The life science instrumentation market in North America is estimated to grow to USD 20.76 billion by 2027 from USD 17.43 billion in 2022, rising at a CAGR of 3.55% from 2022 to 2027.
Life science, often known as biological sciences, comprises the areas of science concerned with the scientific study of life and organisms such as plants, microbes, and animals, including humans. It is one of natural science's two primary branches. Furthermore, life sciences concentrate on features shared by all or many life forms, such as anatomy and genetics.
Increasing support from the government and non-government organizations in improving the healthcare infrastructure and R&D activities is estimated to favor the life science instrumentation market in North America. Furthermore, the increasing prevalence of genetics and high incidence of targeted diseases are expected to favor the life science instrumentation market to grow further in the North American region during the forecast period. Other factors such as rising food safety concerns, high investments, and the availability of advanced healthcare infrastructure are further boosting the market's growth rate. In addition, the technological advancements in the healthcare sector, the increasing demand for effective technologies in the research centers, and the new product launches are also accelerating the market growth.
Furthermore, emerging markets such as the United States and Canada have witnessed a spike in demand for analytical instruments, which is likely to expand the market growth due to the growing demand for the instrumentation due to chronic disorders' burden in both countries. The increasing applications of life science instruments in various sectors such as the cosmetic industry, food and beverages industry, and drug testing contribute to the North American life science instrumentation market. Many pharmaceutical manufacturers are constantly developing new pharmaceuticals to treat various diseases. As a result, they focus on swift and efficient drug development efforts. Moreover, the growth in mergers and acquisitions would assist market participants in establishing their presence globally to gain attention to the market and, as a result, help the market accelerate over the forecast period.
However, the high cost of instruments and limited availability of healthcare professionals in some parts of the region are predicted to hamper the growth of the North American life science instrumentation market.
This research report on the North American life science instrumentation market has been segmented and sub-segmented into the following categories.
By Technology:
By Application:
By End-user:
By Country:
Geographically, North America was the leader in the global Life science instrumentation market in 2021, and the market is anticipated to register a predominant share during the forecast period. The regional market growth is driven owing to the presence of advanced healthcare infrastructure, high healthcare expenditure, and many pharmaceutical and biotechnology companies. In addition, the increased use of chromatography tests in drug approvals and favorable reimbursement policies are fuelling the market growth.
The U.S. led the North American market in 2021, and it is likely to continue its dominance throughout the forecast period. Factors such as the high prevalence rate of chronic diseases, technological advancements in the healthcare sector, and growing healthcare expenditure propelling the market growth in the United States.
Furthermore, the Canadian market is projected to witness a substantial share in the North American market during the forecast period due to the supportive government policies, evolving healthcare infrastructure, and increased research and development activities.
KEY MARKET PLAYERS:
Companies playing a significant role in the North American life science instrumentation market profiled in this report are Danaher, Thermo Fisher Scientific, Inc., Merck KGaA, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Illumina, Inc., PerkinElmer, Inc., BD, Bruker, and Hitachi High-Technologies Corporation.
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