Increasing investments and funding for life sciences, pharmaceutical, and biotechnology research to propel the life science & analytical instruments marketPublished On: October 24, 2016
The life sciences industry is a constantly evolving industry that thrives on innovation. Owing to this, the expenditure on R&D activities is always high in this industry. As a result, the life science and analytical instrumentation market is expected to benefit from these increased spending on R&D activities. According to Battelle (a non-profit research and development organization) and R&D Magazine, the global life sciences R&D spending is $182.9 billion in 2013, an increase of approximately 4.2% compared to the previous year. Similarly, according to BB Biotech, the revenues for the biotechnology sector accounted for $91 billion in 2010 and are poised to exceed $150 billion in 2015.
Moreover, according to BioCentury Online Intelligence, in 2010, venture capital (VC) investments for the biotechnology sector increased by 5% to $5.4 billion, worldwide In Europe, VC investments increased by about 50% to $1.5 billion in the biotechnology segment. According to PricewaterhouseCoopers (PwC) and National Venture Capital Association, in 2010, VCs invested $21.8 billion in the U.S., a 19% increase in U.S. dollars over 2009. Similarly, venture capitalists, according to ChinaBio Today, have invested more than $1 billion in China’s life sciences market in 2010, an increase of 319% over 2009. For instance, in 2010, AutekBio, a contract manufacturing organization, received $120 million from SUMA Ventures and the Chinese government to build a biologic drugs manufacturing facility in Beijing. Similarly, according to Thomson Reuters, in Canada, 56 biotechnology companies received $299 million in VC investments in 2010, an increase of 38% over 2009. Thus, the increase in R&D spending in the life sciences, pharmaceutical, and biotechnology sectors is likely to increase the application horizon of various life sciences and analytical instruments.
Furthermore, the key industry players are establishing their presence in emerging countries like China and India by establishing new facilities, R&D centers, and innovation centers in these regions. For instance, In June 2013, Thermo Fisher Scientific, Inc. (U.S.) established a China Innovation Center in Shanghai. The center was developed to expand research, development, and training capabilities that support high-growth markets in the Asia-Pacific region. In March 2012, Novasep (U.K.) established a new facility at Shanghai, China to address the growing demand for purification process solutions in China and Eastern Asia. Other key players including Agilent Technologies, Shimadzu Corporation, and Sigma-Aldrich Corporation also have increased their investments in the emerging markets which would accelerate the growth of the life science and analytical instrumentation market further,
According to the latest publication from Meticulous Research®, the global life science and analytical instrumentation market is expected to reach $48.48 billion by 2021 with a CAGR of 6.9% over the period of 2016 to 2021. The report analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on the growth of life science and analytical instrumentation market across the globe.
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