“Technological advancements in laboratory equipment, surge in investments in private and public healthcare, and rise in research activities regarding life science and biotechnology drive the growth of the global laboratory equipment and disposables market.”
The global laboratory equipment and disposables market garnered $24.2 billion in 2017, and is estimated to generate $37.8 billion in 2025, registering a CAGR of 5.7% from 2018 to 2025. The report offers an extensive analysis of top winning strategies, drivers & opportunities, key investment pockets, market size & share, key segments, and competitive landscape.
Technological advancements in laboratory equipment, surge in investments in private and public healthcare, supportive insurance policies for laboratory equipment, and rise in research activities regarding life science and biotechnology drive the growth of the global laboratory equipment and disposables market. On the other hand, expensive nature of technologically advanced laboratory equipment and scarcity of clinical laboratories in few countries hinder the market growth. On the other hand, high potential in emerging countries and rise in adoption of clinical diagnostic testing across the world offer new opportunities in the industry.
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Based on product, the disposables segment held nearly two-third of the total market share in 2017 and is estimated to maintain its dominance during the forecast period. This is due to its crucial role in every laboratory process, surge in number of R&D activities, and increase in number of diagnostic procedures. However, the equipment segment is expected to register the highest CAGR of 6.1% during the forecast period. This is attributed to rise in awareness regarding advanced equipment in developing countries and increase in number of laboratories.
Based on region, North America held nearly two-fifth of the total share and is estimated to maintain its lead position by 2025. This is due to well-established healthcare infrastructure and increase in prevalence of infectious diseases requiring laboratory testing in the region. On the other hand, Asia-Pacific is expected to register the highest CAGR of 7.4% from 2018 to 2025. Factors such as increase in healthcare expenditure in regions including Japan, China, and India along with rise in government healthcare investments.
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The key market players discussed in the research include Bio-Rad Laboratories, Sartorius AG, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., and others. These market players have adopted various strategies such as expansions, partnerships, mergers & acquisitions, collaborations, joint ventures, and others to gain a strong position in the industry.
Scope of The Report
|Market size available for years||2017-2025|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||Product Type and Disposables|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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