The Global Laboratory Equipment and Disposables Market size is estimated to be USD 27.02 billion in 2019 and is predicted to reach USD 48.69 billion by 2030 with a CAGR of 5.5% from 2020-2030. Laboratory Equipment and Disposables are the instruments which are used in the laboratory to carry out the research and other activities efficiently. There are different types of laboratories are there which carries different types of researches such pathology lab, diagnostic labs, microbiology labs and other which provide different sevices in the field of healthcare.
Market Dynamics and Trends
The improving and modernizing healthcare infrastructure as well as increased burden of chronic diseases in developing nations has proliferated the laboratory equipment and disposables market growth. Furthermore, increase in the research activities coupled with increase in the research laboratories are expected to increase the laboratory equipment and disposables market.
The other factors includes increase in technological advancement, increase in clinical diagnostics coupled with increase in insurance policies on the laboratory equipments are also expected to drive the market growth. However, high cost of the laboratory equipments and lack of skilled labor are expected to hamper the growth of laboratory equipment and disposables market. Moreover, increase in research and development activities coupled with increased investment and favorable government policies are expected create ample opportunities in the laboratory equipment and disposables market.
Market Segmentations and Scope of the Study:
The global laboratory equipment and disposables market share is analyzed on the basis of equipment type, disposables type and geography. On the basis of equipment type, the market is segmented into Incubators, Laminar Flow Hood, Micro Manipulation Systems, Centrifuges, Lab Air Filtration System, Scopes, Sonicators and Homogenizers, Autoclaves and Sterilizers, Spectrophotometers & Microarray Equipment and Others. On the basis of disposable type, the market is divided into Pipettes, Tips, Tubes, Cuvettes, Dishes, Gloves, Masks, Cell Imaging Consumables, and Cell Culture Consumables. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to account for the major market share over the forecast period owing to the increased adoption of laboratory equipments and consumables. Furthermore, presence of developed infrastructure and technological advancement are further expected to enhance the growth of laboratory equipment and disposables market.
Asia Pacific is expected to show rapid growth with increase in market share owing to the increased demand of clinical diagnostics and increase in research activities. Furthermore, favorable government policies coupled with increased investments in research and developments are expected to fuel the growth of laboratory equipment and disposables market.
Competitive Landscape
The laboratory equipment and disposables market, which is highly competitive, consists of various market players. Some of the major market players include Bio-Rad Laboratories, Agilent Technologies, Inc., Bruker Corporation, Fujifilm Irvine Scientific, Danaher Corp, PerkinElmer Inc., Shimadzu Corporation, Sartorius AG, Waters Corporation and Thermo Fisher Scientific Inc. among others.
Over the period of time there have been various developments taken in the market which are also expected to takes place in near future and contribute the overall market growth. For Instance, in December 2019, Bruker has announced the launch of the Luxendo TruLive3D Imager light-sheet imaging system. The new system features dual-sided illumination and highly efficient light collection for fast imaging of a broad range of biological samples in their native 3D environments. The TruLive3D Imager leverages the general benefits of single-plane illumination microscopy (SPIM) to enable rapid 3D imaging with minimal light exposure, confocal resolution and excellent contrast in 3D. An extended sample chamber enables multi-sample experiments and an integrated environmental chamber ensures long-term live observations of even the most delicate samples such as stem cells, primary human cells and organoids.
