Market Size of Global Laboratory Equipment And Disposables Industry
| Study Period | 2019 - 2030 |
| Market Size (2024) | USD 35.02 Billion |
| Market Size (2029) | USD 51.58 Billion |
| CAGR (2024 - 2029) | 8.05 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Laboratory Equipment & Disposable Market Analysis
The Global Laboratory Equipment And Disposables Market size is estimated at USD 35.02 billion in 2024, and is expected to reach USD 51.58 billion by 2029, growing at a CAGR of 8.05% during the forecast period (2024-2029).
The Laboratory Equipment and Disposables Market is expected to grow due to increased demand for these product types from the biotechnology, pharmaceuticals, and medical devices industries. Rising public health concerns resulting in increased government and private sector investments are also expected to boost the market's growth. As a result of technological advancements, lab equipment manufacturers have developed innovative products, which have fueled the lab equipment and disposables market.
For instance, according to a report published by the International Federation of Pharmaceutical Manufacturers and Associations in 2022, the annual research and development spending was 7.3 times greater than that of the aerospace and defense industries and biopharmaceutical industry, And it was 6.5 times more than that of the chemicals industry and 1.5 times more than that of the software and computer services industry. As per the same report, in 2022, over 202 billion was estimated to be spent worldwide on biopharmaceutical research and development. The large investments in the market are considered to increase the demand for laboratory equipment and disposables in the development of biopharmaceuticals, thereby ultimately driving the market's growth.
In addition, the launch of technologically advanced products by various market players is expected to contribute to the market's growth over the forecast period. For instance, in April 2022, BYK-Gardner USA launched a benchtop spectrophotometer, the color2view, market's growth a revolution in color measurement in every respect. Similarly, in April 2021, Eppendorf introduced the Centrifuge 5910 Ri, a new centrifuge designed to improve laboratory efficiency. The new centrifuge succeeds the popular Centrifuge 5910 R, the flagship of Eppendorf's multipurpose centrifuge portfolio, which has served customers worldwide.
However, the high cost of technologically advanced laboratory equipment is the major restraining factor for the market studied.
Laboratory Equipment & Disposable Industry Segmentation
As per the scope of the report, laboratory equipment refers to the various tools and equipment used by scientists laboratory instruments a laboratory. This includes glassware, tools, and laboratory instruments to collect, process, and store specimens. Disposables, such as gloves and masks, are disposable products used for convenience during fieldwork. Laboratory Equipment and Disposables Market are segmented by Product Type (Equipment (Incubators, Laminar Flow Hood, Micromanipulation System, Centrifuges, and Others) and Disposable (Pipettes, tips, Tubes, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Global Laboratory Equipment And Disposables Market Size Summary
The laboratory equipment and disposables market is poised for significant growth, driven by increasing demand from the biotechnology, pharmaceuticals, and medical devices sectors. This growth is further supported by rising public health concerns, which have led to increased investments from both government and private sectors. Technological advancements have played a crucial role in this expansion, with manufacturers introducing innovative products that enhance laboratory efficiency and capabilities. The market is characterized by a diverse range of products, including pipettes, which are expected to see substantial growth due to their frequent use in research and development activities. The introduction of advanced pipetting technologies by key players is anticipated to further fuel this segment's expansion.
North America is projected to maintain a substantial share of the market, bolstered by the presence of major pharmaceutical and biotech companies and heightened research activities. The region's growth is also supported by significant investments in research and development, both from private companies and government initiatives. The market is fragmented, with numerous international and local companies competing for market share. Key players such as Agilent Technologies, Bio-Rad Laboratories, and Thermo Fisher Scientific are actively involved in product development and strategic initiatives to strengthen their market positions. These factors, combined with ongoing technological advancements and strategic partnerships, are expected to drive the market's growth over the forecast period.
Global Laboratory Equipment And Disposables Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Technological Advancements in the Field of Laboratory Equipment
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1.2.2 Increase in Number of Clinical Diagnostic Procedures
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1.2.3 Rise in Private and Public Healthcare Investments
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1.3 Market Restraints
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1.3.1 High Cost of Technologically Advanced Laboratory Equipment and Dearth of Clinical Laboratories
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Equipment
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2.1.1.1 Incubators
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2.1.1.2 Laminar Flow Hood
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2.1.1.3 Micromanipulation System
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2.1.1.4 Centrifuges
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2.1.1.5 Others
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2.1.2 Disposables
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2.1.2.1 Pipettes
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2.1.2.2 Tips
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2.1.2.3 Tubes
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2.1.2.4 Others
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Global Laboratory Equipment And Disposables Market Size FAQs
How big is the Global Laboratory Equipment And Disposables Market?
The Global Laboratory Equipment And Disposables Market size is expected to reach USD 35.02 billion in 2024 and grow at a CAGR of 8.05% to reach USD 51.58 billion by 2029.
What is the current Global Laboratory Equipment And Disposables Market size?
In 2024, the Global Laboratory Equipment And Disposables Market size is expected to reach USD 35.02 billion.
