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Global laboratory analytical instrument market: 6% CAGR between 2012-2016

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Global Laboratory Analytical Instrument Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-05 09:25:04
The Global Laboratory Analytical Instrument market is to grow at a CAGR of 5.93 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased adoption of large molecule analysis instruments by pharmaceutical companies. The Global Laboratory Analytical Instrument market has also been witnessing the development of instruments with increased features and functionalities. However, the long replacement cycles of laboratory analytical instruments could pose a challenge to the growth of this market.

Advancements in DNA sequencer technology is one of the emerging trends in the Global Laboratory Analytical Instrument market. A DNA sequencer is a laboratory analytical instrument which is used in the Pharmaceutical and Biotechnology sectors to automate the DNA sequencing process. DNA sequencing is performed by several R and D teams across the globe in order to study the biology of plants, animals, and microbes, and to analyze the differences between various diseases. DNA sequencer instruments are changing rapidly owing to the advancements in DNA sequencing technology.

For instance, the introduction of nanopore DNA sequencing (a hybrid approach to DNA sequencing which combines both first and second-generation DNA sequencing technology) and the electrical detection approach are some of the major advancements in DNA sequencing technology. Furthermore, a few vendors are using electron microscopy to read the nucleotide bases of a single DNA strand. Thus, increasing advancements in DNA sequencer technology will have a positive impact on the growth of the Global Laboratory Analytical Instrument market during the forecast period.

The growing need to comply with US FDA requirements for the commercialization of new drugs is one of the major drivers in the Global Laboratory Analytical Instrument market. A new drug/medicine needs to be tested and analyzed before it is commercialized. Over the past few years, it has become compulsory that, in order for any new drug/medicine to be approved for commercial sale in the US, a report has to be submitted to the FDA detailing the various analytical procedures involved in the manufacturing process and providing information about the composition, strength, quality, purity, and potency of the drug.

These analytical procedures are now part of a standard protocol for all biopharmaceutical companies, and these companies have been investing in devices which are capable of conducting the necessary analysis in an efficient and optimum manner. Hence, the use of laboratory analytical instruments such as mass spectrometers, atomic spectroscopes, and elemental analyzers is growing at a rapid rate in sectors such as Food and Beverages and Pharmaceutical.

The key vendors dominating this space are Agilent Technologies Inc., Bruker Corp., Danaher Corp., Hitachi High-Technologies Corp., HORIBA Ltd., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc. The other vendors mentioned in the report are JASCO Inc., B and W Tek Inc., and Illumina Inc.

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