Biotechnology Instruments Market Worth $106.75 Billion By 2028
Biotechnology Instruments Industry Overview The global biotechnology instruments market size was valued at USD 41.14 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.66% from 2021 to 2028. The high adoption of point-of-care diagnostic devices is a key factor driving the market. Continuous advancements in R&D have enhanced the capabilities of point-of-care (POC) testing systems. Novel equipment offer a broad menu of tests, which can be used in multiple hospital settings. Novel POC devices allow real-time transmission of test results to the electronic medical record of patients for easy review from physicians. The systems have also been designed in a way that they can easily comply with changes in laboratory regulations. A rise in the prevalence of chronic disorders, including infectious diseases (such as COVID-19), cardiovascular disorders, diabetes, cancer, and others, is also expected to propel the market growth. Gather more insights about...