Market Research Reports

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...