The laboratory equipment and disposables market was valued at $30,012.81 million in 2021 and is estimated to reach $53,273.02 million by 2031, exhibiting a CAGR of 5.9% from 2022 to 2031.
Laboratory equipment and disposables are essential tools used in various scientific fields for conducting experiments, tests, and analysis of samples in the diagnostic labs and research labs. It includes devices and systems such as microscopes, centrifuges, pipettes, thermometers, spectrophotometers, balances, incubators, autoclaves, and others. These tools are used to observe and measure the properties of substances, analyze and test samples, and to carry out a wide range of experiments and research. On the other hand, laboratory disposables refer to the single-use or consumable products used in a laboratory and research centers. Disposables products include items such as petri dishes, test tubes, disposable gloves, pipette tips, cell culture consumables, cell culture medias, cell imaging consumables and others. As laboratory disposables are single-use products, they assist in maintaining cleanliness and hygiene and avoid cross contamination during the analysis.
Both laboratory equipment and disposables have a wide range of applications in various scientific fields, including hospitals, medical and clinical laboratories, life sciences, chemical and physical sciences, environmental sciences, and forensics. These tools and products play a crucial role in advancing scientific knowledge and solving complex problems in various research fields. In hospitals, medical and clinical laboratories, laboratory equipment and disposables are used for diagnostic testing and analysis of blood cells, tissue samples, and other specimens to diagnose diseases. In addition, it also has wide application in separation of blood components, such as red blood cells and plasma, for diagnostic testing and for collection and storage specimens for further analysis. Hence, aforementioned applications of laboratory equipment and disposables in healthcare and diagnostic field is continuously increasing its demand, and thereby is driving the growth of the market.
Furthermore, major factors driving the growth of laboratory equipment and disposables market are the technological advancements in laboratory equipment, rise in private and public healthcare investments, favorable insurance policies related to laboratory equipment and surge in research related to life science and biotechnology. Laboratory equipment has undergone significant advancements in its technologies, which have led to major improvements in accuracy and efficiency of the devices. These advancements have also increased the speed and accuracy of laboratory testing and analysis, thereby reduced the risk of errors and improved the reliability of results. Some of the key technological advancements in laboratory equipment include automation, miniaturization, improved sensitivity, digitalization, and integration. The automation of instruments for sample preparation and analysis has minimized human error. Furthermore, integration of multiple laboratory tools and processes into single instrument, have streamlined laboratory workflows and improved efficiency of clinical testing. This is driving the growth of the market.
Moreover, the trend towards miniaturization of laboratory equipment has made it possible to perform complex tests and analysis using small, portable devices. Along with advances in sensor technology sensitivity has been improved which can detect smaller quantities of substances and measure more subtle changes, improving the accuracy of the test. These technological advances in laboratory equipment and disposables are further increasing its demand and thus boosting the growth of the market. In addition, key market players are adopting strategies such as product development, product launch and product approvals in the market, which is further anticipated to drive the market growth. For instance, in March 2022, Shimadzu Corporation launched the IRXross, a new Fourier transform infrared spectrophotometer which has approximately twice the sensitivity and resolution of its predecessor, the IRAffinity-1S. Also, in January 2023, Shimadzu Corporation launched the AIMsight infrared microscope in Japan and overseas, which easily and automatically measures micro targets by irradiating them with infrared rays, and then investigating the reflectance and transmittance.
Furthermore, increase in incidences of infectious and viral disease and severe outbreaks in recent years has also contributed to the growth of laboratory equipment and disposables market. For instance, the rise in incidence of infectious diseases such as COVID-19 outbreak, have not only increased demand for laboratory equipment and disposable supplies but has also led to an increased emphasis on laboratory testing, research, and development to find treatments and vaccines. Due to the pandemic, demand for laboratory equipment and disposable supplies, such as personal protective equipment (PPE), has significantly increased. This has resulted in a significant boost in the global laboratory equipment and disposables market.
The laboratory equipment and disposables market is segmented on the basis of product type, and region. By product type, the market is categorized into equipment and disposables. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the laboratory equipment and disposables market are Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, FUJIFILM Holdings Corporation, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation.
