LIFE SCIENCE INSTRUMENTATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America has long dominated the global life science instrumentation market and is estimated to hold the largest share of 39.2 % in 2024. This can be attributed to the region's heavy investments in biomedical research and presence of top pharmaceutical and biotech companies. The U.S. alone accounts for over 50% of the research spending globally and has the highest healthcare expenditure. Most of the major life science instrumentation OEMs like Thermo Fisher Scientific, Danaher Corporation, Agilent Technologies, and Waters Corporation are headquartered in the U.S., giving the region an industry presence edge. North American life science instrumentation also benefits from the localized manufacturing and supply chains of these companies.

The Asia Pacific region has emerged as the fastest growing market for life science instrumentation in recent years. Countries like China, Japan, South Korea, India and others are increasingly investing in healthcare and biomedical infrastructure. This has created a surge in demand for advanced life science research tools and analytical equipment within the region. China remains the major growth driver within Asia Pacific as its pharmaceutical industry expands to fulfill the large healthcare needs of its population. As Chinese pharmaceutical companies develop capabilities in drug discovery and manufacturing, they are procuring more laboratory instruments and automation solutions. Asia Pacific life science instruments also see increased adoption in tandem with rising contract research and manufacturing activities centered in India, Singapore and other Southeast Asian nations. Furthermore, exports of life science instruments from North America and Europe into this region have risen significantly.