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Life Science Applications Measured at $45bn

Artificial intelligence, energy challenges, climate change and new blockbuster drugs (e.g., GLP-1) are key drivers for the lab and process market. However, the uncertainty of policies of newly elected administrations favoring deglobalization and deregulation have the potential to cause disruption, both in the analytical instruments industry and macroeconomically. As a result, our outlook for 2025 is

2025 TDA Instrument Industry Outlook Report

Artificial intelligence, energy challenges, climate change and new blockbuster drugs (e.g., GLP-1) are key drivers for the lab and process market. However, the uncertainty of policies of newly elected administrations favoring deglobalization and deregulation have the potential to cause disruption, both in the analytical instruments industry and macroeconomically. As a result, our outlook for 2025 is

IMF Forecasts Stable, “Underwhelming” Growth in October World Economic Outlook

Since April of this year, the International Monetary Fund (IMF) has projected a consistent picture of the global economy, forecasting GDP growth of 3.2% in 2024 and 2025. However, in its October 2024 World Economic Outlook (WEO): Policy Pivot, Rising Threats, the IMF reports revisions to the outlook for a number of economies as well as changes in policy the institution deems necessary for “a smooth landing” and to increase growth potential. 

IMF Projects Converging Growth in July’s World Economic Outlook Update

In its July 2024 World Economic Outlook (WEO) Update: The Global Economy in a Sticky Spot, the International Monetary Fund (IMF) has stuck with its global growth estimates as forecast in April’s WEO: Steady but Slow: Resilience Amid Divergence, with GDP predicted to gain 3.2% in 2024 and 3.3% in 2025. Activity varied across economies at the beginning of 2024, with many countries experiencing higher growth than had been expected, owing in part to increased world trade, attributable to strong technology exports from Asia. Domestic consumption ramped up in China, and the services sector improved in Europe. In contrast, curbed consumption and negative net trade slowed US growth, which had been outperforming expectations. In Japan, a New Year’s Day earthquake caused a short period of supply disruption and the shutdown of automobile production. 

Industry Growth: Q1 2024

For Q1 2024, the Lab Analytical and Life Science markets continued to contract due to softness in CapEx, adjusting for heightened demand over the past few years. Conversely, the Process Analytical market experienced high single-digit growth in the first quarter.

PAI 2024: The Process Analytical Instrument Market Report

PAI/2024 is the latest edition of the PAI report series, providing worldwide product forecasts for 2022-2028 (by year). The product forecasts are shown by major end-user market segment and by geographic region. The report identifies the leading suppliers in each of the technology categories including liquid analyzers, photometers/spectroscopy, oxygen, gas chromatography, mass spectrometers, moisture analyzers, advanced analyzers and other continuous process analyzers. In 2023, the process analytical instruments (PAI) market accounted for $5.9 billion and is experiencing robust growth, fueled by new hydrocarbon processing projects, particularly in Asia-Pacific. Sustainability, carbon capture and alternative fuels continue to be industry drivers for analyzer companies.