What is the global market size of Life Sciences and Laboratory Equipment Market?

Global Life Sciences and Laboratory Equipment Market size was valued at USD 48.6 billion in 2021 and is poised to grow from USD 51.4 billion in 2022 to USD 62.1 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

Life Sciences and Laboratory Equipment Market Size, Share, Growth Analysis, By Equipment Type(Cold storage, Lab ovens & furnaces, liquid handling, Lab centrifuges & shakers), By Technology Type(Spectroscopy, chromatography, PCR, immunoassays), By Application(Cell culture & cell therapy, cancer research, drug discovery, genomics), By End user(clinical and diagnostics, research, academic & government institutions, pharmaceuticals & biotechnology), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2033 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 136 | Figures: 77

Life Sciences and Laboratory Equipment Market Dynamics

Drivers

Rising Prevalence of Infectious Diseases

Infectious diseases such as HIV, Ebola, TB, and others are increasing rapidly. This factor is majorly attributed to the growth of the global market. As per World Health Organization survey, about 1.4 million people are suffering from TB, so the demand for equipment such as homogenizers, spectrophotometers are increasing rapidly. Hence, it helps to propel the market growth.

Life Sciences and Laboratory Equipment Market Report Snapshots

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Life Sciences and Laboratory Equipment Market size was valued at USD 51.4 billion in 2022 and is poised to grow from USD 54.48 billion in 2023 to USD 86.84 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The global life sciences and laboratory equipment market is highly fragmented in nature owing to the presence of multiple players. Major players adopted strategic development such as merger & acquisitions, collaboration & partnership, and others to produce innovative products. Key players adopted the advanced technologies to strengthen their position in the global market. 'Thermo Fisher Scientific Inc.', 'Danaher Corporation', 'Agilent Technologies, Inc. ', 'Illumina, Inc. ', 'Waters Corporation', 'Bio-Rad Laboratories, Inc. ', 'PerkinElmer, Inc.', 'Bruker Corporation', 'Qiagen N.V.', 'GE Healthcare Life Sciences', 'Becton, Dickinson and Company', 'Merck KGaA', 'Shimadzu Corporation', 'Sartorius AG', 'Charles River Laboratories International, Inc.', 'Lonza Group AG', 'Eppendorf AG', 'Olympus Corporation', 'Bio-Techne Corporation', 'F. Hoffmann-La Roche AG'

Infectious diseases such as HIV, Ebola, TB, and others are increasing rapidly. This factor is majorly attributed to the growth of the global market. As per World Health Organization survey, about 1.4 million people are suffering from TB, so the demand for equipment such as homogenizers, spectrophotometers are increasing rapidly. Hence, it helps to propel the market growth.

Wide use of wireless lab equipment such as Smart Tracker Bluetooth Temperature Data Logger that brings the temperature tracking right to your smartphones to ensure the cold chain has been preserved during transport or storage. It has multiple features – Bluetooth connectivity, small size fits easily into any type of container, set parameters and view complete temperature readings and history with free Smart Tracker mobile app.

The Asia Pacific region is expected to dominate the global life sciences and laboratory equipment market during the forecast period. The growth of the market is attributed to rising prevalence of infectious diseases that need lab testing, high healthcare expenditure, and favorable reimbursement policies. In addition, adoption of advanced technologies is also helping to propel the market growth.

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Life Sciences and Laboratory Equipment Market Dynamics

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