ASEAN Laboratory Equipment Market Size, Share & Trends Analysis Report By Product (General, Analytical, Clinical, Support, Specialty), By End-use (Research Institutions, Healthcare, Veterinary), By Region, And Segment Forecasts, 2024 - 2030
ASEAN Laboratory Equipment Market Growth & Trends
The ASEAN laboratory equipment market size is anticipated to reach USD 7.38 billion by 2030, and is anticipated to expand at a CAGR of 8.43% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the increased investments and government funding for research activities. Technological advancements in laboratory equipment have driven the demand for cutting-edge tools that enhance precision and efficiency in research processes. The rise in testing organizations and the increasing biotechnology and pharmaceutical industries have further fueled the demand for laboratory equipment.
Moreover, the rising investments in the healthcare industry and government research funding to support research activities have contributed to advancements in scientific research and technological innovation across various industries within the ASEAN region. As governments prioritize scientific development, allocating substantial funds towards research activities has created a conducive environment for market growth, facilitating the adoption of sophisticated laboratory equipment to enhance efficiency, accuracy, and productivity in research endeavors.
According to Hong Kong Means Business, several government incentives aimed at promoting R&D in Thailand have led to significant growth in the ASEAN laboratory equipment industry. Thailand has been rigorously looking to increase its competitive edge in the lab equipment space, including new tax and financial incentives. Furthermore, Thailand's Ministry of Science and Technology (MIST) has collaborated with several venture capital firms to establish a USD 14.4 million investment fund to offer financial aid to several priority sectors, including medical & wellness tourism, agriculture & biotechnology, biofuels & biochemical, and medical services.
In addition, several key players are undertaking various initiatives such as acquisitions, product launches, and partnerships to strengthen their market positions. This strategy enables companies to increase their capabilities, improve their competencies, and expand their product portfolios. By doing so, companies can drive innovation, stay flexible, and quickly respond to the ever-changing needs of the suture anchor device, ultimately playing a significant role in its growth. For instance, in March 2023, Bio-Rad Laboratories, Inc. launched the PTC Tempo Deepwell Thermal Cyclers and PTC Tempo 96, specifically designed to enhance & optimize PCR applications, including cloning, sequencing, and genotyping.
ASEAN Laboratory Equipment Market Report Highlights
- In 2023, the general segment dominated the product segment, due to the wide range of applications and the increasing demand for general laboratory equipment, such as centrifuges, microscopes, and incubators, across various industries, including pharmaceuticals, biotechnology, and environmental testing
- Healthcare segment dominated the end use segment in 2023 owing to the high demand for diagnostic, monitoring, and treatment-related equipment
- Indonesia held the largest share in 2023 due to the country has highly developed R&D infrastructure, which has constant requirements for state-of-the-art laboratory equipment
- Market players adopt several strategic initiatives to increase product reach and improve product availability in diverse geographic areas
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Product
- 1.1.2. End-use
- 1.1.3. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR’s internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.2. Approach 1: Commodity flow approach
- 1.6.3. Volume price analysis (Model 2)
- 1.6.4. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. End-use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
- Chapter 3. ASEAN Laboratory Equipment Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Rising investments and government research funding to support research activities
- 3.2.1.2. Technological advancements in the field of laboratory equipment
- 3.2.1.3. Rise in the number of testing organizations along with growth of biotechnology and pharmaceutical industries
