Laboratory Equipment and Disposables Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Laboratory Equipment and Disposables Market Size accounted for USD 32.5 Billion in 2022 and is estimated to achieve a market size of USD 60.2 Billion by 2032 growing at a CAGR of 6.4% from 2023 to 2032.

Laboratory Equipment and Disposables Market Highlights

• Global laboratory equipment and disposables market revenue is poised to garner USD 60.2 billion by 2032 with a CAGR of 6.4% from 2023 to 2032
• North America laboratory equipment and disposables market value occupied around USD 12.4 billion in 2022
• Asia-Pacific laboratory equipment and disposables market growth will record a CAGR of more than 8% from 2023 to 2032
• Among product, the equipment sub-segment generated over US$ 21.1 billion revenue in 2022
• Expansion of biotechnology and pharmaceutical sectors fueling equipment needs is a popular laboratory equipment and disposables market trend that fuels the industry demand

Medical laboratories require a diverse range of equipment and consumables for testing and research activities. These laboratories, including research, clinical diagnostics, pathology, microbiology, and educational labs, utilize various tools to conduct scientific experiments, research, and analyses on different materials. Laboratory equipment refers to the tools used by technicians and scientists in these settings. It serves multiple purposes, from conducting biology tests on patients to preparing cell cultures for research and diagnosing various diseases through tissue testing. This equipment includes spectrophotometers, incubators, centrifuges, sonicators, microarrays, and others. Moreover, laboratory tasks necessitate additional tools like gloves, masks, pipettes, and disposable tips. These items are essential components of laboratory work, utilized in every task conducted within these facilities. Laboratories utilize this array of equipment and devices for conducting clinical, pathology, and microbiological tests.

Global Laboratory Equipment and Disposables Market Dynamics

Market Drivers

• Technological advancements in diagnostics and analysis methods
• Increasing demand for personalized medicine and point-of-care testing
• Growing investments in life sciences research and development
• Rising prevalence of chronic diseases requiring diagnostic solutions

Market Restraints

• Stringent regulatory requirements and compliance hurdles
• High initial costs associated with advanced laboratory equipment
• Challenges related to the disposal and management of hazardous waste materials

Market Opportunities

• Expansion into emerging markets with unmet diagnostic needs
• Development of innovative, cost-effective disposables and equipment
• Integration of artificial intelligence and automation in laboratory processes

Laboratory Equipment and Disposables Market Report Coverage

Laboratory Equipment and Disposables Market Insights

Technological advancements in laboratory equipment and increased investments in both private and public healthcare sectors drive growth in the global laboratory equipment and disposable market. Additionally, favorable insurance policies supporting laboratory operations and the surge in life and biotechnology research further stimulate market expansion. Nevertheless, some nations face obstacles due to the high costs associated with advanced technology laboratory equipment and a lack of clinical laboratories, potentially hindering market growth. However, the growth of clinical diagnostic testing in emerging economies worldwide presents lucrative opportunities, tapping into high market potential for further expansion in this sector.

Laboratory devices are tools utilized by laboratory technicians or scientists to perform various tasks, including the analysis of patients' biological samples, preparation of cell culture mediums for research, tissue examination for diagnosing different diseases, among others. Equipment such as spectrometers, incubators, centrifuges, sonicators, microarrays, and other devices are integral to these laboratory functions. Additionally, laboratory activities necessitate supplementary tools like gloves, masks, pipettes, tips, and others, often disposable after use. These tools play a crucial role in every laboratory task. Laboratories utilize these devices and disposables to conduct a range of tests, including clinical, pathological, and microbiological examinations.

The growth of the laboratory equipment and devices market is expected to be propelled by nine laboratory procedures worldwide. Factors contributing to this growth include the rising prevalence of diseases, the expansion of diagnostic labs, an increasing volume of research activities, and heightened awareness among health professionals about the utilization of technologically advanced laboratory equipment.

Laboratory Equipment and Disposables Market Segmentation

The worldwide market for laboratory equipment and disposables is split based on product, and geography.

Laboratory Equipment and Disposables Products

• Equipment
  • Incubators
  • Centrifuges
  • Lab Air Filtration System
  • Scopes
  • Laminar Flow Hood
  • Micro Manipulation Systems
  • Sonicators and Homogenizers
  • Autoclaves and Sterilizers
  • Spectrophotometers & Microarray Equipment
  • Others
• Disposables
  • Pipettes
  • Cuvettes
  • Dishes
  • Gloves
  • Masks
  • Tips
  • Tubes
  • Cell Imaging Consumables
  • Cell Culture Consumables

Based on product type, the disposable segment is estimated to secure the largest share during the laboratory equipment and disposables industry forecast period. Given its indispensable role in every laboratory task, this segment is expected to maintain its dominant position throughout the analysis period. Conversely, equipment emerges as the fastest-growing segment, attributed to an increase in laboratory tests globally and advancements in technology.

Spectrophotometers and microarray equipment represent the largest and most rapidly growing segments within the laboratory equipment and disposable market due to their widespread applications in diagnosing various conditions.

According to laboratory equipment and disposables industry analysis, In the realm of devices, cell cultivation consumables have claimed the largest portion of the market. This segment's development is attributed to the use of cell cultures in identifying biomarkers associated with diseases. These cultures serve to explore the metabolic pathways linked to these biomarkers, crucial in unveiling new cancer biomarkers that significantly impact cancer diagnosis, recurrence, and prognosis. The global prevalence of cancer and the escalating focus on cancer-related research contribute significantly to this segment's growth. Additionally, the heightened emphasis on regenerative medicine has propelled cell imaging to become the fastest-growing segment in the market.

Laboratory Equipment and Disposables Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Laboratory Equipment and Disposables Market Regional Analysis

North America contributes significantly to the market, primarily due to easy equipment access, increased R&D investments, the presence of key players, and a pool of skilled technicians. The region's market growth is further propelled by rising public and private investments.

Asia-Pacific accounted for a substantial portion of the overall market and is anticipated to continue growing. Factors driving this growth include increased purchasing power, advancements in medical infrastructure, expanded clinical diagnostic testing, higher disposable income, a surge in research and innovation, enhanced disease prevention awareness, and early testing initiatives. Moreover, the region's rising incidence of infectious diseases like AIDS, tuberculosis, hepatitis, and others boosts market growth, necessitating laboratory tests with associated equipment and disposables.

In terms of laboratory equipment and disposables market analysis, the high prevalence of cancer in the region contributes to market growth, as pathological testing remains crucial. For instance, projected incidents of colon and stomach cancer in Japan, sourced from the National Cancer Center in Japan, indicate the demand for such testing. These factors collectively drive the market for laboratory equipment and disposables.

Laboratory Equipment and Disposables Market Players

Some of the top laboratory equipment and disposables companies offered in our report includes Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, FUJIFILM Holdings Corporation, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermo Fisher Scientific Inc., and Waters Corporation.