Press release
Laboratory Equipment Market Latest Trends Report on Industry Size and Share Growth with A Whopping CAGR of 7.40% By 2030
Laboratory Equipment Market
Laboratories across various sectors, including research, clinical diagnostics, microbiology, and teaching, require a diverse range of supplies for testing and research purposes. These supplies play a crucial role in scientific experiments, research endeavors, and analytical procedures. The continuous technological advancements, especially in specialized tools, by both public and commercial research organizations have led to the availability of a wide array of laboratory equipment. The market for laboratory equipment and disposables is expected to witness significant growth over the forecast period, driven by technological expansions in lab equipment, the increasing number of clinical diagnostic procedures, and augmented investments in healthcare, both private and public. Favorable insurance policies for laboratory equipment further contribute to market expansion. Additionally, the market is propelled by the surge in research activities in life sciences and biotechnology sectors.
According to a comprehensive research report by Market Research Future (MRFR) titled "Laboratory Equipment Market Information By Product Types, Applications, End User, And Region - Forecast till 2030," the market is projected to reach USD 84.79 billion by 2030, with a compound annual growth rate (CAGR) of 7.40%.
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Report Scope:
The report forecasts the market to reach USD 84.79 billion by 2030, with a CAGR of 7.40% during the period of 2022-2030. It covers various segments such as product types, applications, and end-users across regions including North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Laboratory Equipment Market Competitive Landscape:
The central players in the laboratory equipment market are:
Agilent Technologies, Inc. (US)
BD (US)
Hoffmann LA-Roche AG (Switzerland)
PerkinElmer Inc. (US)
Beckman Coulter, Inc. (US)
Bio-Rad Laboratories, Inc. (US)
Bruker (US)
Eppendorf AG (Germany)
Shimadzu Corporation (Japan)
Thermo Fisher Scientific Inc. (US)
Waters (US)
These players are focusing on innovations and collaborations to enhance their market presence and offer cutting-edge solutions to customers.
Browse In-depth Market Research Report (111 Pages) on Laboratory Equipment: https://www.marketresearchfuture.com/reports/laboratory-equipment-market-8365
Laboratory Equipment Market Trends:
Market Drivers:
The laboratory equipment market is driven by factors such as the increasing number of pharmaceutical research operations, the rising demand for accurate and prompt disease treatment, and the growing levels of private and public research funding to support scientific research endeavors. Laboratory equipment plays a vital role in conducting various tests and research activities across multiple applications. Moreover, the demand for laboratory equipment is escalating due to the rise in chronic diseases and lifestyle disorders, such as chronic respiratory ailments, cardiovascular diseases, and diabetes. Favorable insurance policies further contribute to market growth. Additionally, the surge in research activities in life sciences and biotechnology sectors is fueling the demand for laboratory supplies and disposables.
Market Restraints:
The high cost associated with advanced laboratory equipment and the limited availability of clinical laboratories in certain regions pose challenges to market expansion.
Market Segmentation:
The market is segmented based on product types into incubators, centrifuges, spectrometers, scopes, sonicators, autoclaves, and others. Among these, the incubators segment is anticipated to lead the market during the forecast period.
By application, the market segments include biochemistry, endocrinology, microbiology, genetic testing, and others, with the biochemistry segment expected to dominate the market.
End-users of laboratory equipment include hospitals, research laboratories, academic institutes, and others, with hospitals projected to lead the market during the forecast period.
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Regional Insights:
The report offers insights into the laboratory equipment market across North America, Europe, Asia-Pacific, and the Rest of the World regions. In 2021, the North America laboratory equipment market reached USD 20.54 billion and is projected to experience significant CAGR growth throughout the study period. This growth is driven by increasing grants allocated to educational institutions and private organizations for the installation of laboratory equipment, which may include analytical instruments, alongside the ongoing development of healthcare infrastructure across the region.
Furthermore, the market report covers major countries such as the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Email: sales@marketresearchfuture.com
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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