The global lab supplies market size is expected to reach USD 49.6 billion by 2027, expanding at a CAGR of 7.1%, according to a new report by Grand View Research, Inc. 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.
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Lab 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.
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Lab Supplies Market
Segmentation
Grand View Research has segmented
the global lab supplies market based on product and region:
Laboratory Supplies
Product Outlook (Revenue, USD Million, 2016 - 2027)
- Equipment
- Incubators
- Laminar flow hood
- Micro manipulation systems
- Centrifuges
- Lab air filtration system
- Scopes
- Sonicators and homogenizers
- Autoclaves and sterilizers
- Spectrophotometer and
microarray equipment
- Others
- Disposables
- Pipettes
- Tips
- Tubes
- Cuvettes
- Dishes
- Gloves
- Masks
- Cell imaging consumables
- Cell culture consumables
Laboratory
Supplies Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- India
- Japan
- China
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players
of Laboratory Supply Market
- Agilent Technologies Inc.
- Danaher Corporation
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Fujifilm Holdings
Corporation (Irvine Scientific Sales Company, Inc.)
- PerkinElmer Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific,
Inc.
- Waters Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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