Laboratory equipment and disposables are essential tools used in various scientific fields for conducting experiments, tests, and analysis of samples in the diagnostic labs and research labs. It includes devices and systems such as microscopes, centrifuges, pipettes, thermometers, spectrophotometers, balances, incubators, autoclaves, and others. These tools are used to observe and measure the properties of substances, analyze and test samples, and to carry out a wide range of experiments and research. On the other hand, laboratory disposables refer to the single-use or consumable products used in a laboratory and research centers. Disposables products include items such as petri dishes, test tubes, disposable gloves, pipette tips, cell culture consumables, cell culture medias, cell imaging consumables and others. As laboratory disposables are single-use products, they assist in maintaining cleanliness and hygiene and avoid cross contamination during the analysis.
Both laboratory equipment and disposables have a wide range of applications in various scientific fields, including hospitals, medical and clinical laboratories, life sciences, chemical and physical sciences, environmental sciences, and forensics. These tools and products play a crucial role in advancing scientific knowledge and solving complex problems in various research fields. In hospitals, medical and clinical laboratories, laboratory equipment and disposables are used for diagnostic testing and analysis of blood cells, tissue samples, and other specimens to diagnose diseases. In addition, it also has wide application in separation of blood components, such as red blood cells and plasma, for diagnostic testing and for collection and storage specimens for further analysis. Hence, aforementioned applications of laboratory equipment and disposables in healthcare and diagnostic field is continuously increasing its demand, and thereby is driving the growth of the market.
Furthermore, major factors driving the growth of laboratory equipment and disposables market are the technological advancements in laboratory equipment, rise in private and public healthcare investments, favorable insurance policies related to laboratory equipment and surge in research related to life science and biotechnology. Laboratory equipment has undergone significant advancements in its technologies, which have led to major improvements in accuracy and efficiency of the devices. These advancements have also increased the speed and accuracy of laboratory testing and analysis, thereby reduced the risk of errors and improved the reliability of results. Some of the key technological advancements in laboratory equipment include automation, miniaturization, improved sensitivity, digitalization, and integration. The automation of instruments for sample preparation and analysis has minimized human error. Furthermore, integration of multiple laboratory tools and processes into single instrument, have streamlined laboratory workflows and improved efficiency of clinical testing. This is driving the growth of the market.
Moreover, the trend towards miniaturization of laboratory equipment has made it possible to perform complex tests and analysis using small, portable devices. Along with advances in sensor technology sensitivity has been improved which can detect smaller quantities of substances and measure more subtle changes, improving the accuracy of the test. These technological advances in laboratory equipment and disposables are further increasing its demand and thus boosting the growth of the market. In addition, key market players are adopting strategies such as product development, product launch and product approvals in the market, which is further anticipated to drive the market growth. For instance, in March 2022, Shimadzu Corporation launched the IRXross, a new Fourier transform infrared spectrophotometer which has approximately twice the sensitivity and resolution of its predecessor, the IRAffinity-1S. Also, in January 2023, Shimadzu Corporation launched the AIMsight infrared microscope in Japan and overseas, which easily and automatically measures micro targets by irradiating them with infrared rays, and then investigating the reflectance and transmittance.
Furthermore, increase in incidences of infectious and viral disease and severe outbreaks in recent years has also contributed to the growth of laboratory equipment and disposables market. For instance, the rise in incidence of infectious diseases such as COVID-19 outbreak, have not only increased demand for laboratory equipment and disposable supplies but has also led to an increased emphasis on laboratory testing, research, and development to find treatments and vaccines. Due to the pandemic, demand for laboratory equipment and disposable supplies, such as personal protective equipment (PPE), has significantly increased. This has resulted in a significant boost in the global laboratory equipment and disposables market.
The laboratory equipment and disposables market is segmented on the basis of product type, and region. By product type, the market is categorized into equipment and disposables. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the laboratory equipment and disposables market are Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, FUJIFILM Holdings Corporation, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the laboratory equipment and disposables market analysis from 2021 to 2031 to identify the prevailing laboratory equipment and disposables market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the laboratory equipment and disposables market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global laboratory equipment and disposables market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Equipment
- Type
- Incubators
- Laminar Flow Hood
- Micro Manipulation Systems
- Centrifuges
- Lab Air Filtration System
- Scopes
- Sonicators and Homogenizers
- Autoclaves and Sterilizers
- Spectrophotometers and Microarray Equipment
- Others
- Disposables
- Type
- Pipettes
- Tips
- Tubes
- Cuvettes
- Dishes
- Gloves
- Masks
- Cell Imaging Consumables
- Cell Culture Consumables
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Bruker Corporation
- Waters Corporation
- Agilent Technologies Inc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- FUJIFILM Holdings Corporation
- PerkinElmer Inc.
