Biotechnology Instruments Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 85.29 Billion |
| Market Size (2029) | USD 106.57 Billion |
| CAGR (2024 - 2029) | 4.55 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Biotechnology Instruments Market Analysis
The Biotechnology Instruments Market size is estimated at USD 85.29 billion in 2024, and is expected to reach USD 106.57 billion by 2029, growing at a CAGR of 4.55% during the forecast period (2024-2029).
The COVID-19 pandemic had a positive impact on the biotechnology instruments market throughout the pandemic phase. The outbreak of COVID-19 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. Among all, the demand for PCR kits drastically increased during the pandemic. For instance, in May 2022, Cipla launched its real-time COVID-19 RT-PCR test kit in India. The ‘RT-Direct’ multiplex COVID-19 RT PCR test kit was released in partnership with Genes2Me Pvt Ltd. 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 research-related activities bolstered the demand for biotechnology instruments. In the post-pandemic period, the market studied is expected to register growth in the coming years due to the rapid technological advancements in biotechnology devices coupled with an increase in research activities.
Factors such as the rising demand for point-of-care testing, the growing geriatric population, and the high prevalence of target diseases across the globe are expected to propel the market's growth. For instance, as per the International Diabetes Federation, approximately 537 million adults (20-79 years) were living with diabetes in 2021. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Hence, the rise in diabetes cases is expected to increase chronic disease complications, thereby driving the market growth over the forecast period.
Moreover, to combat the rising demand for various biotechnology instruments, several prominent players are taking initiatives in this market space. For instance, in June 2022, Agilent Technologies Inc. publicized 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. Similarly, in January 2023, Mumbai-based pharma firm Cipla launched Cippoint, a point-of-care testing device. This state-of-the-art device offers a wide range of testing parameters, including cardiac markers, diabetes, infectious diseases, fertility, thyroid function, inflammation, metabolic markers, and coagulation markers. The device is CE IVD approved, indicating the device is approved by the European In-Vitro Diagnostic Device Directive, thus ensuring reliable testing solutions.
Therefore, owing to the increase in chronic diseases and the rise in product launches, 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.
Biotechnology Instruments Market Trends
IVD Instruments Segment is Expected to Witness Growth Over the Forecast Period
An in vitro diagnostic (IVD) medical instrument analyzes human samples to use the results to help with clinical diagnosis or management. A test kit, reagent, software, system, or instrument, like a qPCR cycler, could all be considered IVD devices. The IVD instrument segment is expected to witness significant growth owing to factors such as an increase in the prevalence of various chronic and infectious diseases and a rise in product launches. For instance, according to the American Cancer Society 2023 Cancer Statistics, the estimated new number of cancer cases is likely to be 1.9 million in the United States in 2023. This estimation includes 1 million males and 948,000 females. The high burden of cancer is augmenting the demand for diagnostic testing and thereby boosting segment growth over the forecast period.
Furthermore, an increase in strategic initiatives by the key players, such as mergers, acquisitions, and product launches, is expected to fuel the market growth over the forecast period. For instance, in November 2022, Linear Chemicals presented its range of in vitro diagnostic (IVD) products, including instruments and reagents covering clinical chemistry, serology, urinalysis, hematology, and immunology, at the MEDICA 2022 Trade Fair being held in Düsseldorf, Germany. Similarly, approvals by the Government authorities for the IVD devices are expected to provide opportunities for segment growth. For instance, in April 2022, GenDx received a medical device license from Health Canada for in vitro diagnostic use of NSGgo-MX11-3. NGSgo-MX11-3 provides multiplexed genotyping of 11 HLA loci with incredible speed and high accuracy, contributing to the success of stem cell transplantation. In addition, NGSgo-MX11-3 offers the highest available gene coverage of any HLA multiplex strategy on the market.
Hence, owing to the increase in chronic diseases, the rise in product launches, and the approvals of key players, the studied segment is expected to witness significant growth over the forecast period.
North America Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share in the studied market owing to factors such as the increasing number of biotechnology research-related activities and the rising prevalence of chronic diseases in the region. For instance, as per the Canadian Cancer Statistics 2022 Special Report, 233,900 people were diagnosed with cancer in 2022. Also, 1 in 24 people in Canada was diagnosed with cancer within the previous 25 years. Breast, prostate, and colorectal cancers are the most prevalent cancers. Thus, an increase in chronic diseases like cancer in the North American region is expected to utilize biotechnology instruments for the development of various point-of-care products, thereby driving market growth.
