Laboratory Equipment Market Size Expands Steadily at a CAGR of 7.4% to Cross USD 84.79 Billion by 2030
Research Reports
Sep 14, 2023
Laboratory Equipment Market Research Report Information By Product Type (Incubators, Centrifuges, Spectrometers, Scopes, Sonicators, Autoclaves, and others), By application (Biochemistry, Endocrinology, Microbiology, Genetic Testing, and others), By End Users (Hospitals and Clinics, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
The global laboratory equipment market is expected to reach USD 84.79 billion at a CAGR of 7.4% from 2022 to 2030. The laboratory equipment market is a broad and diverse market that includes a wide range of products, such as microscopes, centrifuges, spectrophotometers, autoclaves, incubators, and other analytical instruments. These products are used in a variety of settings, including research and development labs, clinical labs, and environmental testing labs.
The laboratory equipment market is a vital part of the healthcare and research industries. The products in this market play an important role in the development of new drugs and treatments, as well as in the diagnosis and treatment of diseases.
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Competitive Outlook
Some of the key players in the laboratory equipment market include Agilent Technologies Inc. (US), BD (US), Beckman Coulter Inc. (US), Bio-Rad Laboratories Inc. (US), Bruker (US), Eppendorf AG (Germany), Hoffmann LA-Roche AG (Switzerland), PerkinElmer Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US)
Market Segmentation
The laboratory equipment market can be segmented based on product type, end-use industry.
Segmented on product type, the market can be segmented into: Analytical Instruments: This includes instruments such as chromatography systems, mass spectrometers, and spectroscopy systems.
General Equipment: This includes laboratory ovens, incubators, refrigerators, and freezers.
Specialty Equipment: This includes specialized equipment such as microscopes, centrifuges, and histology equipment.
Consumables and Reagents: This includes laboratory consumables and reagents such as pipettes, test tubes, and chemicals.
Segmented on end-use industry, the market can be segmented into: Healthcare: This includes hospitals, clinics, and diagnostic laboratories.
Pharmaceutical and Biotechnology: This includes pharmaceutical companies, biotechnology companies, and research institutes.
Food and Beverage: This includes food and beverage processing companies and research institutes.
Academic and Research Institutes: This includes academic and research institutes, universities, and colleges.
Regional Analysis
North America is the largest market for laboratory equipment. This is due to the presence of a large number of pharmaceutical and biotechnology companies in the region, as well as the high regulatory standards in place. The United States is the largest market in North America, followed by Canada.
The European market is driven by the increasing demand for research and development in the pharmaceutical and biotechnology industries. Germany is the largest market in Europe, followed by France and the United Kingdom.
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The growth is being driven by the increasing demand for laboratory equipment in emerging markets, such as China and India. China is the largest market in Asia Pacific, followed by India and Japan.
The Latin American market is driven by the increasing demand for laboratory equipment in the healthcare sector. Brazil is the largest market in Latin America, followed by Mexico and Argentina.
Middle East and Africa is the smallest market for laboratory equipment. The growth is being driven by the increasing demand for laboratory equipment in the healthcare sector in the Middle East and Africa.
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