Global Laboratory Equipment Services Market 2025
The global laboratory equipment market is projected to expand at a compound
annual growth rate (CAGR) of 8.0% during the 2018-2023 period and will reach
USD 84.4 Bn by 2023. Increasing life sciences research is responsible for a
major part of the huge demand for laboratory equipment across the globe. The
market is segmented based on technologies like spectroscopy, chromatography,
flow cytometry, next-generation sequencing, etc. Increase in the incidence of
chronic diseases such as diabetes and respiratory ailments, and the higher
demand for timely and early detection of diseases will aid the growth of the
market in the near future.
Segmentation
based on technologies
Based on technologies, the ‘other’ technologies the segment had the highest market share (45.8%) in 2018, owing to a growing
geriatric population, rapidly emerging diagnostics centers and hospitals, and
technological advancements. Time-consuming operations and mechanical failure of
equipment are major challenges faced by users. It is followed by the
spectroscopy segment, with a market share of 21.3% in 2018. This is due to the
increased demand for spectrometers in the life sciences sector for the analysis
of drugs and biomolecules.
Regional
insights
The North America laboratory equipment market is
projected to expand at a CAGR of 7.8% during the 2018-2023 period, leading to
global revenue of USD 33.7 Bn by 2023. An increasing number of clinical trials
and higher funding for life sciences research will aid the growth of the
market. Europe, a region characterized by high awareness and a wide range of
laboratory equipment, is anticipated to expand at a CAGR of 7.9% during the
forecast period. The Asia-Pacific laboratory equipment market is expected to
expand at the highest CAGR (8.4%) during the 2018-2023 period. Latin America,
and the Middle East and Africa markets, still in the nascent stages, will also
experience high growth.
Companies
covered
• Danaher Corporation
• Thermo Fischer
• Agilent Technologies
• Waters Corporation
• PerkinElmer Corporation
• Bio-Rad Laboratories
• Shimadzu Corporation
• Bruker Corporation
Contact
Details:
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Enterprise
Phone:
+91 998 729 5242 | contact@aarkstore.com
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