Life Sciences and Laboratory Equipment Market Trends

Global Life Sciences and Laboratory Equipment Market size was valued at USD 54.48 billion in 2023 and is poised to grow from USD 57.64 billion in 2024 to USD 90.49 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

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. (US) ', 'Danaher Corporation (US) ', 'Agilent Technologies, Inc. (US) ', 'Illumina, Inc. (US) ', 'Waters Corporation (US) ', 'Bio-Rad Laboratories, Inc. (US) ', 'PerkinElmer, Inc. (US) ', 'Bruker Corporation (US) ', 'Qiagen N.V. (Germany) ', 'GE Healthcare Life Sciences (US) ', 'Becton, Dickinson and Company (US) ', 'Merck KGaA (Germany) ', 'Shimadzu Corporation (Japan) ', 'Sartorius AG (Germany) ', 'Charles River Laboratories International, Inc. (US) ', 'Lonza Group AG (Switzerland) ', 'Eppendorf AG (Germany) ', 'Olympus Corporation (Japan) ', 'Bio-Techne Corporation (US) ', 'F. Hoffmann-La Roche AG (Switzerland)'

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.