Life Science Instrumentation Market 2019-2027: Global Industry Growth Size Analysis (6.5% CAGR)

SAN JOSE, Calif. - Sept. 13, 2019 - PRLog -- The recent market report issued by Credence Research, Inc. was valued at US$ 57,185.5 million in 2018 and is anticipated to achieve US$ 100,792.7 million by 2027, increasing to CAGR by 6.5 percent from 2019 to 2027.

According to statistics provided by the United Nations Population Division (UNPD), the global death rate in 2017 was 7.6 per 1,000 people, which is dramatically low compared to 17.7 per 1,000 people in 1960. Technological advancements in life science instrumentation techniques have been responsible for the manufacturing of an extremely safe and effective drug molecule for the treatment of chronic diseases and are using technology to provide a promising drug pipeline shortly.

The technology segment for life science instrumentation is presently dominated by spectroscopy technology. It is a very ancient and reliable method used by healthcare experts to monitor and validate the quality of drugs. Its intrinsic characteristics, such as ease of sample preparing for quantitative and qualitative drug evaluation and ease of handling, are responsible for growing demand across life science sectors. Due to its wide application in the development of personalized medicine and the ability to create biological sequences for complex molecules at low cost and speed, next-generation sequencing is gaining enormous traction.

Full Report on Life Science Instrumentation Market: https://www.credenceresearch.com/report/life-science-instrumentation-market

For the life science instrumentation market, pharmaceutical, and biotechnology companies are the biggest market holder in the end-user segment. The burgeoning requirement for novel drugs to treat chronic ailments and a substantial increase in initial throughput screening connected with the inquiry of new drug phase (IND) raises the demand for life science instrumentation technology in pharmaceutical and biotechnology businesses. Diagnostic laboratories are eager to record remarkable development in the near future due to increased awareness of public health leading to early diagnosis of disease.

Infectious and chronic disease diagnosis is one of Life Science instrumentation's leading applications. The emergence and outbreak of multiple infectious diseases have produced difficulties for researchers and new possibilities to create diagnostic devices and tests for early diagnosis and disease prevention. According to the WHO World Health Report, infectious diseases account for around 17 million fatalities worldwide every year.