South Africa Laboratory Supplies Market - By Product (Equipment, Disposables), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

South Africa Laboratory Supplies Market - By Product (Equipment, Disposables), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

South Africa Laboratory Supplies Market to Expand at a Steady CAGR of 8.25% during 2023–2029

South Africa laboratory supplies market is flourishing due to increasing adoption of technology advancements in the field of laboratory equipment and increasing investments and government research funding to support research activities.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects South Africa laboratory supplies market to grow at a CAGR of 8.25% during the forecast period between 2023 and 2029. Major growth drivers for South Africa laboratory supplies market include an increasing funding and investment in pharmaceutical and biotechnology R&D activities. Due to the consistent and constant supply of laboratory equipment, the market is likely to grow at a steady rate in the future years. The pandemic prompted an upsurge in coronavirus research. Laboratory product demand is also increasing as a result of technical advances in chemical and biological research. The rising volume of clinical laboratory tests and life science research studies is pushing up demand for laboratory disposables.

The market is also expected to earn ongoing demand from procurement managers in the pharmaceutical and healthcare sectors for a consistent supply of important laboratory gadgets and equipment. Hence, such aspects are expected to boost the expansion of South Africa laboratory supplies market during the period in analysis. However, excessive cost of technologically advanced laboratory equipment is anticipated to impede the growth of laboratory supplies market in South Africa.

South Africa Laboratory Supplies Market – Overview

Laboratory supplies are equipment, consumables, instruments, and machines used in the research, diagnostic, and manufacturing of various substances, pharmaceuticals, and pharmaceutical therapies. These materials also contain safety equipment and clothing to ensure that the personnel conducting the research have no adverse consequences. Lab supplies are used in laboratories to undertake controlled and exact tests, research, and experiments. Labware, lab trays, and lab pans are used in the lab to transport, store, and keep material. Lab utensils and instruments are used to properly and efficiently measure, mix, sort, handle, dispense, and analyze lab materials. Laboratory equipment is typically used to conduct an experiment or to collect measurements and data. A scientific instrument is a larger or more complex device. There are risks in many laboratories. Poisons, infectious agents, flammable, explosive, or radioactive chemicals, moving machinery, severe temperatures, lasers, strong magnetic fields, or high voltage are all potential hazards in the laboratory. As a result, safety precautions are critical. There are rules in place to reduce individual risk, and safety equipment is employed to safeguard lab users from injury or to assist in reacting to an emergency.

Impact of COVID-19 on South Africa Laboratory Supplies Market

COVID-19 had a positive impact on laboratory supplies market across South Africa. Covid-19 was legally declared a pandemic on March 11, 2020. Since then, the COVID-19 has caused surging demand for healthcare resources. The pandemic’s increasing local prevalence had a substantial impact on laboratory services and equipment. While the volume of COVID-19 diagnostic and management laboratory tests grew, including some with weak evidence to support their use, overall testing volumes declined dramatically. As a result, the need for laboratory supplies rises. Some manufacturers have taken steps to adapt to the increased demand for COVID-19.

South Africa Laboratory Supplies Market – By Product

Based on product, South Africa laboratory supplies market is bifurcated into Equipment and Disposables. The equipment segment is further divided into incubators, laminar flow hood, micro manipulation systems, centrifuges, lab air filtration system, scopes, sonicators and homogenizers, autoclaves and sterilizers, spectrophotometer and microarray equipment. Whereas, the disposables segment is sub divided into pipettes, tips, tubes, cuvettes, dishes, gloves, masks, cell imaging consumables, and cell culture consumables. Among them, the equipment segment held the highest share in the South Africa laboratory supplies market, followed by the disposables segment. The demand for laboratory equipment is driven by the increasing adoption of advanced laboratory technologies and the rising number of research and development activities in various industries.

Competitive Landscape

Major players operating in South Africa laboratory supplies market include Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Fujifilm Holdings Corporation, Agilent Technologies Inc., and PerkinElmer Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of South Africa Laboratory Supplies Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in South Africa Laboratory Supplies Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.