Mid-year forecast for analytical and life science instrumentation

Mid-year forecast for analytical and life science instrumentation  

Data taken from Instrument Business Outlook (IBO):  

IBO published a mid-year forecast for the analytical and life science instrumentation industries in August 2020, and we are delighted to share a summary of the findings. 

The original forecast for 2020 was published in January, and IBO has painstakingly reviewed the changes since the onset of the global coronavirus pandemic and the havoc it has caused for economic performance globally. 

Originally expecting to see overall market growth of more than 5% for 2020, IBO has revised this forecast to an overall decline for the year. IBO is clear to point out that some segments of the industry are thriving as a result of COVID-19-related work, and this particularly applies to technologies such as polymerase chain reaction (PCR), nucleic acid preparation kits and sequencing.  

IBO expects both North America and Europe to see small positive growth in 2020, albeit at a far lower rate than originally forecast (see graphic) and China will remain flat, having originally been expected to outperform most other geographies. Japan, India, LATAM and APAC (non-China) are all expected to experience single-digit declines for instrument sales. 

The end-market breakdowns in the mid-year forecast tell the story of 2020, with hospital and clinical labs skewing the applied market data to outperform other segments – rising sharply to double-digit growth in 2020.  Conversely industrial markets decline dramatically by over 6% year-on-year, while pharma and biotech will end the year with almost static performances. 

Graph showing estimates of instrument sales in 2020

Instrument Business Outlook provides insight and reporting on the analytical and life science instrumentation markets. Annual subscriptions are available. Further market forecast information is available from IBO’s publisher, SDi. 

The Scott Partnership provides support to global businesses operating in the life science and analytical instrumentation markets, and can help you to penetrate global and local markets, including China via our international footprint. Please contact us for information or to discuss your challenges. 

August 26th 2020 |

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About the Author: Kath Darlington

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