The global biotechnology instrumentation market is expected to substantially grow during the forecast period. Co-dependence of the rising development of pharmaceutical and biotech industry on the biotechnology instrumentation market is anticipated to be the key driver for its growth worldwide. New drug development and increasing therapeutic applications of existing drugs lead to the rising development of pharmaceutical companies. Other drivers contributing to the growth of the market include; rising government support, enhancing technological advancement of biotechnology instruments, and replacement of older instruments. Advantages offered by the instruments such as increasing accuracy, efficiency and performance with minimum cost for analysis, further fuel the growth of the market. Entry of various new players in the market during the forecast period is another impact rending driver which is expected to enhance the growth. Imaging technology of biotechnology instrumentation held the largest share and is expected to maintain stable growth during the forecast period. The dominance is attributed to increasing applicability and popularity of the process over others.
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Electrophoresis held the second largest share owning to advantages offered such as ease of use, good performance and high accuracy. According to the end users, pharmaceutical companies held the largest share of the market due to presence of large number of such companies globally and increasing entrants in the industry.
North America held the largest share of the market and its dominance is anticipated to sustain during the forecast period. The key driver of growth in this region is initiation and completion of Human Genome project. Other drivers include increasing R&D, rising interest of government in promoting the healthcare industry and demand of companies for advanced, accurate and efficient instruments. Asia Pacific is expected to show the fastest growth during the forecast period owning to introduction of new companies and subsidiaries in the region. India, Singapore and China are anticipated to witness most lucrative growth in this region due to rising government and FDI funding, increasing investments and new market development.
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