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Theta Reports
Biotechnology Instrumentation
Report No. 960
September 1999
Copyright©1999
By
PJB Medical Publications Inc.
1775 Broadway, Suite 511
New York, NY 10019
Telephone: (212) 262-8230
Telephone: (800) 995-1550
Fax: (212) 262-8234
LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: this report is
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all rights reserved. no part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher.
Report No. 960
Theta Reports
September 1999
1775 Broadway, Suite 511
New York, NY 10019
Phone: (212) 262-8230
Fax: (212) 262-8234
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Biotechnology Instrumentation
Table of Contents
1. Overview
1.1 Statement of Report
1.2 About This Report&
1.3 Scope of the Report
1.4 Objectives
1.5 Methodology
1.6 Executive Summary
2. Introduction
2.1 The Biotechnology Industry
2.2 The Drivers of the Biotech Industry
2.3 Biotechnology Instrumentation Outlook
3. Market Segment Analysis: Size, Growth, Share
3.1 HPLC
3.2 Electrophoresis
3.3 Membranes and Filters
3.4 Sequencing and Synthesizing
3.5 Thermocyclers PCR
3.6 Mass Spectrometry
4. Equipment Market
4.1 HPLC
4.2 Electrophoresis
4.3 Filters and Membranes
4.4 Sequencers and Synthesizers
4.5 Thermocyclers
4.6 Mass Spectrometry
5. Industry Issues
5.1 Moderators of Growth
5.2 Financing
5.3 Technological Innovation
5.4 Government Funding
5.5 R&D Expenditures
5.6 Healthcare Spending
6. Business Trends In the Industry
6.1 Biotech Industry Trends
6.2 Pharmaceutical Industry Trends
6.3 Acquisitions, License Agreements, Partnerships
7. Important Technology Areas
7.1 Protein Sequencing
7.2 DNA Sequencing
7.3 The Human Genome Project
7.4 Liquid Phase Chromatography
7.5 Polymerase Chain Reaction (PCR)
7.6 Capillary Electrophoresis
7.7 Proteomics
7.8 The Use of Mass Spectroscopy in Sequencing
7.9 High Throughput Organic Synthesis
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8. Corporate Profiles
8.1 Perkin-Elmer Corp.
8.2 Millipore Corporation
8.3 Biosearch Technologies, Inc.
8.4 PerSeptive Biosystems
8.5 Amersham Pharmacia Biotech, Ltd.
8.6 Transgenomic Corporation
8.7 Japan Spectroscopic Co., Ltd. (JASCO)
8.8 Shimadzu Scientific
8.9 Beckman Coulter Instruments
8.10 Gilson Corporation
8.11 Thermo Quest: Finnigan
8.12 Dionex
8.13 Waters Corporation
8.14 Hewlett-Packard Corporation
8.15 Bio-Rad Laboratories
8.16 Pall Corporation
8.17 Varian Corporation
8.18 Genomic Solutions
8.19 Bruker Daltonics
8.20 IonSpec Corporation
8.21 AMD Intectra Corporation
8.22 Hitachi Instruments
8.23 JEOL USA
8.24 Li-Cor Corporation
8.25 Sartorius Corporation
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9. Market Trends and Forecasts
9.1 Trends in Chromatography
9.2 Trends in DNA Sequencing
9.3 Trends in Electrophoresis
9.4 Trends in Mass Spectrometry
10. Corporate Directory
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List of Tables
Table 1 Top Biotechnology Companies by Market Capitalization
Table 2 Top Pharma Companies by Market Capitalization
Table 3 The Overall Biotechnology Instrumentation U.S. Market in
1998
Table 4 Ten Largest Biotechnology Instrumentation Companies
Worldwide 1999
Table 5 Total 1998 Estimated Sales in $Millions for HPLC Systems and
Components
in the U.S. for the Next Five Years
Table 6 Chromatography Instrument Market: HPLC Systems Major
Companies 1998
Table 7 Chromatography Instrument Market: HPLC Columns Major
Companies 1998
Table 8 Chromatography Instrument Market: HPLC Detectors Major
Companies 1998
Table 9 Chromatography Instrument Market: LPLC Systems Major
Companies 1998
Table 10 Chromatography Instrument Market: LPLC Detectors Major
Companies 1998
Table 11 Chromatography Instrument Market: LPLC Reagents Major
Companies 1998
Table 12 Total 1998 Estimated Sales in $Millions for Electrophoresis
Systems and
Components in the U.S. for the Next Five Years
Table 13 Electrophoresis Instrument Market: Apparatus Major
Companies 1998
Table 14 Electrophoresis Instrument Market: Gel and Reagents Major
Companies 1998
Table 15 Capillary Electrophoresis Instrument Market Apparatus and
Reagents Major Companies 1998
