Industry Growth of Laboratory Equipment Services Market is Projected to Rise by 12660.0 Million $ – Global Forecast to 2024 - Waters, Danaher, Hitachi High-Technologies, Eppendorf Ag
Global Laboratory Equipment Services Market overview:
BusinessIndustryReports have new report spread across 96 pages is an overview of the Global Laboratory Equipment Services Market Report 2020. The Global Laboratory Equipment Services Market is projected to grow at a healthy growth rate from 2020 to 2024 according to new research. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies.
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The Laboratory Equipment Services Market is expected to witness sustained growth over the forecast period (2020-2024). The growth of the Laboratory Equipment Services market is driven as there is favourable growth in the industry is a major factor which will boost the global Laboratory Equipment Services market. The global Laboratory Equipment Services Market consists of a large pool of players. Vendors in this market are seen focusing on development of novel marketing strategies and ideas in order to carve a niche position for themselves.
With the slowdown in world economic growth, the Laboratory Equipment Services industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Laboratory Equipment Services market size to maintain the average annual growth rate of 0.0621600575343 from 5740.0 million $ in 2014 to 7760.0 million $ in 2020, Market analysts believe that in the next few years, Laboratory Equipment Services market size will be further expanded, we expect that by 2024, The market size of the Laboratory Equipment Services will reach 12660.0 million $.
The Global Laboratory Equipment Services Market is segmented on the basis of Product Type, Application, End Use Industry and Region. On the Basis of Product Type segment, the Laboratory Equipment Services Market is sub segmented into Analytical Equipment, General Equipment, Specialty Equipment, Support Equipment.
Based on End Use Industry segment, the Laboratory Equipment Services Market is sub segmented into Clinical & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic & Research Institutions. the analytical equipment market segment accounted for the largest share of the laboratory equipment services market. Analytical equipment is extremely fragile and expensive and, therefore, require frequent servicing, which is a major factor driving market growth. In line with this, the growing volume of compounds to be detected for the presence of impurities has created an enormous demand for advanced analytical instruments. However, these instruments require regular maintenance and upgrading to ensure smooth and efficient workflow of processes and to prevent sudden equipment failures. This is expected to increase the demand for laboratory equipment services for analytical equipment
The Asia-Pacific region is projected to register a highest growth in the market between 2020 and 2024. The growing end-user industry is the key driver of the market in the region. Europe is projected to witness a slow growth during the forecast period due to stringent environment norms in the region. North America dominated the laboratory equipment services market, followed by Asia Pacific. The high and growing number of clinical trials, high life science Research and Development expenditure, the strong presence of major pharmaceutical and biotechnology companies, and the presence of a large number of research institutions and academic organizations in the region are the factors propelling the growth of the market in the region.
Some of the Laboratory Equipment Services Market manufacturers involved in the market are Agilent Technologies, Thermo Fisher Scientific Inc, Waters Corporation, Danaher Corporation, Mindray Medical International Limited, Hitachi High-Technologies Corporation, Eppendorf Ag, Hettich Instruments, Lp, Perkinelmer, Inc, Pace Analytical Services, Inc, Merck Millipore, Siemens Healthcare (A Subsidiary Of Siemens Ag), Acquisitions and effective mergers are some of the strategies adopted by the Laboratory Equipment Services Market manufacturers. New product launches and continuous technological innovations are the Laboratory Equipment Services Market strategies adopted by the major players.
Latest Industry Updates:
Waters Corporation (NYSE:WAT) and BioCity, the UK's largest bioscience incubator company, celebrated the opening of a new open access analytical laboratory. Located in the BioHub at Alderley Park, the laboratory offers Waters’ state-of-the-art liquid chromatography (LC), mass spectrometry (MS) and informatics technologies, within a suite of analytical modules for scientists working in the pharmaceutical and life science industries.
Waters and BioCity Debut New Open Access Analytical Laboratory in the BioHub at Alderley Park, UK (P Waters and BioCity Debut New Open Access Analytical Laboratory in the BioHub at Alderley Park, UK (Photo: Business Wire) Chancellor of the Exchequer, George Osborne stated, “This is more great news for Alderley Park and for Life Sciences in Cheshire. We are home to so many innovative and growing businesses in the sector and I was delighted to hear that BioCity Group and larger employers like Waters are helping to nurture new talent.”
“Scientists on-site now have access to state-of-the-art Waters’ capabilities through the open access facility,” said Rohit Khanna, Senior Vice President, Applied Technology. “The companies located at BioHub are engaged in breakthrough research and development. Close engagement with these companies provides Waters with a deeper insight into their needs and challenges.” The laboratory will be resourced with many of Waters’ latest technology offerings, including ACQUITY® QDa, ACQUITY H-Class, ACQUITY UPC2 and ACQUITY PDA Detector, along with the expertise required to leverage the power of these instrumentation platforms. The laboratory also includes a nuclear magnetic resonance (NMR) system provided by Manchester Science Partnerships, the owners of Alderley Park.
“At Alderley Park, and indeed across the BioCity group, we are working with a growth formula that provides emerging and growing companies with access to everything they need to succeed - be it people, facilities, finance or technology,” said Dr. Glenn Crocker (MBE) CEO, BioCity Group. “The fact that our model and the work we are doing in partnership with Waters and MSP is recognized by the Chancellor is encouraging to hear. We are proud to be playing a leading role at the forefront of both the local and national economy.”
Key Questions Answered in this Report:
1 The study provides an in-depth analysis of the global Laboratory Equipment Services Market and current & future trends to elucidate the imminent investment pockets.
2 Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
3 Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
4 The quantitative analysis of the global market from 2016 to 2024 is provided to determine the market potential.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Region segment: This report is segmented into several key regions, with sales, revenue, market share (%) and growth Rate (%) of HD Map in these regions, from 2013 to 2024 (forecast), covering: North America, Europe, Asia Pacific, Middle East & Africa and South America
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Table of Contents:
1 Laboratory Equipment Services Definition
2 Global Laboratory Equipment Services Market Major Player Share and Market Overview
3 Major Player Laboratory Equipment Services Business Introduction
4 Global Laboratory Equipment Services Market Segmentation (Region Level)
5 Global Laboratory Equipment Services Market Segmentation (Product Type Level)
6 Global Laboratory Equipment Services Market Segmentation (Industry Level)
7 Global Laboratory Equipment Services Market Segmentation (Channel Level)
8 Laboratory Equipment Services Market Forecast 2020-2024
9 Laboratory Equipment Services Segmentation Type
10 Laboratory Equipment Services Segmentation Industry
11 Laboratory Equipment Services Cost Analysis
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