Life Sciences and Laboratory Equipment Market Size

SkyQuest Technology's Life sciences and laboratory equipment market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Life Sciences and Laboratory Equipment Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

Life Sciences and Laboratory Equipment Market Insights

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 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.

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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.

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Global Life Sciences and Laboratory Equipment Market
Life Sciences and Laboratory Equipment Market

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