According to Frost & Sullivan, the rise of the Industrial Internet of Things (IIoT) has given a significant boost to the global analytical instrumentation market, making it more automated, data centric, and production oriented.
This trend, along with customer demand for efficient analysers, are prompting analytical equipment manufacturers to offer new solutions that simplify the analytical process, improve automation, store data, and enable access to this data for common use cases.
Driven by clients' high throughput and efficiency needs, the total market is expected to grow from US$19.58 billion in 2018 to US$20.81 in 2019.
"The market will be bolstered by the strong demand from Asia-Pacific, particularly, India and China," said Janani Balasundar research analyst Measurement & Instrumentation. "Analytical equipment manufacturers providing training, awareness, and application knowledge will experience considerable expansion in the emerging markets."
Citing the IT research firm’s latest research entitled “Outlook of Global Analytical Instrumentation Market, 2019”, Balasundar said analytical equipment – including liquid chromatographs and mass spectrometers – will be increasingly used as diagnostic equipment due to the sensitivity and efficiency requirements of diagnostic applications.
"Pharmaceuticals, biotechnology, academics, and food testing will be the primary end users of analytical instrumentation,” she said. “However, there will be a dip in demand for gas chromatographs and gas analysers due to the slowdown in the chemicals & petrochemicals and oil & gas markets because of fluctuating oil prices and resource scarcity.”
For additional revenue opportunities in the global market, instrumentation manufacturers will look to:
- Develop a common data platform that can store and retrieve data in a common format for complex analytical processes.
- Simplify the user interface and functionality of the equipment to make them easy-to-use for laboratory technicians.
- Offer predefined templates and method documentation solutions.
- Provide a simple push and play operation for operators with inadequate training or skills.