In this article, we will discuss the 12 Best Scientific Instruments Stocks to Buy Right Now.

The global scientific instruments market has been experiencing steady growth and is expected to continue its upward trajectory in the coming years. According to a recent report by Expert Market Research, the market was valued at approximately $39.94 billion in 2024 and is forecasted to expand at a compound annual growth rate (CAGR) of 4.50% between 2025 and 2034, reaching a projected value of  $62.03 billion by 2034. This growth is attributed to several critical factors driving the demand for scientific instruments across various industries, including healthcare, biotechnology, pharmaceuticals, and research and development.

Influence of Healthcare Investments on Scientific Instruments Demand:

The global scientific instruments market is significantly influenced by substantial investments in healthcare, particularly in the development of advanced diagnostic and analytical tools. As per the NHE factsheet in 2023, U.S. healthcare spending reached $4.9 trillion, accounting for 17.6% of the nation’s GDP.  Additionally, the rapid advancements in biotechnology and pharmaceuticals are significantly influencing market growth. With the continuous innovation in research, there is an increasing need for precise and reliable instruments to support testing and analysis, particularly in laboratories and clinical environments. In 2023, the top 20 global pharmaceutical companies collectively spent $145 billion on R&D, up from $139 billion in 2022, as reported by Deloitte.

Pharmaceutical Industry’s Focus on Drug Quality and Biosimilar Development:

Pharmaceutical companies are focusing on improving drug quality and developing better products, necessitating the use of advanced equipment for analysis and testing. The development and marketing of biosimilars require significant investment, with costs ranging from $100 million to $250 million and development timelines of 7 to 8 years, according to a report by the National Library of Medicine.

Technological Advancements Shaping the Scientific Instruments Market:

Technological advancements in scientific instruments are playing a significant role in shaping the market. In fields like genomics, personalized medicine, and neuroscience, instruments with enhanced capabilities, such as higher precision, automation, and the ability to handle complex data, are becoming increasingly essential. For example, next-generation sequencing technologies have revolutionized genomics by enabling rapid and accurate analysis of genetic data and facilitating personalized medicine approaches. Given this, we will take a look at some of the best scientific instrument stocks to buy.

Our Methodology

To compile the list of the best scientific instruments stocks to invest in, we screened for companies listed on the New York Stock Exchange and Nasdaq that are involved in the scientific instruments industry. Next, we cross-referenced these stocks with Insider Monkey’s Q4 2024 hedge fund database to identify which companies had significant institutional backing. The stocks were then ranked according to the number of hedge fund investors holding positions in them.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 363.5% since May 2014, beating its benchmark by 208 percentage points (see more details here).

12. ESCO Technologies Inc. (NYSE:ESE)

Number of Hedge Fund Holders: 12

ESCO Technologies Inc. (NYSE:ESE) is a leading provider of engineered products and solutions across a variety of industries, including aerospace, defense, healthcare, and renewable energy. With a focus on innovation, the company operates through three distinct segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. Each segment specializes in advanced technologies, ranging from filtration and fluid control systems to diagnostic testing solutions and RF energy measurement products. The stock has surged by over 59% in the past 12 months, which makes it one of the best scientific instruments stocks on our list.

ESCO Technologies Inc. (NYSE:ESE) recently announced its strategic investment in Allwin Medical Devices Inc., a leading manufacturer of medical devices for IVF, urology, gastroenterology, and interventional radiology based in Anaheim, California. This investment strengthens the company’s commitment to delivering sustainable workflow solutions, with Allwin’s IVF consumables enhancing ESCO Technologies Medical’s IVF instrument portfolio. It also expands the company presence in India, leveraging Allwin’s local operations and expertise in the IVF consumables sector.

ESCO Technologies Inc. (NYSE:ESE) reported solid financial performance for FY 2024, with sales increasing 7.4% to $1.03 billion, driven by both organic growth and contributions from the MPE acquisition. The company’s GAAP EPS rose by 10.1% to $3.94, while adjusted EPS grew 13% to $4.18. Entered orders saw a healthy 9.7% rise, reaching $1.1 billion, which led to a record backlog of $879 million. Operating cash flow also saw significant improvement, up by $51 million, reaching $128 million for the year.

11. Novanta Inc. (NASDAQ:NOVT)

Number of Hedge Fund Holders: 13

Novanta Inc. (NASDAQ:NOVT) is a leading provider of advanced technology solutions for the medical and industrial sectors. The company operates through three key segments: Precision Medicine and Manufacturing, Medical Solutions, and Robotics and Automation. It is among the best scientific instruments stocks on our list.

Novanta Inc. (NASDAQ:NOVT) has been actively engaging with investors and the broader market in recent months, showcasing its commitment to strategic growth and transparency. In January 2025, the company participated in high-profile investor events, including the J.P. Morgan 43rd Annual Healthcare Conference and the CJS Securities 25th Annual New Ideas for the New Year Investor Conference. These platforms allowed the company’s leadership to present the latest developments and future strategies to a wide audience of analysts and institutional investors.

Novanta Inc. (NASDAQ:NOVT) reported financial results for Q3 2024 with GAAP revenue of $244.4 million, reflecting a 10.3% year-over-year increase. Operating income rose to $32.6 million, up from $30.3 million in the same quarter last year, while net income slightly decreased to $19.2 million, down from $21.2 million. The company posted GAAP diluted earnings per share (EPS) of $0.53, compared to $0.59 in Q3 2023. Operating cash flow for the quarter was $23 million, a decrease from $44.6 million in Q3 2023.

10. Vishay Precision Group Inc. (NYSE:VPG)

Number of Hedge Fund Holders: 16

Vishay Precision Group Inc. (NYSE:VPG) is a global leader in precision measurement and sensing technologies, offering a diverse range of specialized sensors, weighing solutions, and measurement systems. The company operates through three key segments: Sensors, Weighing Solutions, and Measurement Systems.

Vishay Precision Group Inc. (NYSE:VPG) continues to make significant strides in the scientific instruments sector. The company made its presence felt at the 27th Annual Needham Growth Conference in January 2025, highlighting its position in precision measurement technologies. Furthermore, the company’s subsidiary, Dynamic Systems Inc. (DSI), has partnered with the University of Alabama to beta-test an innovative Ultra High-Temperature Coating (UHTC) system aimed at advancing research in materials science. This collaboration exemplifies Vishay Precision Group Inc. (NYSE:VPG)’s focus on pioneering technological solutions for demanding applications.

Vishay Precision Group Inc. (NYSE:VPG) faced a challenging year, with a 13.7% drop in revenue to $307 million, driven by macroeconomic and cyclical factors. The company experienced a decrease in net earnings per diluted share, dropping from $1.88 in 2023 to $0.74 in 2024. Adjusted net earnings per diluted share also decreased, from $2.17 to $0.95. The decline in revenue was largely driven by macroeconomic factors and cyclical headwinds, but the company remains focused on business development and cost reductions moving forward.