Laboratory Equipment and Disposables Market Projected to Reach USD 55 Billion by 2030, Driven by Advancements in Research and Diagnostics
The global laboratory equipment and disposables market was valued at USD 33 billion in 2022 and is projected to reach USD 55 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 7% from 2023 to 2030, according to Next Move Strategy Consulting.
Market Segmentation
The laboratory equipment and disposables market is categorized based on product type, application, and end user:
- Product Type: Equipment and Disposables
- Application: Food & Pharmaceutical, Petroleum & Chemical, and Others
- End User: Hospitals, Laboratories, and Others
Geographical Analysis
North America is expected to hold a significant market share due to advanced healthcare infrastructure and substantial investments in research and development. Asia-Pacific is anticipated to witness substantial growth driven by increasing healthcare investments and rising demand for diagnostic services.
Major Players
Key players in the laboratory equipment and disposables market include:
- Agilent Technologies
- PerkinElmer Inc.
- Bio-Rad Laboratories
- Waters Corporation
- Thermo Fisher Scientific Inc.
- Shimadzu Corporation
- Fujifilm Irvine Scientific
- Baker Company Inc.
- Sartorius AG
- Becton Dickinson and Company
Emerging Trends
- Integration of Artificial Intelligence and Automation: The incorporation of AI and automation in laboratory processes is enhancing efficiency and accuracy, driving market growth.
- Point-of-Care Testing: The rise in point-of-care testing is increasing demand for portable and user-friendly laboratory equipment and disposables.
- Personalized Medicine: Advancements in genomics and diagnostics are fueling the need for specialized laboratory equipment and consumables.
Conclusion
The laboratory equipment and disposables market is poised for significant growth, driven by technological advancements, increasing demand for diagnostic services, and a focus on personalized medicine. Companies investing in innovation and strategic partnerships are well-positioned to capitalize on the opportunities presented by this expanding market.
About Next Move Strategy Consulting:
Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every Bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors.
The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry. We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery Solutions that range from the pre consultation to after-sales services, provide an excellent client Experience and ensure right strategic decision making for businesses
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