The lab supplies market size has grown strongly in recent years. It will grow from $35.56 billion in 2023 to $38.65 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The expansion observed in the historical period can be ascribed to advancements in scientific research and discovery, progress in biotechnology and pharmaceuticals, increasing demands in healthcare diagnostics and testing, contributions from academic and educational institutions, and the requirements of industrial quality control and assurance.
The lab supplies market size is expected to see strong growth in the next few years. It will grow to $53.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be linked to an upswing in life sciences research, a heightened emphasis on environmental testing, an expanding role for point-of-care testing, the global response to health emergencies, and advancements in genomic medicine. Key trends expected in the forecast period involve a concentration on biodegradable materials, rigorous adherence to quality and safety standards, partnerships with research institutions, optimization of the global supply chain, and a focus on single-use technologies.
The anticipated increase in the number of testing laboratories worldwide is expected to drive the growth of the lab supplies market in the foreseeable future. Testing laboratories serve as locations where diagnostic tests or research activities are carried out. Within these laboratories, lab supplies are utilized for conducting reactions and safely containing chemicals. The growing prevalence of testing laboratories contributes to an augmented demand for lab supplies, thereby propelling the lab supplies market. As an illustration, in 2021, the International Laboratory Accreditation Cooperation (ILAC), headquartered in Denmark, reported that its ILAC MRA (Mutual Recognition Arrangement) Signatories accredited approximately 85,000 laboratories globally. These accredited entities included nearly 13,000 inspection bodies, over 600 proficiency testing providers, and 250 suppliers of reference materials. Hence, the increasing number of testing laboratories worldwide plays a significant role in fostering the expansion of the lab supplies market.
The rise in healthcare expenditure is anticipated to drive the growth of the lab supplies market in the foreseeable future. Healthcare expenditure encompasses the amount allocated for healthcare and associated activities, including private and public health insurance, health research, and public health initiatives. The lab supplies market plays a crucial role in supporting healthcare objectives by providing essential tools for medical research, diagnostics, treatment, and quality assurance. For example, in May 2023, the United Kingdom reported an expenditure of approximately £283 billion on healthcare in 2022, reflecting a modest 0.7% increase compared to 2021, covering both public and private spending. This underlines how the increasing healthcare expenditure is a significant driver for the growth of the lab supplies market.
The lab supplies market is witnessing a significant trend towards product innovations. Leading companies in the market are introducing novel and advanced products to maintain their competitive positions. For example, in October 2022, Q2 Solutions, a clinical trial laboratory services organization based in the US, introduced the first self-collection safety lab panel for participants in US clinical trials. This innovative product leverages self-collection technology, allowing clinical trial participants to provide blood specimens conveniently from their homes. The clinical-grade remote sampling system ensures decentralized laboratory testing without compromising sample quality. The solution includes user-friendly at-home self-collection kits with instructions and videos, a direct-to-patient delivery method, and streamlined specimen processing and shipping requirements.
Major players in the market are introducing novel and advanced technologies to maintain their market standing. The infusion of innovative technologies in the lab supplies market contributes to heightened efficiency, precision, and capabilities, propelling advancements in research, diagnostics, and experimentation. For example, in June 2023, Eaton Corporation, a multinational power management company based in Ireland, inaugurated its inaugural Supply Chain Digital Incubation Lab in Pune, India. This lab is a pivotal component of Eaton's initiatives toward digital transformation and innovation, with the objective of nurturing supply chain innovation. Serving as both a physical and virtual laboratory, it becomes a space where concepts and technologies related to supply chain management undergo measurement, evaluation, and testing, with the potential for subsequent commercialization. This venture underscores Eaton's dedication to integrating digitalization and Industry 4.0 technologies into its operations, ultimately enhancing internal productivity and elevating the overall customer experience.
In January 2023, Calibre Scientific Inc., a developer, manufacturer, and distributor of consumable products in the life sciences and diagnostics markets based in the United States, completed the acquisition of Dynalab Corp. for an undisclosed sum. Through this acquisition, Calibre Scientific enhances its existing product portfolio in the laboratory supplies market and extends its global distribution network by incorporating a substantial market. Dynalab Corp., situated in the United States, is engaged in the distribution and manufacturing of laboratory plastics, consumables, equipment, supplies, and customized fabricated products for application across scientific, industrial, agricultural, water, pharmaceutical, and educational sectors.
