Laboratory Equipment Services Market | Growth, Trends, and Forecast (2021 - 2027)

Laboratory Equipment Services market is projected to grow at a CAGR of 12.67% during the forecasting period 2021-2027

The increasing number of research activities in the pharmaceutical and biotechnology industries, the need for successful and timely disease diagnosis, and the investments and government research funding to support biomedical research activities are all driving growth in the laboratory equipment service industry. However, the change from lab-based diagnosis to home-based/POC testing, as well as the high cost of service contracts, are limiting the market’s expansion. The industry is projected to be dominated by pharmaceutical and biotechnology firms. The increased amount of drug discovery research in these companies is largely responsible for this segment’s dominance. In 2021, North America is expected to dominate the industry. The APAC area, on the other hand, is expected to have the highest CAGR during the forecast era. The rising presence of major market players in emerging countries such as India and China, as well as an increasing number of CROs and life science R&D activities, are some of the main factors driving the market’s growth in the Asia Pacific region. 

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The Laboratory Equipment Services Market report has been categorized as below

By Equipment Type

• Analytical Equipment

• General Equipment

• Speciality Equipment

• Support Equipment

By Type

• Repair and Maintenance Services

• Calibration Services

• Validation services

• Other services

By Service Providers

• Standard Service Contracts

• Customized Service Contracts

By End User

• Pharmaceutical & Biotechnology Companies

• Academic & Research Institutions

• Clinical & Diagnostic Laboratories

 By Region

• North America

• US

• Canada

• Mexico

• Europe

• Germany

• France

• Italy

• UK

• Rest of Europe

• Asia Pacific

• Japan

• China

• India

• Australia

• Rest of Asia Pacific

• Rest of the World

• South America

• Middle East and Africa

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