Laboratory Supplies Market Size, Share & Trends Report

Laboratory Supplies Market Size, Share & Trends Analysis Report By Product {Equipment (Autoclaves & Sterilizers, Spectrophotometer & Microarray Equipment), Disposables (Tubes, Masks)}, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-002-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 112

Report Overview

The global laboratory supplies market size was valued at USD 30.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. The market is majorly driven by increasing funding and investment in research & development activities in the field of biotechnology and pharmaceutical. The market is expected to grow at a steady rate in the coming years owing to the continuous and stable supply of laboratory equipment. The Covid-19 pandemic had resulted in an increase in research pertaining to coronavirus. However, labs carrying out research pertaining to other diseases pre-pandemic were shut down as the major goal of the lockdown was to avoid close contact with others, which led to low demand for lab supplies. According to Stat News, many researchers have stated that widespread and lengthy shutdown have had significant implications on the pace of other scientific discoveries. Some of the initial disruptions have increased the workload on CROs or reduced the internal lab testing capacities of biopharmaceutical firms.  

U.S. laboratory supplies market size, by product, 2016 - 2028 (USD Billion)

The demand for laboratory products is rising due to advancements in the field of biological and chemical research. The increasing volume of life science research investigations and clinical laboratory tests is boosting the demand for laboratory disposable products. The market is also projected to gain continuous demand for a constant supply of key laboratory devices and equipment among procurement managers in the pharmaceutical and healthcare sectors.

Laboratories require a variety of equipment and instruments to run tests and research. General lab equipment can be found in research labs, educational labs, diagnostic testing in medical labs, quality assurance, research & development, manufacturing, and more. The use of laboratory equipment allows faster analyses that add value to the laboratory itself by increasing the capacity of the instrument, thus allowing to perform more tests every day. The faster methods may even allow testing to be consolidated onto fewer instruments that can reduce consumables, maintenance, requirements for regulatory documentation, and overall costs.

Technology trends are also increasing laboratory capabilities. Innovative technology and methods allow scientists and laboratory technicians to work more efficiently and accurately than ever before. Smart technology, automation, miniaturization, and artificial intelligence are becoming real-world, streamlining life in the lab. Simultaneously, the pressure to deliver results quickly is also increasing. Hence, laboratories must be fast and agile. For laboratory managers, a key way to increase efficiency is improving the purchasing process. The lab suppliers are also trying to make the product selection and ordering processes simpler.

Technological advancements in laboratory equipment are also driving its adoption. Modern laboratory instruments have interfaces that make their operation easy for users. BrandTech Scientific, Inc. offers an electronic pipette with touchscreen operation and automatic tip ejection. It has a screen that operates like a smartphone, allowing users to access functions with a simple swipe.

Product Insights

The equipment segment accounted for the largest share of over 63.0% in 2020. This is attributed to the high cost of the equipment resulting in one-time installment for many years. Laboratory equipment is another technical field. With the help of the equipment, experiments, process controls, and quality assurance are carried out. It serves for quick capture and orientation in different categories. The corresponding laboratory instruments, machines, and equipment can be found systematically, easy and fast.

Scientific establishments such as research centers, laboratories, and companies require superior quality laboratory equipment to perform a range of tests and experiments. The success of these activities depends upon the quality, strength, and durability of the equipment. They help to provide accurate results and also enhance work efficiency. This is eventually creating demand for the equipment and boosting the market growth.

Regional Insights

North America accounted for the largest share of more than 37.0% in 2020. This is attributed to the presence of numerous pharmaceutical and biopharmaceutical firms engaged in R&D. Moreover, a rise in the number of grants - such as the National Institute of Health (NIH) to foster research activities - offered by government organizations is anticipated to boost the market growth. The quality and track record of firms that have operated in the region are believed to attract further investments for research over the forecast period.

Global laboratory supplies market share, by region, 2020 (%)

The biopharmaceutical industry is one of the region’s leading sectors in terms of funding research. Many companies are focusing on the development of new leads and storing an enormous amount of samples, thereby creating demand for the products. Furthermore, a large number of companies are engaged in the development of therapeutics and vaccines due to the outbreak of coronavirus, hence boosting the market growth.

Key Companies and Market Share Insights

Key players in the market are introducing new products with advanced features and technology that ease the operation of samples. There is a trend for smaller and easy-to-use instruments with built-in connectivity. Hence, Double Helix launched a module for widefield microscopes that allow 3D visualization of both the intercellular and intracellular at a nanoscale level. Some prominent players in the global laboratory supplies market include:

  • Bio-Rad Laboratories, Inc.

  • Bruker Corporation

  • Danaher Corporation

  • Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.).

  • Agilent Technologies Inc.

  • PerkinElmer Inc.

  • Shimadzu Corporation

  • Thermo Fisher Scientific, Inc.

  • Waters Corporation

Laboratory Supplies Market Report Scope

Report Attribute

Details

Market Size value in 2021

USD 32.6 billion

Revenue forecast in 2028

USD 54.1 billion

Growth Rate

CAGR of 7.5% from 2021 to 2028

Market demand in 2021

518,972,748.3 units

Volume forecast in 2028

1,198,737,414.1 units

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion, volume in units, and CAGR from 2021 to 2028

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Mexico; Brazil; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Bio-Rad Laboratories, Inc.; Bruker Corporation; Danaher Corporation; Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.); Agilent Technologies Inc.; PerkinElmer Inc.; Shimadzu Corporation; Thermo Fisher Scientific, Inc.; Waters Corporation

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global laboratory supplies market report on the basis of product and region:

  • Product Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

    • Equipment

      • Incubators

      • Laminar Flow Hood

      • Micro Manipulation Systems

      • Centrifuges

      • Lab Air Filtration System

      • Scopes

      • Sonicators and Homogenizers

      • Autoclaves and Sterilizers

      • Spectrophotometer and Microarray Equipment

      • Others

    • Disposables

      • Pipettes

      • Tips

      • Tubes

      • Cuvettes

      • Dishes

      • Gloves

      • Masks

      • Cell Imaging Consumables

      • Cell Culture Consumables

  • Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

    • Asia Pacific

      • India

      • Japan

      • China

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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