North America Analytical Instrumentation Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 9.15 Billion |
| Market Size (2029) | USD 12.14 Billion |
| CAGR (2024 - 2029) | 5.81 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Analytical Instrumentation Market Analysis
The North America Analytical Instrumentation Market size is estimated at USD 9.15 billion in 2024, and is expected to reach USD 12.14 billion by 2029, growing at a CAGR of 5.81% during the forecast period (2024-2029).
The rising concerns regarding product quality, increasing investments in R&D, and stringent government regulations are some major factors driving the growth of the North American analytical instrumentation market. The rising customer awareness, especially in emerging regions, and the need for analytical instruments across multiple sectors, are further expected to augment the market's growth over the forecast period.
- In the past few years, the growth in the market studied was primarily driven by factors such as government initiatives for environmental testing and pollution control and especially in developing countries, increasing investments in North America's pharmaceutical R&D, stringent regulations on drug safety, expansion of crude and shale gas production, increasing focus on the quality of food products, and technological advancements in mass spectrometers.
- Further, companies developing batteries for mobile phones, electric vehicles, energy systems, and other systems/devices depend on analytical instruments to enhance testing, storage potential, and output to create more efficient, cleaner, and safer energy sources. Companies use electron microscopy technologies to understand structures that level down at the atomic scale, along with spectroscopy tools to discover critical changes in materials that cause defects and inefficiency.
- However, the high cost of analytical instruments restrains the growth of the studied market. Furthermore, along with the cost of instruments, various other costs are associated, such as staffing, maintenance, and laboratory expenses, thereby restraining the market's growth. Moreover, the advancement in features and functionalities, technological advancements, and innovative systems are adding to the cost of analytical instruments.
- The market vendors are increasingly targeting analytics, mainly to support industries operating in regulated sectors across the world. To target applications in industries such as pharmaceuticals, collaborative work is increasingly witnessing adoption, which is critical for business growth.
- The recent COVID-19 outbreak resulted in significant demand in the market studied. The need for accelerated research has significantly increased during the COVID-19 outbreak, and the public expects unprecedented progress from the scientific community.
North America Analytical Instrumentation Market Trends
This section covers the major market trends shaping the North America Analytical Instrumentation Market according to our research experts:
Life Sciences Segment Expected to Hold Significant Market Share
- Life sciences account for the largest share in the analytical instrument industry, representing a quarter of the entire industry. Life sciences comprise more than 13 individual technology segments, encompassing a wide range of applications using analytical tools such as spectrometry, atomic spectroscopy, and molecular spectroscopy. This provides significant opportunities to grow both general instrument applications and niche research systems.
- Demand for Next Generation Sequencing (NGS) continues to flourish, impacting the sequencing segment and driving strong demand in the nucleic acid sample preparation segment. This growth was evident in the public and private sectors, as genomics technology went beyond basic research to reach the biomedical domain. Such tremendous growth is expected to create a significant demand for analytical instrumentation solutions, as it helps pharmaceutical companies comply with stringent regulations on drug safety.
- Geographically, China has the highest demand for life science instruments, majorly propelled by the country's precision medicine initiative. It is followed by the United States, which is the largest life science market. Owing to the impact of COVID-19 on the economy, the demand for analytical tools is rapidly shifting to the clinical and pharmaceutical segments.
- Also, a significant rise in demand for pharmaceutical biosimilars, phytopharmaceuticals, and regenerative medicine, is expected to aid in the adoption of analytical instrumentation solutions in the industry.
- The companies such as Agilent Technologies are just one of the leading manufacturers of analytical instruments for healthcare and research laboratories in the United States that contributes to this market by offering analytical instruments and supplies to conduct research and experiments and make accurate diagnoses.
- The market is witnessing several strategic developments such as new product developments, mergers, and collaboration that suggest the increase in the adoption of analytical tools in the segment. For instance, in November 2021, Thermo Fisher Scientific launched its new mass spectrometry (MS) instruments, workflows, and software. The Thermo Scientific Orbitrap Exploris MX mass detector allows biopharmaceutical laboratories to implement the multi-attribute method (MAM), perform intact monoclonal antibody analysis, conduct oligonucleotide mass determination, and carry out peptide mapping.
Development of Precision Medicines to Drive the Market Growth
- The emergence of precision medicine to develop personalized medicines and therapies is one of the most important factors driving the laboratory analytical instruments market's growth.
- Increased access to precision medicine requires more widespread participation in clinical trials to accelerate the availability of new targeted therapies. This requires the analytical instrument to perform various functions in clinical trials.
- Owing to such needs in the clinical research domain, the FDA approved various drugs, such as Lynparza and Blincyto, that are tailored to specific characteristics of an individual. Such developments are expected to boost the demand for the analytical instruments market.
- Vendors in the market are focusing on expanding their offerings in the precision medicine industry, primarily through partnerships and collaborations. For instance, in July 2021, Sciex launched the ZenoTOF 7600 System, a mass liquid chromatography-mass spectrometry/mass spectrometry (LC-MS/MS) instrument that includes both Zeno trap and electron activated dissociation (EAD) fragmentation.
