Laboratory Equipment and Consumables Market Worth $139.90 Billion by 2028, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2023-2028 - Arizton

According to Arizton's latest research report, laboratory equipment and consumables market will grow at a CAGR of 5.80% during 2022-2028.

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Laboratory equipment services are the most integral and vital part of the laboratory industry. The growing number of laboratories and advanced products launched in the market drive the demand for lab equipment services. OEMs only deliver lab equipment services for a particular time after vendors launch the product due to the product being new in the market and developed by technologies. Multi-vendor lab equipment services are also known as LAM or single-source services. They are privately managed laboratory equipment maintenance services for multiple vendors from a single provider. Multi-vendor services are included but not limited to only one service. These services offer repair, inventory management, purchasing, installation, equipment logistics, calibration, and compliance. In contrast to contracting third parties for lab equipment services, this service model binds a group of laboratories to obtain many services. Lab networks help deliver services that are unavailable through multi-vendor service providers. This is a major benefit of multi-vendor lab equipment service providers. Some leading laboratory equipment manufacturing companies offer multi-vendor services. They are among the top lab equipment manufacturers and leading service providers in the global market. Vendors in the market experience competition from various service providers. Currently, two major lab equipment service providers are available in the market with 60% and 40% market penetration. The service providers are OEMs and third-party service providers. Almost all manufacturing companies offer lab equipment services for particular periods, such as bi-annual or annual services. Third-party service providers offer various services for multiple lab equipment brands with one point of contact. Both entities constantly try to hold major share and penetration.

North America to Lead the Market Growth

North America is the leading region in the global laboratory equipment services market, accounting for higher revenue generation and market share in 2022. It is expected to dominate the market during the forecast period. R&D activities across North America increase across every industry that require laboratories and associated tools. Increased R&D activities accelerate the demand for lab equipment services.

The region's rapidly growing healthcare and life sciences sector delivers lucrative market growth opportunities. In healthcare sectors, the significant patient population demand for clinical and diagnostics tests fuels the clinical lab testing volume and impacts lab equipment conditions, where lab repair, maintenance, calibration, and other services are in high demand. Furthermore, the rapid development in pharma, biotech, and medical devices companies accelerates the demand for advanced and automated lab equipment where the need for preventive and other lab services is significantly high. The region has many hospitals, clinics, and other health laboratories. Vendors in North America have opportunities to focus on the healthcare industry with the application of lab equipment in these settings to achieve significant revenue.

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Vendors

Key Company Profiles

Agilent Technologies

Bruker

Bio-Rad Laboratories

Danaher

FUJIFILM Holding Corporation

PerkinElmer Inc.

Shimadzu Corporation

Thermo Fisher Scientific

Waters Corporation

Other Prominent Vendors

Abbott

Agappe Diagnostics

altona Diagnostics

Analyticon Biotechnologies

ARKRAY

Balio Diagnostics

BD

Biocartis

bioMérieux

Bioway Biological Technology

Boule Diagnostics

BRAND

Borosil

BIOTEC

CellVision

CLINDIAG SYSTEMS

CONTEC MEDICAL SYSTEMS

Convergent Technologies

cpc Diagnostics

Corning Incorporated

CPM Scientifica

CELLINK

Dexcom

DiaSorin S.p.A.

Diagon

Diatron

DIALAB

EKF Diagnostics Holdings plc

ELITechGroup

Eppendorf

FORMULATRIX

Flow Robotics

Gilson

Greiner Bio-One International

HiTec Zang

Hudson Robotics

Hamilton Company

HighRes Biosolutions

Integra Biosciences

Ingersoll Rand

METTLER TOLEDO

Metrohm

Orochem Technologies

Sartorius

SPT Labtech

Siemens Healthineers

Tecan

Wuhan Bonnin Technology

DIRUI

Drucker Diagnostics

Erba Diagnostics

Genrui Biotech

Hologic

High Technology

HORIBA

Luxlighting Technology

ACMAS Technologies

Labtop Instruments

ALSIN Technology Services

BIONICS SCIENTIFIC TECHNOLOGIES

Market Segmentation

Product: Consumables & Lab Apparatus, IVD Equipment, and Core & General Lab Equipment

Laboratory Type: Clinical & Diagnostics Labs, Pharma, Biotech, & Medical Device Companies, Academic & Research Lab, and Other Labs

Geography: North America, Europe, APAC, Latin America, and Middle East & Africa

Key Questions Answered in the Report:  

How big is the laboratory equipment and consumables market?

What is the projected growth rate of the global laboratory equipment and consumables market?

Who are the key players in the global laboratory equipment and consumables market?

What are the rising trends in the laboratory equipment and consumables market?

Which region holds the most significant global laboratory equipment and consumables market share?

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This release was published on openPR.