Global Life Sciences and Laboratory Equipment Market

Global Life Sciences and Laboratory Equipment Market Size, Share, Growth Analysis, By Equipment Type(Cold storage, Lab ovens & furnaces), By Technology Type(Spectroscopy, chromatography), By Application(Cell culture & cell therapy, cancer research), By End user(clinical and diagnostics, research) - Industry Forecast 2023-2030


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

Global Life Sciences and Laboratory Equipment Market Insights

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).

The growth of the global life sciences and laboratory equipment market is attributed to the increasing investments and funding for life sciences, rising clinical capabilities, expansion in various application areas, and increasing academic-industry collaborations.

Life sciences sectors such as pharmaceutical, biotech, and healthcare are impacted by the following factors- growing strategic alliances, advancement in technologies, and progress in the availability of useful tools. Drug discovery process, analysis, and modelling of the compounds requires advanced technologies and rising attention for the development and implementation of automation systems, instruments and documentation required for the life sciences applications. In addition, increasing drug development in the pharmaceutical industry propels the demand for technologically advanced equipment. Rising investment in personalized medicine, increasing demand for data analysis and management systems are the factors which help to propel the market growth. However, high cost of instruments may hinder the market growth.

Market snapshot - 2024-2031

Global Market Size

USD 48.6 billion

Largest Segment

Pharmaceutical & Biotechnology

Fastest Growth

Pharmaceutical & Biotechnology

Growth Rate

6% CAGR

Global Life Sciences and Laboratory Equipment Market, 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Life Sciences and Laboratory Equipment Market Size By End User, 2022-2030 ($ Bn)
Global Life Sciences and Laboratory Equipment Market Size By End User, 2022-2030 (%)

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Global Life Sciences and Laboratory Equipment Market Segmental Analysis

The global life sciences and laboratory equipment market is segmented into equipment type, technology type, application, end-user, and region. Based on equipment type the global market is segmented into cold storage, lab ovens & furnaces, liquid handling, lab centrifuges & shakers, microbiological incubators & environmental chambers, water baths, circulators & chillers, analytical & measuring instruments, and others. In terms of technology type, the global market is categorized into spectroscopy, chromatography, PCR, immunoassays, lyophilization, clinical chemistry analysers, microscopy, flow cytometry, centrifuges, electrophoresis, and others. With respect to application, the global market is segmented into cell culture & cell Therapy, cancer research, drug discovery, genomics, in vitro fertilization, bioprocess, metabolomics, proteomics, and others. Further categorization of the end-user segment includes clinical & diagnostic, research, academic & government institutions, pharmaceuticals & biotechnology, blood banks, and others.

Analysis by Technology

The spectroscopy segment is expected to hold the highest market share during the forecast period. Numerous diagnostic and medical applications propels the need for lab tests. Photon time-of-flight spectroscopy can assist such therapeutic methods by providing them with data on tissue reaction optical properties. This technique is fast as well as non-destructive and also requires very little or no preparation at the time of sample collection. The development of chemometrics has improved its susceptibility to detecting small differences in complex datasets.

Analysis by End-User

The pharmaceutical & biotechnology segment is expected to hold the highest market share during the forecast period. The factors which enhance the market growth are increasing demand for advanced drugs, rising occurrence and proliferation of multiple debilitating illnesses. In addition, increased unmet needs of many chronic and uncommon illnesses across the globe, increased clamour for pharmaceutical and biopharmaceutical drugs from the global market.

Global Life Sciences and Laboratory Equipment Market By End User, 2022 (%), 2023 (%)

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Global Life Sciences and Laboratory Equipment Market Regional Insights

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.

North America is expected to register the fastest growth rate in the global Life sciences and laboratory equipment market during the forecast period. This growth is attributed to increasing drug discovery and development programs, increasing funding from various private and public organizations for life sciences research, presence of many key vendors in this region, and increasing development in the healthcare technologies.

Global Life Sciences and Laboratory Equipment Market By Geography, 2022-2030, 2024-2031
  • Largest
  • Fastest

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Global 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.

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Global Life Sciences and Laboratory Equipment Market Competitive Landscape

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.

Top Player's Company Profiles

  • 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

Recent Developments

  • On 13 September 2022, Becton, Dickson and Company launched a next generation glass prefillable syringe (PFS) that set a new standard in performance for vaccine PFS with new and tightened specifications for processability, cosmetics, contamination and integrity.
  • On 27 May 2022, Agilent announced a collaboration agreement with APC Ltd. in which the company committed to working towards combining their technologies to provide unique workflows to customers that support automated process analysis via liquid chromatography.

Global Life Sciences and Laboratory Equipment Key Market Trends

  • 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.
  • Latest technologies are enabling the development of reusable labware products made from non-toxic materials, more energy efficient ultra-low temperature freezers that utilize sustainable manufacturing processes, and centrifuges that use carbon fibre rotors, which are more durable and generate less waste.

Global Life Sciences and Laboratory Equipment Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global life sciences and laboratory equipment market analysis, the growth of this market is attributed to the increasing prevalence of infectious diseases, adoption of IoT, development of equipment with consideration of sustainability and green approach are the factors which help to propel the market growth. Asia Pacific is dominating the region due to increasing prevalence of infectious diseases. Technologically advanced instruments are costly and hinder the market growth. North America is likely to emerge as the fastest growing market during the forecast period.

What's Included

NA

Report Metric Details
Market size value in 2023 USD 48.6 billion
Market size value in 2031 USD 62.1 billion
Growth Rate 6%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Equipment Type
    • Cold storage, Lab ovens & furnaces, liquid handling, Lab centrifuges & shakers, microbiological incubators & environmental chambers, water baths, circulators & chillers, analytical & measuring instruments.
  • Technology Type
    • Spectroscopy, chromatography, PCR, immunoassays, lyophilization, clinical chemistry analysers, microscopy, flow cytometry, centrifuges, electrophoresis.
  • Application
    • Cell culture & cell therapy, cancer research, drug discovery, genomics, in vitro fertilization, bioprocess, metabolomics, proteomics.
  • End user
    • clinical and diagnostics, research, academic & government institutions, pharmaceuticals & biotechnology, blood banks.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Life Sciences and Laboratory Equipment Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Life Sciences and Laboratory Equipment Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Life Sciences and Laboratory Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Life Sciences and Laboratory Equipment Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Life Sciences and Laboratory Equipment Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Life Sciences and Laboratory Equipment Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

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).

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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