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3. New Product Launches is the Key Growth Strategy in the Portable Analytical Instruments Market

The global portable analytical instruments market is growing at a CAGR of 3.3% between 2015 and 2020. There is a high degree of fragmentation in this market. The major players in the global portable analytical instruments market are Thermo Fisher Scientific, Inc. (U.S.), B&W Tek (U.S.), Danaher Corporation (U.S.), Bruker Corporation (U.S.), and Shimadzu Corporation (Japan). Other players in this market are Agilent Technologies (U.S.), Teledyne Technologies, Inc. (U.S.), Spectris plc (U.K.), Jasco Inc. (U.S.), and HORIBA Ltd. (Japan).

An analysis of the market developments between 2013 and 2016 reveals that new product launches, service launches, and product upgrades was the most important growth strategy for market players in this period. This strategy was adopted by major players including Thermo Fisher Scientific, Inc. (U.S.), B&W Tek (U.S.), Danaher Corporation (U.S.), Bruker Corporation (U.S.), Shimadzu Corporation (Japan), Agilent Technologies (U.S.), Spectris plc (U.K.), and Jasco Inc. (U.S.).

The other important growth strategies adopted were acquisitions, agreements, collaborations, partnerships, and expansions. These strategies were adopted by players for strengthening their existing product portfolios and expanding their geographic presence. Thermo Fisher Scientific, Inc. (U.S.), HORIBA Ltd. (Japan), Teledyne Technologies, Inc. (U.S.), Shimadzu Corporation (Japan), Bruker Corporation (U.S.),  B&W Tek, Inc. (U.S.), Agilent Technologies (U.S.),  Danaher Corporation (U.S.), and Spectris plc (U.K.) are some players that adopted these strategies.

Thermo Fisher Scientific, Inc. (U.S.) held the leading position in the portable analytical instruments market. The company offers products and services for clinical science and laboratory research & analysis in all major geographies, such as Europe, Asia, and Latin America. During 2013 to 2016, the company focuses on both organic and inorganic growth strategies such as new product launches, acquisitions, and expansions to maintain its leading position and enhance its market share by comprehensively enhancing its portable analytical instruments product portfolio. For instance, in January 2016, Thermo Fisher Scientific, Inc. announced plans to acquire Affymetrix Inc. (U.S.), a leading provider of cellular and genetic analysis products for approximately USD 1.3 billion. This acquisition will further help the company strengthen its leadership in biosciences and genetic analysis, and also to strengthen its antibodies and assay product portfolio.

B&W Tek, Inc. (U.S.) is the second-largest player in the portable analytical instruments market. The company’s product portfolio for optical spectroscopy & laser instruments and laboratory instruments includes portable and handheld Raman systems. The company maintained its market position by introducing new products. During 2013 to 2016, it launched four new products and upgraded three existing products. The company also focuses on the inorganic growth strategies of expansions, partnerships, and agreements. For instance, in March 2015, this company launched new solutions for its NIR and LIBS platforms, thus enhancing its product offerings in the portable analytical instruments market.

Related Reports:

Portable Analytical Instruments Market by Product (pH Meters, Conductivity and Resistivity Meters, TOC Analyzers), Technology (XRF, FTIR, LIBS, NIR & Elemental Analysis), End Users (Food and Beverage Industry), Geography - Global Forecast to 2020

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