Lab Supplies Market Size, Share & Trends Report

Lab Supplies Market Size, Share & Trends Analysis Report By Product (Equipment (Autoclaves & Sterilizers, Lab Air Filtration System), Disposables (Tubes, Gloves)), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Aug, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-002-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 120

Report Overview

The global lab supplies market size was estimated at USD 29.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2020 to 2027. The market for laboratory equipment is majorly driven by increasing funding and investment in research and development activities in the field of biotechnology and pharmaceutical. The market is expected to rise at a steady rate in the coming years owing to the continuous and stable availability of laboratory supplies. The demand for laboratory equipment and supplies market is rising due to advancements in the field of biological and chemical research. Increasing the volume of life science research investigations and clinical laboratory tests is boosting the demand for disposable lab equipment market. The market is also projected to witness continuous demand for laboratory supplies including equipment and disposables among procurement managers in the pharmaceutical and healthcare sectors.

The U.S. laboratory supply market size

Laboratories require a variety of equipment and instruments to run tests and research and can be found in research labs, educational labs, diagnostic testing in medical labs, quality assurance, research and development, and manufacturing. The use of laboratory supplies allows faster analyses that add value to the laboratory itself by increasing the capacity of the instrument and allow performing 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, the best way to increase efficiency is to improve the purchasing process. Significantly, the lab suppliers are also trying to make simpler product selection and order processes.

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

Product Insights

The equipment segment accounted for the largest share of 63.0% in 2019 in the market for laboratory equipment and supplies market. This is attributed to the high cost of the equipment resulting in one-time instalment for many years. The laboratory equipment is another technical filed that leads to experiments, process controls, and quality assurance. 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 rests on a great deal on the quality, strength, and durability of the equipment. They help to provide accurate results and also enhance the work efficiency. This, in turn, is creating demand for the equipment and boosting the growth of the market for laboratory equipment and supplies market.

Regional Insights

North America dominated the laboratory supplies market and accounted for a revenue share of 37.0% in 2019. This is attributed to the presence of numerous pharmaceutical and biopharmaceutical firms engaged in R&D in the region. 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 also 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 supply market share

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. This, in turn, is creating demand for the lab equipment market. Also, a large number of companies are engaged in the development of therapeutics and vaccines due to the outbreak of coronavirus, hence boosting the growth of the market for laboratory supplies.

Key Companies & Market Share Insights

Key companies are introducing new products with advanced features and technologies 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 intercellular and intracellular at a nanoscale level. Some of the prominent players in the lab supplies market include:

  • Agilent Technologies Inc.

  • PerkinElmer Inc.

  • Shimadzu Corporation

  • Thermo Fisher Scientific, Inc.

  • Waters Corporation

Lab Supplies Market Report Scope 

Report Attribute

Details

Market Size value in 2020

USD 30.6 billion

Revenue forecast in 2027

USD 49.6 billion

Growth Rate

CAGR of 7.1% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue 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

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

Key companies profiled

Agilent Technologies Inc.; PerkinElmer Inc.; Thermo Fisher Scientific, Inc.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global lab supplies market on the basis of product and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2027)

    • 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 (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The 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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