Pharma & Biotechnology Sector in India to Generate High Demand for Analytical Instruments until 2023
Increasing investments in research
and development coupled with growing end use industries such as pharmaceutical
& healthcare, F&B, etc., to push demand for analytical instruments in
India through 2023
According to TechSci Research report, “India Analytical Instrument Market By Application Type, By Product Type, By
Instrument Type, Competition Forecast & Opportunities, 2023”, India analytical instrument market is forecast to surpass $ 3.7 billion by
2023. Analytical instruments offer
measurement of a wide range of quantitative and qualitative properties (physical
and chemical properties) such as molecular mass, pH, conductivity, total
organic matter, biological oxygen demand, etc., of a substance/sample. Owing to
these properties of analytical instruments, they are largely preferred across
various end use industries. Increasing stringent FDA standards and rising concerns
regarding food safety is leading to huge investments in instruments for drugs and
vaccine manufacturing, thereby positively influencing India analytical
instrument market. Moreover, food & beverages industry is witnessing
significant growth and consistent growth in demand for water and wastewater treatment
in the country’s industrial sector is expected to further push demand for analytical
instruments in India during forecast period.
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Industrial sectors such as power, pharmaceuticals, chemical, petrochemical,
and food & beverage have been witnessing consistent growth in India over
the past few years and the trend is expected to continue in the coming years as
well. Growth of these sectors is likely to boost demand for analytical
instruments across the country over the next five years. Moreover, stringent environmental
policies of Central Pollution Control Board such as ‘Zero Liquid
Discharge’ have led to investments in establishment of sewage treatment plants across
the country. This coupled with river cleaning programs such as “Namami Ganga”, etc.,
are anticipated to further boost
sales of analytical instruments during the forecast period.
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A large demand for
analytical instruments emanates from Southern region of India, mainly in cities like
Hyderabad and Bengaluru. Major industries like pharmaceutical, biotechnology,
chemical, food & beverages, etc., are located in the country’s southern
region, which generate a huge demand for analytical instruments. “Increase
in public-private investments in research & development field over the last
few year and establishment of laboratories to improve educational
infrastructure coupled with increasing
environmental monitoring standards is likely to propel demand for analytical
instruments in India over the course of next five years. Such
developments would provide lucrative opportunities to analytical instrument manufacturing companies
operating in India through 2023.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Analytical Instrument Market By Application Type, By Product Type, By
Instrument Type, Competition Forecast & Opportunities, 2023” has evaluated the future
growth potential of India analytical instrument market and provides statistics
and information on market structure, size, share and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in India analytical instrument market.
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