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Analytical Laboratory Instruments Manufacturing Set to Surge, Anticipated to Reach $82.5 Billion by 2028 According to BCC Research

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Revolutionizing Decision-Making: Analytical Instruments Drive Swift and Informed Choices Across Industries. Growing Demand in Life Sciences and Miniaturization Propels Global Market Expansion.

BOSTON, Feb. 13, 2024 /PRNewswire/ — “According to the latest BCC Research study, the demand for Analytical Laboratory Instruments Manufacturing: Global Markets is estimated to increase from $60.9 billion in 2023 to reach $82.5 billion by 2028, at a compound annual growth rate (CAGR) of 6.3% from 2023 through 2028.”

The comprehensive scope of the report encompasses a detailed analysis of analytical instruments employed in elemental, separation, and molecular analysis. Delving into various end-user industries, including life science, chemical/petrochemical, oil & gas, food testing, and others such as environmental testing, materials, and forensic science, the report offers market size estimations in terms of value ($ millions). Commencing from the base year 2022, the market forecasts extend through 2028. The study further explores growth perspectives across key regions, namely North America, Europe, Asia-Pacific, and RoW, incorporating major countries in each region to elucidate regional growth prospects. Additionally, the report features a dedicated section spotlighting the sustainability landscape of the global analytical laboratory instruments market, evaluating companies’ performance based on various ESG (Environment, Social, and Governance) parameters.

The escalating demand for analytical laboratory instruments is evident in the chemical and petrochemical sector, driven by a strategic response to diminishing fossil fuel reserves. With a heightened focus on increasing production in these industries, the adoption of analytical instruments has become widespread. Furthermore, the pharmaceutical manufacturing sector in India is undergoing a period of remarkable growth, presenting exciting new opportunities for the analytical laboratory instruments market. The surge in the pharmaceutical industry not only reflects increased manufacturing activities but also underscores the need for precise analytical tools to ensure product quality and compliance. Moreover, the global market landscape is poised for transformative changes with the integration of advanced technologies such as nanotechnology and artificial intelligence. This convergence, along with the escalating demand for portable analytical instruments, is set to redefine the game in the analytical laboratory instruments market, paving the way for innovation and efficiency across diverse industries.

Discover the comprehensive insights and strategic implications of this latest research study on the Analytical Laboratory Instruments Manufacturing market. Click here to Learn More.

Key Drivers of Analytical Laboratory Instruments Manufacturing Global Markets

High Growth in the Biopharmaceutical Industry: The biopharmaceutical industry is emerging as a key driver for the analytical laboratory instruments market, experiencing robust growth. As advancements in biotechnology continue to accelerate, there is an increasing demand for sophisticated analytical tools to support the development and manufacturing processes in this sector. Analytical instruments play a crucial role in ensuring the quality, safety, and efficacy of biopharmaceutical products, driving the market forward.

Increasing R&D Spending by Companies: A significant catalyst propelling the analytical laboratory instruments market is the substantial rise in research and development (R&D) investments by companies across various industries. As businesses strive to stay competitive in a rapidly evolving landscape, heightened R&D spending underscores the importance of innovation and technological advancement. The allocation of resources towards research activities fuels the demand for analytical laboratory instruments, as companies seek cutting-edge solutions to enhance their product development and quality control processes. This trend not only stimulates market growth but also reflects a commitment to staying at the forefront of scientific and technological progress.

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Report Synopsis 

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$57.4 billion

Market Size Forecast

$82.5 billion

Growth Rate

CAGR of 6.3% for the forecast period of 2023-2028

Segment Covered

Types, End-User Industry, and Geographic Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World

Countries covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, China, India, Japan, Australia, Africa, and South America

Key Market Drivers

•  High growth in the biopharmaceutical industry

•  Increasing R&D spending by companies

Analytical Laboratory Instruments Manufacturing Global Markets Segmentation:

By Type Segmentation

In the realm of analytical laboratory instruments manufacturing, segmentation by type delineates distinct categories catering to diverse analytical needs. Elemental Analysis Instruments, comprising technologies like atomic absorption spectrometers, mass spectrometers, and X-ray fluorescence analyzers, specialize in discerning the composition and structure of elements within a sample. Molecular Analysis Instruments, including nuclear magnetic resonance spectrometers, infrared spectrometers, and chromatographs, focus on unraveling the molecular structure and properties of substances. Separational Analysis Instruments, encompassing tools such as centrifuges, electrophoresis systems, and filtration devices, excel in segregating components based on their physical or chemical properties. Lastly, the category of Other Instruments encompasses versatile tools like microscopes, balances, and pH meters, which don’t neatly fit into the preceding classifications. This comprehensive segmentation ensures a nuanced understanding of the varied instruments essential for analytical processes across laboratories.

By Application Segmentation:

Application segmentation in the realm of analytical laboratory instruments encompasses a diverse array of sectors and industries, each leveraging these instruments for specific purposes. In the life sciences sector, including biotechnology, pharmaceuticals, medical diagnostics, and genetic engineering, analytical laboratory instruments play a pivotal role in studying biological molecules, cells, tissues, and organisms. The chemical/petrochemical and oil & gas industry relies on these instruments for applications such as chemical synthesis, quality control, environmental monitoring, and exploration and production, enabling the analysis of the composition, purity, and properties of chemicals, fuels, and other materials. In the realm of food testing, instruments contribute to food safety, nutrition, and quality assurance by detecting contaminants, allergens, additives, and nutrients in food products. Water and wastewater applications involve the use of analytical instruments for tasks such as water treatment, measuring water quality, and managing wastewater by analyzing physical, chemical, and biological parameters. Lastly, the ‘Other’ category spans applications in education, research, and forensic science, showcasing the versatility of analytical laboratory instruments across varied domains. This segmentation provides a comprehensive overview of the instrumental role these devices play in addressing the diverse needs of different industries.

This report on Analytical Laboratory Instruments Manufacturing Global Markets provides comprehensive insights and analysis, addressing the following key questions:

1.  What is the projected market size and growth rate of the market? 
     The global analytical laboratory instruments market was valued at $57.4 billion in 2022 and will reach $82.5 billion by 2028.

2.  What are the key factors driving the growth of the market?
     The analytical laboratory instruments market is growing rapidly due to several factors, including increasing demand from pharma and biopharma industry and the increasing adoption in chemical and      petrochemical industry.

3.  What segments are covered in the market?

TypeApplicationRegion

4.  By application, which segment will dominate the market by 2028?
     Life science applications dominated the market and are expected to reach $29.2 billion by 2028.

5.  Which region has the highest market share in the market?
     North America holds the highest market share in the market in terms of region.

Some of the Key Market Players Are:

AGILENT TECHNOLOGIES INC.AMETEK INC.AVANTOR INC.BRUKERDANAHER CORP.HITACHI LTD.JEOLLECO CORP.MALVERN PANALYTICAL LTD.METTLER-TOLEDOPERKINELMER INC.SHIMADZU CORP.THERMO FISHER SCIENTIFICWATERS CORP.ZEISS GROUP

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with info@bccresearch.com

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts’ goal is to help you make informed business decisions, free of noise and hype.

Contact Us

Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

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SOURCE BCC Research LLC

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BASX Hosts Ribbon-Cutting Ceremony for New State-of-the-Art Weld Shop

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REDMOND, Ore., Sept. 19, 2024 /PRNewswire/ — BASX (“BASX” or the “Company”), a leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, and custom HVAC systems, is proud to announce the official ribbon-cutting ceremony for its newly completed 36,000-square-foot weld shop. The Redmond Chamber of Commerce performed the ribbon cutting on September 18th, 2024, at BASX headquarters.

The weld shop will create significant job opportunities in the Central Oregon region, with the capacity to fill an additional 30 welding positions. Positions range from entry-level to experienced roles, with professional opportunities in various growing departments within the Company.

“This new facility is a major investment not just in our company, but in the future of Central Oregon,” said Dave Benson, AAON VP and BASX President. “We can now deliver even higher levels of quality and efficiency while providing more job opportunities for the community. We’re proud to support local manufacturing growth and look forward to seeing the impact this expansion will have on both BASX and the region.”