Table 16 Total 1998 Estimated Sales in $Millions for Membrane and
Filter Systems and Components in the U.S. for the Next Five Years
Table 17 Filtration and Membrane Market Equipment Major
Companies 1998
Table 18 Filtration and Membrane Market Consumables Major
Companies 1998
Table 19 Total 1998 Estimated Sales in $Millions for Sequencing and
Synthesizing
in the U.S. for the Next Five Years
Table 20 Peptide Sequencer Market Major Companies and Estimated
Market Share 1998
Table 21 Peptide Synthesizer Market Major Companies and Estimated
Market Share 1998
Table 22 Nucleic Acid Sequencer Market Major Companies and
Estimated Market Share 1998
Table 23 Nucleic Acid Synthesizer Market Major Companies and
Estimated
Market Share 1998
Table 24 Market Size Estimates of the U.S. Thermocycler Segment for
the Next Five Years 1998- 2002
Table 25 Thermocycler Market Major Companies 1998
Table 26 Market Size Estimates of the U.S. Mass Spectrometry
Segment for the
Next Five Years 1998-2002
Table 27 Mass Spectrometry Market Major Companies in LC MS and
Estimated
Market Share 1998
Table 28 HPLC Components from Hitachi
Table 29 Manufacturers of Mass Spectrometry Instruments
Table 30 Private Funding Levels for the Biotechnology Segment
Table 31 U.S. Government NIH Research Budget
Table 32 Amersham Pharmacia Biotech 1998 Sales Revenues by
Product Area
Table 33 Three Year Sales Results for Bio-Rad’s Divisions
Table 34 Geographic Sales Results for Bio-Rad’s Divisions
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Overview
1.1 Statement of Report
The purpose of this report is to describe the specific market
segment of the analytical instrumentation market called
biotechnology instrumentation. Within this area, the report
covers those segments which are highly active in terms of
innovation and growth. Specifically, the biotechnology
instrumentation report examines the markets for High
Performance Liquid Chromatography (HPLC),
electrophoresis, filters and membranes, sequencers and
synthesizers for proteins and nucleic acids (DNA), and mass
spectroscopy.
1.2 About This Report
This report deals with the laboratory analysis of materials in
the biotech, pharmaceutical, and food and beverage
industries. It specifically selects those areas which currently
have shown the most changes in instrumentation hardware,
novel analytical methods and growth in reagents and
accessories.
The emphasis in this report is on those companies and
products which are actively developing and marketing
biotechnology instrumentation and reagents and supplies for
performing laboratory analytical tests in an industrial or
research setting. The reader should consult other Theta
reports for a detailed discussion of the important individual
market segments which are related to the biotechnology
market such as Bioinformatics (Report BS973C), Biosensors
(Report 807), and the Biotechnology Research Reagents
Markets (Report 767).
1.3 Scope of the Report
This report concentrates on the biotechnology instrumentation
market segment in the U.S., primarily analytical instruments
used in the pharmaceutical and biotech sectors. Section 3
describes the market size, growth rates, and major corporate
players for both instruments and reagents, controls, and
consumables used in this area. Section 4 focuses on a
description of the instruments, reagents and supplies marketed
by major companies in this segment.
The report does not cover all types of analytical
instrumentation that can possibly be used in biotechnology
applications, since that would require an encyclopedic review
of virtually every known analytical technique, an effort well
beyond the scope of this report.
The report touches on specialty testing areas in biochemical
analyses, since these segments are frequently a part of the
overall analytical focus of companies marketing general
laboratory automation equipment. However, no effort is made
to quantitate the size of this broader market. The reader is
referred to other Theta reports, such as Biotechnology
Research Reagents Markets (Report 767),
Pharmacogenomics: New Approach to Targeting Therapies
(Report BS953C), and Filtration Markets (Report 600), for a
more detailed treatment of these areas.
