|Global Analytical Instrumentation Market in Pharmaceuticals, Biopharmaceuticals, and Nutraceuticals, Forecast to 2025|
The global pharmaceuticals, biopharmaceuticals, and nutraceuticals market includes market revenues of analytical instrumentation applied in the 3 segments. Analytical instruments are applied in research, development, manufacturing, quality control, and distribution of drugs. Some key applications include (and are not limited to) drug discovery and development testing, biopharmaceutical analytical testing, quality control testing, cancer research, and process technology analysis.
The total analytical instrumentation market in pharmaceuticals, biopharmaceuticals, and nutraceuticals was estimated at $3056.7 million in 2018, and is expected to reach $4911.4 million in 2025. There is a high pricing pressure on drug manufacturers to cut down costs. Hence, manufacturers would have to create a flexible pricing strategy to maximize their profits and negotiate with payers. Process analyzers that can be plugged in as part of the manufacturing process would reduce operating costs for manufacturers.