The new shop marks a major expansion in the Company’s production capabilities, introducing state-of-the-art welding technology within a climate-controlled environment. Equipped with advanced air filtration systems, including an AAON make-up air unit and multiple air scrubbers, the shop ensures exceptional air quality for its workers. The space also features two 5-ton overhead cranes and six ½-ton cantilever jib cranes, allowing for efficient movement of materials across the facility.

A key highlight of the facility is its cutting-edge tube laser, capable of precision cutting and profiling round and square tubes, as well as C-channel and I-beam profiles up to 27 feet in length. Additionally, a 75-foot-long dual-zone robotic welding cell is scheduled to be installed and operational in early 2025, enabling the welding of large subassemblies up to 10 tons.

The shop’s innovative capabilities will support the Company’s growth and solidify its position for ongoing expansion. In addition to the 30 new welding jobs, BASX is actively hiring across various departments to support its continued success. To learn more about available positions and apply, visit the BASX careers page at www.basxsolutions.com/careers.

About BASX
Founded in 2014 in Central Oregon, BASX is an industry leader in the manufacturing of high-efficiency data center cooling solutions, cleanroom systems, custom HVAC systems, and modular solutions. Acquired by AAON in 2021, BASX continues to focus on quality, innovation, and state-of-the-art technology. The Company is proud to display the Made-in-America emblem on all its products. For more information, please visit www.basx.com.

Contact Information
Christina Lattanzio
Marketing Manager
(918) 508-9272
Email: Marketing@basx.com

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SOURCE AAON

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NASA Sets Coverage for Astronaut Tracy C. Dyson, Crewmates Return

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WASHINGTON, Sept. 19, 2024 /PRNewswire/ — NASA astronaut Tracy C. Dyson, accompanied by Roscosmos cosmonauts Nikolai Chub and Oleg Kononenko, will depart from the International Space Station aboard the Soyuz MS-25 spacecraft, and return to Earth.

Dyson, Chub, and Kononenko will undock from the orbiting laboratory’s Prichal module at 4:37 a.m. EDT Monday, Sept. 23, heading for a parachute-assisted landing at 8 a.m. (5 p.m. Kazakhstan time) on the steppe of Kazakhstan, southeast of the town of Dzhezkazgan.

NASA’s live coverage of return and related activities will stream on NASA+ and the agency’s website. Learn how to stream NASA content through a variety of platforms, including social media.

A change of command ceremony also will stream on NASA platforms at 10:15 a.m. Sunday, Sept. 22. Kononenko will hand over station command to NASA astronaut Suni Williams for Expedition 72, which begins at the time of undocking.

Spanning 184 days in space, Dyson’s mission includes covering 2,944 orbits of the Earth and a journey of 78 million miles. The Soyuz MS-25 spacecraft launched March 23, and arrived at the station March 25, with Dyson, Roscosmos cosmonaut Oleg Novitskiy, and spaceflight participant Marina Vasilevskaya of Belarus. Novitskiy and Vasilevskaya were aboard the station for 12 days before returning home with NASA astronaut Loral O’Hara on April 6.

Kononenko and Chub, who launched with O’Hara to the station on the Soyuz MS-24 spacecraft last September, will return after 374 days in space and a trip of 158.6 million miles, spanning 5,984 orbits.

Dyson spent her fourth spaceflight aboard the station as an Expedition 70 and 71 flight engineer, and departs with Kononenko, completing his fifth flight into space and accruing an all-time record 1,111 days in orbit, and Chub, who completed his first spaceflight.

After returning to Earth, the three crew members will fly on a helicopter from the landing site to the recovery staging city of Karaganda, Kazakhstan. Dyson will board a NASA plane and return to Houston, while Kononenko and Chub will depart for a training base in Star City, Russia.

NASA’s coverage is as follows (all times Eastern and subject to change based on real-time operations):

Sunday, Sept. 22
10:15 a.m. – Expedition 71/72 change of command ceremony begins on NASA+ and the agency’s website.

