In the competitive laboratory equipment marketplace, spending on research and development is a key driver – if not the key driver – for growth. Research institutions, be they government funded or private entities, play an important role.
Certain trends in technology development are fairly universal, bridging instrument types and applications. Customers want to save space in their laboratory or work area, or better still want devices that are portable for use in the field. These factors mean that many devices are becoming smaller, and that miniaturizing product lines is a fruitful avenue for many manufacturers to pursue.
However, no instrument manufacturer can afford to become complacent. Technology in this market changes very rapidly, with customers expecting a frequently updated and improved offering from their suppliers. This fact alone can make it difficult for smaller equipment manufacturers to compete. Many smaller, independent firms have been swallowed up by large multi-national companies.
Getting local-for-local support is a big consideration for any plant manager, so it’s imperative now for any credible business to deliver that for the long term.
Todd Newell, Product Marketing Manager, Servomex Americas
According to the report US Analytical Instruments Market Forecast by market research consultancy RNCOS, recent years have seen a strong pattern of demand for analytical instruments and automation products worldwide. The US has played a leadership role in further strengthening the market potential, the report suggests. Leading companies have seen increased revenues, marked by factors such as high investments, strict regulations and compliances, and product innovations.
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