The Biotechnology Instruments Market is estimated to be valued at US$ 50.2 Bn in 2022 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Biotechnology instruments are used in various research applications, such as DNA sequencing, recombinant DNA technology, polymerase chain reaction (PCR), and cell culture. These instruments are crucial in studying and analyzing biological processes, which has led to significant advancements in the field of biotechnology.
The global biotechnology instruments market is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period. This growth is driven by the increasing adoption of advanced biotechnology technologies and the rising need for new drug development. The market is dominated by North America, with the United States being the fastest-growing region due to its well-established biotechnology industry and favorable regulatory environment. Key players operating in the biotechnology instruments market include AngioDynamics, Cynosure, LLC, Lumenis, Candela Medical, Novanta Inc., Iridex, Alcon Inc., and Zimmer Biomet.
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