The report does mention companies who market and sell
spectroscopy instruments and equipment performing
fluorescence, FTIR (Bio-Rad Digilab, Mattson, Nicolet, Pike
Technologies), arc spark/laser spark (Baird, Hilger, Spectro,
ARL), atomic absorption (Spectrolab), UV-VIS-NIR
(Analytical Spectral Devices), or X-ray (ASOMA, Bruker
AXS, Oxford, Spectrace, Veeco). However, these
companies are only reported en passant, since they are not
direct major players in the U.S. biotechnology instrumentation
market products (HPLC, electrophoresis, membranes and
filters, mass spectroscopy) selected for this report.
This report does not cover disposable plastic supplies for the
analytical laboratory, microtiter devices or automatic pipetting
machines. All of these subjects are treated thoroughly in other
Theta reports.
This report does not cover automatic or manual pipetting,
electronic pipettes, repetitive pipettes, disposable tips,
peristaltic pumps, or labware.
This report discusses business trends (Section 6), technology
trends (Section 7) and developing areas of biotechnology
instrumentation (Section 5).
This report does not discuss combinatorial chemistry
techniques in detail nor analytical laboratory robotics and
automation. The former subject is explained briefly in Section
7.9, High Throughput Organic Synthesis, and the latter is
covered in Theta report 771.
Although this report mentions recombinant proteins in passing,
as well as techniques such as PCR, no extensive or in-depth
treatment of this subject is presented. Such a discussion is
outside the scope of this report.
1.4 Objectives
This report reviews the biotechnology instrumentation market
in the U.S. Particular attention is paid to those areas of
analytical technology which are showing the greatest growth
or the most innovation. The market can be divided, somewhat
arbitrarily, into six broad areas: HPLC, Electrophoresis,
Filters and Membranes, Sequencers and Synthesizers,
Thermocyclers, and Mass Spectrometry. For the purpose of
this report, we have chosen these areas to examine in depth.
This report reviews the market for selected biotechnology
instrumentation equipment and supplies used in the biotech,
pharma, and food and beverage markets. It defines the dollar
volume of sales in the U.S. market and analyzes the factors
which influence the size and the growth of the individual
market segments. The report details market sizes and growth
rates, with projections usually through the year 2002 or
beyond, if it makes sense for the U.S. market.
This report further examines the subsections of each market
segment of HPLC, Electrophoresis, Filters and Membranes,
Sequencers and Synthesizers, Thermocyclers, and Mass
Spectrometry. The report discusses activity and trends in the
analytical markets which have stimulated growth, including the
Protein Sequencing, DNA Sequencing, The Human Genome
Project, C-terminal Sequencing, Gas and Liquid Phase
techniques, Polymerase Chain Reaction (PCR), Real-time,
Quantitative PCR, High Resolution Electrophoresis,
Proteomics, and the use of Mass Spectroscopy in sequencing.
The report surveys some of the companies known to be
marketing, manufacturing or developing instruments and
reagents for the biotechnology instrumentation market in the
U.S. for those sectors covered in this report. Each company is
discussed in depth with a section on the history of the
company, the product line, business and marketing analysis,
and a subjective commentary of the position of the company
in its market.
Certain areas are only touched upon since they are related to
the major elements of this report, but are in themselves, an
entirely different field or market. An example of this is the use
of the new techniques of combinatorial chemistry for drug
screening. These are very interesting and substantive areas,
which form the foundation of much of the growth in
biotechnology analysis, but in the interest of brevity and not
including everything remotely related to the biotechnology
instrumentation market segment, these areas were not
analyzed in depth.
1.5 Methodology
The information in this report is based upon interviews with
sales and marketing professionals of companies in the
analytical instrumentation market. People from virtually every
company mentioned in this report were queried, some several
times, about their companyís products and marketing
strategies as well as their overall thoughts about their industry
segment. Information was also obtained from interviews with
founders, CEOs, and vice presidents of some of the
companies discussed in the report.
Other sources of information for the report were trade
association publications and meetings, product brochures and
catalogs, and company literature. Where the companies under
discussion were publicly held, an examination of the annual
reports, 10k filings, and financial reports were used as the
basis of the data reported.
Some of the information obtained for the report was taken
from Theta databases and from the private data stores of the
author.
The information set forth in this study was obtained from
sources that we believe to be reliable, but we do not
guarantee its accuracy, adequacy or completeness of any
information, omission or for the results obtained by the use of
such information.
