SDI Does Complete Revision of Market Estimates in Analytical and Life Science Instruments In Response to COVID-19
SDI (Strategic Directions International) announced it has revised its flagship report, The Global Assessment: The Analytical and Life Science Instrumentation Market in the wake of COVID-19. The firm says the world has been justly preoccupied with the spread of COVID-19 throughout the world and its effects on human health. From a science standpoint, the life science and analytical instrumentation industry has responded to help combat the disease, by supporting research into better diagnosis, treatment, and prevention of the disease. But COVID-19 has affected the market for instruments and related supplies.
SDI’s report contains information on 83 instrument techniques. Mass Spectrometry, Liquid Chromatography, Spectroscopy and Sequencing are among the many instrument techniques covered in the report. For each of these market dynamics, competitive analysis, segmentation, and more are provided. The report contains a 5 Year Forecast and detailed market analysis included in its 1000+ pages.
Although SDi’s Global Assessment Report, published in February, does contain some discussion of the effects of COVID-19 on the life science and analytical instrumentation industry, it’s fair to say that nobody had fully appreciated how the disease, then largely confined to China, would evolve to threaten the world and plunge economies into chaos.
“Although the report still retains incredible value as a benchmark for the base year of 2019, we realized that the forecasts had been relegated to obsolescence, having been overtaken by unforeseen events,” said Mike Tice, Senior Vice President of Business Intelligence. “A few months ago, we set in motion a plan to update these forecasts, and we expect the results to be completed and published this week.”
The good news? — All clients who have already purchased the full version of the report prior to the onset of the disease in the United States, will receive the update gratis.
The firm said market participants and watchers who have not yet purchased the report will now have a chance to do so with a fresh set of data, taking advantage of the adjustments we have made to our models to take into account the effects we’ve researched and quantified so far, including tracking laboratory closures over time, and how we see the market adapting and demand trajectories changing, in both positive and negative ways, over the next five years.
Tice shared some results.
“Although we have not yet compiled the complete final dataset, SDI has shared some general results.”
For the overall market, growth for 2020 will not just be less than originally forecast, but in fact total demand will decline for the year.
This, however, masks some distinct variation across instrumentation categories. “The race to find better ways to detect and treat the disease are leading to rapid uptake of certain life science tools, as well as the automation and sample prep techniques required to make full use of them in the fight against the pandemic,” Tice said.
In contrast, other areas of instrumentation are being severely impacted by the closure of laboratories, and the knock-on effects of the general lockdown, such as declines in oil prices and demand.
These effects are most keenly felt in the market for initial systems. Even labs that have not shut down are more cautious about carrying out capital expenditures.
Looking further ahead, the firm says that the forecast does call for a significant rebound in 2021 and beyond. The decline in 2020 will set such a low bar for many technology groups, that a return to something similar to normalcy will represent excellent growth in relative terms. .
More insights can be found in the Global Assessment report, which can be found at: https://strategic-directions.com/global-assessment-report
About Strategic Directions International
Strategic Directions International (SDI), part of Science and Medicine Group, is the leading business intelligence firm in the highly specialized field of analytical and life science instruments. Its client list includes virtually every major analytical instrumentation company in the United States, Europe, and Japan. Founded in 1981, the company has published hundreds of market reports and provided proprietary consulting services for a multitude of clients.