Press release
Innovations in Laboratory Technologies Fuel Market Expansion Worldwide
Laboratory Equipment Services Market
♦ Competitive Landscape and Regional Demand
Leading companies such as Agilent Technologies, Inc., Thermo Fisher Scientific Inc., and Waters Corporation are at the forefront, engaging in strategic acquisitions and partnerships to enhance their service offerings and global presence. Notably, the Asia Pacific region is experiencing the highest demand, driven by expanding biotechnology and pharmaceutical sectors and the need for accurate diagnostic solutions.
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♦ United States: Growth and Consolidation in Laboratory Equipment Services
The United States remains a dominant player, with significant mergers and acquisitions shaping the market.
Brookfield's acquisition of Antylia Scientific for $1.4 billion underscores the trend of private equity investments in laboratory equipment manufacturers.
Paeonia Industries' acquisition of the Savant Group expands its analytical equipment portfolio, enhancing its North American footprint.
♦ These consolidations aim to streamline operations and broaden service capabilities across various sectors, including pharmaceuticals and industrial testing.
♦ Asia Pacific: Opportunities and Trends in Laboratory Equipment Services
♦ The Asia Pacific region is witnessing rapid growth, attributed to increased R&D investments and the adoption of advanced laboratory technologies.
Thermo Fisher Scientific's acquisition of Solventum's purification and filtration business for $4.1 billion enhances its bioprocessing segment, catering to the region's growing biopharmaceutical industry.
♦ These developments reflect the region's commitment to advancing laboratory services and meeting the evolving demands of the healthcare and pharmaceutical sectors.
♦ Europe: Trends and Updation in Laboratory Equipment Services
♦ Europe's laboratory equipment services market is evolving through strategic acquisitions and technological advancements.
Heidolph Instruments' agreement with ATS Life Sciences to acquire its assets signifies a move towards integrating comprehensive laboratory solutions.
♦ Such initiatives aim to enhance service offerings and meet the stringent regulatory standards prevalent in the European market.
♦ Middle East and Africa: Growth and Emerging Opportunities
♦ The Middle East and Africa region is emerging as a promising market, with increasing investments in laboratory infrastructure and services.
The laboratory products and services outsourcing market in MEA generated a revenue of USD 1,289.9 million in 2023 and is expected to grow at a CAGR of 6.9% from 2024 to 2030.
♦ This growth is driven by the rising need for accurate diagnostic tests and the implementation of stringent regulatory standards in the healthcare sector.
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♦ Breaking Down the Laboratory Equipment Services Market: Key Segments Shaping the Industry
by Service Type
Calibration Services
Repair and Maintenance Services
Validation Services
Equipment Rental Services
Training Services
Other Services
Since calibration services are essential for guaranteeing precise measurements and adherence to legal requirements in sectors like pharmaceuticals and environmental monitoring, they dominated the Laboratory Equipment Services Market in 2023 based on Service Types. In order to reduce equipment downtime and preserve operating efficiency, repair and maintenance services are commonly used, especially in healthcare and research contexts. Particularly in highly regulated industries like biotechnology and food testing, validation services are crucial for confirming the functionality and dependability of laboratory equipment. Smaller labs and startups looking for affordable access to cutting-edge equipment without making a sizable capital commitment are increasingly using equipment leasing services.
by Equipment Type
Analytical Equipment
General Equipment
Specialty Equipment
Others
by Application
Clinical Diagnostics
Drug Discovery & Development
Biotechnology & Life Sciences Research
Environmental Testing
Food & Beverage Testing
Academic Research
Others
by End-User Industry
Pharmaceutical & Biotechnology Companies
Contract Research Organizations (CROs)
Academic & Research Institutes
Hospitals & Diagnostic Laboratories
Environmental Testing Laboratories
Food & Beverage Companies
Others
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◄ Meet the Industry Leaders Revolutionizing the Laboratory Equipment Services Market
1. Thermo Fisher Scientific Inc. - Headquarters: Waltham, Massachusetts, United States
2. Agilent Technologies, Inc. - Headquarters: Santa Clara, California, United States
3. Waters Corporation - Headquarters: Milford, Massachusetts, United States
4. PerkinElmer, Inc. - Headquarters: Waltham, Massachusetts, United States
5. Bio-Rad Laboratories, Inc. - Headquarters: Hercules, California, United States
6. Bruker Corporation - Headquarters: Billerica, Massachusetts, United States
Leading Figures in the European Laboratory Equipment Services Sector:
1. Merck KGaA - Headquarters: Darmstadt, Germany
2. Eppendorf AG - Headquarters: Hamburg, Germany
3. Sartorius AG - Headquarters: Göttingen, Germany
4. F. Hoffmann-La Roche Ltd - Headquarters: Basel, Switzerland
5. Qiagen N.V. - Headquarters: Venlo, Netherlands
Key players driving the Asia-Pacific Laboratory Equipment Services Market:
1. Shimadzu Corporation - Headquarters: Kyoto, Japan
2. Hitachi High-Tech Corporation - Headquarters: Tokyo, Japan
3. PerkinElmer Pty Ltd. - Headquarters: Glen Waverley, Australia
4. Luminex Corporation - Headquarters: North Ryde, Australia
◄ Uncover Key Insights Answering the Biggest Questions in the Laboratory Equipment Services Market
What is Laboratory Equipment Services ?
What is the growth rate of the Laboratory Equipment Services Market?
Which are the factors expected to drive the Laboratory Equipment Services market growth?
What is the CAGR at which the Laboratory Equipment Services market will grow during the forecast period?
What are the different segments of the Laboratory Equipment Services Market?
Which is the fastest growing region in the Laboratory Equipment Services market?
What growth strategies are the players considering to increase their presence in Laboratory Equipment Services ?
What are the upcoming opportunities and trends for the Laboratory Equipment Services Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Laboratory Equipment Services Market?
Who are the leading companies and what are their portfolios in Laboratory Equipment Services Market?
What segments are covered in the Laboratory Equipment Services Market?
Who are the key players in the Laboratory Equipment Services market?
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◄ Explore the Revolutionary Products Powering Market Success
Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective
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