- Sartorius AG
- Thermo Fisher Scientific Inc.
- Shimadzu Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LABORATORY EQUIPMENT AND DISPOSABLES MARKET, BY PRODUCT TYPE
CHAPTER 5: LABORATORY EQUIPMENT AND DISPOSABLES MARKET, BY REGION
CHAPTER 6: COMPETITIVE LANDSCAPE
CHAPTER 7: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Laboratory Equipment and Disposables Market," the laboratory equipment and disposables market was valued at $30,012.81 million in 2021 and is estimated to reach $53,273.02 million by 2031, growing at a CAGR of 5.9% from 2022 to 2031.Laboratories are equipped with a wide range of supplies and disposables to carry out various tasks in the facility. Incubators, laminar flow hoods, micro manipulation systems, centrifuges, lab air filtration systems, scopes, sonicators & homogenizers, autoclaves & sterilizers, spectrophotometers & microarray equipment, and other equipment are some of the various pieces of equipment used in the laboratories. These equipment are an essential part of scientific research, drug development and other research activities.
Key factors driving the growth of the laboratory equipment and disposables market include rise in private and public healthcare investments, favorable insurance policies related to laboratory equipment, technological advancements in laboratory equipment and surge in research related to life science and biotechnology. In addition, key market players in the market are investing on a large scale to innovate and develop new products which is highly advanced in nature. Companies are designing products which have an increased accuracy and are affordable to large as well small-scale laboratories. The key market players are investing heavily in research and development activities in order to stay competitive and meet the evolving needs of customers. By developing new and advanced products, these companies aiming to capture larger market share, increase revenue and profits, and gain a competitive edge over the rivals. In addition, the key players are adopting various strategies such as collaboration, partnership, product upgrade/development, expansion and others to remain in the competition.
For instance, in June 2020, Shimadzu launched the iMScope QT imaging mass microscope, with world-class analysis speeds and imaging capabilities, with an in-built optical microscope and can also be used as a liquid chromatograph mass spectrometer. Moreover, in December 2021, Sartorius completed the acquisition of ALS Automated Lab Solutions GmbH, which develops, manufactures and markets solutions for the automated analysis and isolation of cells. Thus, more such adoption of strategies by the key players is boosting the growth of the laboratory equipment and disposable market.
In addition, favorable insurance policies related to laboratory equipment drive the market growth for laboratory equipment and disposables. When laboratory equipment is insured, it helps to mitigate the financial risks associated with equipment damage, malfunction, or loss. Moreover, favorable insurance policies can also encourage laboratory operators to invest in preventive maintenance and regular calibration of their equipment. This encourages laboratory operators to invest in high-quality and expensive equipment, which further augment the growth of laboratory equipment and disposables market.
Furthermore, high market potential in emerging economies is anticipated to offer lucrative opportunities for the growth of the market. The regions such Asia-Pacific and LAMEA regions present lucrative opportunities for market players in various industries, including the healthcare market. The growing healthcare infrastructure and industrial development in these regions have created a favorable environment for healthcare companies to expand its business and offer its products and services to a larger market. Moreover, the investments made by developed countries in the Asia-Pacific region have further fueled the growth of the healthcare market. These investments have not only supported the development of healthcare infrastructure but have also encouraged the adoption of advanced medical technologies, which has is anticipated to boost the laboratory equipment and disposables market during the forecast period.
The laboratory equipment and disposables market is segmented on the basis of product type, and region. By product type, the market is categorized into equipment and disposables. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, FUJIFILM Holdings Corporation, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch, agreement, collaboration, partnership, product upgrade/development, expansion and geographical expansion to remain competitive and gain advantage over the competitors in the market. For instance,
in October 2022, Waters Corporation launched the Extraction+ Connected Device, a new software-controlled product for the Waters Andrew+ Pipetting Robot which automates the processing of biological, food, forensics, and environmental samples via solid phase extraction (SPE).
Key Market Insights
- By product type, disposable segment was the highest revenue contributor to the market and is estimated to reach $32760.24 million by 2031, with a CAGR of 5.5%. However, the equipment segment is estimated to be the fastest-growing segment with a CAGR of 6.6% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 7.2% during the forecast period
Companies Mentioned
- Bruker Corporation
- Waters Corporation
- Agilent Technologies Inc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- FUJIFILM Holdings Corporation
- PerkinElmer Inc.
- Sartorius AG
- Thermo Fisher Scientific Inc.
- Shimadzu Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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