Additionally, the presence of key market players and their strategic activities in this region is expected to accelerate market growth. For instance, 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. 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.
Therefore, owing to the rise in chronic diseases, the presence of key players, and the rise in strategic activities, the studied market is expected to witness significant growth in the North American region.
Biotechnology Instruments Industry Overview
The biotechnology instruments market is fragmented in nature due to the presence of several companies operating globally as well as regionally. Some of the key players currently dominating the market are Illumina, Inc., Hudson Robotics, Thermo Fisher Scientific, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Azenta US, Inc., Siemens Healthineers, F. Hoffmann-La Roche Ltd, among others.
Biotechnology Instruments Market Leaders
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Bio-Rad Laboratories, Inc.
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Azenta US, Inc.
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Agilent Technologies, Inc.
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Thermo Fisher Scientific
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Siemens Healthineers
*Disclaimer: Major Players sorted in no particular order
Biotechnology Instruments Market News
- January 2023: Becton, Dickinson, and Company introduced a new, robotic track system for the BD Kiestra microbiology laboratory solution that automates lab specimen processing, which may help to reduce manual labor and wait time for results.
- January 2023: Qiagen launched the EZ2 Connect MDx IVD platform for automated sampling in diagnostic laboratories. The company is offering the platform for widescale use 18 months after it was made available for research. With the help of the highly automated EZ2 Connect MDx equipment, laboratories can simultaneously purify DNA and RNA from up to 24 samples in 30 minutes.
Biotechnology Instruments Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Defination
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Demand for Point-of-care Tests
- 4.2.2 Growing Geriatric Population and Rising Prevalence of Target Diseases
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Policies for Product Approvals
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 Lab Automation Instruments
- 5.1.2 Life Science Consumables
- 5.1.3 IVD Instruments
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5.2 By End-User
- 5.2.1 Government and Academic Institutes
- 5.2.2 Pharmaceutical and Biotechnology Companies
- 5.2.3 Hospitals and Healthcare Facilities
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Illumina, Inc.
- 6.1.2 Hudson Robotics
- 6.1.3 Thermo Fisher Scientific
- 6.1.4 Bio-Rad Laboratories, Inc.
- 6.1.5 Agilent Technologies, Inc.
- 6.1.6 Azenta US, Inc.
- 6.1.7 Siemens Healthineers
- 6.1.8 F. Hoffmann-La Roche Ltd
- 6.1.9 Quest Diagnostics
- 6.1.10 QIAGEN
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityBiotechnology Instruments Industry Segmentation
As per the scope of the report, biotechnology instruments are used to isolate and identify biological molecules. The advancement in miniaturization and the development of lightweight materials for constructing biotechnology instruments are providing new dimensions in designing these instruments. The biotechnology instruments market is segmented by product, end-user, and geography. By product, the market is segmented into lab automation instruments, life science consumables, and IVD instruments. By end user, the market is segmented into government and academic institutes, pharmaceutical and biotechnology companies, and hospitals and healthcare facilities. 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) 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 | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Biotechnology Instruments Market Research FAQs
How big is the Biotechnology Instruments Market?
The Biotechnology Instruments Market size is expected to reach USD 85.29 billion in 2024 and grow at a CAGR of 4.55% to reach USD 106.57 billion by 2029.
What is the current Biotechnology Instruments Market size?
In 2024, the Biotechnology Instruments Market size is expected to reach USD 85.29 billion.
Who are the key players in Biotechnology Instruments Market?
Bio-Rad Laboratories, Inc., Azenta US, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific and Siemens Healthineers are the major companies operating in the Biotechnology Instruments Market.
Which is the fastest growing region in Biotechnology Instruments Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Biotechnology Instruments Market?
In 2024, the North America accounts for the largest market share in Biotechnology Instruments Market.
What years does this Biotechnology Instruments Market cover, and what was the market size in 2023?
In 2023, the Biotechnology Instruments Market size was estimated at USD 81.41 billion. The report covers the Biotechnology Instruments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Biotechnology Instruments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Biotechnology Instruments Industry Report
Statistics for the 2024 Global Biotechnology Instruments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Biotechnology Instruments analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
