR kits has drastically increased during the pandemic as RT-PCR kits emerged as one of the essential requirements in every household. For instance, in January 2022, more than 5 lakh self-testing RT-PCR self-testing kits were sold in Mumbai within one week during COVID-19. Life science consumables are one of the essential requirements for the PCR kits as it involves several steps such as sample storage, quantification, and several other consumables for sample collection. Furthermore, in order to cope with the rising demand for PCR kits, many companies are also launching advanced life science consumables. For instance, in February 2022, Integra Biosciences launched the D-ONE single-channel pipetting module that offers hands-free transfers from individual tubes or wells using the ASSIST PLUS pipetting robot. Such innovations are anticipated to boost the segment's growth over the forecast period.

Therefore, the life science consumables segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

Biotechnology Instruments Market Share

North America is Expected to Dominate the Biotechnology Instruments Market

North America is expected to dominate the market owing to factors such as the increasing number of research-related activities and the rising prevalence of target diseases in the region. Due to such factors, the key companies in this region are launching new product lines to accelerate the research work. For instance, in March 2020, Agilent Technologies Inc. launched the Agilent K6460S Clinical Edition TQ LC/MS system, which is designed to improve in vitro diagnostic workflows in clinical labs. This product is listed as a Class I medical device by the U.S. Food and Drug Administration. The system includes a preconfigured liquid chromatograph and mass spectrometer, as well as the clinical edition of Agilent MassHunter software, which allows an easy-to-use and intuitive submission-to-reporting workflow. Since biotechnology instruments play a vital role in the R&D of several disease diagnostics and research, the increased number of research and development activities in the region is expected to surge the market growth over the analysis period.

Moreover, key product launches, high concentration of market players or manufacturer's presence, acquisitions and partnerships among major players, and product launches by key players in the United States are some of the other factors driving the growth of the biotechnology instruments market in the United States. For instance, in November 2021, Thermo Fisher Scientific launched a new IVD system called the Applied Biosystems QuantStudio 7 Pro Dx Real-Time PCR. This system is designed to support IVD testing and the development of assay menus. Such continuous product launches are anticipated to drive the growth of the market in the country.

Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.

Biotechnology Instruments Market Growth rate

Competitive Landscape

The biotechnology instruments market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known, including Illumina, Inc., Hudson Robotics, Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Azenta US, Inc., Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, and among others.

Recent Developments

In March 2022, Thermo Fisher Scientific launched a CE-IVD marked next-generation sequencing instrument for use in clinical laboratories. The system allows users to perform both testing and clinical research and diagnosis on a single instrument.

In June 2022, Agilent Technologies Inc. announced that previously launched CE-IVD marked instruments, kits, and reagents were released as IVDR Class A on May 26, 2022, in compliance with the new EU IVDR regulation. This launch of IVDR-compliant Class A products ensures that laboratories in the European Union relying on Agilent IVDR instruments, reagents, and kits to fulfill their diagnostic purposes will continue to use these products without any disruption.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defination

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Demand for Point-of-care (POC) Tests

      2. 4.2.2 Growing Geriatric Population and Rising Prevalence of Target Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Policies for Product Approvals

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Lab Automation Instruments

      2. 5.1.2 Life Science Consumables

      3. 5.1.3 IVD Instruments

    2. 5.2 By End User

      1. 5.2.1 Government and Academic Institutes

      2. 5.2.2 Pharmaceutical and Biotechnology Companies

      3. 5.2.3 Hospitals and Healthcare Facilities

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Illumina, Inc.

      2. 6.1.2 Hudson Robotics

      3. 6.1.3 Thermo Fisher Scientific

      4. 6.1.4 Bio-Rad Laboratories, Inc.

      5. 6.1.5 Agilent Technologies, Inc.

      6. 6.1.6 Azenta US, Inc.

      7. 6.1.7 Siemens Healthcare GmbH

      8. 6.1.8 F. Hoffmann-La Roche Ltd

      9. 6.1.9 Quest Diagnostics

      10. 6.1.10 QIAGEN

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Biotechnology Instruments Market market is studied from 2019 - 2027.

The Global Biotechnology Instruments Market is growing at a CAGR of 12.8% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc., Azenta US, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific are the major companies operating in Global Biotechnology Instruments Market.

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