As the life sciences industry continues to change, so does the need for pharmaceutical lab equipment. Today’s pharma industry must keep up with the latest technologies to improve efficiency, time-to-market, and cost effectiveness. Innovative instruments and equipment are essential to this end. As a result, the market for pharmaceutical lab equipment continues to grow.
Increasing number of research and development activities by pharmaceutical industries and academia is driving demand for lyophilization/ freeze drying equipment, is expected to propel the market growth. For instance, Pharmaceutical Research and Manufacturers of America’s (PhRMA) member, The United States in 2018 was the largest pharmaceutical market, generating about $484.8 billion which represented 40.4% of the $1.2 trillion generated worldwide. In 2019, the United States remained the world’s largest single pharmaceutical market, generating more than $490 billion of revenue.
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Pharmaceutical lab equipment market is expected to witness significant growth, owing to high adoption of freeze drying along with increasing number of drugs in clinical trials. According to the International Journal of Research in Pharmacy and Science, 2013, around 50% of the current biopharmaceuticals are lyophilized, representing the most common formulation strategy.
Furthermore, in April 2018, Bruker launched new INVENIO Fourier Transform Infrared (FT-IR) research spectrometer. The novel INVENIO is a combination of several innovations with proven Vertex 70 technologies such as unique FM technology for simultaneous mid and far IR spectroscopy. Such product development activities are also expected to boost the market growth.
High performance quality pharmaceutical lab equipment are considered as a growth opportunity for pharmaceutical industries. Increasing demand of autoclaves in pharmaceutical labs to sterilize laboratory glassware is expected to propel the pharmaceutical lab equipment market growth. Product launch with advanced technology is also expected to drive the steam autoclave market growth during the forecast period. For instance, in October 2018, Priorclave has unveiled new technological advances to its range of laboratory and research grade autoclave designs and performance. It is fitted with TACTROL® 3, this incorporates the very latest advances in microprocessor controls and Bee Live which gives the autoclave Wi-Fi connectivity and which will be demonstrated in real time.
Key Takeaways of the Pharmaceutical Lab Equipment Market:
- The pharmaceutical lab equipment market is expected to exhibit a CAGR of 4.3% over the forecast period, owing to increasing demand for highly potent pharmaceutical lab equipment and increasing research and development investment
- Among equipment type, spectroscopy instrument segment held dominant position in the pharmaceutical lab equipment market in 2018. Spectroscopy instruments enable industrial companies, universities, government, contract, and pharmaceutical laboratories to analyze a diverse range of sample types in order to meet growing research or evolving compliance requirements. For instance, in July 2018, PerkinElmer, Inc. launched its FL 6500 Pulse Xenon and FL 8500 Continuous Wave Fluorescence spectrometers.
- Companies operating in the pharmaceutical lab equipment market include, GE Healthcare, Agilent Technologies, Waters, Danaher, Thermo Fisher Scientific, Bruker, Eppendorf, Millipore, Shimadzu, Perkin Elmer, Brand GmbH, Pace Analytical, and Telstar
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Pharmaceutical Lab Equipment Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Pharmaceutical Lab Equipment Industry Impact
Chapter 2 Global Pharmaceutical Lab Equipment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Pharmaceutical Lab Equipment (Volume and Value) by Type
2.3 Global Pharmaceutical Lab Equipment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Pharmaceutical Lab Equipment Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Pharmaceutical Lab Equipment Market Analysis
Chapter 6 East Asia Pharmaceutical Lab Equipment Market Analysis
Chapter 7 Europe Pharmaceutical Lab Equipment Market Analysis
Chapter 8 South Asia Pharmaceutical Lab Equipment Market Analysis
Chapter 9 Southeast Asia Pharmaceutical Lab Equipment Market Analysis
Chapter 10 Middle East Pharmaceutical Lab Equipment Market Analysis
Chapter 11 Africa Pharmaceutical Lab Equipment Market Analysis
Chapter 12 Oceania Pharmaceutical Lab Equipment Market Analysis
Chapter 13 South America Pharmaceutical Lab Equipment Market Analysis
Chapter 14 Company Profiles and Key Figures in Pharmaceutical Lab Equipment Business
Chapter 15 Global Pharmaceutical Lab Equipment Market Forecast (2022-2028)
Chapter 16 Conclusions
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