LIQUID SCINTILLATION ANALYZER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Challenges And Opportunities

However, the high costs of these analyzers may negatively impact sales to some degree. The price tags tend to limit purchases, especially among small and mid-sized labs. Nevertheless, growing Research & Development expenditure and a surge in clinical trials should help offset this effect. The rising focus on food and environmental testing worldwide also creates opportunities.

Global Liquid Scintillation Analyzer Market Opportunities

• Growing Proteomics Research: The proteomics market has witnessed exponential growth in recent years, driven by investments from pharmaceutical companies, a rising focus on personalized medicine, and advances in proteomics technologies. Liquid scintillation analyzers are gaining traction for proteomics applications involving the characterization and quantification of radiolabeled proteins. For instance, In June 2022, Protai, an Israeli startup supporting drug discovery with proteomics and artificial intelligence, announced that it had raised US$8 million in seed funding. The fund will be used to continue the development of its technology platform, advance its drug discovery programs, and form partnerships with pharmaceutical companies.
• Growth in biotechnology and life science industry: The biotechnology and life science industries have shown tremendous growth in recent years and are expected to grow further in coming years. With advancements in research and development, biotechnology has opened doors to new discoveries that are helping humanity. The study of life processes at molecular level through biotechnology is being applied across various domains of healthcare. This growth in biotechnology signifies great opportunities for related instrumentation markets as well. Liquid scintillation analyzers play a crucial role in biotechnology and life science research by allowing the detection and quantification of radioactive markers and molecules. These markers are extensively used in studies involving cell and tissue analysis, drug development, detection of toxins and contamination, dosing experiments, and more. As biotechnology grows in scope and application, the need for precision and high volume analysis of radioactive samples is also witnessing a rise. This demand is well complemented by advanced liquid scintillation analyzers, which offer high sensitivity, throughput, accuracy, and reproducibility of results.
• Emerging Markets Offer Significant Growth Potential: Developing and emerging economies such as China, India, Brazil and others are poised to present lucrative growth opportunities for liquid scintillation analyzer companies. These countries are witnessing increasing investments in healthcare, food testing, environmental analysis and other end-use domains that utilize liquid scintillation analyzers. Local governments are also providing support for advancing lab testing capabilities and compliance with quality standards. Key players in the liquid scintillation analyzers market can target these high-potential countries to expand their geographical presence and revenue growth.

Global Liquid Scintillation Analyzer Market Drivers:

• Growing Investments in Pharmaceutical R&D: The growth in investments in pharmaceutical research and development (R&D) is a major factor driving the liquid scintillation analyzer market. With the increasing complexity of drug discovery and the need for targeted therapies, pharma companies are channeling more funds into R&D to develop innovative medicines and treatments. Liquid scintillation analyzers play a vital role in radioisotope-based assays for drug discovery; hence, the growth in R&D spending is fueling the demand for these analytical systems. For instance, according to data published by Pharmaceutical Research and Manufacturers of America (PhRMA), which represents the nation's leading biopharmaceutical research companies., Since 2000, PhRMA member companies have invested more than US$1.1 trillion in the search for new treatments and cures, including US$ 102.3 million in 2021 alone. The entire U.S. biopharmaceutical industry invested an estimated US$122 million in R&D in 2020.
• Rising Demand from Pharmaceutical and Biotechnology Industry: The global liquid scintillation analyzer market is expected to witness significant growth over the coming years, driven primarily by increasing demand from the pharmaceutical and biotechnology industries. Reliability, high sensitivity, and accuracy of liquid scintillation analyzer make it a preferred technology for the analysis of radioisotopes, which finds wide application in drug development, biosimilars development, and the validation of new therapies. Pharmaceutical companies are constantly engaging in research and development of new molecular entities and biologics to treat various diseases. A liquid scintillation analyzer plays a critical role right from the initial drug discovery stage to quantify the binding of ligands to target receptors to assessing the bioavailability and metabolism of molecules in pre-clinical and clinical studies. Additionally, liquid scintillation counters are highly useful in analyzing radioisotope-labelled biomarkers for diagnosing and studying disease mechanisms. With a rising focus on precision medicine approaches, demand for such analytical tools from drug makers is surging.
• Use of Liquid Scintillation Analyzers in Drug Discovery Applications: The use of liquid scintillation analyzers in drug discovery applications is a major factor driving the growth of the liquid scintillation analyzer market. Pharmaceutical and biotechnology companies are increasingly relying on liquid scintillation analyzers for various research activities in drug discovery and development.