Lab Supplies Market: Steady Growth and New Trends Emerge as Market Size Expands

The Global Lab Supplies Market is projected to grow at a steady pace, driven by scientific research, biotechnology advancements, and demand from healthcare and educational institutions.

What Is The Projected Market Size Of The Global Lab Supplies Market And Its Growth Rate?
The Lab Supplies market has observed sturdy growth in recent years with key statistics projecting a promising future:
• The market size grew from $37.65 billion in 2024 to $40.63 billion in 2025, at a CAGR of 7.9%
• The growth in the historic period was due to the rising needs of scientific research, biotechnology and pharmaceutical advancements, healthcare diagnostics, and academic institutions
• The market size is forecasted to ramp up to $57.2 billion by 2029 at a CAGR of 8.9%, attributed to factors like rising life sciences research, environmental testing, and advancements in genomic medicine.

What Is Driving The Growth In The Lab Supplies Market?
The growth in the number of testing laboratories across the world is considered a significant driver for the Lab Supplies market. These testing laboratories, where diagnostic tests or research is carried out, utilize lab supplies extensively for conducting various operations. The surge in testing laboratories has boosted the demand for lab supplies, propelling the market growth. For instance, from September 2022 to April 2023, over 85,000 to 88,000 laboratories were accredited by ILAC Full Members, according to the Australia-based International Laboratory Accreditation Cooperation.

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Who Are the Key Players Driving Lab Supplies Market Growth?
The following major companies are operating and influencing growth in the lab supplies market:
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Danaher Corporation
• Siemens Healthineers
• Fujifilm Holdings Corporation
• Becton Dickinson and Company
• GE Healthcare
• Corning Inc.
• Agilent Technologies Inc.
• Avantor

What Are The Key Trends In The Lab Supplies Market?
Notable trends in the Lab Supplies market include:
• Focus on biodegradable materials
• Stringent quality and safety standards
• Increased collaboration with research institutions
• Global supply chain optimization
• Emphasis on single-use technologies

What Are The Segments Of The Global Lab Supplies Market?
The Lab Supplies market is segmented into the following basis:
1) By Product: Equipment, Disposables
2) By Application: Biochemistry, Endocrinology, Microbiology, Genetic Testing, Other Applications
3) By End Users: Academic Institutes, Clinical And Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies, Other End Users

Which Region Leads The Lab Supplies Market?
North America dominated the lab supplies market in 2024. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The Lab Supplies Market Global Market Report?
- Market Size Analysis: Analyze the Lab Supplies Market size by key regions, countries, product types, and applications.

- Market Segmentation Analysis: Identify various subsegments within the Lab Supplies Market for effective categorization.

- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.

- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.

- Market Contribution: Evaluate contributions of different segments to the overall Lab Supplies Market growth.

- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.

- Industry Challenges: Analyze challenges and risks affecting the Lab Supplies Market.

- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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