26 Nov 2012, BioSpectrum Bureau , BioSpectrum
Singapore: China is soon expected to become a sales hub for lab analytical instruments as international companies speed up localized manufacturing in tandem with the country's economic growth. The use of analytical lab instruments has further increased, with government investments enabling many universities and colleges in China to add new analytical courses to their curriculum.
Recent analysis from Frost & Sullivan, Chinese Laboratory Analytical Instrumentation Market, finds that the market earned revenues of over $1.51 billion in 2011 and estimates this to reach $3.22 billion in 2018 at a compound annual growth rate of 11.4 percent.
"The Chinese government is expected to increase support in food safety, public health, and technology science, spurring adoption of laboratory analytical instruments," noted Frost & Sullivan Research Analyst Leo Jia.
Moreover, demand for high-performance liquid chromatographs and mass spectrophotometers from the environment and food testing industries presents the market with significant growth opportunities. The market's sales will also get a boost from the pharmaceutical industry's requirements for lab analytical instruments for conducting new drug research.
The development of hyphenated technology will further broaden the market base. MS, combined with spectrometer technologies instrumentation such as liquid chromatograph, gas chromatograph, and ion chromatograph, is used for elemental analysis in the food testing industry. The high sensitivity and performance of the technology will popularize it in other end-user industries as well.
"OEMs must provide workflow solutions that include the instrument, along with consumables, training, repair, and after-sales services," noted Jia. "Location-based factories and service centers are must-haves for international companies."