According to Arizton’s latest research report, laboratory equipment and consumables market will grow at a CAGR of 5.80% during 2022-2028.
Laboratory Equipment and Consumables Market Report Scope
|Market Size (2028)||USD 139.90 Billion|
|Market Size (2022)||USD 99.75 Billion|
|Market Segmentation||Product, Laboratory Type, and Geography|
|Geographic Analysis||North America, Europe, APAC, Latin America, and Middle East & Africa|
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Laboratory equipment services are the most integral and vital part of the laboratory industry. The growing number of laboratories and advanced products launched in the market drive the demand for lab equipment services. OEMs only deliver lab equipment services for a particular time after vendors launch the product due to the product being new in the market and developed by technologies. Multi-vendor lab equipment services are also known as LAM or single-source services. They are privately managed laboratory equipment maintenance services for multiple vendors from a single provider. Multi-vendor services are included but not limited to only one service. These services offer repair, inventory management, purchasing, installation, equipment logistics, calibration, and compliance. In contrast to contracting third parties for lab equipment services, this service model binds a group of laboratories to obtain many services. Lab networks help deliver services that are unavailable through multi-vendor service providers. This is a major benefit of multi-vendor lab equipment service providers. Some leading laboratory equipment manufacturing companies offer multi-vendor services. They are among the top lab equipment manufacturers and leading service providers in the global market. Vendors in the market experience competition from various service providers. Currently, two major lab equipment service providers are available in the market with 60% and 40% market penetration. The service providers are OEMs and third-party service providers. Almost all manufacturing companies offer lab equipment services for particular periods, such as bi-annual or annual services. Third-party service providers offer various services for multiple lab equipment brands with one point of contact. Both entities constantly try to hold major share and penetration.
North America to Lead the Market Growth
North America is the leading region in the global laboratory equipment services market, accounting for higher revenue generation and market share in 2022. It is expected to dominate the market during the forecast period. R&D activities across North America increase across every industry that require laboratories and associated tools. Increased R&D activities accelerate the demand for lab equipment services.
The region’s rapidly growing healthcare and life sciences sector delivers lucrative market growth opportunities. In healthcare sectors, the significant patient population demand for clinical and diagnostics tests fuels the clinical lab testing volume and impacts lab equipment conditions, where lab repair, maintenance, calibration, and other services are in high demand. Furthermore, the rapid development in pharma, biotech, and medical devices companies accelerates the demand for advanced and automated lab equipment where the need for preventive and other lab services is significantly high. The region has many hospitals, clinics, and other health laboratories. Vendors in North America have opportunities to focus on the healthcare industry with the application of lab equipment in these settings to achieve significant revenue.
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Key Company Profiles
- Agilent Technologies
- Bio-Rad Laboratories
- FUJIFILM Holding Corporation
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific
- Waters Corporation
Other Prominent Vendors
- Agappe Diagnostics
- altona Diagnostics
- Analyticon Biotechnologies
- Balio Diagnostics
- Bioway Biological Technology
- Boule Diagnostics
- CLINDIAG SYSTEMS
- CONTEC MEDICAL SYSTEMS
- Convergent Technologies
- cpc Diagnostics
- Corning Incorporated
- CPM Scientifica
- DiaSorin S.p.A.
- EKF Diagnostics Holdings plc
- Flow Robotics
- Greiner Bio-One International
- HiTec Zang
- Hudson Robotics
- Hamilton Company
- HighRes Biosolutions
- Integra Biosciences
- Ingersoll Rand
- METTLER TOLEDO
- Orochem Technologies
- SPT Labtech
- Siemens Healthineers
- Wuhan Bonnin Technology
- Drucker Diagnostics
- Erba Diagnostics
- Genrui Biotech
- High Technology
- Luxlighting Technology
- ACMAS Technologies
- Labtop Instruments
- ALSIN Technology Services
- BIONICS SCIENTIFIC TECHNOLOGIES
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- Product: Consumables & Lab Apparatus, IVD Equipment, and Core & General Lab Equipment
- Laboratory Type: Clinical & Diagnostics Labs, Pharma, Biotech, & Medical Device Companies, Academic & Research Lab, and Other Labs
- Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report:
- How big is the laboratory equipment and consumables market?
- What is the projected growth rate of the global laboratory equipment and consumables market?
- Who are the key players in the global laboratory equipment and consumables market?
- What are the rising trends in the laboratory equipment and consumables market?
- Which region holds the most significant global laboratory equipment and consumables market share?
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Arizton’s Expertise in the Healthcare Industry
Arizton offers syndicate and custom market intelligence & competitive intelligence solutions across MedTech, pharmaceuticals, and life sciences & biotechnology markets within the healthcare industry. Arizton’s healthcare vertical provides unbiased research and evidence-based analysis to support business decisions and comprehensive end-to-end solutions to its customers, covering all dimensions of the healthcare value chain. We track various devices (equipment, implants, and hospital supplies) and drugs (patented, generic, & OTC) across North America, Europe, APAC, Latin America, and the Middle East & Africa regions. The healthcare reports provide historic and forecast data for 20+ key countries worldwide. We track product approvals/launches, M&A activities, and collaboration/partnership activities among pharma/biotech, medical device, and life sciences companies. Our pharmaceutical portfolio tracks 15+ therapy areas with a major focus on immunology, oncology, rare & genetic diseases, dermatology, and metabolic diseases. Our medical devices and life sciences portfolio covers in-vitro diagnostics, healthcare IT, patient monitoring, cardiovascular devices, medical imaging, personal protective equipment, clinical laboratory services, and CMO/CDMO services.
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