Saudi Arabia Laboratory Equipment Market Size & Outlook
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Saudi Arabia laboratory equipment market highlights
- The Saudi Arabia laboratory equipment market generated a revenue of USD 158.4 million in 2023 and is expected to reach USD 218.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, general was the largest revenue generating product in 2023.
- Support is the most lucrative product segment registering the fastest growth during the forecast period.
Laboratory equipment market data book summary
| Market revenue in 2023 | USD 158.4 million |
| Market revenue in 2030 | USD 218.9 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | General |
| Fastest growing segment | Support |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | General, Analytical, Clinical, Support, Specialty |
| Key market players worldwide | Sartorius AG, Bio-Rad Laboratories Inc, FUJIFILM Holdings Corp, Thermo Fisher Scientific Inc, Agilent Technologies Inc |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.5% of the global laboratory equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa laboratory equipment market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 484.3 million by 2030.
General was the largest segment with a revenue share of 27.4% in 2023. Horizon Databook has segmented the Saudi Arabia laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
The Saudi Arabian government is diverting funds toward creating a robust healthcare infrastructure by developing new R&D laboratories. Currently, only 30% of pharmaceutical products are manufactured locally in Saudi Arabia. Thus, the country considerably relies on imports of pharmaceutical products, mainly from Europe, to meet local demand.
This is primarily due to insufficient local production of drugs and a lack of research capabilities. In addition, there are over 100 research institutions in the country dedicated to innovative & therapeutic discoveries. Increasing consciousness about R&D, establishment of various research institutes, and setting up of solid medical infrastructures are projected to contribute to market growth in the country.
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Laboratory Equipment Market Scope
Laboratory Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Bio-Rad Laboratories Inc | View profile | 8030 | 1000 Alfred Nobel Drive, Hercules, CA, United States, 94547 | https://www.bio-rad.com |
| Agilent Technologies Inc | View profile | 17700 | 5301 Stevens Creek Boulevard, Santa Clara, CA, United States, 95051 | https://www.agilent.com |
| Sartorius AG | View profile | 14338 | Otto-Brenner-Strasse 20, Gottingen, NI, Germany, 37079 | https://www.sartorius.com |
| Thermo Fisher Scientific Inc | View profile | 122000 | 168 Third Avenue, Waltham, MA, United States, 02451 | https://www.thermofisher.com |
| FUJIFILM Holdings Corp | View profile | 83784 | 7-3, Akasaka 9-chome, Minato-ku, Tokyo, Japan, 107-0052 | http://www.fujifilmholdings.com |
Saudi Arabia laboratory equipment market size, by end use, 2018-2030 (US$M)
Saudi Arabia Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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