The global analytical instrumentation services and support market is likely to grow at a CAGR of 6.2% from 2016 to 2022. Key participants in this market are Thermo Fisher Scientific, Agilent Technologies, Shimadzu Scientific, and Waters Corporation. Products covered in Frost & Sullivan’s market research, “Emerging Opportunities in the Analytical Instrumentation Services & Support Market” include gas, liquid and ion chromatographs, Infrared, Ultraviolet-Visible, Raman, Mass, and Tunable-Diode Laser Spectrometer. Both online and laboratory analyzers are included in the research. End users covered in the research are pharmaceuticals, biotechnology and life sciences, Government and academic research institutions and laboratories, environmental safety and agricultural research testing laboratories, chemicals and petrochemicals, oil and gas (O&G), water and wastewater, metals and mining, and others including end users such as food and beverage, defense, homeland security, electronics, and semiconductors, medicine, power generation, iron and steel, and pulp and paper. Pharmaceutical is the key end user of this market and service providers are improvising their solutions to accommodate dynamic customer requirements. Types of services covered in the research are instrument service, laboratory operation & strategy service, application consulting service, and other support services. North America, Europe, Asia-Pacific, and rest of the world are the geographies included in the market research.
Market Drivers & Restraints
Key drivers for this market growth are:
- Multi-vendor services
- Value-added services such as laboratory operation & strategy service, application consulting services
- Increase in demand for third party service vendors who are Non-OEMs
- Increase in service requirement from different end-user industries
Key restraints for this market growth are:
- High turn-around times taken by equipment manufacturers
- Challenges in procurement of repair parts & supplies
- Customers’ price sensitivity
Regional Analysis
- The United States has large number of third party service providers compared to that of the rest of the world. Third party service providers compete with analytical equipment manufacturers in the United States by offering services in a quick turn-around time and low price. Hence, customers are shifting from manufacturers to third parties.
- In the United States, multiple service engineers with strong experience in any analytical technology pursue partnership with each other and start their firm. Such service providers are growing in the country.
- Small third party service providers in the United States specify the location they can provide service to, as they cannot afford to travel to different states in the country.
- In Europe, the most demanded service is regulatory compliance service. Customers need expert guidance to run their operations adhering to Conformité Européene (CE) certification.
- Asia-Pacific countries like India consider services as a burden to their operating budgets. Hence, service providers are troubled by customers’ demand for highly competitive price. Manufacturers try to create awareness among customers by mentioning the advantages of preventive maintenance services and other consulting services that will help the customers to improve the way they operate their laboratories.
Predictions for Future
- Multi-vendor service will be in high demand as customers prefer to get consolidated services from a single service provider to reduce their equipment’s downtime.
- Pharmaceutical industry will have more requirements for services and support in order to optimize its operations to increase productivity.
- Competition will be severe in the market as equipment manufacturers are offering competitive prices to expand in the market.
Frost & Sullivan, a global research and growth consulting company also covers various trends in the analytical instrumentation market. We have published several research studies in this area including global laboratory analytical instrumentation market, global process analytical instrumentation market, global analytical x-ray instrumentation market, global analytical instrumentation market in food testing, global analysis of the oil and gas analytical instrumentation market, global analysis of mass spectrometry market and global analysis of the water and wastewater analytical instrumentation market.
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