Dallas, Texas, United states, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Biotechnology Instruments Market is estimated to grow from USD 47470 million in 2020 to USD 106750 million by 2027, at a CAGR of 12.66%.
The increasing use of point-of-care diagnostic equipment is a major driver of the market. R&D breakthroughs have continuously improved the capabilities of point-of-care (POC) testing systems. New equipment provides a diverse range of tests that can be employed in a variety of healthcare settings. New POC devices enable real-time transfer of test results to patients' electronic medical records for simple review by physicians.
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Market Segmentation Analysis
Based on the End-use, the market is segmented into Government & Academic Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Healthcare Facilities, Others. Hospitals and healthcare segment has largest market share during the forecast period. Recent improvements in IVD equipment have made them more user-friendly and efficient, increasing their acceptance throughout healthcare settings. Beckman Coulter, for instance, debuted the DXH560 AL, a tabletop hematology analyzer, in February 2021. It is intended to reduce the time and resource constraints that mid- and small-sized laboratories confront.
Key Players
The key players profiled in Biotechnology Instruments market analysis include Abbott, Agilent Technologies, Alcon, Inc., AngioDynamics, Becton, Dickinson, and Company, BioMerieux SA, Bio-Rad Laboratories, BioTek Instruments, Inc., and Candela Medical, Cynosure, LLC, Danaher Corporation
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COVID-19 Impact on the Biotechnology Instruments Market
The COVID-19 pandemic has created a demand for rapid diagnostic assays and self-testing kits, which various companies are aggressively meeting. Shimadzu Corporation will offer the completely automated PCR testing AutoAmp Genetic Analyzer (AutoAmp) in Japan in December 2020. This improved the COVID-19 testing capability of Japanese clinics.
Market Segmentation
By End-use
- Government & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Healthcare Facilities
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Regional Analysis
Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. North America is expected to have the largest revenue share. China and India are the Asia Pacific region's major economies in the manufacturing sector, which is predicted to drive product demand in the automotive, construction, electrical & electronics, textile, and other industries.
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