Revenue of Biotechnology Instruments from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
The global sales of Biotechnology Instruments in 2021 was held at US$ 46.1 Bn. With 16.4%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth.
According to Biotechnology Equipment Industry Research by Fact.MR – a market research and competitive intelligence provider, Historically, from 2015 to 2021, the market value of the Biotechnology Equipment industry grew at a CAGR of approximately 14.9%, including the U.S., Countries like China, UK, Japan and South Korea had a significant share in the global market.
The rise in the incidence of disorders requiring surgical treatment, especially the minimally invasive surgery (MIS) industry promises to expand, which will help accelerate the dermatological devices market in future years. Due to this, the Biotechnology Instruments market is expected to grow at a CAGR of 14.4 per cent in the coming 10 years.
- The biotechnology equipment market reached a valuation of US$53.3 Bn in 2022, leading to a 12.6% year-on-year increase in revenue worldwide. With the global increase in the incidence of a wide range of chronic diseases, the need for tailored medicines is projected to skyrocket in the coming years. It will also be a major growth factor for the global market for biotechnology devices, as the need for human resources capable of meeting the growing demand for biotechnology goods is predicted to skyrocket.
- Fact.MR estimates that revenue from biotechnology devices will grow 4.5X from 2022 to 2032, reaching approximately US$241.4 Bn in 2032.
- Life Science Consumables will account for the majority share of Biotechnology Instruments revenue and dominate the hospitals and health care facilities sector, due to an increase in demand for In Vitro Diagnostic (IVD) point-of-care devices in clinical labs and hospitals. is likely to. market during the forecast period.
For more information about this report https://www.factmr.com/report/biotechnology-instruments-market
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