Laboratory equipment market size worth USD 85,801 million

New York, U.S., Sept. 02, 2022 (GLOBE NEWSWIRE) — Overview of the laboratory equipment market

According to a comprehensive research report by Market Research Future (MRFR), “laboratory equipment market Information by product type, application, end user and region – Forecast to 2030“, the market will reach $85,801.35 million by 2030, at a CAGR of 7.40%.

Laboratory Equipment Market Synopsis

Medical laboratories need various supplies to perform tests and conduct research. These can be found in various laboratories, including research laboratories, clinical diagnostic laboratories, microbiology laboratories and teaching laboratories, where they are used to conduct scientific experiments, conduct research and perform analyzes on various scientific materials. Innovative technologies, such as specialized tools, are developed by public and commercial research organizations through research and development operations to diagnose and treat various diseases around the world. Due to developments in biological and chemical research, there has been an increase in the availability of laboratory supplies. According to the industry, there is a growing need for laboratory equipment due to the growing number of clinical laboratory tests and life science research initiatives.

The laboratory equipment and disposables market is estimated to grow significantly over the forecast period owing to technological expansion in the field of laboratory equipment, an increase in the number of clinical diagnostic procedures and increased investment in private and public health care. Beneficial insurance policies for laboratory equipment are also contributing to the expansion of the market. Additionally, the market for laboratory supplies and disposables is growing owing to an increase in research in the fields of life sciences and biotechnology. Additionally, it is expected that procurement managers in the pharmaceutical and healthcare sectors will have a higher demand for a constant supply of essential laboratory equipment in the coming years.

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Report Scope:

Report attribute Details
Market size 2030 $85,801.35 million
CAGR 7.40%
base year 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By product type, application and end user
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Technical advancement in the laboratory equipment industry
Growing number of drug research operations and adoption for accurate and timely treatment of diseases

Competitive Landscape of Laboratory Equipment Market:

The main players in the laboratory equipment market are:

  • Agilent Technologies, Inc. (USA)
  • comics (US)
  • Hoffmann LA-Roche AG (Switzerland)
  • PerkinElmer Inc. (USA)
  • Beckman Coulter, Inc. (USA)
  • Bio-Rad Laboratories, Inc. (USA)
  • Bruce (USA)
  • Eppendorf AG (Germany)
  • Shimadzu Corporation (Japan)
  • Thermo Fisher Scientific Inc. (USA)
  • Waters (USA)

Covered USP market:

Market factors:

Vital growth drivers in the laboratory equipment market are increasing number of pharmaceutical research operations, increasing demand for correct and timely treatment of diseases and increasing levels of private and public research funding to support research operations. Scientific Research. Several tools are needed in laboratories to perform tests and research. General laboratory technology is used in research, teaching, clinical laboratories, quality assurance, R&D, advertising and other applications. By enabling faster analysis through lab technology, the lab can perform more daily tests, which improves its value. This can result in cost reductions for supplies, maintenance, regulatory paperwork and general expenses.

There is an increasing demand for laboratory equipment to introduce advanced technologies in the market due to the increase in chronic diseases such as chronic respiratory, cardiovascular and diabetes diseases and the incidence of mode-related diseases. life such as heart disease, obesity and atherosclerosis. Beneficial insurance policies for laboratory equipment are also contributing to the expansion of the market. Additionally, the market for laboratory supplies and disposables is growing owing to an increase in research in the fields of life sciences and biotechnology.

Market constraints:

The high cost of advanced laboratory equipment and the scarcity of clinical laboratories in some countries are limiting market expansion.

COVID 19 analysis of the laboratory equipment market

Coronavirus research has increased due to the COVID-19 pandemic. The need for SARS-CoV-2 testing in clinical laboratories increased as the pandemic spread. Laboratories have increased their spending on pathology equipment due to increased demand for these test kits. The introduction of beneficial government programs and growing awareness of the need to improve patient care will support the expansion of the market shortly.

Browse the in-depth (111 pages) Laboratory Equipment Market Research Report: https://www.marketresearchfuture.com/reports/laboratory-equipment-market-8365

However, since the main purpose of the lockdown was to avoid intimate contact with others, laboratories conducting pre-pandemic disease research were closed as the need for laboratory materials was low. The capacities of the laboratories develop in parallel with technological developments. Thanks to new technologies, scientists and laboratory technicians can work better and faster than ever before. Artificial intelligence, automation, miniaturization and smart technology are advancing in the real world and simplifying lab life. At the same time, the need to deliver results quickly is also increasing. Laboratories must therefore be fast and flexible. For laboratory managers, streamlining the purchasing process is a major strategy for increasing productivity. The lab’s suppliers also simplify the ordering and product selection processes.

Segmentation of the laboratory equipment market

By product type

The market is segmented on the basis of product type into incubators, centrifuges, spectrometers, oscilloscopes, sonicators, autoclaves, others. The incubator segment will lead the overall market during the forecast period.

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By app

The market is segmented on the basis of applications in biochemistry, endocrinology, microbiology, genetic testing, others. The biochemicals segment will lead the overall market during the forecast period.

Final user

The hospital segment will lead the overall market during the forecast period.

Regional Overview of Laboratory Equipment Market

However, since the main purpose of the lockdown was to avoid intimate contact with others, laboratories conducting pre-pandemic disease research were closed as the need for laboratory materials was low. The capacities of the laboratories develop in parallel with technological developments. Thanks to new technologies, scientists and laboratory technicians can work better and faster than ever before. Artificial intelligence, automation, miniaturization and smart technology are advancing in the real world and simplifying lab life. At the same time, the need to deliver results quickly is also increasing. Laboratories must therefore be fast and flexible. For laboratory managers, streamlining the purchasing process is a major strategy for increasing productivity. The lab’s suppliers also simplify the ordering and product selection processes.

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Due to the coronavirus outbreak, many companies are also working to create treatments and vaccines, helping the market grow. Due to the growing adoption of clinical diagnostic tests, increasing disposable income, increasing R&D and innovation activities, and awareness of disease prevention and early testing, the Asia region -Pacific holds a major market share for laboratory equipment and disposable products and has high growth potential. In addition, the prevalence of infectious diseases is increasing.

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