Laboratory Equipment Market to Reach US$ 96.1B by 2031 | CAGR 7.7% | North America Dominates, Asia-Pacific Fastest Growing | Key Players: Thermo Fisher Scientific, Agilent, BD, Shimadzu

Leander, Texas and Tokyo, Japan - Jan.28.2026
As per DataM Intelligence research report "Global Laboratory Equipment Market reached US$ 53.1 billion in 2023 and is expected to reach US$ 96.1 billion by 2031, growing with a CAGR of 7.7% from 2024 to 2031."

The laboratory equipment market is expanding steadily as demand rises for precise, efficient tools in research, diagnostics, and analysis across healthcare, pharmaceuticals, biotechnology, and academia. Key drivers include technological advancements in automation, AI integration, robotics, and cloud computing; increasing R&D investments; rising prevalence of chronic diseases; growth in precision medicine and diagnostics; and the need for high-throughput, error-reduced workflows. Innovations like advanced spectrometers, automated systems, and eco-friendly designs enhance accuracy, productivity, and sustainability, supporting global scientific progress despite high equipment costs.

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Laboratory Equipment Market: Competitive Intelligence
Thermo Fisher Scientific Inc., Agilent Technologies, Inc., BD, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Bruker, Eppendorf SE, F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Shimadzu Corporation

In the Laboratory Equipment Market, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., BD, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Bruker, Eppendorf SE, F. Hoffmann-La Roche Ltd, PerkinElmer Inc., and Shimadzu Corporation collectively drive innovation and reliability by supplying a wide range of essential tools including centrifuges, incubators, spectrometers, autoclaves, laminar flow hoods, and analytical systems. These companies leverage expertise in automation, AI-enhanced workflows, high-precision instrumentation, and scalable manufacturing to meet demands for accuracy, efficiency, and compliance in research, clinical diagnostics, and biotech applications. Their portfolios support diverse needs from basic lab operations to advanced omics and molecular biology. By focusing on technological integration, product launches, and global distribution, they reinforce the Laboratory Equipment Market's growth and its critical role in advancing scientific discovery, healthcare diagnostics, and pharmaceutical development worldwide.
Individually and in synergy, these firms' strengths enhance competitive differentiation and market expansion within the Laboratory Equipment Market through R&D leadership, comprehensive portfolios, and strategic advancements. Thermo Fisher Scientific and Agilent Technologies lead with integrated platforms, automation, and recent launches like mass spectrometry systems. Bruker and Shimadzu excel in analytical precision tools. Eppendorf, Bio-Rad, and Beckman Coulter contribute specialized centrifuges and biotech solutions. BD, Roche, and PerkinElmer bolster diagnostics and life sciences offerings. Together, they advance the market by combining cutting-edge automation, AI/robotics integration, sustainability focus, and partnerships, enabling labs to achieve faster, more reliable results in high-demand fields.

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United States: Recent Industry Developments
✅ In June 2024, Thermo Fisher Scientific released the Stellar mass spectrometry platform at the ASMS conference, offering high sensitivity, fast throughput, and ease of use for translational omics research.
✅ North America (led by the US) dominates with strong healthcare infrastructure, biotech/pharma presence, government funding, and frequent innovations in automation and analytical tools.
Japan: Recent Industry Developments
✅ Japanese leaders like Shimadzu Corporation continue advancing analytical instrumentation globally, with focus on precision spectroscopy and chromatography for research and diagnostics, aligned with Japan's strong emphasis on technology-driven science and R&D.
Segment Covered in the Laboratory Equipment Market:
By Equipment
Centrifuges dominate due to essential separation roles in biochemistry, clinical, and molecular biology (e.g., blood components, proteins, nucleic acids), bolstered by recent advanced launches. Other segments include Incubators, Laminar Flow Hood, Micro Manipulation Systems, Lab Air Filtration System, Scopes, Sonicators & Homogenizers, Autoclaves & Sterilizers, Spectrophotometer & Microarray Equipment, and Others.
By Application
Biochemistry leads, followed by Endocrinology, Microbiology, Genetic Testing, and Others, driven by diagnostic and research needs.
By Material
Borosilicate Glass, Polystyrene, Metal, Ceramic, Polypropylene, Quartz.
By End-User
Diagnostic Centers, Pharmaceutical and Biotechnology Industries, Academic and Research Institutes.

Regional Analysis
North America - Largest Share
North America holds the largest share due to advanced healthcare infrastructure, major biotech/pharma firms, robust R&D funding, technological adoption, and high procedure volumes in hospitals/research facilities.
Europe - Significant Share
Europe maintains steady growth through strong research ecosystems and regulatory standards.
Asia Pacific - Fastest-Growing
Asia Pacific grows fastest, driven by economic development, rising healthcare/research investments, government policies in China/India, and expanding infrastructure for sophisticated equipment demand.
Latin America, Middle East & Africa - Emerging Shares
Growth supported by improving research capabilities and healthcare needs.

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