According to a report from ResearchAndMarkets, the used, rental and leasing analytical instruments market generated $1,649.3 million in 2017, with a base year growth rate of 6.8%.

The market is set to grow further, as various verticals are grappling with funding issues, in addition to regulatory factors pertaining to environmental and food safety. However, new business models (e.g., virtual R&D) could have a negative impact on market growth.

The report focuses on identifying the market size for each of the three segments — used, rental and leased — and further evaluates the product and vertical market trends by dividing up market revenue. The product coverage includes all models under the broad category of chromatography, spectroscopy, analytical microscopes, analytical x-ray, and gas and liquid analyzers.

End-user verticals have traditionally used the outright purchase model to purchase analytical instruments. As analytical instruments find long-term use in research applications, the purchase option can be justified. This option also holds good for companies with large CAPEX capabilities.

But how will small and midsize companies or companies with either a low CAPEX or delayed fund allotment for an urgent project procure analytical instruments? This is where used, rental and leased analytical instruments lend a hand. The used, rental and leasing market’s offering of analytical instruments improves customers’ productivity and offers the advantages of third-party analytical services.