Laboratory Equipment Services Market By Equipment (Analytical Equipment, General Equipment, Specialty Equipment, Support Equipment) , By Service Type (Repair, Maintenance, Calibration, Validation, Other) By End User (Research Laboratories, Diagnostic Laboratories, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Laboratory Equipment Services Market
The laboratory equipment services market was valued at $15.1 billion in 2023 and is projected to reach $52.9 billion by 2033, growing at a CAGR of 13.4% from 2024 to 2033.
Laboratory equipment services aim to ensure the functionality & calibration of devices as per regulatory requirements and performance standards. The services are required in diverse industries such as healthcare, biotechnology, pharmaceuticals, academic research, environmental testing, food safety, and industrial testing. These services are classified into different categories, including installation, calibration, repair, maintenance, validation, and support.
Research activities in the healthcare & pharmaceutical industries have surged owing to consistent demand for ingenious diagnostics methods and medications with high efficacy. This has increased the utility of equipment in laboratories and research centers, driving the growth of the laboratory equipment services market. Furthermore, ensuring compliance with stringent regulatory standards such as the ISO standards and Good Laboratory Practices augments the development of the market. A notable trend gaining prominence in the laboratory equipment services market is the use of predictive maintenance technology for uninterrupted workflow. The predictive analytics and remote monitoring capabilities of the technology enable early identification of problems through real-time monitoring, thereby maximizing the uptime of equipment.
However, the lack of skilled technicians and high costs of maintenance services are the major restraints of the laboratory equipment services market. Moreover, the challenges associated with technological obsolescence owing to rapidly changing technologies and operational standards hamper the market growth significantly. On the contrary, increase in clinical trials and lack of appropriate research centers or laboratories are projected to boost the operations of equipment. For instance, a 2024 report by WCG—a clinical trials solutions providing company—on clinical research trends and insights states that a considerably high number of clinical trials have been started as compared to the number of research sites available for their conduction. This is poised to fuel the demand for efficient laboratory equipment services and open new avenues for the market.
Segment ReviewThe laboratory equipment services market is segmented into equipment, service type, end user, and region. On the basis of equipment, the market is divided into analytical equipment, general equipment, specialty equipment, and support equipment. Depending on service type, it is categorized into repair, maintenance, calibration, validation, and other. As per end user, it is classified into research laboratories, diagnostic laboratories, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of equipment, the analytical equipment segment is expected to dominate the market during the forecast period.
Depending on service type, the maintenance segment is projected to acquire a high stake in the market by 2033.
As per end user, the diagnostic laboratories segment is anticipated to be the highest shareholder throughout the forecast period.
Region wise, North America is predicted to be the highest revenue generator by 2033.
Competition AnalysisThe leading players operating in the global laboratory equipment services Market include Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Waters Corporation, PerkinElmer, Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Merck KGaA, Eppendorf AG, Sartorius AG, and F. Hoffmann-La Roche Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy EquipmentAnalytical Equipment
General Equipment
Specialty Equipment
Support Equipment
By Service TypeRepair
Maintenance
Calibration
Validation
Other
By End UserResearch Laboratories
Diagnostic Laboratories
Others
By RegionNorth 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 PlayersThermo Fisher Scientific Inc.
Agilent Technologies, Inc.
Waters Corporation
PerkinElmer, Inc.
Bio-Rad Laboratories, Inc.
Bruker Corporation
Merck KGaA
Eppendorf AG
Sartorius AG
F. Hoffmann-La Roche Ltd.