India Analytical Instrument Market Set to Surpass USD 2 Billion by 2018
Increasing awareness regarding air and water monitoring and environmental concerns to drive sales of analytical instruments in India
The market for analytical instruments in India has fared well during last couple of years and is further anticipated to increase at a strong growth rate over next few years. The reasons behind higher growth are stringent government regulations and rapidly booming pharmaceuticals and life science industry in India. Apart from pharmaceuticals and life sciences, petrochemical and food and beverage are also emerging as prominent sectors which are expected to fuel the market for analytical instruments in India.
According to a recently published report by TechSci Research, “India Analytical Instruments Market Forecast and Opportunities, 2018”, the market for chromatographs is largest by value in the Indian analytical instruments market with high growth potential. Given the current state of the pharmaceutical industry and government & academia in the market, the analytical instrument market is likely to report significant growth over the coming years. TechSci Research estimates the analytical instrumentation market to grow beyond USD 2 Billion by 2018.
Indian analytical instruments market comprises of multinationals as well as several local manufacturers, offering various kind of instrumentation along with advanced technologies. Increasing level of awareness regarding air and water monitoring and environmental concerns too shows the untapped potential in the market.
“Indian market is experiencing technological developments along with innovative product design. High demand for technologies like HPLC and gas chromatography have been reported in India. Buyers for these instruments looks for instruments with higher level of accuracy and multi-disciplinary instrumentations. Earlier the market for analytical instruments where being dominated by the laboratory instrumentation however this trend seems to be changing as higher demand for field instrumentation have been reported for analytical instruments” said Mr. Karan Chechi, Research Director working with TechSci Research a global management consulting firm.
Detailing about the competitive landscape, the report describes that a major portion of the market is dominated by multinational players whereas handful of domestic players are involved in the business. Moreover, it has been observed that multinational player are leading in high end instruments segments whereas domestic players are active in low end analytical instruments. Most of such instruments are being imported in the country and routed to the market through channel partners. Although, the manufacturers are directly involved in branding and marketing of their product but regional distributors play a significant role in customers pitching and negotiations.
“India Analytical Instrumentation Market Forecast and Opportunities, 2018” analyzes the growth potential of analytical instruments in India and provides statistical information on market size and shares, granulated with comprehensive primary research with industry experts and market players. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.