The global life science & analytical instruments market is on a remarkable growth trajectory, valued at USD 56.56 billion in 2024, growing to USD 59.98 billion in 2025, and projected to reach USD 101.31 billion by 2034. With a steady CAGR of 6.04% from 2025 to 2034, this market is fueled by increasing R&D spending, technological innovations, and growing applications in pharmaceuticals, biotechnology, and healthcare diagnostics.
Market Overview
The growing prevalence of genetic disorders and chronic diseases, combined with robust investments in life sciences research, are key drivers of this market. Technologies such as immunoassays, chromatography, spectroscopy, flow cytometry, PCR, next-generation sequencing (NGS), and clinical chemistry analyzers are witnessing surging demand.
Key Takeaways:
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2024 Market Size: USD 56.56 billion
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2034 Projection: USD 101.31 billion
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CAGR (2025–2034): 6.04%
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Dominant Region: North America (39% market share in 2024)
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Fastest Growing Region: Asia Pacific
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Top Product Segment: Spectroscopy instruments (28% revenue share in 2024)
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Fastest Growing Product Segment: Lab automation & robotics
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Top Application Segment: Pharmaceutical & biotechnology research (46% share in 2024)
Top Companies in the Life Science & Analytical Instruments Market
1. Thermo Fisher Scientific Inc.
About: A global leader in scientific instrumentation, reagents, and consumables.
Products: Chromatography systems, mass spectrometry, genetic analyzers, lab automation.
Market Cap: Approx. USD 225 billion.
2. Agilent Technologies, Inc.
About: Focuses on life sciences, diagnostics, and applied chemical markets.
Products: Chromatography, spectroscopy, and molecular biology tools.
Market Cap: Approx. USD 40 billion.
3. Danaher Corporation (Sciex, Beckman Coulter, Leica)
About: Operates across life sciences, diagnostics, and environmental sectors.
Products: Mass spectrometry (Sciex), flow cytometry (Beckman Coulter), microscopy systems (Leica).
Market Cap: Approx. USD 190 billion.
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4. Shimadzu Corporation
About: Japanese company renowned for analytical and measuring instruments.
Products: Chromatography, spectroscopy, and testing machines.
Market Cap: Approx. USD 10 billion.
5. PerkinElmer, Inc. (Revvity)
About: Offers solutions in diagnostics, life sciences, and applied markets.
Products: Genomics, imaging, spectroscopy, and detection technologies.
Market Cap: Approx. USD 15 billion.
6. Waters Corporation
About: Specializes in chromatography, mass spectrometry, and thermal analysis.
Products: HPLC systems, UPLC, and analytical software.
Market Cap: Approx. USD 20 billion.
7. Bruker Corporation
About: Provides high-performance scientific instruments and solutions.
Products: NMR, mass spectrometry, and infrared spectroscopy.
Market Cap: Approx. USD 9 billion.
8. Bio-Rad Laboratories, Inc.
About: Focuses on life science research and clinical diagnostics.
Products: PCR systems, flow cytometry, and electrophoresis.
Market Cap: Approx. USD 12 billion.
9. Illumina, Inc.
About: A leader in DNA sequencing and array-based technologies.
Products: Next-generation sequencing platforms and reagents.
Market Cap: Approx. USD 25 billion.
10. QIAGEN N.V.
About: Develops sample and assay technologies for molecular diagnostics.
Products: PCR, NGS, and automated testing systems.
Market Cap: Approx. USD 10 billion.
11. Roche Diagnostics
About: A division of Roche, leading in in-vitro diagnostics solutions.
Products: Molecular diagnostics, clinical chemistry, and immunoassays.
Market Cap (Roche Group): Approx. USD 250 billion.
12. Eppendorf SE
About: Known for its laboratory instruments and consumables.
Products: Pipettes, centrifuges, and bioprocess equipment.
Market Cap (Private Company): Estimated multi-billion USD turnover.
13. Merck KGaA (MilliporeSigma)
About: Offers lab materials, technologies, and services for life sciences.
Products: Lab chemicals, reagents, filtration systems.
Market Cap: Approx. USD 80 billion.
14. GE HealthCare (Cytiva)
About: Provides bioprocessing solutions for pharmaceutical manufacturing.
Products: Bioreactors, chromatography systems, and cell therapy tools.
Market Cap: Approx. USD 35 billion.
15. Oxford Instruments plc
About: Supplies high-tech tools for research and industrial applications.
Products: Cryogenic systems, microscopy, and spectroscopy instruments.
Market Cap: Approx. USD 2 billion.
FAQs about the Life Science & Analytical Instruments Market
1. What is driving the growth of the life science & analytical instruments market?
The growth is driven by increasing R&D spending, prevalence of chronic and genetic diseases, and technological advancements in analytical tools.
2. Which region holds the largest market share?
North America dominates with 39% market share in 2024, while Asia Pacific is expected to grow the fastest.
3. Which product segment leads the market?
Spectroscopy instruments lead with a 28% revenue share, while lab automation & robotics are projected to grow fastest.
4. Who are the top players in this market?
Major players include Thermo Fisher Scientific, Agilent Technologies, Danaher Corporation, Shimadzu Corporation, and Illumina, among others.
5. What is the projected CAGR of the market?
The market is expected to grow at a CAGR of 6.04% between 2025 and 2034.
Source : https://www.towardshealthcare.com/insights/life-science-and-analytical-instruments-market-sizing
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