Laboratory Equipment Market Research Report - Global Forecast till 2027

Laboratory Equipment Market Research Report: By Product Type (Incubators, Centrifuges, Spectrometers, Scopes, Sonicators, Autoclaves, Others), Application (Biochemistry, Endocrinology, Microbiology, Genetic Testing, Others) and End-User (Hospitals and Clinics, Others) – Global Forecast to 2027

ID: MRFR/HC/6893-HCR | February 2021 | Region: Global | 111 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data

Market Forecast


Global Laboratory Equipment Market is expected to hold a value of USD 58,960 Million by 2025 at a CAGR of 7.3%.


Market Synopsis


There has been a high level of technological improvement in laboratory equipment in the past few years, which is fueling the global market growth. Also, as laboratory equipment is used rigorously for testing and research purposes, companies are investing in this market.


Market Influencer


The increasing initiatives by public and private companies boost market growth. The growing number of clearances and product launches by key players in the market are likely to act as a promising factor for the growth in the near future.


Market Drivers



  • Increasing research activities in pharmaceutical and biotechnology industries

  • Growing technological advancements

  • Rising need for accurate diagnosis

  • Upsurging support by public and private companies

  • Increasing mergers and acquisitions by prominent players in the market. For instance, in December 2017, BD acquired C. R. Bard, Inc. for USD 24 billion. With this acquisition, the company aimed to become a leader in the healthcare industry. Due to this acquisition, BD generated annual revenue of approximately USD 16 billion in 2017.

  • Growing funding by government organizations


Market Restraints



  • Change from lab-based diagnosis to the point of care diagnosis

  • Lack of laboratory setups in developing and underdeveloped economies


Segmentation


By Product Type



  • Incubators: Expected to hold the largest share, owing to the wide range of applications it offers.

  • Centrifuges: These are used in the separation of fluids, gas, or liquid, based on density.

  • Spectrometers: Fastest growing market due to increased product launches in the market. In April 2018, Bruker launched INVENIO Fourier Transform Infrared (FT-IR) research spectrometer.

  • Scopes: Scopes are mostly used in laboratory facilities. Different types of scopes include optical microscopes, electron microscopes, and confocal microscopes, among others.

  • Sonicators: Sonicators work on the principle of applying sound energy to agitate particles in a sample, for various purposes such as the extraction of multiple compounds.

  • Autoclaves: Autoclaves are pressure chambers used to carry out industrial and scientific processes requiring elevated temperature and pressure different from ambient air pressure.

  • Others: The others segment includes various products such as flow cytometers, microarrays, and microplate readers, among others.


By Application



  • Biochemistry: This is expected to be the largest segment, owing to the wide number of biochemical tests that are conducted in clinical as well as diagnostic laboratories.

  • Endocrinology: Endocrinology deals with the endocrine system and its related diseases. The increasing number of different tests is projected to push this segment to be the fastest-growing. Moreover, the share of this segment is expected to increase owing to the rising patient population. For instance, the number of visits to physicians’ offices for endocrine, nutritional, metabolic diseases, and immunity disorders were 69,845 in the US.

  • Microbiology: Microbiology testing is done for the detection of various types of bacteria, viruses, and fungi.

  • Hematology: Hematology is related to the cause, prognosis, treatment, and prevention of diseases related to blood. This segment includes various tests for white blood cells, red blood cells, hemoglobin, platelets, and so on.

  • Genetic Testing: Genetic testing can provide information about a person's genes and chromosomes.

  • Others: The others segment include toxicology and autoimmune diseases, among others.


By End-User



  • Hospitals and Clinics: The largest segment, hospitals and clinics are usually the primary points for diagnosis and treatment of individuals. Growing awareness about new products and increasing use of laboratory equipment are projected to drive the growth of this segment during the forecast period.

  • Diagnostic Laboratories: Diagnostic laboratories conduct various tests to detect the presence of a disease.

  • Others: This segment includes research organizations and academic institutions.


By Region



  • Americas: The largest regional market. Countries such as the US and Canada have well-established laboratories and constitute advanced laboratory systems and instruments. This contributes to the growth of the laboratory equipment market in this region.



  • Europe: The increasing laboratory research, coupled with the rise in the number of research organizations, is expected to boost the growth of the laboratory equipment market in the European region.



  • Asia-Pacific: The Asia-Pacific region is anticipated to be the fastest-growing region in the global laboratory equipment market. This region is seeing a surge in the number of people afflicted with chronic diseases. This demands for improved equipment for disease testing.



  • Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.


Key Players



  • 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)

  • Waters (US)



Frequently Asked Questions (FAQ) :


The global laboratory equipment market is projected to reach a valuation of USD 58,960 MN by 2025.

The global laboratory equipment market is projected to grow at approximately 7.3% CAGR during forecast period (2019-2025).

Increasing research activities in pharmaceutical & biotechnology industries.

North America holds the largest share in the global laboratory equipment market followed by Europe and Asia Pacific, respectively.

BD (US), Agilent Technologies, Inc. (US), Beckman Coulter, Inc. (US), Bruker (US), Bio-Rad Laboratories, Inc. (US), Eppendorf AG (Germany), PerkinElmer Inc. (US), F. Hoffmann LA-Roche AG (Switzerland), Shimadzu Corporation (Japan), Waters (US), and Thermo Fisher Scientific Inc. (US), are some of the major players operating in the laboratory equipment market.



This table of content is tentative and subject to change as the research progresses.

Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.