Life Sciences & Lab Equipment Market - Forecast(2021 - 2026)

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Life Sciences and Lab Equipment Overview

The Global market for life sciences and lab equipment is forecast to reach $52.3 billion by 2025, growing at a CAGR of 6.2% from 2020 to 2025. The market growth is attributed to the technological advancements in healthcare, research and development, government initiatives and investments in the life sciences and lab equipment market. Moreover broadening in the various application regions, and rising academic-industry alliances boosts the market growth.

Report Coverage
The report: “Life sciences and lab equipment market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the life sciences and lab equipment market. 
By Equipment Type: Cold Storage, Lab Ovens & Furnaces, Liquid Handling, Lab Centrifuges & Shakers, Microbiological Incubators & Environmental Chambers, Water baths, Circulators & Chillers, Analytical & Measuring Instruments, Others
By Technology Type: Spectroscopy, Chromatography, PCR, Immunoassays, Lyophilization, Clinical Chemistry Analyzers, Microscopy, Flow Cytometry, Centrifuges, Electrophoresis, Others 
By Application: Cell Culture & Cell Therapy, Cancer Research, Drug Discovery, Genomics, In,Vitro Fertilization, Bioprocess, Metabolomics, Proteomics, Others
By End Users: Clinical & Diagnostic, Research, Academic & Government Institutions, Pharmaceutical & Biotechnology, Blood Banks, Others
By Geography: North America, South America, Europe, APAC, RoW

Key Takeaways
Growing proteomics market also leverages a positive impact on the market growth of life sciences and lab equipment owing to the deployment of proteomics that involves the study of the structure and roles of proteins used in drug development, evaluation, and disease management.
North America region dominated the global life sciences and lab equipmentmarket in 2019 owing to the presence of advanced technologies, large number of manufacturers and the rising life sciences sector (biotechnology/healthcare) based research in this region.

By Technologytype- Segment Analysis

Spectroscopy technology type segment held the highest market share of life sciences and lab equipmentin 2019. Moreover, it is anticipated to witness the significant market growth during the forecast period 2020-2025.Numerous diagnostic and medicinal uses require the biomedical usage of illumination. Photon time-of-flight spectroscopy can assist such therapeutic methods by providing them with data on tissue reaction optical properties. The key benefit of this technique is a fast and non-destructive approach that involves little to no preparation of samples.Furthermore, the development of chemo metrics (the retrieval of knowledge through data-driven means) has improved its susceptibility to detecting small differences in complex datasets.In January 2020, Shimadzu entered into a partnership with Providence Cancer Institute for advancement of Cancer Immunotherapy research in which mass spectrometry technology is applied to develop tools for personalized cancer immunotherapeutic.A significant aspect of this work is the discovery of clinical signatures that can forecast the efficacy of immunological therapies as immunological therapy has emerged as a successful cancer treatment. Consequently such research activities and investments made by government propels the market growth.
By End User type- Segment Analysis 
Life sciences and lab equipmentis segmented into clinical & diagnostic, research, academic & government institutions, pharmaceutical & biotechnology, blood banks and others on the basis of end users. The market ofpharmaceutical& biotechnology is anticipated to hold the highest market share during the forecast period 2020-2025.The market growth is attributed to the factors such as growing requirement for advanced drugs with an emerging populace, increased occurrence and proliferation of multiple debilitating illnesses.Moreover, increased unmet needs of many chronic and uncommon illnesses all over the region, and increased clamour for pharmaceutical and biopharmaceutical drugs from global markets also adds up to the market growth. In September 2019, Interpace entered into a strategic partnership agreement with Genecast Biotechnology to Partner with Biopharma Solutions in China for developing, promoting, and offering translational studies and clinical trial solutions. Such partnership leverages a positive impact on the market growth of life sciences and lab equipment.

Geography - Segment Analysis

North America held the highest market share of the life sciences and lab equipmentmarket in 2019. The market growth is due to presence of advanced healthcare technologies, drug discovery along with relatable research and development programmes, involvement of several main vendors in this area and others.In June 2017, Panasonic Healthcare Corporation of North America entered into a partnership with ENERGY STAR. The voluntary relationship with the United States ENERGY STAR indicates that Panasonic Healthcare continues to dedicate resources to developing goods. This provides consumers enhance energy efficiency without losing important performance criteria connected with biological cells, vaccinations and other essential life science materials.Moreover, APAC region is anticipated to observe the significant market growth during the forecast period 2020-2025.The market growth is attributable to presence of large number population, growing technological developments, rising government & non-governmental expenditure in this field and others. In February 2020, Shimadzu Scientific Instruments (SSI) launched a new ion chromatograph (IC) with a built-in suppressor for electrodialytics. This recently designed anion suppressor ICDS-40A minimizes band distribution and achieves good sensitivity for quantitative anion determination. Consequently such product launches and partnership enhance the market growth of life sciences and lab equipment.

