Laboratory Accessories Market Growth Accelerates: Strategic Forecast Predicts $899.6 Billion by 2029

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What Will the Laboratory Accessories Industry Market Size Be by 2025?
Over recent years, the laboratory accessories market size has notably expanded. The predicted growth pattern suggests it will increase from $613.47 billion in 2024 to $660.04 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.6%. This previous growth can be directly linked to factors such as the progression in life sciences research and clinical laboratory testing, the rise in the occurrence of numerous infectious diseases, the growing demand for laboratory examination, heightened awareness of global health matters, and a rise in the number of hospitals.

What's the Long-Term Growth Forecast for the Laboratory Accessories Market Size Through 2029?
Expectations are high for the laboratory accessories market, with significant growth predicted over the coming years. The market is forecasted to increase to $899.6 billion in 2029, with a compound annual growth rate (CAGR) of 8.0%. This projected growth can be attributed to several factors such as the expansion of lab infrastructure in emerging economies, an increased focus on environmentally-friendly and sustainable laboratory techniques, a surge in demand for compatible accessories and a heightened focus on drug therapy research and development. Moreover, the rise in the number of diagnostic tests is also contributing to this growth. Key trends anticipated for the forecast period include improvements in laboratory technology, automation and digital solutions, technological progressions, intelligent laboratory technologies, and the application of artificial intelligence (AI) and machine learning (ML) in lab processes.

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What Are the Key Growth Drivers Fueling the Laboratory Accessories Market Expansion?
The laboratory accessories market is positioned for growth, driven by an escalation in diagnostic tests. Diagnostic tests are medical procedures developed to ascertain the existence, character, or origin of a disease in patients. This surge in diagnostic tests can be attributed to improved health care access, chronic disease management necessity, amplified patient expectations, and genetic testing. Laboratory accessories are of paramount importance in every phase of the diagnostic testing process, including sample gathering and preparation, analysis, and documentation. They play a crucial role in assuring the precision, effectiveness, and security of diagnostic tests, ultimately resulting in dependable and meaningful outcomes for patient care. For example, the Diagnostic Imaging Dataset Annual Statistical, a government organization based in the UK, reported in November 2023 that England recorded 45.0 million imaging tests in March 2023, up from 44.0 million the previous year, a growth rate of 2.2%. Thus, the escalating volume of diagnostic tests is fuelling the growth of the laboratory accessories market.

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What Are the Key Trends Driving Laboratory Accessories Market Growth?
Major businesses in the laboratory accessories market are concentrating on producing ground-breaking products such as the automated plasmid purification system. This system aims to offer high-throughput solutions, enhance repeatability, and enable cutting-edge applications across molecular biology, clinical diagnosis, and pharmaceutical progression. The automated plasmid purification system is a sophisticated lab apparatus meant to integrate the procedure of purifying plasmid DNA from bacterial cultures without the usual manual input. For example, in June 2024, Thermo Fisher Scientific, an American life science, and clinical research corporation, introduced the Thermo Scientific KingFisher PlasmidPro Maxi Processor. This fully automated maxi-scale plasmid DNA purification arrangement is built to make the purification process more efficient. As a result, it improves the productivity of laboratory procedures involved in the discovery and production of treatments. This innovation is driven by a concerted effort to reduce manual errors, boost throughput, and focus on molecular biology and genetic studies.

How Is the Laboratory Accessories Market Segmented?
The laboratory accessories market covered in this report is segmented -

1) By Product Type: Instruments, Glassware, Lab Tables, Consumables, Other Product Types
2) By Laboratory Type: Clinical And Diagnostics Labs, Pharma, Biotech, And Medical Device Companies, Academic And Research Lab, Other Laboratory Types
3) By Application: Academic, Hospitals, Private Laboratories, Biotechnology, Other Applications

Subsegments:
1) By Instruments: Laboratory Analyzers Or Centrifuges Or Microscopes Or Spectrophotometers Or Ph Meters
2) By Glassware: Beakers Or Flasks Or Test Tubes Or Pipettes And Burettes Or Petri Dishes
3) By Lab Tables: Workbenches Or Laboratory Island Tables Or Height-Adjustable Lab Tables Or Chemical-Resistant Tables
4) By Consumables: Gloves And Lab Coats Or Filters And Membranes Or Test Strips Or Disposable Pipettes Or Culture Media
5) By Other Product Types: Lab Safety Equipment Or Storage Solutions Or Lab Cleanliness Products

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Which Companies Are Leading the Charge in Laboratory Accessories Market Innovation?
Major companies operating in the laboratory accessories market are Thermo Fisher Scientific Inc., The Merck Group, Agilent Technologies Inc., Sartorius AG, PerkinElmer Inc., Mettler-Toledo International Inc., Endress+Hauser Group Services AG, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Horiba Ltd., Eppendorf AG, Metrohm AG, Hamilton Company, Analytik Jena AG, Labconco Corporation, Rigaku Corporation, Biotix Inc., SP Industries Inc, Corning Incorporated, Tecan Group Ltd.

Which Regions Are Leading the Global Laboratory Accessories Market in Revenue?
North America was the largest region in the laboratory accessories market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laboratory accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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