Lawrence S. Schmid

Spectroscopy techniques are an important facet of the laboratory analytical and life science instrument industry, which continues to expand as its analytical requirements migrate across industries and geographic regions. Overall industry growth has been in the 6-8% range for the last few years, which is a sign of both its maturity and its stability. The demands of the life science marketplace, environmental concerns, and the search for new materials are important driving forces. Likewise, the shifting market focus from North America and Europe to Asia is changing the face of the industry. It is expected that 2008 will be a good year for the industry despite the likely economic slowdown in North America and Europe.

Industry expert Lawrence Schmid presents his annual overview of the market in the laboratory analytical and life science instrument industry. Strong growth in Asia and continued growth in North America and Europe are promising signs for the industry in 2007 and beyond.

Realistically, 2005 was a good year for the laboratory analytical and life science instrument industry. Although growth has moderated from that experienced in the 1990s, a general rebound in worldwide industrial demand, and continued spending for life science and strong growth in Asia and North America drove instrument systems and aftermarket sales. Similar to last year, 2006 should be a year of healthy sales growth as global economic conditions support continued market expansion.

Overall, 2004 was a good year for the laboratory analytical and life science instrument industry. A rebound in industrial demand, steady increases in life science spending, and strong growth in Asia and North America drove instrument systems and aftermarket sales. Similar to last year, 2005 should bring healthy sales growth as many of the end-market and regional drivers of last year continue to fuel demand.

This year will resemble last in terms of market growth, with a projected continuation of trends seen in 2003.

This article looks at estimated growth in spectroscopy sectors for 2003.