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Analytical, life sciences and laboratory equipment market likely to bounce back for FY 2022-23: Gautam Rajan

Yash Ved, Mumbai
Monday, July 26, 2021, 08:00 Hrs  [IST]

The market for analytical, life sciences and laboratory equipment is likely to bounce back and grow significantly, especially in fiscal 2022-23, stated Gautam Rajan, president, Indian Analytical Instruments Association (IAIA).

Rajan added that the analytical, life sciences and laboratory equipment industry will invest in greater instrumentation and automation to meet its testing, quality assurance and research needs.

“Government spending on research should also see a significant increase in that fiscal, once the finances of the government stablise. The analytical instruments industry has in the last year adapted to meet the constraints in the working environment and developed new tools and strategies to serve its customers,” stated Rajan.

IAIA aims to provide the international forum for advancing innovation and communication of best practice in all forms of impact assessment so as to further the development of local, regional, and global capacity in impact assessment.

"The analytical instruments industry has been significantly affected by Covid-19. Even more impacted were our customers, who did not get easy and quick access to our support services, except in emergency situations. The major challenge is to meet customer need for better solutions to application complexities, technical support and quality,” added Rajan.

The global market for life sciences and analytical instruments is expected to increase to between US$ 55 billion to US$ 75 billion in 2022, according to various market surveys and estimates.

IAIA aims to be the premier body working towards policy making and planning thus promoting welfare by integrating the entire analytical fraternity.

IAIA, an exclusive professional body, was formed in 1996 with a vision to promote, encourage and develop the growth of the analytical instruments industry. The primary objective is to create and share knowledge leading to better relationships between all players. IAIA has organised the analytics Anacon India Trade Show and Conference in association with Messe Munchen of Germany. It has over 80 members which include companies like Thermo Fisher Scientific, Agilent, Waters, Shimadzu, Perkin Elmer, Cryogen and Instruments, Metrohm, Skytech, Medispec, Spinco Biotech, Toshvin Instruments, Anamed Instruments, Indtech Instruments, to name a few.

 

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