Laboratory Equipment Market Overview

Laboratory equipment is a must in biological and biochemical testing and is thus a major part of the global healthcare and medical research sector. Laboratory equipment is used to store, handle, and carry various types of chemicals as well as biological samples, and carry out various reactions in order to gain results of varying kinds. The increasing demand for new drug development and increasing research into the pathology and etiology of diseases are likely to be a major driver for the global laboratory equipment market. The increasing demand for disposable laboratory equipment, in order to maintain sterility, is also likely to be a major driver for the global laboratory equipment market.

The global Laboratory Equipment Market is expected to accumulate revenues close to USD 58,960 million by 2025. It can exhibit a CAGR of 7.30% during the forecast period. Automation of laboratories for conducting repetitive tasks and focus on core tasks is likely to drive the market demand exponentially. High prevalence of disease warrant the need for advanced equipment for accurate diagnosis of samples and cell culture mediums.

The transition to point-of-care diagnosis, rise in biomedical research, and various innovations by major players are other major drivers of the global laboratory equipment market growth. Novel product launches by major players to accelerate the diagnosis rate of samples can embolden prospects for the market. The leading drivers and restraints affecting the global laboratory equipment market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global laboratory equipment market are also studied in the report and projections are made for the growth trajectory of each distinct component from 2018 to 2023. The various segments and sub-segments within the global laboratory equipment market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global laboratory equipment market.

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Laboratory Equipment Market Segmentation

The global laboratory equipment market is segmented on the basis of product type, application, end use, and region.

By product type, the global laboratory equipment market is segmented into incubators, centrifuges, spectrometers, scopes, sonicators, autoclaves, and others. The incubators segment holds the largest share in the global laboratory equipment market.

By application, the global laboratory equipment market is segmented into biochemistry, endocrinology, microbiology, hematology, genetic testing, and others. The biochemistry sector holds the leading share in the global laboratory equipment market due to the growing demand for biochemical laboratory processes in the medical sector. The increasing demand for better disease diagnostics and more effective drugs is also likely to be a major driver for the biochemistry segment of the global laboratory equipment market.

By end use, the global laboratory equipment market is segmented into hospitals and clinics, diagnostic laboratories, and others. The hospitals and clinics segment holds the largest share in the global laboratory equipment market by end use.

Laboratory Equipment Market Regional Analysis

The Americas, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe are major regions covered in the global laboratory equipment market report.

The Americas held the largest share in 2018 due to various technological breakthroughs as well as establishment of various laboratories for research and development purposes. Funding granted or allocated by private firms or public institutes is expected to drive the regional market growth. New product launches and innovations can spur the global laboratory equipment market demand.

APAC can experience a massive demand from the global laboratory equipment market due to large cases of chronic diseases and susceptibility of the geriatric populace. It can exhibit a robust CAGR during the forecast period due to improved standards for testing and procurement of technologically advanced equipment. Large number of contract research organizations and increasing number of R&D activities can drive the regional market demand.

Laboratory Equipment Market 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)

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