One of the most promising approaches in the healthcare sector is precision medicine, often known as personalised medicine. It makes use of population health, genetics, and Big Data analytics, among other things. The shift to precision medicine typically involves a tailored strategy, where the choice is made based on each person's particular medical, molecular, and lifestyle information. Additionally, analytical chemistry is essential to understanding human biology as a whole. For instance, genetics and genomics are transferred to a DNA analyzer, a sensitive, repeatable, and reliable analytical tool. One of the most important factors driving the growth of the laboratory analytical equipment market is the rise of precision medicine to expand personalised medications and treatments. Advanced analytical equipment appear to be a vital step with economic whims plaguing many life science firms internationally; process simplification can be accomplished with less error and better precision. It is most necessary in areas with repeated work since it will increase financial returns while reducing the requirement for expert labour.
According to Coherent Market Insights, The market for Analytical Instruments was valued at USD 43.2 billion in 2021, and from 2022 to 2030, it is projected to increase at a compound annual growth rate (CAGR) of 8.4%.
The following is a list of some of the businesses that Coherent Market Insights has highlighted:
1. Agilent Technologies Inc.
The company was founded in 1999 and has its main office in California, United States. The business offers vital bio-analytical and electronic measuring solutions to the chemical analysis, communications, electronics, and life sciences sectors. The business provides semiconductor and board testing, as well as electronic and bioanalytical measurement. Agilent Technologies Inc. claimed in December 2021 that the Agilent Cary 3500 UV- Vis Spectrophotometer was an excellent match for the Agilent OpenLab software product line.
2. Bruker Corporation
The business was started in 1960 and is located in Massachusetts, U.S. The business creates, produces, and sells exclusive life science systems based on spectrometry technology platforms. Additionally, the business offers a variety of field analytical systems for pathogen and drug detection. It was revealed in November 2022 that Mountain View-based Inscopix, Inc., a manufacturer of miniature microscopes and miniscopes, had been purchased by Bruker.
3. PerkinElmer Inc.
The business was founded in 1937 and is located in Waltham, Massachusetts, U.S. The business provides pharmaceutical and biotech firms with multi-omics technologies, biomarker discovery, imaging, prediction, screening, detection, and diagnosis, as well as informatics. PerkinElmer declared in November 2020 that it will buy Horizon Discovery Group for about US$383 million. PerkinElmer revealed in March 2021 that it had successfully acquired Oxford Immunotec Global PLC (Oxford Immunotec).
4. Thermo Fisher Scientific
The firm was established in 1956 and has its headquarters in Massachusetts, United States. The business produces chemicals, consumables, and scientific equipment. Thermo Fisher Scientific said in January 2021 that it had purchased Henogen SA, a producer of viral vectors based in Belgium, from Groupe Novasep SAS for €725 million in cash. The company and The Binding Site Group, a British diagnostics company, reached a purchase agreement in October 2022.
5. Shimadzu Corporation
The business was started in 1875 and is based in Kyoto, Japan. The business creates, produces, and markets medical systems, industrial machinery, aeroplanes, and analytical and measurement tools. Shimadzu conducts product development, research, and marketing through its affiliated businesses.
6. Mettler Toledo International
The company was founded in 1945 and is located in Switzerland. The business produces and sells weighing equipment for use in lab, industrial, and retail food applications. The company also offers a number of complementary measurement and analytical technologies. An international maker of scales and analytical instruments is Mettler Toledo.
7. Bio-Rad Laboratories Inc.
The business was started in 1952 and is based in California, United States. An American company called Bio-Rad Laboratories, Inc. creates and manufactures specialised technology goods for the markets of clinical diagnostics and life science research. A cooperation between Bio-Rad and Roche was declared in March 2021.
Definition: The broad category of devices known as analytical instruments is used in pharmaceutical, chemical, clinical, and food processing laboratories for analytical purposes. These tools help introduce the makeup and examine the components.
