Healthcare Analytical Systems and Instruments Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Spectroscopy (UV spectroscopy, Mass Spectroscopy, Atomic spectroscopy, Others), Chromatography (Liquid Chromatography, HPTLC, Gas Chromatography, Thin-layer Chromatography (TLC),  Others), Centrifuges (Analytical ultracentrifuges, Gas centrifuges, Laboratory centrifuges, Others), Electrophoresis (Capillary Electrophoresis, Conventional Electrophoresis), Microscopy, Flow Cytometry,  Cell Counting instruments, Western Blotting, PCR, Incubators, Sterilization instruments, Freezers,  Colorimeters), By End User (Diagnostic Laboratories, Research Laboratories, Academic Institutes), and Region  

Healthcare Analytical Systems and Instruments Market size was estimated at US$ x million in 2022 and is poised to grow at a CAGR of x% from 2023-2029. Healthcare analytical systems and instruments are devices or tools required to confirm the compounds and forms related to diseases with the highest potential sensitivity, quantitative performance, specificity, least invasiveness, and affordability. Different types of analytical tools are used in the healthcare industry like chromatography, electrophoresis, PCR, flow cytometers, and others. Medical device companies constantly innovate and leverage cutting-edge technologies like IoT, AI, and analytics to achieve real-time data collecting and produce insights to improve clinical outcomes and keep up with the market demand as a result of digitization, consumerization, and the shifting technology landscape.

The increased research activities in developing countries coupled with stringent regulatory standards for healthcare procedures and devices are expected to drive the market. According to WHO, around 2 million different kinds of medical devices categorized into 7000 groups. Moreover, increased development and usage of smart wearables, and medical sensors and shifting healthcare to a more conventional personalized healthcare management system (HMS) have provided a large opportunity for expansion of the healthcare analytical systems and instruments market. Furthermore, plans are being implemented by governments all around the world to facilitate the usage of healthcare analytics. For instance, the Centres for Medicare & Medicaid Services (CMS) launched a National Quality Strategy for broadening the requirements for sharing, receiving, and using digital data to support data standardization and interoperability. But the higher cost of analytical solutions along with the lack of technical expertise and assistance hinder the growth of the market.

Furthermore, the increasing cases of data breaches are possessing a threat to the market owing to the misuse of patient’s health records. As reported by many practitioners, about 157.40 million individuals affected by healthcare breaches from 65 countries. However, with the expansion of the healthcare industry and increased demand for a system for proper management and application of health data, increased investments by the government and venture capitalist firms are leading to the expansion of the market and are further expected to burgeon in the forecasted years.

Healthcare Analytical Systems and Instruments Market Key Developments

• In May 2023, Multiplan Corporation, a leading provider of technology and data-enabled cost-management, payment, and revenue integrity solutions acquired Benefits Science LLC, a next-generation data and advanced analytics company.
• In June 2022, Francisco Partners, a leading global investment firm acquired healthcare data and analytics assets part of IBM and renamed as Merative.