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Product Launches and Enhancements: Key Growth Strategies Adopted by Leading Market Players to Ensure Growth in the Global Life Science Instrumentation Market
The global life science instrumentation market is expected to grow at a CAGR of 6.8% between 2016 and 2021. The major players in the global life science instrumentation market are Agilent Technologies, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Bruker Corporation (U.S.), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), and Waters Corporation (U.S.).
An analysis of the market developments between 2013 and 2016 reveals that product launches and enhancements was the most widely adopted growth strategy by players in the global life science instrumentation market. Players adopted this strategy to strengthen their product portfolios and maintain a competitive position in the market. Agilent Technologies, Inc. (U.S.), Shimadzu Corporation (Japan), and Bruker Corporation (U.S.) are players that primarily adopted this strategy.
Thermo Fisher Scientific, Inc. held the leadership position in the global life science instrumentation market in 2015. The company offers a vast range of analytical instruments, such as chromatography, spectroscopy, electrophoresis, and lab automation systems; flow cytometers; PCR instruments; incubators; and centrifuges. Over the past three years, the company adopted new product launches, acquisitions, and geographic expansions as its key business strategies to increase its share in the global life science instrumentation market. The acquisition of Life Technologies (a leading manufacturer and supplier of biotechnology products and services), in February 2014, helped Thermo Fisher Scientific to strengthen its life sciences product portfolio and increase its customer base across all geographies.
Agilent Technologies, Inc. held the second position in the global life science instrumentation market in 2015. The company has a strong geographical presence and robust product portfolio for several analytical technologies such as chromatography, spectroscopy, electrophoresis, lab automation, and PCR. The company focuses on new product developments and launches, agreements and partnerships, and geographic expansions in order to uphold its leading position in the global life science instrumentation market. During 2015 to 2016, the company introduced a number of novel analytical instruments in the market, including 1260 Infinity II liquid chromatography, 5110 ICP-OES, OneSight, 5977B High Efficiency Source (HES) GC/MSD System, 4200 TapeStation system, Bond Elut Enhanced Matrix Removal-Lipid, 1290 Infinity II Vialsampler, 6470 Triple Quadrupole LC/MS, 6545 Q-TOF mass spectrometry system, and OneSeq. This helped the company to strengthen its product portfolio.
Life Science Instrumentation Market by Technology (Chromatography, Flow Cytometer, Spectroscopy, PCR, Microscopy), End User (Pharmaceutical & Biotechnology Companies, CROs, Hospitals), Application (Research, Clinical & Diagnostic) - Global Forecast to 2021
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