Major companies operating in the lab supplies market report are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Becton Dickinson and Company, GE Healthcare, Corning Inc., Agilent Technologies Inc., Avantor, MilliporeSigma, PerkinElmer Inc., VWR International, Sartorius AG, Mettler Toledo, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Eppendorf AG, Pace Analytical Services LLC, LabWare Inc., Labworks LLC, Cole-Parmer, Spectrum Chemical Manufacturing Corp., LabVantage Solutions Inc., Autoscribe Informatics, Lab Pro Inc., BrandTech Scientific Inc.
North America was the largest region in the lab supplies market in 2023. The regions covered in the lab supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lab supplies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Lab supplies primarily comprise equipment and disposables. Disposables, which encompass items such as syringes, tubing, catheters, bags, and gloves, are single-use instruments that are discarded after use. These are applied in diverse fields such as biochemistry, endocrinology, microbiology, genetic testing, among others, by various end-users, including academic institutes, clinical and diagnostic laboratories, pharmaceutical and biotechnology companies, and more.
The lab supplies market research report is one of a series of new reports that provides lab supplies market statistics, including lab supplies industry global market size, regional shares, competitors with a lab supplies market share, detailed lab supplies market segments, market trends and opportunities, and any further data you may need to thrive in the lab supplies industry. This lab supplies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lab supplies market consists of sales of lab instruments and analytical machinery. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The lab supplies market size is expected to see strong growth in the next few years. It will grow to $53.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be linked to an upswing in life sciences research, a heightened emphasis on environmental testing, an expanding role for point-of-care testing, the global response to health emergencies, and advancements in genomic medicine. Key trends expected in the forecast period involve a concentration on biodegradable materials, rigorous adherence to quality and safety standards, partnerships with research institutions, optimization of the global supply chain, and a focus on single-use technologies.
The anticipated increase in the number of testing laboratories worldwide is expected to drive the growth of the lab supplies market in the foreseeable future. Testing laboratories serve as locations where diagnostic tests or research activities are carried out. Within these laboratories, lab supplies are utilized for conducting reactions and safely containing chemicals. The growing prevalence of testing laboratories contributes to an augmented demand for lab supplies, thereby propelling the lab supplies market. As an illustration, in 2021, the International Laboratory Accreditation Cooperation (ILAC), headquartered in Denmark, reported that its ILAC MRA (Mutual Recognition Arrangement) Signatories accredited approximately 85,000 laboratories globally. These accredited entities included nearly 13,000 inspection bodies, over 600 proficiency testing providers, and 250 suppliers of reference materials. Hence, the increasing number of testing laboratories worldwide plays a significant role in fostering the expansion of the lab supplies market.
The rise in healthcare expenditure is anticipated to drive the growth of the lab supplies market in the foreseeable future. Healthcare expenditure encompasses the amount allocated for healthcare and associated activities, including private and public health insurance, health research, and public health initiatives. The lab supplies market plays a crucial role in supporting healthcare objectives by providing essential tools for medical research, diagnostics, treatment, and quality assurance. For example, in May 2023, the United Kingdom reported an expenditure of approximately £283 billion on healthcare in 2022, reflecting a modest 0.7% increase compared to 2021, covering both public and private spending. This underlines how the increasing healthcare expenditure is a significant driver for the growth of the lab supplies market.
The lab supplies market is witnessing a significant trend towards product innovations. Leading companies in the market are introducing novel and advanced products to maintain their competitive positions. For example, in October 2022, Q2 Solutions, a clinical trial laboratory services organization based in the US, introduced the first self-collection safety lab panel for participants in US clinical trials. This innovative product leverages self-collection technology, allowing clinical trial participants to provide blood specimens conveniently from their homes. The clinical-grade remote sampling system ensures decentralized laboratory testing without compromising sample quality. The solution includes user-friendly at-home self-collection kits with instructions and videos, a direct-to-patient delivery method, and streamlined specimen processing and shipping requirements.
Major players in the market are introducing novel and advanced technologies to maintain their market standing. The infusion of innovative technologies in the lab supplies market contributes to heightened efficiency, precision, and capabilities, propelling advancements in research, diagnostics, and experimentation. For example, in June 2023, Eaton Corporation, a multinational power management company based in Ireland, inaugurated its inaugural Supply Chain Digital Incubation Lab in Pune, India. This lab is a pivotal component of Eaton's initiatives toward digital transformation and innovation, with the objective of nurturing supply chain innovation. Serving as both a physical and virtual laboratory, it becomes a space where concepts and technologies related to supply chain management undergo measurement, evaluation, and testing, with the potential for subsequent commercialization. This venture underscores Eaton's dedication to integrating digitalization and Industry 4.0 technologies into its operations, ultimately enhancing internal productivity and elevating the overall customer experience.
