Biotechnology Instruments Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Biotechnology Instruments Market: Overview
The biotechnology instruments market is projected to experience growth opportunities in the upcoming years. This market growth is on the back of the increasing adoption of point-of-care diagnostic devices. The point-of-care testing system is undergoing various technological advancements due to the increasing rate of R & D activities. These diagnostic devices are commonly used in different healthcare centers. Owing to its extensive application range, the biotechnology instruments market is likely to experience growth opportunities in the forthcoming years.
The newly developed POC devices enable real-time transmission of the test results. This data is transferred to patients’ electronic medical records to provide convenience to physicians during the review process. This system comes with a convenient approach and enables the system to comply with the latest changes as per the laboratory regulations.
The increasing cases of cancer, diabetes, cardiovascular disorders, infectious diseases (for example COVID-19), and others are also anticipated to bring growth opportunities in the biotechnology instruments market.
Biotechnology Instruments Market: Key Trends
Researchers and scientists from centralized and decentralized laboratories are using nanopore sequencing. The motive of this is to facilitate sequence data sharing from SARS-Co V-2 at a rapid pace. Researchers have been putting efforts to share sequenced genomes on public databases, such as GISAID and GenBank. This initiative has primarily been taken for the analysis of public health responses. The increasing count of coronavirus cases has resulted in the building of laboratories capacity in order to sequence genomes from various samples. Owing to these initiatives, the biotechnology instruments market is likely to experience significant growth opportunities.
The availability of flexible and advanced technologies has been employed for the development of medical lasers. This initiative has actually shifted the application of these lasers from the key usages. For example, these lasers are used for the removal or cutting of critical treatment approaches to repair damaged areas or parts in the body. Automation is projected to achieve wider acceptance in the biotechnology field and further contribute to the growth in the lab automation segment. Owing to these technological advancements, the biotechnology instruments market.
Biotechnology Instruments Market: Competitive Dynamics and Key Developments
The key players operating in the biotechnology instruments market have been adopting different strategies to bolster growth opportunities in the forthcoming years. Further, the market for biotechnology instruments has been marked by the presence of different emerging and well-established players. The well-known market players are adopting a lot of strategies such as acquisitions, mergers, and novel product launches.
For instance, Lumenis has launched MOSES 2.0 Next-Generation Holmium Laser Technology in July 2021. This launch has been targeted for the improvement of the effectiveness of urinary stones and the enlarged prostate procedure. This is possible with the optimization of laser energy transmission. In addition to this, growing funding initiatives assist different startups in the expansion of their market footprints.
Some prominent players in the global biotechnology instruments market include:
Biotechnology Instruments Market: Regional Assessment
The biotechnology instruments market is spread across different geographical locations across the globe including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these regions, the North America region is anticipated to hold a dominating position in the market. This market dominance is on the back of increasing product demand along with the affordability of biotechnology instrumentation. In addition to this, an increasing inclination for manual automation in pharmaceuticals, biotechnology, and other related industries from the region is also bolstering demand for sophisticated and advanced instruments. These instruments accelerate and ease the medical process. In addition to this, the easy availability of government funding for R & D activities is likely to boost growth opportunities in the biotechnology instruments market.
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