Monday, Sept. 23
12:45 a.m. – Hatch closing coverage begins on NASA+ and the agency’s website.

1:05 a.m. – Hatch closing

4 a.m. – Undocking coverage begins on NASA+ and the agency’s website.

4:37 a.m. – Undocking

6:45 a.m. – Coverage begins for deorbit burn, entry, and landing on NASA+ and the agency’s website.

7:05 a.m. – Deorbit burn

8 a.m. – Landing

For more than two decades, people have lived and worked continuously aboard the International Space Station, advancing scientific knowledge, and making research breakthroughs that are not possible on Earth. The station is a critical testbed for NASA to understand and overcome the challenges of long-duration spaceflight and to expand commercial opportunities in low Earth orbit. As commercial companies focus on providing human space transportation services and destinations as part of a robust low Earth orbit economy, NASA is focusing more resources on deep space missions to the Moon as part of Artemis in preparation for future human missions to Mars.

Learn more about International Space Station research and operations at:

https://www.nasa.gov/station

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SOURCE NASA

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Global claims guidance leader EvolutionIQ joins as CALI’s inaugural Life Partner

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — US-based EvolutionIQ, a global leader in claims guidance technology, has signed on as the Council of Australian Life Insurers (CALI)’s first Life Partner as part of its corporate partner program.

The CALI Partner Program is designed to foster collaboration and create a connected ecosystem of industry experts.

CALI Life Partners share the industry’s mission to make life insurance accessible, understandable and trusted. They are companies that support Australian life insurers to help Australians and their families have peace of mind about their future so they can live in the most healthy, confident and secure way.

“We are pleased to welcome EvolutionIQ as CALI’s inaugural Life Partner. The CALI Partner Program plays an important role in connecting our members to the latest innovators, like EvolutionIQ, that can move their businesses forward,” said CALI CEO Christine Cupitt.

“We want to work closely with each of our partners to strengthen and support the life insurance industry to deliver better customer experiences for millions of Australians on their best and worst days.”

Headquartered in New York, EvolutionIQ has expanded significantly since 2019. Its clients include major insurance carriers such as Sun Life, Reliance Matrix and Principal Financial. Their AI-powered software makes insurance claims processes more personalised, fair and cost-effective so that more people can recover faster and return to work.

“We are committed to supporting the Australian life insurance ecosystem and being a CALI Life Partner enables us to specialise our products to meet the dynamic needs of the Australian markets,” said EvolutionIQ’s Co-CEO, Mike Saltzman.

“Our partnership with CALI means we can contribute to and shape customer experiences in Australia, and ultimately help more people return to health and a livelihood sooner.”

About EvolutionIQ
EvolutionIQ pioneered Claims Guidance in 2019. Its explainable AI guides insurance claims professionals to their highest potential impact claims, improving the claimant experience and delivering better claim outcomes to claimants, carriers and their customers. EvolutionIQ serves the group disability, individual disability and workers’ compensation markets worldwide. EvolutionIQ’s AI native products have been adopted by 70% of the top 15 U.S. disability carriers and a growing list of workers’ compensation carriers. The New York-based company employs 185 staff across the United States, Europe and Australia. For more information, visit evolutioniq.com and follow the company on LinkedIn.

About CALI
We support Australians to make informed choices about their future and help them live in a healthy, confident and secure way over their lifetime.

Our members’ products and services give people peace of mind when making important decisions and provide a financial safety net during life’s biggest challenges.

We advocate for national policy settings that expand Australians’ access to the life insurance protection that suits them when they need it most.

CALI represents all life insurers and reinsurers in Australia. The Australian life insurance industry is today a $26.4billion industry, employing thousands of Australians and paying billions of dollars of benefits each year.

To view CALI’s corporate partners visit www.cali.org.au/about-us/#our-partners

For more information, visit www.cali.org.au

Media Contact
Jason Kapler
Vice President of Marketing
EvolutionIQ
(917) 740-5608
Press@evolutioniq.com

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SOURCE EvolutionIQ

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