Global $54 Billion Laboratory Supplies Markets to 2028: Rise in the Number of Testing Organizations, Along with the Growth of Biotech and Pharma Industries

News provided by

Aug 18, 2021, 09:45 ET

DUBLIN, Aug. 18, 2021 /PRNewswire/ -- The "Laboratory Supplies Market Size, Share & Trends Analysis Report by Product {Equipment (Autoclaves & Sterilizers, Spectrophotometer & Microarray Equipment), Disposables (Tubes, Masks)}, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global laboratory supplies market size is expected to reach USD 54.1 billion by 2028, expanding at a CAGR of 7.5%

Focus on R&D drives the demand for lab equipment market, thereby boosting the market growth.

In June 2019, the D.O.D's Defense Logistics Agency settled the bidding process for USD 312.0 million contracts, for lab equipment and supplies. There are instances of huge government spending in the category including White House's budget of 2020 that provides USD 134.0 billion for federal R&D, including significant investments in R&D facilities and equipment.

Laboratories have emerged as multipurpose research facilities in which various types of testing mechanisms, research analogies, and novel developments are carried out. This has also led to an increase in the demand for lab equipment and supplies market. Furthermore, the trend of research-based studies has been gaining traction over the past decade. This has resulted in the development of new laboratories in academic institutes, thereby boosting the market growth.

Recently, clinical laboratories have also gone through major technological advancements. With intense R&D going in the field of the pathogenesis of diseases and personalized medicine, advanced diagnostics methods and tests are being implemented extensively.

Technological improvements in instrumentation continue to bring real benefits that accrue from greater ease of use, increased capacity, speed of analysis, higher precision, operational efficiencies, enhanced reliability, improved safety, and numerous other intangibles.

Laboratory Supplies Market Report Highlights

Equipment segment dominated the market with a share of 63.0% in 2019 due to the high cost associated with them.
The disposables segment is anticipated to witness a rapid growth rate of 7.7% over the forecast period as they help in avoiding contamination and reducing errors in the procedures.
Among disposables, the tube segment accounted for a maximum share of 19.3% in 2019. They are mostly used in laboratories to view, store, and transport samples.
North America was the leading segment in terms of revenue and market share in 2019. It accounted for 37.0% of the market share in 2019 due to the increasing research activities being carried out in the region..

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Laboratory Supplies Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Phase
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.1.1. Rising investments and government research funding to support research activities
3.4.1.2. Technological advancements in the field of laboratory equipment
3.4.1.3. Rise in the number of testing organizations, along with the growth of biotechnology and pharmaceutical industries
3.4.2. Market Restraint Analysis
3.4.2.1. High cost of technologically advanced laboratory equipment
3.5. Laboratory Supplies: Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.2. PESTEL Analysis

Chapter 4. Laboratory Supplies Market: Segment Analysis, by Product, 2016 - 2028 (USD Million, Units)
4.1. Segment Dashboard
4.2. Product Market Share Analysis, 2020 & 2028
4.3. Laboratory Supplies Market, by Product, 2016 to 2028
4.4. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
4.4.1. Equipment
4.4.1.1. Incubators
4.4.1.2. Laminar flow hood
4.4.1.3. Micro manipulation systems
4.4.1.4. Centrifuges
4.4.1.5. Lab air filtration system
4.4.1.6. Scopes
4.4.1.7. Sonicators & homogenizers
4.4.1.8. Spectrophotometer and microarray equipment
4.4.1.9. Others
4.4.2. Disposables
4.4.2.1. Pipettes
4.4.2.2. Tips
4.4.2.3. Tubes
4.4.2.4. Cuvettes
4.4.2.5. Dishes
4.4.2.6. Gloves
4.4.2.7. Masks
4.4.2.8. Cell imaging consumables
4.4.2.9. Cell culture consumables

Chapter 5. Laboratory Supplies Market: Regional Outlook, 2016 - 2028 (USD Million, Units)
5.1. Regional Market Dashboard
5.2. Market Size, & Forecasts, and Trend Analysis, 2016 to 2028

Chapter 6. Competitive Analysis

Agilent Technologies Inc.
Bio-Rad Laboratories, Inc.
Bruker Corp
Danaher Corporation
Fujifilm Holdings Corporation
PerkinElmer Inc.
Sartorius AG
Shimadzu Corporation
Thermo Fisher Scientific, Inc.
Waters Corporation

For more information about this report visit https://www.researchandmarkets.com/r/3fitmo

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets