Digital Transformation Across Life Sciences Industry Boosts Instrumentation Market

Automation and robotization to ensure industrywide streamlining and increase future growth potential SAN ANTONIO, March 1, 2023 /PRNewswire/ — The development of next-generation sequencing (NGS) technology, a wide array of informatics, and robotics are some of the most recent technological advancements in life science instrumentation and research tools. According to a recent study by Frost & Sullivan on the global market for life science instruments and research tools, investments in lab automation and analytics will hasten the growth of the lab instrumentation market. The global market is anticipated to grow at a compound annual growth rate (CAGR) of 6.4%, from $66.37 billion in 2021 to $90.41 billion in 2026. Digital Transformation Across Life Sciences Industry Boosts Instrumentation Market For further information on this analysis, please click here. "With the growing focus on decentralized diagnostics in both developed and developing economies, demand for portable instruments is expected to increase," said Lucila Martin, Healthcare Research Analyst at Frost & Sullivan . "Additionally, higher demand for smaller instruments has increased pressure on original equipment manufacturers (OEMs) to develop and supply parts to support the development of portable instruments." Martin added: "Democratization of NGS drove the growth of the global genomic sector, enabling […]

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