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost of technologically advanced laboratory equipment
- 3.3. ASEAN Laboratory Equipment Market Analysis Tools
- 3.3.1. Industry Analysis - Porter’s
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- Chapter 4. ASEAN Laboratory Equipment Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.1.1. General
- 4.1.2. Analytical
- 4.1.3. Clinical
- 4.1.4. Support
- 4.1.5. Specialty
- 4.2. Product Market Share, 2023 & 2030
- 4.3. Segment Dashboard
- 4.4. ASEAN Laboratory Equipment Market by Product Outlook
- 4.5. Market Size & Forecasts and Trend Analyses, 2018 - 2030 for the following
- 4.5.1. General
- 4.5.1.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 4.5.2. Analytical
- 4.5.2.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 4.5.3. Clinical
- 4.5.3.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 4.5.4. Support
- 4.5.4.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 4.5.5. Specialty
- 4.5.5.1. Market estimates and forecast 2018 - 2030 (USD Million)
- Chapter 5. ASEAN Laboratory Equipment Market: End-use Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.1.1. Research Institutions
- 5.1.2. Healthcare
- 5.1.3. Veterinary
- 5.1.4. Others
- 5.2. End-use Market Share, 2023 & 2030
- 5.3. Segment Dashboard
- 5.4. ASEAN Laboratory Equipment Market by End-use Outlook
- 5.5. Market Size & Forecasts and Trend Analyses, 2018 - 2030 for the following
- 5.5.1. Research Institute
- 5.5.1.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 5.5.2. Healthcare
- 5.5.2.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 5.5.3. Veterinary
- 5.5.3.1. Market estimates and forecast 2018 - 2030 (USD Million)
- 5.5.4. Others
- 5.5.4.1. Market estimates and forecast 2018 - 2030 (USD Million)
- Chapter 6. ASEAN Laboratory Equipment Market: Regional Estimates & Trend Analysis
- 6.1. Regional Market Share Analysis, 2023 & 2030
- 6.2. Regional Market Dashboard
- 6.3. ASEAN Regional Market Snapshot
- 6.4. Market Size, & Forecasts Trend Analysis, 2018 - 2030 :
- 6.5. ASEAN
- 6.5.1. Brunei
- 6.5.1.1. Brunei market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.2. Cambodia
- 6.5.2.1. Cambodia market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.3. Indonesia
- 6.5.3.1. Indonesia market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.4. Malaysia
- 6.5.4.1. Malaysia market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.5. Philippines
- 6.5.5.1. Philippines market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.6. Singapore
- 6.5.6.1. Singapore market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.7. Thailand
- 6.5.7.1. Thailand market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.8. Vietnam
- 6.5.8.1. Vietnam market estimates and forecast, 2018 - 2030 (USD Million)
- 6.5.9. Others
- 6.5.9.1. Others market estimates and forecast, 2018 - 2030 (USD Million)
- Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company/Competition Categorization
- 7.2.1. Innovators
- 7.3. Vendor Landscape
- 7.3.1. List of key distributors and channel partners
- 7.3.2. Key customers
- 7.3.3. Key company market share analysis, 2023
- 7.3.4. Sartorius AG
- 7.3.4.1. Company overview
- 7.3.4.2. Financial performance
- 7.3.4.3. Product benchmarking
- 7.3.4.4. Strategic initiatives
- 7.3.5. Bio-Rad Laboratories, Inc
- 7.3.5.1. Company overview
- 7.3.5.2. Financial performance
- 7.3.5.3. Product benchmarking
- 7.3.5.4. Strategic initiatives
- 7.3.6. Thermo Fisher Scientific, Inc
- 7.3.6.1. Company overview
- 7.3.6.2. Financial performance
- 7.3.6.3. Product benchmarking
- 7.3.6.4. Strategic initiatives
- 7.3.7. Agilent Technologies, Inc
- 7.3.7.1. Company overview
- 7.3.7.2. Financial performance
- 7.3.7.3. Product benchmarking
- 7.3.7.4. Strategic initiatives
- 7.3.8. PerkinElmer Inc
- 7.3.8.1. Company overview
- 7.3.8.2. Financial performance
- 7.3.8.3. Product benchmarking
- 7.3.8.4. Strategic initiatives
- 7.3.9. Shimadzu Corporation
- 7.3.9.1. Company overview
- 7.3.9.2. Financial performance
- 7.3.9.3. Product benchmarking
- 7.3.9.4. Strategic initiatives
- 7.3.10. Waters Corporation
- 7.3.10.1. Company overview
- 7.3.10.2. Financial performance
- 7.3.10.3. Product benchmarking
- 7.3.10.4. Strategic initiatives
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