Drivers – Life sciences and lab equipment market
Concerns related to health issues

Emergence of various chronic diseases tends to drive the market growth of life sciences and lab equipment owing to its requirement in addressing those diseases. In the present scenario COVID- 19 is one such instance which has fastened the research work to get the solution to this pandemic.

Challenges – Life sciences and lab equipment market

High cost of instruments
Implementation of new features and configurations, advancements in technology and revolutionary solutions add to their cost. Drug manufacturing companies need a large amount of laboratory tools, and procurement costs are significantly rising due to high prices. The increasing cost of the instruments therefore has a detrimental effect on the development of analytical laboratory equipment.

Market Landscape

Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the life sciences and lab equipment market. As of 2019, the market for gunshot detection marketis consolidated with the top players including Agilent Technologies, Becton, Dickinson and Company, Bio-Rad Laboratories, Danaher Corporation, F. Hoffmann-La Roche, PerkinElmer, Thermo Fisher Scientific, Waters Corporation, Bruker Corporation, Shimadzu Corporation, and among others.

Acquisitions/Technology Launches/Partnerships

InJanuary 2020, Benchling, the pioneering R&D technology application for life sciences, confirmed the introduction of Benchling for Lab Automation, a revolutionary system built to help life science organizations optimize innovation in laboratory automation. The service provides researchers with a standardized platform for planning, recording and executing up to 10,000 experiments in a single experiment and digitally monitoring each study.
In 2019, Anthos Therapeutics was started up with $250 million by Blackstone Life Sciences and Novartis.The firm focused on developing the next generation of targeted therapies for cardiovascular high risk patients. The lead product of the business is MAA868, an antibody targeting Factor XI and Xia, which is evolving in Phase II.

1. Life Sciences & Lab Equipment Market Overview
2. Executive Summary
3. Life Sciences & Lab Equipment Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis 
3.2.1. Product Benchmarking
3.2.2. End User profiling
3.2.3. Patent Analysis
3.2.4. Top 5 Financials Analysis
4. Life Sciences & Lab Equipment Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Life Sciences & Lab Equipment Market – Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Life Sciences & Lab Equipment Market – By Equipment
6.1. Introduction
6.2. Cold Storage
6.3. Lab Ovens & Furnaces
6.4. Liquid Handling
6.5. Lab Centrifuges & Shakers
6.6. Microbiological Incubators & Environmental Chambers
6.7. Water baths, Circulators & Chillers
6.8. Analytical & Measuring Instruments
6.9. Others
7. Life Sciences & Lab Equipment Market – By Technology
7.1. Introduction
7.2. Spectroscopy
7.3. Chromatography
7.4. PCR
7.5. Immunoassays
7.6. Lyophilization
7.7. Clinical Chemistry Analyzers
7.8. Microscopy
7.9. Flow Cytometry
7.10. Next Generation Sequencing
7.11. Centrifuges
7.12. Electrophoresis
7.13. Cell Counting
7.14. Others 
8. Life Sciences & Lab Equipment Market – By Application
8.1. Introduction
8.2. Cell Culture & Cell Therapy
8.3. Cancer Research
8.4. Drug Discovery
8.5. Genomics
8.6. In Vitro Fertilization
8.7. Bioprocess
8.8. Metabolomics
8.9. Proteomics
8.10. Others
9. Life Sciences & Lab Equipment Market – By End Users
9.1. Introduction
9.2. Clinical & Diagnostic Applications
9.3. Research Applications
9.4. Academic & Government Institutions
9.5. Pharmaceutical & Biotechnology Companies
9.6. Blood Banks
9.7. Others
10. Life Sciences & Lab Equipment Market - By Geography
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Chile
10.3.4. Rest of Americas
10.4. Europe
10.4.1. U.K
10.4.2. Germany
10.4.3.  Italy
10.4.4. France
10.4.5. The Netherlands
10.4.6. Spain
10.4.7. Denmark
10.4.8. Sweden
10.4.9. Rest of Europe
10.5. Asia-Pacific (APAC)
10.5.1. China
10.5.2. Japan
10.5.3. India
10.5.4. South Korea
10.5.5. Australia & New Zealand
10.5.6. Rest of APAC
10.6. Middle East
10.6.1. Saudi Arabia
10.6.2. Israel
10.6.3. Iran
10.6.4. Rest of Middle East
10.7. Africa
10.7.1. South Africa
10.7.2. Egypt
10.7.3. Rest of Africa
11. Market Entropy
11.1. New Product Launches
11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
12.1. Company 1
12.2. Company 2
12.3. Company 3
12.4. Company 4
12.5. Company 5
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10 and more
*More than 10 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies"
13. Appendix
13.1. Abbreviations
13.2. Sources
13.3. Research Methodology
13.4. Bibliography
13.5. Compilation of Expert Insights
13.6. Disclaimer