Higher Levels of Automation Expand Revenue Potential for Analytical Instrumentation Manufacturers
August 13, 2019 | Frost & SullivanEstimated reading time: 1 minute
The rise of the Industrial Internet of Things (IIoT) has given a significant boost to the global analytical instrumentation market, making it more automated, data centric, and production oriented. This trend, along with customer demand for efficient analyzers, are prompting analytical equipment manufacturers to offer new solutions that simplify the analytical process, improve automation, store data, and enable access to this data for common use cases. Driven by clients’ high throughput and efficiency needs, the total market is expected to grow from $19.58 billion in 2018 to $20.81 in 2019.
“Analytical equipment, including liquid chromatographs and mass spectrometers, will be increasingly used as diagnostic equipment due to the sensitivity and efficiency requirements of diagnostic applications,” said Janani Balasundar Research Analyst Measurement & Instrumentation. “Pharmaceuticals, biotechnology, academics, and food testing will be the primary end users of analytical instrumentation. However, there will be a dip in demand for gas chromatographs and gas analyzers due to the slowdown in the chemicals & petrochemicals and oil & gas markets because of fluctuating oil prices and resource scarcity.”
Frost & Sullivan’s recent analysis, Outlook of Global Analytical Instrumentation Market, 2019, is segmented by the product sectors of chromatography, molecular analysis spectroscopy, elemental analysis spectroscopy, mass spectrometry (MS), analytical microscopes, gas analyzers, liquid analyzers, and analytical x-ray instrumentation. It covers the geographic regions of North America, Europe, Asia-Pacific, and Rest-of-World.
“The market will be bolstered by the strong demand from Asia-Pacific, particularly, India and China,” noted Balasundar. “Analytical equipment manufacturers providing training, awareness, and application knowledge will experience considerable expansion in the emerging markets.”
For additional revenue opportunities in the global market, instrumentation manufacturers will look to:
- Develop a common data platform that can store and retrieve data in a common format for complex analytical processes.
- Simplify the user interface and functionality of the equipment to make them easy-to-use for laboratory technicians.
- Offer predefined templates and method documentation solutions.
- Provide a simple push and play operation for operators with inadequate training or skills.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success.
Suggested Items
LPKF Receives Major Customer Order in Solar
03/18/2024 | LPKFThe technology company LPKF Laser & Electronics SE has once again received a major order in the solar market, continuing its long-standing successful collabo[1]ration with a leading international manufacturer.
Asia/Pacific PC Market Dropped 16.1% in 2023
03/18/2024 | IDCThe traditional PC market (Desktops, Notebooks, and Workstations) in Asia/Pacific (including Japan and China) posted a 16.1% decline in 2023 to 97.4 million units, according to the International Data Corporation (IDC) Quarterly Personal Computing Devices Tracker, Q4 2023. Shipments are not expected to rebound significantly in 2024 due to weak demand and a slow economic recovery.
Terran Orbital Unveils Next-Generation SmallSat GEO Solution
03/15/2024 | BUSINESS WIRETerran Orbital Corporation, a global leader in satellite-based solutions primarily serving the aerospace and defense industries, announced their entrance into the small satellite geosynchronous orbit (GEO) market with their SmallSat GEO™ solution for satellites above 500kg.
HBM3 Initially Exclusively Supplied by SK Hynix, Samsung Rallies Fast After AMD Validation
03/15/2024 | TrendForceTrendForce highlights the current landscape of the HBM market, which as of early 2024, is primarily focused on HBM3. NVIDIA’s upcoming B100 or H200 models will incorporate advanced HBM3e, signaling the next step in memory technology.
Global Shipments of PC Workstations Shrank Nearly 9% in 2023
03/15/2024 | IDCThe global desktop and mobile workstation market reported a slight recovery as it exited 2023, with unit shipments growing 6.1% year over year in the fourth quarter (4Q23).