Strategic Directions International shares insights from recent market report on Lab Instrumentation Markets for Pharmaceuticals, Biopharmaceuticals, & CROs.
LOS ANGELES (PRWEB) SEPTEMBER 20, 2019
A new report from Strategic Directions International (SDi) says that instrument makers are adjusting to client demands for precision medicine products. The report, Lab Instrumentation Markets for Pharmaceuticals, Biopharmaceuticals, & CROs, says that with demand exceeding $19 billion in 2018, the pharma/bio sector is the largest source of demand for laboratory instrumentation.
With the rise of precision medicine, medical treatment is tailored to the individual characteristics of the patient and the disease, which has been made possible by the clinical commercialization of advanced analytical instrumentation, such as sequencing. As the market for precision treatments rapidly expands, companies in the pharma/bio space have adapted by investigating and developing highly targeted therapeutics. This has also led to a shift in the types of therapeutics being developed, as biotherapeutics, which are derived from molecules with a biological basis (i.e., recombinant DNA and antibodies), are able to target disease with much higher specificity than small molecule drugs.
The nature of biotherapeutics and their role in precision medicine is fundamentally changing the model of drug development and marketing. Because biotherapeutics are so highly targeted to specific disease and patient types, the patient pool for each drug is much smaller, compared to the old pharmaceutical model of developing “blockbuster drugs” that could treat large portions of the population. This has led to development pipelines involving a greater number of drugs, and an overall proliferation in the number of laboratories in the pharma/bio space. However, because resources are spread across the development of more therapeutics, the R&D infrastructures for individual labs are growing leaner.
Mettler Toledo, Qiagen, Millipore Sigma, PerkinElmer, Bio-Rad, Shimadzu, and Waters are among the companies in this market. These firms and others are covered in the report.
The sector represents 30% of the overall market for laboratory and life science instrumentation.
SDi’s newly published report, titled Lab Instrumentation Markets for Pharmaceuticals, Biopharmaceuticals, & CROs, is an in-depth analysis of how these trends and challenges are shaping the demand for analytical instrumentation and lab equipment in the pharma/bio space. Trends in pharma/bio development involving 64 technologies in 10 categories are examined through historic market growth and forecasts for demand over the next five years, while end-user perspectives gained through a survey completed by 120 pharma/bio researchers provide further insights into development pipelines, laboratory budget, and challenges being faced in therapeutics development.
The Lab Instrumentation Markets for Pharmaceuticals, Biopharmaceuticals, & CROs report can be found at https://strategic-directions.com/product/lab-instrumentation-markets-for-pharmaceuticals-biopharmaceuticals-cros/.
About Strategic Directions International
Strategic Directions International (SDi), part of Science and Medicine Group, is the leading business intelligence firm in the highly specialized field of analytical and life science instruments. Its client list includes virtually every major analytical instrumentation company in the United States, Europe, and Japan. Founded in 1981, the Los Angeles-based company has published hundreds of market reports and provided proprietary consulting services for a multitude of clients.