1.6 Executive Summary
The biotechnology industry is one of the newest and most
promising commercial segments in the nation at the end of the
twentieth century.
The biotechnology industry, whose primary goal is to invent
new biologically active substances for the treatment of disease
and the management of agriculture, is along with the
pharmaceutical industry, the principal user of biotechnology
scientific instrumentation in the markets covered in this report.
The biotech industry is the primary customer of the analytical
instruments developed for use in HPLC, electrophoresis,
sequencing and mass spectroscopy.
In 1998 the biotechnology industry had sales of $11.4 billion,
growing at the rate of 11% per year. Table 1 summarizes the
top ten biotechnology companies by market capitalization.
The biotechnology industry spent $8 billion in 1998 on
research and development. The biotechnology industry
compares favorably with the pharmaceutical industry in terms
of R&D expenditures per employee.
In 1998, Theta estimates that the pharmaceutical industry
expended $26 billion on research and development. Table 2
summarizes the top ten pharma companies by market
capitalization.
In 1998, the expenditures per employee were $67,000 for the
biotech sector, compared to $43,000 for the pharmaceutical
industry. This high level of spending can be translated directly
into the growth in sales of biotechnology instrumentation and
reagents, which, after personnel costs, account for the highest
fraction of R&D expenditures.
There are a number of factors that drive the growth of the
biotech industry:
• The Human Genome Project has fundamentally
changed the role of biotech in healthcare. The
biotechnology industry is positioned to join, or even
surplant, the role of pharma as the underpinning of the
healthcare system in the U.S.
• The aging population in the U.S. will steeply increase
the percentage of older Americans in the next twenty
years. This demographic shift will cause an increasing
demand for more and better healthcare in the U.S. The
pharmaceutical industry along with its biotech partners
are positioned to fill this need with new drugs and new
genome approaches to disease. Of course this sector is
heavily committed to research and development
expenditures.
• New analytical devices have become central in
identifying and characterizing lead compounds.
• Mergers and acquisitions with the more established
pharma companies.
• The rise of private placements and debt financing as
sources of new capital.
The automated methods of analytical instrumentation are
making the biotechnology revolution possible. For example,
automated synthesis, amplification, and analysis of DNA are
becoming an increasingly integrated, productive, flexible, and
cost effective part of the research and development process.
The large-scale study of proteins, known as ìproteomics,î is
emerging to utilize the new genetic knowledge of the basis for
protein synthesis.
The study of DNA sequences in disease and the discovery of
target sequences which can be bound by small molecules
(drugs), is emerging as an area which will be intensive for the
use of new analytical equipment.
The overall biotechnology instrumentation testing market, as
defined by those instruments and devices that are described in
Table 3, is estimated by Theta to be a $2.5 billion worldwide
market in 1998. The U.S. market is estimated to be $1,202
million in 1998.
Typically the market is segmented by the underlying
technology involved in performing the instrumentation analysis.
For example, the largest market segments of the
biotechnology instrumentation testing industry are high
pressure liquid chromatography (HPLC) with about 21% of
the market, and electrophoresis, with about 15% market size
(Table 3).
The biotechnology instrumentation segment is currently the
fastest growing part of the analytical instrument market. DNA
sequencing has been bolstered by the advances in the Human
Genome Project. Also, new methods like C-terminal
sequencing, polymerase chain reaction (PCR) and the
combination of gas and liquid phase chromatography
techniques have resulted in an upsurge in interest in this mature
area.
Theta sees continued strong growth in the biotechnology
instrumentation sector as R&D efforts and new products
continue to come forth from the pharmaceutical, biotech,
agricultural and beverage and food sectors.
Geographically North America accounts for about 48% of the
market, Europe 25%, Japan 20%, the Pacific Rim 5% and the
rest of the world 2%. Total biotech instrumentation revenues
are growing at about 11% per year worldwide, while the
underlying test volume is growing at 15% per year. The
difference in these numbers suggests the price pressures and
increases in productivity in the industry.
This report discusses six areas of biotechnology
instrumentation which show promise for high growth in the
next five years:
1.High Pressure Liquid Chromatography (HPLC)
2.Electrophoresis
3.Filters and Membranes
4.Protein and Nucleic Acid Sequencers and Synthesizers
5.PCR/Thermal Cyclers
6.Mass Spectrometry.
....
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