Market Trends of Life Science and Chemical Instrumentation Industry
This section covers the major market trends shaping the Life Science & Chemical Instrumentation Market according to our research experts:
Chromatography Holds the Major Share in Life Science and Chemical Instrumentation Market
Chromatography is an analytical instrument that measures the content of various analytes in a given sample and, in many cases, helps to quantify the analyte. Chromatography is mostly done to analyze compounds that can are in a liquid state, and in the case of gas chromatography (GC), the analytes can be vaporized without decomposition.
It is widely used to test the purity of substances or to separate a mixture into its basic components. The chromatography method is used in many pharmaceutical applications, such as identifying the number of chemicals in drugs. Data from MDPI Journal published in April 2022 stated that the goal of chromatography analysis of any drug is to validate and identify the drug and provide quantitative data, as well as to monitor the course of disease therapy. Chromatography is used to determine the photo components present in various pharmaceutical compounds that are used to treat a variety of diseases, such as cough, asthma, rheumatism, fever, cephalalgia, and ophthalmia. In addition, the increased use of chromatography tests in drug approvals is considered to contribute to the market growth over the forecast period.
Additionally, companies in the market are focusing on launching advanced liquid chromatography systems and components. In June 2021, Waters Corporation launched its new high-performance liquid chromatography (HPLC) - Waters Arc Premier System. The company declared that the new liquid chromatography system could be used for routing testing in various end-use areas, like the pharmaceuticals industry and the academic and materials markets. Moreover, in July 2022, Shimadzu launched its i-Series Plus integrated chromatography system that covers conventional to ultra-fast liquid chromatography analysis. Thus, all the above mentioned factors are likely to drive segment growth over the forecast period.
North America Holds the Largest Market Share and is Expected to Maintain the Same during the Forecast Period
In North America, life science and chemical instrumentation technology are used in many applications in the pharmaceutical and biotechnology industry. Chemical instrumentation has proven to be an effective technology for final production testing, pharmaceutical applications, environmental monitoring, and food testing, among others.
Other factors propelling the growth of the North American life science and chemical instrumentation market include the increasing need for drug discovery, the rising prevalence of chronic diseases, and augmented demand for rising food safety concerns. According to the American Cancer Society's 2022 report, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in 2022. As per a July 2022 update by the CDC, around 6 in 10 Americans live with at least one chronic disease, and 4 in 10 adults have two or more chronic diseases. Hence, the increasing burden of chronic diseases is expected to propel the R&D activities in the industry and may contribute to the growth of the market studied.
Moreover, the increasing number of R&D activities is contributing to market growth. For instance, as per a 2021 update by the University of North Dakota, the UND Center of Biomedical Research Excellence (CoBRE) in Host-Pathogen interactions (HPI) stated that the National Institutes of Health (NIH) will continue to fund the project through Phase II. The renewal of USD 10.7 million is intended to improve understanding of host responses to viral, bacterial, and parasite infections that cause acute and chronic inflammatory diseases. Hence, growing R&D funding for various life sciences-related research is expected to boost market growth over the forecast period.
Furthermore, product launches by the key market players propel the growth of the market. For instance, in October 2021, Novasep announced the launch of the Hipersep Process M, an HPLC chromatography system designed for the purification of pharmaceutical molecules such as peptides, oligonucleotides, insulin, and other synthetic molecules. This system is designed to improve the workflows in clinical labs. Thus, all the above-mentioned factors are expected to boost the market over the forecast period.
