Laboratory Equipment Market Exploration, Trends, Analysis and Forecast by 2022-2028

 

Laboratory Equipment Market 

The primary drivers of the Laboratory Equipment Market expansion are the rapidly expanding pharmaceutical and biotechnology sectors, increased government support for academic and research institutions, and rising R&D expenditures by pharmaceutical and biotechnology firms. Other significant growth drivers include the rising incidence of acute and chronic diseases in the world, the increased demand for precise disease diagnosis, the expanding use of safety testing procedures in the pharmaceutical and food industries, and rising government funding for biomedical research and development initiatives. During the forecast period, all of the aforementioned factors are anticipated to support market expansion.

The Laboratory Equipment Market is divided into three categories based on the end-user types: pharmaceutical and biotechnology firms, clinical and diagnostic labs, and academic and research organisations. The greatest portion of the market is anticipated to be occupied by pharmaceutical and biotechnology firms over the forecasted period. The demand for maintenance services is anticipated to rise as pharma and biotech companies increasingly implement lab automation techniques. This is because any malfunctions might possibly halt automated processes and cause large losses for laboratories. These reasons have led to a growth in recent years in expenditure on the purchase of laboratory equipment for R&D in the life sciences, which is anticipated to fuel demand for a range of services like preventative and corrective maintenance.

Services for Laboratory Equipment such as validation, calibration, and laboratory repair and maintenance help to optimise lab operations, reduce downtime, and enhance lab production and test results. The most well-known laboratory equipment services include equipment servicing, maintenance services, user training, installation and modification, and equipment validation and calibration.

Equipment Type

·        General instrument

·        Analytical instrument

·        Specialty instrument

End Users-

·        Academic laboratory

·        Research laboratory

·        Pharmaceutical laboratory

·        Clinical and diagnostic laboratory

Major Companies involved are-

·        Agilent Technologies, Inc.

·        Becton, Dickinson and Company

·        Bio-Rad Laboratories, Inc.

·        Eppendorf AG

·        Danaher Corporation

·        PerkinElmer, Inc.

·        Pace Analytical Services, LLC

·        Siemens Healthineers

·        Thermo Fisher Scientific, Inc. 

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