North America Analytical Instrumentation Industry Overview
The degree of competition in the North America Analytical Instrumentation Market is anticipated to be moderately high over the forecast period. The major vendors in the market garner more in-depth product portfolios, catering to different customer requirements, whereas smaller vendors operate in niche segments providing customizations and customer-specific orders. Key players include Agilent Technologies Inc., Malvern Panalytical Ltd (Spectris Company), PerkinElmer Inc., Thermo Fisher Scientific, and Shimadzu Corporation.
- November 2021 - Agilent Technologies announced the introduction of the NanoDisSystem for nanoparticle dissolution testing. Combining Agilent instrumentation and software to enable customers to meet 21 CFR Part 11 and other regulations through its application, the new NanoDisSystem delivers a dedicated workflow that is automatable and auditable.
- October 2021 - Bruker Corporation announced the launch of its large sample Dimension IconIRnanoscale infrared spectroscopy and chemical imaging systems. The platform combines Dimension Icon AFM and nanoIR photothermal AFM-IR technology to establish new chemical and material property mapping standards with sub-10nm chemical imaging resolution.
North America Analytical Instrumentation Market Leaders
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Agilent Technologies, Inc
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PerkinElmer Inc.
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Shimadzu Corporation
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Thermo Fisher Scientific Inc.
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Malvern Panalytical Ltd (Spectris company)
*Disclaimer: Major Players sorted in no particular order
North America Analytical Instrumentation Market News
- January 2022 - Bruker Corporation announced the acquisition of Prolab Instruments GmbH, a Swiss technology company specializing in low-flow, high-precision liquid chromatography technology and systems.
- November 2021 - Shimadzu Corporation collaborated with NCVC to establish one of the world's first techniques for detecting a genetic risk factor for cerebrovascular disease unique to East Asia. The company's techno-research commenced the contract analysis service for medical institutions for only research purposes as joint research with NCVC.
North America Analytical Instrumentation Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Industry Value Chain Analysis
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4.3 Industry Attractiveness - Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of New Entrants
- 4.3.4 Intensity of Competitive Rivalry
- 4.3.5 Threat of Substitutes
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4.4 Market Drivers
- 4.4.1 Development of Precision Medicines
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4.5 Market Restraints
- 4.5.1 High Initial Cost
- 4.6 Assessment of the Impact of COVID-19 on the Industry
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Chromatography
- 5.1.2 Molecular Analysis Spectroscopy
- 5.1.3 Elemental Analysis Spectroscopy
- 5.1.4 Mass Spectroscopy
- 5.1.5 Analytical Microscopes
- 5.1.6 Other Product Types
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5.2 By End-user Industry
- 5.2.1 Life Sciences
- 5.2.2 Chemical and Petrochemical
- 5.2.3 Material Sciences
- 5.2.4 Food Testing
- 5.2.5 Oil and Gas
- 5.2.6 Research and Academia
- 5.2.7 Other End-Users
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Agilent Technologies Inc.
- 6.1.2 Bruker Corporation
- 6.1.3 Perkinelmer Inc.
- 6.1.4 Thermo Fisher Scientific Inc.
- 6.1.5 Shimadzu Corporation
- 6.1.6 Malvern Panalytical Ltd (Spectris Plc)
- 6.1.7 Mettler Toledo International
- 6.1.8 Waters Corporation
- 6.1.9 Bio-Rad Laboratories Inc.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS AND FUTURE OUTLOOK
- 7.1 Investment Analysis
- 7.2 Future Outlook
North America Analytical Instrumentation Industry Segmentation
Analytical instrumentation is the study of the identification, separation, and quantification of components of both artificial and natural products using different analytical instruments that include chromatography, analytical microscopes, and mass spectroscopy, among others.
North America Analytical Instrumentation Market is Segmented by Product Type (Chromatography, Molecular Analysis Spectroscopy, Elemental Analysis Spectroscopy, Mass Spectroscopy, Analytical Microscopes), End-user Industry (Life Sciences, Chemical and Petrochemical, Material Sciences, Food Testing, Oil And Gas, Research and Academia).
| By Product Type | Chromatography |
| Molecular Analysis Spectroscopy | |
| Elemental Analysis Spectroscopy | |
| Mass Spectroscopy | |
| Analytical Microscopes | |
| Other Product Types | |
| By End-user Industry | Life Sciences |
| Chemical and Petrochemical | |
| Material Sciences | |
| Food Testing | |
| Oil and Gas | |
| Research and Academia | |
| Other End-Users |
North America Analytical Instrumentation Market Research FAQs
How big is the North America Analytical Instrumentation Market?
The North America Analytical Instrumentation Market size is expected to reach USD 9.15 billion in 2024 and grow at a CAGR of 5.81% to reach USD 12.14 billion by 2029.
What is the current North America Analytical Instrumentation Market size?
In 2024, the North America Analytical Instrumentation Market size is expected to reach USD 9.15 billion.
Who are the key players in North America Analytical Instrumentation Market?
Agilent Technologies, Inc, PerkinElmer Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc. and Malvern Panalytical Ltd (Spectris company) are the major companies operating in the North America Analytical Instrumentation Market.
What years does this North America Analytical Instrumentation Market cover, and what was the market size in 2023?
In 2023, the North America Analytical Instrumentation Market size was estimated at USD 8.65 billion. The report covers the North America Analytical Instrumentation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Analytical Instrumentation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Analytical Instrumentation Industry Report
Statistics for the 2024 North America Analytical Instrumentation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Analytical Instrumentation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
