United States Hospital & Laboratory Equipment Market 2025 | Growth Drivers, Competitive Insights & Opportunities

Market Size and Growth

The Global Hospital and Laboratory Equipment Market reached US$ 41.92 billion in 2023 and is expected to reach US$ 77.73 billion by 2031, growing at a CAGR of 8.0% during the forecast period 2024-2031.

Key Development:

United States: Recent Industry Developments

✅ In August 2025, Abbott announced a $500 million investment to expand its transfusion diagnostics business, enhancing U.S. manufacturing and R&D for instruments that screen blood and plasma supplies. This move aims to bolster the nation's blood safety infrastructure.

✅ In July 2025, a major U.S. lab supplier launched smart automated sample management systems for clinical labs, streamlining workflows and improving efficiency in sample handling and processing.

✅ In April 2025, QIAGEN revealed plans to launch three new sample preparation instruments by 2026, targeting high-throughput and low-throughput needs to strengthen automated workflows in oncology and genomics labs.

Japan: Recent Industry Developments

✅ In June 2025, Japan Health, an international exhibition promoting innovation and competitiveness in medical devices, was held at INTEX Osaka, showcasing the latest advancements in the medical device industry.

✅ In May 2025, Olympus Corporation celebrated its 150th anniversary and launched a special website to commemorate its legacy and contributions to the medical device sector.

✅ In April 2025, Canon Medical Systems Corporation and Olympus Corporation announced a collaboration to jointly develop an Endoscopic Ultrasound System, combining their expertise in endoscopy and sonography to enhance diagnostic capabilities.

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Hospital and Laboratory Equipment includes medical devices, instruments, and tools used for diagnosis, treatment, monitoring, and research. This category covers a wide range of products such as surgical instruments, diagnostic machines, imaging systems, and lab analyzers, which are essential for efficient healthcare delivery and scientific advancement.

Recent Mergers and Acquisitions

United States: Recent M&A Developments

✅ In July 2025, Waters Corporation announced a $17.5 billion Reverse Morris Trust transaction to merge with Becton Dickinson's Biosciences & Diagnostic Solutions division. This strategic move aims to double Waters' total addressable market to $40 billion and enhance its capabilities in bioseparations, bioanalytical characterization, and multiplex diagnostics.

✅ In June 2025, private equity firms Blackstone and TPG renewed their interest in acquiring Hologic, a leading medical diagnostics company focusing on women's health. The potential deal, valued at approximately $14.7 billion, reflects Hologic's operational recovery and growth prospects in molecular diagnostics and breast health segments.

✅ In March 2025, Sonic Healthcare, an Australian-based pathology and health services company, acquired Laboratory Group Dr. Kramer and Colleagues (LADR), a German lab group, for €423 million ($698 million). This acquisition expands Sonic's presence in Germany and is expected to achieve high single-digit percentage accretion after three years, including synergies in procurement, laboratory operations, and logistics.

Japan: Recent M&A Developments

✅ In April 2025, Olympus Corporation and Canon Medical Systems Corporation announced a collaboration to jointly develop an Endoscopic Ultrasound System. This partnership aims to combine Olympus's expertise in endoscopy with Canon's imaging technology to enhance diagnostic capabilities in gastrointestinal and respiratory diseases.

✅ In March 2025, Fujifilm Holdings Corporation completed the acquisition of Hitachi's medical imaging business. The integration of Hitachi's advanced imaging technologies into Fujifilm's portfolio strengthens its position in the global medical imaging market and enhances its capabilities in diagnostic imaging solutions.

✅ In February 2025, Nihon Kohden Corporation acquired a majority stake in Medtronic Japan's patient monitoring business. This acquisition allows Nihon Kohden to expand its product offerings in patient monitoring systems and strengthen its presence in the Japanese healthcare market.

Key Players:

-> Medtronic, GE Healthcare, Philips Healthcare, Siemens Healthineers, Stryker Corporation, Hill-Rom Holdings, Inc., Thermo Fisher Scientific, Agilent Technologies, PerkinElmer, Inc, Roche Diagnostics among others.

Growth Forecast Projected:

The Global Hospital and Laboratory Equipment Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Hospital and Laboratory Equipment Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Product Type: Hospital Equipment, Laboratory Equipment
➥ By Technology: Automated Equipment, Manual Equipment, Semi-Automated Systems
➥ By End User: Hospitals, Diagnostic Laboratories, Academic and Research Institutes, Specialty Clinics

Regional Analysis for Hospital and Laboratory Equipment Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Hospital and Laboratory Equipment producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Hospital and Laboratory Equipment revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Hospital and Laboratory Equipment Market?

A: In 2023, the Hospital and Laboratory Equipment Market was valued at US$ 41.92 billion, reflecting its strong industry presence.

Q2: How large is the Hospital and Laboratory Equipment Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Hospital and Laboratory Equipment Market will grow to around US$ 77.73 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Hospital and Laboratory Equipment Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 8.0% during the forecast period from 2024 to 2031.

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