India Laboratory Supplies Market Size & Outlook, 2023-2030
India Laboratory Supplies Market, 2018-2030 (US$M)
Global Market
Related Markets
India laboratory supplies market highlights
- The India laboratory supplies market generated a revenue of USD 2,580.2 million in 2023 and is expected to reach USD 4,196.1 million by 2030.
- The India market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, equipment was the largest revenue generating product in 2023.
- Disposables is the most lucrative product segment registering the fastest growth during the forecast period.
Laboratory supplies market data book summary
| Market revenue in 2023 | USD 2,580.2 million |
| Market revenue in 2030 | USD 4,196.1 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Equipment |
| Fastest growing segment | Disposables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Equipment, Disposables |
| Key market players worldwide | Agilent Technologies Inc, Bio-Rad Laboratories Inc, Bruker Corp, Danaher Corp, FUJIFILM Holdings Corp, PerkinElmer, Sartorius AG, Shimadzu Corp, Thermo Fisher Scientific Inc, Waters Corp |
Other key industry trends
- In terms of revenue, India accounted for 6.2% of the global laboratory supplies market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China laboratory supplies market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,155.8 million by 2030.
India is emerging as one of the lucrative markets for lab supplies across the globe. This can be attributed to low costs, availability of industry experts, and presence of WHO-cGMP compliant facilities. According to an article by The Pharma Letter, operational costs in India are nearly 40% lower than that in several developed nations, presenting significant economic benefits for multinational companies.
Increase in government funding for R&D to accelerate development of new products has made India one of the most favored locations for establishing bioanalytical testing facilities, thereby boosting the market growth. Furthermore, expansion plans undertaken by various stakeholders are also anticipated to increase the demand for lab equipment and supplies in the country.
For instance, in July 2015, VIMTA Labs received approval for pan-India expansion plans to create a network of branch laboratories. In 2017, Clearsynth Labs established a High-Field Bio--NMR/600 MHz facility at its R&D lab in Hyderabad. In addition, in November 2020, Stelis BioSource, a division of Stelis Biopharma, invested over USD 100 million in its Bangalore facilities.
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Laboratory Supplies Market Scope
Laboratory Supplies Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Shimadzu Corp | View profile | 15,284 | 1, Nishinokyo-Kuwabara-cho, Nakagyo-ku, Kyoto, Japan, 604-8511 | www.shimadzu.com |
| FUJIFILM Holdings Corp | View profile | 83,784 | 7-3, Akasaka 9-chome, Minato-ku, Tokyo, Japan, 107-0052 | www.fujifilmholdings.com |
| Thermo Fisher Scientific Inc | View profile | 122,000 | 168 Third Avenue, Waltham, MA, United States, 02451 | www.thermofisher.com |
| Danaher Corp | View profile | 63,000 | 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC, United States, 20037-1701 | www.danaher.com |
| Sartorius AG | View profile | 14,338 | Otto-Brenner-Strasse 20, Gottingen, NI, Germany, 37079 | www.sartorius.com |
| Agilent Technologies Inc | View profile | 17,700 | 5301 Stevens Creek Boulevard, Santa Clara, CA, United States, 95051 | www.agilent.com |
| Bio-Rad Laboratories Inc | View profile | 8,030 | 1000 Alfred Nobel Drive, Hercules, CA, United States, 94547 | www.bio-rad.com |
| Bruker Corp | View profile | 9,707 | 40 Manning Road, Billerica, MA, United States, 01821 | www.bruker.com |
| Waters Corp | View profile | 7,900 | 34 Maple Street, Milford, MA, United States, 01757 | www.waters.com |
| PerkinElmer | View profile | 10001+ | Waltham, Massachusetts, United States, North America | www.perkinelmer.com |
India Laboratory Supplies Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Laboratory Supplies Market Outlook will help companies and investors design strategic landscapes.
Equipment was the largest segment with a revenue share of 64.08% in 2023.
Horizon Databook has segmented the India laboratory supplies market based on equipment, disposables covering the revenue growth of each sub-segment from 2018 to 2030.
India is emerging as one of the lucrative markets for lab supplies across the globe. This can be attributed to low costs, availability of industry experts, and presence of WHO-cGMP compliant facilities. According to an article by The Pharma Letter, operational costs in India are nearly 40% lower than that in several developed nations, presenting significant economic benefits for multinational companies.
Increase in government funding for R&D to accelerate development of new products has made India one of the most favored locations for establishing bioanalytical testing facilities, thereby boosting the market growth. Furthermore, expansion plans undertaken by various stakeholders are also anticipated to increase the demand for lab equipment and supplies in the country.
For instance, in July 2015, VIMTA Labs received approval for pan-India expansion plans to create a network of branch laboratories. In 2017, Clearsynth Labs established a High-Field Bio--NMR/600 MHz facility at its R&D lab in Hyderabad. In addition, in November 2020, Stelis BioSource, a division of Stelis Biopharma, invested over USD 100 million in its Bangalore facilities.
- India Laboratory Supplies Market Product Outlook (Revenue, USD Million , 2018-2030)
- Equipment
- Disposables
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Horizon Databook provides a detailed overview of country-level data and insights on the India Laboratory Supplies Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Laboratory Supplies Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Laboratory Supplies Market, 2018-2030 (US$M)
India laboratory supplies market statistics, by product, 2018-2030 (US$M)
