The Biotechnology Instruments Market Growth is Accelerated by Increasing Focus on Personalized Medicine

 

Biotechnology instruments help in diagnostics, research, drug discovery and production of biological products and organisms for specific use. Instruments like centrifuges, incubators, laminar airflow cabinets are used for cell culture, gene synthesis and analysis while analytical tools like spectroscopy, microscopy and chromatography find applications in proteomics, metabolomics and genomic analysis. The global biotechnology instruments market is estimated to be valued at US$ 57 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing trend of personalized medicine has accelerated the demand for advanced biotechnology instruments in recent years. Personalized medicine involves tailoring treatment to individual characteristics, lifestyle and condition through molecular diagnostics and targeted therapies. It aims to provide right treatment to the right patient at right time. Next generation sequencing instruments, polymerase chain reaction systems and other genomic tools have driven breakthroughs in clinical research and precision medicine. Continuous improvements in design and resolution of these instruments allows analysis of diseases at molecular level, predicting drug responses and developing customized treatment plans for better health outcomes.

Segment Analysis
The global biotechnology instruments market is dominated by DNA/RNA analysis systems segment. This segment accounts for over 30% share of the overall market owing to large applications of DNA/RNA analysis techniques in genomics research, forensics, and molecular & cellular biology. DNA/RNA analysis instruments such as next generation sequencing systems, gene expression analysis systems, microarrays, and other high-throughput analysis platforms have wide usage in clinical diagnostics, drug discovery, and personalized medicine. Rising genomic research activities and investments in precision medicine are leading to adoption of advanced DNA/RNA instruments.

Key Takeaways

The Global Biotechnology Instruments Market Size is expected to witness high growth.

Regional analysis: North America currently holds the highest share in the global biotechnology instruments market supported by considerable public-private investments in research and development. The US has emerged as a key market due to large number of ongoing clinical studies, genomics research projects, and focus on implementation of precision medicine. Several European countries including Germany, France and the UK also account for sizable shares supported by strategic initiatives to promote personalized healthcare. Asia Pacific region is anticipated to register highest CAGR during the forecast period with China and India emerging as important hubs for biotechnology. Rapid establishment of clinical research facilities, genetic testing labs and biomanufacturing units is fueling the demand for biotechnology instruments across Asia Pacific.

Key players operating in the biotechnology instruments market are Kawasumi Laboratories Inc., Blood Purification Technologies Inc., AWAK Technologies Pte. Ltd, Triomed AB, Asami Kasei Medical Vo. Ltd, US Kidney Research Corporation, Merit Medical Systems, NIPRO Medical Corporation, Fresenius SE & Co. KGaA. Major companies are focusing on developing advanced platforms for molecular diagnostics, proteomics and DNA sequencing through mergers, collaborations and new product introductions.

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