by Freedonia Focus Reports Team
October 30, 2024
Inclusion of such tech innovations as AI, wireless connectivity to support value gains
Cleveland OH, October 30, 2024 — US demand for analytical instruments is forecast to grow 3.1% per year in nominal terms through 2028, according to Analytical Instruments: United States, a report recently released by Freedonia Focus Reports. Suppliers are projected to benefit from growth in research and development (R&D) expenditures and manufacturers’ shipments, including transportation equipment, beverages, chemicals, electronics, machinery, and pharmaceuticals. Technological innovations will continue to boost demand for new instruments capable of providing higher quality data. Suppliers are expected to benefit as they increasingly equip analytical instruments with artificial intelligence (AI) and machine learning (ML) platforms to improve instrument performance and productivity for the end user. In addition, adoption of instruments that feature wireless network connectivity (which enables the inclusion of features such as remote monitoring and control) is predicted to expand.
However, faster gains in value terms will be prevented by import competition from countries with lower production costs, including imports of analytical instruments as well as imports of products requiring the use of analytical instruments during research and production. In addition, the reluctance of government entities, nonprofit institutions, and corporations to spend more funds on procuring instruments for R&D and production process and testing improvements will limit faster growth. Furthermore, product durability will limit replacement sales.
These and other key insights are featured in Analytical Instruments: United States. This report forecasts to 2028 US analytical instruments demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2013 to 2023.
Analytical instruments consist of devices used for scientific research and industrial processes. Excluded from the report are diagnostic and therapeutic equipment, gauges and counting devices, search and navigation equipment, commercial and household appliance controls, irradiation equipment, watches and clocks, and optical instruments and lenses. Re-exports of analytical instruments are excluded from demand and trade figures.
More information about the report is available at:
https://www.freedoniagroup.com/freedonia-focus/analytical-instruments-united-states-ff80013.htmAbout Freedonia Focus Reports
Each month, The Freedonia Group publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Machinery & Equipment reports can be purchased at Freedonia Focus Reports.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:Provide the following details to subscribe.