The Worldwide Laboratory Supplies Industry is Expected to Reach $68.8 Billion by 2030: Technological Advancements in the Field of Laboratory Equipment Drives Growth
Global Laboratory Supplies Market
Dublin, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The "Laboratory Supplies Market Size, Share & Trends Analysis Report by Product (Equipment (Autoclaves & Sterilizers, Spectrophotometer & Microarray Equipment), Disposables (Tubes, Masks)), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global laboratory supplies market size is expected to reach USD 68.8 billion by 2030, expanding at a CAGR of 7.6% from 2022 to 2030, according to this report.
Agilent Technologies Inc.
Bio-Rad Laboratories, Inc.
Fujifilm Holdings Corporation
Thermo Fisher Scientific, Inc.
Rise in investment for R&D activities by countries, the amalgamation of lab equipment with state-of-the-art technology, and increase in demand for plastics in the healthcare industry due to its advantages over metal and glass, which includes cost-effectiveness, lightweight, versatility, and biocompatibility, are factors driving the market.
Laboratories have developed as multipurpose research facilities in which numerous types of testing mechanisms, research comparisons, and different developments are carried out. This has also led to a rise in the laboratory supply market demand. Moreover, the trend of lab supplies research has been gaining a strong grip over the past decade. This has resulted in the expansion of new laboratories in academic institutions, thereby driving the market growth.
Furthermore, clinical laboratories are also going through major technological developments. With intense research and development going on in the field of personalized medicine and the pathogenesis of diseases, advanced diagnostics procedures and tests are being executed widely.
The technological improvements in the laboratory continue to bring real benefits that increase from greater ease of use, speed of analysis, improved safety, higher precision, increased capacity, operational efficiencies, enhanced reliability, and numerous other intangibles.
Laboratory Supplies Market Report Highlights
The equipment segment dominated the market with a share of over 63.4% in 2021 due to the high costs associated with them
The disposables segment is anticipated to witness a rapid growth rate of 8.3% during the forecast period as they help in avoiding contamination and reducing errors in the procedures
Among disposables, the tube segment accounted for a maximum share of 19.2% in 2021. They are mostly used in laboratories to view, store, and transport samples
North America was the leading regional segment in terms of revenue and market share in 2021. It accounted for over 37.5% of the market share due to the increasing research activities being carried out in the region
No. of Pages
2022 - 2030
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.2. Regional scope
1.1.3. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
184.108.40.206. Approach 1: Commodity flow approach
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9.1. Objective 1: Understanding the market dynamics
1.9.2. Objective 2: Understanding the market estimates and forecasts
1.9.3. Objective 3: Understanding the attributes such as strategy framework, competitor categorization
1.9.4. Objective 4: Understanding the key product scope to conclude on the market size
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Laboratory Supplies Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Phase
3.4. Market Dynamics
3.4.1. Market Driver Analysis
220.127.116.11. Rising investments and government research funding to support research activities
18.104.22.168. Technological advancements in the field of laboratory equipment
22.214.171.124. Rise in the number of testing organizations, along with the growth of biotechnology and pharmaceutical industries
3.4.2. Market Restraint Analysis
126.96.36.199. High cost of technologically advanced laboratory equipment
3.5. Laboratory Supplies: Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.2. PESTEL Analysis
3.6. Impact of COVID-19 on Laboratory Supplies Market
Chapter 4. Laboratory Supplies Market: Segment Analysis, by Product, 2018 - 2030 (USD Million)
4.1. Segment Dashboard
4.2. Product Market Share Analysis, 2021 & 2030
4.3. Laboratory Supplies Market, by Product, 2018 to 2030
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
188.8.131.52. Laminar flow hood
184.108.40.206. Micro manipulation systems
220.127.116.11. Lab air filtration system
18.104.22.168. Sonicators & homogenizers
22.214.171.124. Spectrophotometer and microarray equipment
126.96.36.199. Cell imaging consumables
188.8.131.52. Cell culture consumables
Chapter 5. Laboratory Supplies Market: Regional Outlook, 2018 - 2030 (USD Million)
Chapter 6. Laboratory Supplies Market- Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/drcrh0
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