In January 2023, Calibre Scientific Inc., a developer, manufacturer, and distributor of consumable products in the life sciences and diagnostics markets based in the United States, completed the acquisition of Dynalab Corp. for an undisclosed sum. Through this acquisition, Calibre Scientific enhances its existing product portfolio in the laboratory supplies market and extends its global distribution network by incorporating a substantial market. Dynalab Corp., situated in the United States, is engaged in the distribution and manufacturing of laboratory plastics, consumables, equipment, supplies, and customized fabricated products for application across scientific, industrial, agricultural, water, pharmaceutical, and educational sectors.
Major companies operating in the lab supplies market report are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Becton Dickinson and Company, GE Healthcare, Corning Inc., Agilent Technologies Inc., Avantor, MilliporeSigma, PerkinElmer Inc., VWR International, Sartorius AG, Mettler Toledo, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Eppendorf AG, Pace Analytical Services LLC, LabWare Inc., Labworks LLC, Cole-Parmer, Spectrum Chemical Manufacturing Corp., LabVantage Solutions Inc., Autoscribe Informatics, Lab Pro Inc., BrandTech Scientific Inc.
North America was the largest region in the lab supplies market in 2023. The regions covered in the lab supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lab supplies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Lab supplies primarily comprise equipment and disposables. Disposables, which encompass items such as syringes, tubing, catheters, bags, and gloves, are single-use instruments that are discarded after use. These are applied in diverse fields such as biochemistry, endocrinology, microbiology, genetic testing, among others, by various end-users, including academic institutes, clinical and diagnostic laboratories, pharmaceutical and biotechnology companies, and more.
The lab supplies market research report is one of a series of new reports that provides lab supplies market statistics, including lab supplies industry global market size, regional shares, competitors with a lab supplies market share, detailed lab supplies market segments, market trends and opportunities, and any further data you may need to thrive in the lab supplies industry. This lab supplies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lab supplies market consists of sales of lab instruments and analytical machinery. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Lab Supplies Market Characteristics3. Lab Supplies Market Trends and Strategies32. Global Lab Supplies Market Competitive Benchmarking33. Global Lab Supplies Market Competitive Dashboard34. Key Mergers and Acquisitions in the Lab Supplies Market
4. Lab Supplies Market - Macro Economic Scenario
5. Global Lab Supplies Market Size and Growth
6. Lab Supplies Market Segmentation
7. Lab Supplies Market Regional and Country Analysis
8. Asia-Pacific Lab Supplies Market
9. China Lab Supplies Market
10. India Lab Supplies Market
11. Japan Lab Supplies Market
12. Australia Lab Supplies Market
13. Indonesia Lab Supplies Market
14. South Korea Lab Supplies Market
15. Western Europe Lab Supplies Market
16. UK Lab Supplies Market
17. Germany Lab Supplies Market
18. France Lab Supplies Market
19. Italy Lab Supplies Market
20. Spain Lab Supplies Market
21. Eastern Europe Lab Supplies Market
22. Russia Lab Supplies Market
23. North America Lab Supplies Market
24. USA Lab Supplies Market
25. Canada Lab Supplies Market
26. South America Lab Supplies Market
27. Brazil Lab Supplies Market
28. Middle East Lab Supplies Market
29. Africa Lab Supplies Market
30. Lab Supplies Market Competitive Landscape and Company Profiles
31. Lab Supplies Market Other Major and Innovative Companies
35. Lab Supplies Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Lab Supplies Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on lab supplies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for lab supplies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product: Equipment; Disposables
2) By Application: Biochemistry; Endocrinology; Microbiology; Genetic Testing; Other Applications
3) By End-users: Academic Institutes; Clinical and Diagnostic Laboratories; Pharmaceutical and Biotechnology Companies; Other End-users
Key Companies Mentioned: Thermo Fisher Scientific Inc.; Abbott Laboratories; Danaher Corporation; Siemens Healthineers; Fujifilm Holdings Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- Danaher Corporation
- Siemens Healthineers
- Fujifilm Holdings Corporation
- Becton Dickinson and Company
- GE Healthcare
- Corning Inc.
- Agilent Technologies Inc.
- Avantor
- MilliporeSigma
- PerkinElmer Inc.
- VWR International
- Sartorius AG
- Mettler Toledo
- Shimadzu Corporation
- Waters Corporation
- Bio-Rad Laboratories Inc.
- Bruker Corporation
- Qiagen N.V.
- Eppendorf AG
- Pace Analytical Services LLC
- LabWare Inc.
- Labworks LLC
- Cole-Parmer
- Spectrum Chemical Manufacturing Corp.
- LabVantage Solutions Inc.
- Autoscribe Informatics
- Lab Pro Inc.
- BrandTech Scientific Inc.
