Laboratory Equipment and Disposables Market By Product Type (Equipment, Disposables): Global Opportunity Analysis and Industry Forecast, 2021-2031
The laboratory equipment and disposables market valued for $30,012.81 million in 2021 and is estimated to reach $53,273.02 million by 2031, exhibiting a CAGR of 5.9% from 2022 to 2031.
Laboratory equipment and disposables are essential tools used in various scientific fields for conducting experiments, tests, and analysis of samples in the diagnostic labs and research labs. It includes devices and systems such as microscopes, centrifuges, pipettes, thermometers, spectrophotometers, balances, incubators, autoclaves, and others. These tools are used to observe and measure the properties of substances, analyze and test samples, and to carry out a wide range of experiments and research. On the other hand, laboratory disposables refer to the single-use or consumable products used in a laboratory and research centers. Disposables products include items such as petri dishes, test tubes, disposable gloves, pipette tips, cell culture consumables, cell culture medias, cell imaging consumables and others. As laboratory disposables are single-use products, they assist in maintaining cleanliness and hygiene and avoid cross contamination during the analysis.
Both laboratory equipment and disposables have a wide range of applications in various scientific fields, including hospitals, medical and clinical laboratories, life sciences, chemical and physical sciences, environmental sciences, and forensics. These tools and products play a crucial role in advancing scientific knowledge and solving complex problems in various research fields. In hospitals, medical and clinical laboratories, laboratory equipment and disposables are used for diagnostic testing and analysis of blood cells, tissue samples, and other specimens to diagnose diseases. In addition, it also has wide application in separation of blood components, such as red blood cells and plasma, for diagnostic testing and for collection and storage specimens for further analysis. Hence, aforementioned applications of laboratory equipment and disposables in healthcare and diagnostic field is continuously increasing its demand, and thereby is driving the growth of the market.
Furthermore, major factors driving the growth of laboratory equipment and disposables market are the technological advancements in laboratory equipment, rise in private and public healthcare investments, favorable insurance policies related to laboratory equipment and surge in research related to life science and biotechnology. Laboratory equipment has undergone significant advancements in its technologies, which have led to major improvements in accuracy and efficiency of the devices. These advancements have also increased the speed and accuracy of laboratory testing and analysis, thereby reduced the risk of errors and improved the reliability of results. Some of the key technological advancements in laboratory equipment include automation, miniaturization, improved sensitivity, digitalization, and integration. The automation of instruments for sample preparation and analysis has minimized human error. Furthermore, integration of multiple laboratory tools and processes into single instrument, have streamlined laboratory workflows and improved efficiency of clinical testing. This is driving the growth of the market.
Moreover, the trend towards miniaturization of laboratory equipment has made it possible to perform complex tests and analysis using small, portable devices. Along with advances in sensor technology sensitivity has been improved which can detect smaller quantities of substances and measure more subtle changes, improving the accuracy of the test. These technological advances in laboratory equipment and disposables are further increasing its demand and thus boosting the growth of the market. In addition, key market players are adopting strategies such as product development, product launch and product approvals in the market, which is further anticipated to drive the market growth. For instance, in March 2022, Shimadzu Corporation launched the IRXross, a new Fourier transform infrared spectrophotometer which has approximately twice the sensitivity and resolution of its predecessor, the IRAffinity-1S. Also, in January 2023, Shimadzu Corporation launched the AIMsight infrared microscope in Japan and overseas, which easily and automatically measures micro targets by irradiating them with infrared rays, and then investigating the reflectance and transmittance.
Furthermore, increase in incidences of infectious and viral disease and severe outbreaks in recent years has also contributed to the growth of laboratory equipment and disposables market. For instance, the rise in incidence of infectious diseases such as COVID-19 outbreak, have not only increased demand for laboratory equipment and disposable supplies but has also led to an increased emphasis on laboratory testing, research, and development to find treatments and vaccines. Due to the pandemic, demand for laboratory equipment and disposable supplies, such as personal protective equipment (PPE), has significantly increased. This has resulted in a significant boost in the global laboratory equipment and disposables market.
The laboratory equipment and disposables market is segmented on the basis of product type, and region. By product type, the market is categorized into equipment and disposables. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the laboratory equipment and disposables market are Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, FUJIFILM Holdings Corporation, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the laboratory equipment and disposables market analysis from 2021 to 2031 to identify the prevailing laboratory equipment and disposables market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the laboratory equipment and disposables market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global laboratory equipment and disposables market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
Equipment
Type
Incubators
Laminar Flow Hood
Micro Manipulation Systems
Centrifuges
Lab Air Filtration System
Scopes
Sonicators and Homogenizers
Autoclaves and Sterilizers
Spectrophotometers and Microarray Equipment
Others
Disposables
Type
Pipettes
Tips
Tubes
Cuvettes
Dishes
Gloves
Masks
Cell Imaging Consumables
Cell Culture Consumables
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Bruker Corporation
Waters Corporation
Agilent Technologies Inc.
Bio-Rad Laboratories, Inc.
Danaher Corporation
FUJIFILM Holdings Corporation
PerkinElmer Inc.
Sartorius AG
Thermo Fisher Scientific Inc.
Shimadzu Corporation
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