Discrete Analyzers Market
Number of pages: 100 | Report Format: PDF | Published date: May 09, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.34 billion |
|
Revenue Forecast in 2031 |
US$ 2.16 billion |
|
CAGR |
5.43% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Products, Modality, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global discrete analyzers market was valued at US$ 1.34 billion in 2022 and is expected to register a revenue CAGR of 5.43% to reach US$ 2.16 billion by 2031.
Discrete Analyzers Market Fundamentals
Discrete analyzers are laboratory instruments that are used for automated chemical and biochemical analysis of samples. They can perform multiple tests on discrete, individual samples simultaneously, without the need for human intervention during the analysis process. The reactions can be monitored through color changes, absorbance or fluorescence measurements, or other detection methods. Discrete analyzers can be used for a wide range of applications, including clinical laboratory testing, environmental monitoring, food and beverage testing, and quality control in industries such as pharmaceuticals and biotechnology. They are capable of analyzing a variety of sample types, including liquids, powders, and solid materials. One of the main advantages of discrete analyzers is their ability to perform a large number of tests simultaneously, which improves efficiency and reduces the time required for laboratory analysis. They also have a high level of accuracy and precision and can be programmed to run customized protocols for specific applications.
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Discrete Analyzers Market Dynamics
Discrete analyzers are also used extensively in research and development activities in industries such as pharmaceuticals, biotechnology, and food and beverage. As research and development activities continue to expand, the demand for discrete analyzers is expected to grow. The Congressional Budget Office (U.S.) reported that, in 2019, the pharmaceutical industry spent US$ 83 billion in pharmaceutical research and development, which was about 10 times that in the 1980s. The organization also mentioned that between 2010 and 2019, there was a 60% increase in the number of new drugs approved for sale, with the figure peaking at 59 drugs in 2018. Pharmaprojects reported that in 2021, there were 18,582 drugs in pharma R&D, representing a 4.76% increase over 2020. Of these, 10,223 candidates were in the preclinical phase. These statistics are indicative of the high demand for analytical instrumentation such as discrete analyzers in the pharmaceuticals and biopharmaceuticals industry.
Moreover, new technologies, like robotics and artificial intelligence, have resulted in the creation of more complex and efficient discrete analyzers. These advancements have improved the accuracy and reliability of laboratory testing, which has contributed to the growth of the global discrete analyzers market. Additionally, the high initial investment, limited availability of skilled professionals, and competition from alternative technologies are some of the restraints impeding the overall discrete analyzers market growth.
Discrete Analyzers Market Ecosystem
Discrete Analyzers Market, by Products
Discrete Analyzers Market, by Modality
Discrete Analyzers Market, by End User
Discrete Analyzers Market by Products
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The discrete analyzer systems segment had a significant revenue share of the market in 2022. Discrete analyzer systems are used to perform a wide range of chemical and biochemical tests, including clinical laboratory testing, environmental monitoring, food and beverage testing, and quality control in industries such as pharmaceuticals and biotechnology. A number of factors such as the pH balance, sugars, acids phenols and nitrogen compounds etc. determine the taste, stability and flavor of several food products. Discrete analyzer systems are in high demand in the food and beverage industries such as dairy, processed fruits and vegetables, non-alcoholic beverages and alcoholic beverages. When compared with the consumables, discrete analyzer systems are of high value and therefore will have a greater revenue share of around 45% by 2031. Additionally, the demand for benchtop discrete analyzer systems is significantly high, occupying approximately 3/4th of the global revenue share. Benchtop analyzers are versatile devices for any setting across pharmaceutical, environmental and food and beverage testing laboratories. Moreover, due to the competitive prices and the benefit of automation, benchtop discrete analyzers are a preferred choice of instrumentation across laboratories of all sizes and scale.
The market segmentation sections provide the discrete analyzers market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of industry into subgroups depending on characteristics such as product, modality, and end user. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential discrete analyzers market demand opportunities.
Discrete Analyzers Market by Region
North America dominated the global discrete analyzers market with the largest revenue share in 2022, as it has a well-established healthcare infrastructure, with a large number of clinical laboratories and research institutions that use discrete analyzers for diagnostic and research purposes. In addition, the region has a strong pharmaceutical and biotechnology industry, which is a major user of discrete analyzers for research and development activities. The food and beverage industry are also a significant market for discrete analyzers in North America, as they are used for quality control and testing.
Based on the regions, the global discrete analyzers market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of discrete analyzers industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level discrete analyzers market overview.
Key Components of the Report
The global discrete analyzers industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the discrete analyzers market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the discrete analyzers market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Discrete Analyzers Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Discrete Analyzers Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Discrete analyzers are laboratory instruments that are used for automated chemical and biochemical analysis of samples.
The global discrete analyzers market was valued at US$ 1.34 billion in 2022.
North American region will have the largest discrete analyzers market size during the forecast period from 2023 to 2031.
The revenue CAGR of the discrete analyzers market during the forecast period will be 5.43% from 2023 to 2031.
Growing need for ensuring food safety and ensuring safe drinking water supply in the low- and middle-income countries are the key trends identified in the discrete analyzers market.
The high initial investment and limited availability of skilled professionals are some key challenges hampering the growth of the global discrete analyzers market.
Increasing demand for automated laboratory testing and technological advancements are growth opportunities in the global discrete analyzers market.
Some of the prominent players in the discrete analyzers market are SYSTEA S.p.a, Astoria-Pacific, Inc., NECi Superior Enzymes, Abbott Laboratories Inc., Roche Holding AG, and KPM Analytics.
The discrete analyzer systems segment has the highest share in the global discrete analyzers market.
*Insights on financial performance are subject to the availability of information in the public domain
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