A high demand for customised instrumentation from end user segments has opened up a huge potential for growth in the laboratory analytical instruments market in India. The laboratory analytical instruments market in the country is expected to be worth US$ 2.37 billion by 2018 from US$ 762.5 million in 2012. The end users for this segment include pharmaceuticals and life sciences, government and academic research institutions, environmental safety, agricultural analytic research, third party and food and beverage testing laboratories, and chemicals and petrochemicals industries amongst others.
Government institutions and research laboratories continue to be the key customers for analytical instrument companies in India. Segments like agricultural analytic research and contract research, however, offer a high potential. Additionally, as conventional customers are continuing with their growth plans, this segment can be expected to see sustained growth.