Life Sciences and Analytical Instruments Market to Exceed USD 48.4 Bn by 2021

LONDON - Oct. 31, 2016 - PRLog -- This year, the value of the life sciences and analytical instruments is estimated at approximately USD 34.8 billion. The figure is likely to go beyond USD 48.4 billion by the year 2021, registering robust growth in the next 5 years.

The life sciences and analytical instruments market has enjoyed sustainable growth during the past several years, driven majorly by increasing expenditures on life science R&D, rising government spending on pharmaceutical R&D especially in emerging nations, remarkable progress in the drug discovery and also clinical diagnostics, ongoing technological advancements, rapidly aging global population, expanding prevalence of chronic disease and changing demographics, amid other factors.

The previous 5-6 years have seen a wide range of partnerships, mergers, acquisitions, product launches and other business activities and have been predominantly eventful for instrument companies. Numerous industry players reported record sales.

Another important market driver of the life sciences and analytical instruments market is the robust growth in the emerging country-wide markets like India, Brazil and China.

Further impetus to the life sciences and analytical instruments market growth is given by the rising number of biotech firms across the globe, tremendous advances in life sciences, remarkable technology innovations, introduction of human genome mapping, emergence of proteomics, etc.

However, some factors, for example, high costs of instruments and presence of alternative technologies could hamper the life sciences and analytical instruments market growth in the years to come.

The spectroscopy sector commands the biggest share of the world life sciences and analytical instruments market. It is followed by the separation techniques sector.

North America and Europe are in the forefront of the worldwide life sciences and analytical instruments market. Meantime, the emerging markets in the APAC and Latin American regions presents lucrative growth opportunities.

New report from Meticulous Research titled "Global Life Sciences and Analytical Instrumentation Market Outlook: 2016-2021"gives a comprehensive understanding of the world's life sciences and analytical instruments market landscape.

This news insightful report is available at https://marketpublishers.com/report/medical_devices/other_medical_devices/global-life-sciences-n-analytical-instrumentation-market-outlook-2016-2021.html