How big is the laboratory equipment market?

The global laboratory equipment market size was valued at USD 28.03 billion in 2022 and is expected to reach USD 30.06 billion in 2023.

What is the laboratory equipment market growth?

The global laboratory equipment market is expected to grow at a compound annual growth rate of 7.62% from 2023 to 2030 to reach USD 50.27 billion by 2030.

Which segment accounted for the largest laboratory equipment market share?

North America dominated the laboratory equipment market with a share of 37.7% in 2022. This is attributable to the increasing growth of biotechnology and pharmaceutical companies, and the presence of key players in the region.

Who are the key players in laboratory equipment market?

Key companies operating in the laboratory equipment market are Sartorius AG, Bio-Rad Laboratories, Inc., FUJIFILM Holdings Corporation, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Waters Corporation, Bruker Corporation, Danaher Corporation, PerkinElmer Inc., and Shimadzu Corporation.

What are the factors driving the laboratory equipment market?

Key factors that are driving the laboratory equipment market growth include technological advancements, increasing Research & Development (R&D) activities, rising demand for diagnostic testing, and stringent regulations & quality standards.