Laboratory Equipment and Disposables Market is Expected to Reach $37.8 Bn, by 2025 at 5.7% CAGR, Says AMR
High-end technological advancements in laboratory equipment, rise in private as well as public healthcare investments, favorable insurance policies related to laboratory equipment, and urge in research related to life science and biotechnology fuel the growth of the global laboratory equipment and disposables market
PORTLAND, Oregon, April 25, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Laboratory Equipment and Disposables Market by Product Type (Equipment [Incubator, Laminar Flow Hood, Micro Manipulation Systems, Centrifuges, Lab Air Filtration System, Scopes, Sonicators & Homogenizers, Autoclaves & Sterilizers, Spectrophotometers & Microarray Equipment, and Others] and Disposables [Pipettes, Tips, Tubes, Cuvettes, Dishes, Gloves, Masks, Cell Imaging Consumables, Cell Culture Consumables]): Global Opportunity Analysis and Industry Forecast, 2018 – 2025." The report provides a detailed analysis of the key strategies, top investment pockets, drivers & opportunities, market share, key segments, and competitive scenario. According to the report, the global laboratory equipment and disposables market was estimated at $24.2 billion in 2017 and is expected to hit $37.8 billion in 2025, growing at a CAGR of 5.7% during the forecast period.
High-end technological advancements in laboratory equipment, rise in private as well as public healthcare investments, favorable insurance policies related to laboratory equipment, and urge in research related to life science and biotechnology fuel the growth of the global laboratory equipment and disposables market. On the other hand, high costs of technologically advanced laboratory equipment and dearth of clinical laboratories in certain regions curb the market growth to some extent. Nevertheless, high market potential in emerging economies and growth in adoption of clinical diagnostic testing worldwide create multiple opportunities in the market.
Based on product, the disposables segment accounted for nearly two-third of the total market in 2017 and is expected to remain dominant throughout 2018-2025. The fact that they play a crucial role in every laboratory process has spurred the growth. In addition, increase in number of lab procedures, rise in number of R&D activities, and surge in number of diagnostic procedures boost the market. Simultaneously, the equipment segment is anticipated to grow at the highest CAGR of 6.1% during the study period. Factors that drive the segment include technological advancement, growth in awareness about advanced equipment among the developing countries and rise in number of laboratories.
North America to be dominant during the estimate period
Based on region, North America contributed to nearly two-fifth of the total market and is expected to retain its top status till 2025. Well-established healthcare infrastructure and rise in the prevalence of infectious diseases that require laboratory testing spur the market growth in the region. On the other hand, Asia-Pacific is assumed to grow at the fastest CAGR of 7.4% throughout the forecast period, 2018-2025. Factors such as rise in healthcare expenditure in countries such as China, Japan, and India and increase in government healthcare investments are anticipated to act as growth drivers for the market during the study period.
The key market players analyzed in the report include Bio-Rad Laboratories, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Sartorius AG, and others. These ventures have adopted a number of strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to gain a strong stand in the industry.
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 firstname.lastname@example.org