According to Acumen Research and Consulting, the global Laboratory Equipment and Disposables market is expected to grow at noteworthy CAGR around 5.5 % throughout the forecast period and reach around US$ 38 billion by 2026. The report provides analysis of global Laboratory Equipment and Disposables market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
For tests and research activities, medical laboratories need a range of equipment and consumables. They have been found in different laboratories, like research laboratories, clinical diagnostic laboratories, pathology laboratories, microbiology laboratories, educational laboratories etc, to conduct research, scientific experiments and analyzes of various scientific materials.
Laboratory equipment is the tools used in a laboratory by laboratory technicians or scientists. It is used to carry out several tasks, such as biology testing of patients, cell culture preparation mediums for research, tissue testing for the diagnosis of different diseases and other. Spectrophotometers, incubators, centrifuges, sonicators, microarrays and others are part of these equipments. Furthermore, laboratory activities require other tools, such as gloves, masks, pipettes, tips and others that can be disposed after use. These devices are an integral part of laboratory tasks, since they are used for each task. The laboratories use this equipment and devices to carry out clinical tests, pathology tests and microbiological tests.
Increase technological progress in laboratory equipment and boost in private and public health investments are factors that drive growth in the global laboratory equipment and disposable market. Moreover, favorable laboratory policy insurance policies and the surge in life and biotechnology research stimulate market growth. In some nations, however, high costs of advanced technology laboratory equipment and the lack of clinical laboratories are expected to hinder growth on the market. Moreover, the growth in clinical diagnostic testing in emerging economies worldwide and the high market potential provide lucrative opportunities for market growth.
Laboratory devices are the tools employed to work in the laboratory by laboratory technicians or scientists. They are used to carry through various tasks, including analyzing patients ' biological samples, preparing mediums for cell culture for research, tissue research for diagnosis of different diseases and others. Spectrometer, incubator, centrifuger, sonicator, microarray equipment and other devices are included in these machines. Laboratory activity also requires additional tools, such as gloves, masks, pipettes, tips and others, which can be used after use. These devices are an integral part of the laboratory tasks, since they are used in each task. The laboratories use these devices and disposable to conduct clinical tests, pathological tests, and microbiological testing.
The growth of the laboratory equipment and devices market is expected to be driven by nine laboratory procedures worldwide. The growth of market growth is also caused by an increase in the prevalence of diseases, an increase in the number of diagnostic labs, an increasing number of research activities and awareness amongst health professionals regarding the use of technologically advanced laboratory equipment.
Based on the product type, during the forecast period, the disposable segment is estimated to receive the largest share. Due to its essential role in every laboratory task, this segment shall maintain its dominant position during the entire analysis period. On the other hand, equipment is the fastest growing segment during the forecast period, with more laboratory tests worldwide and better results in the technological advances in equipment.
Due to their use in a wide variety of applications for the diagnosis of various conditions, spectrophotometers and micro array equipment were the largest and most rapidly growing segment of the laboratory equipment and disposable market.
In addition, cell cultivation consumables occupied the largest part of the market, based on the type of devices. The development of this segment is due to the use of cell cultures to identify biomarkers with a diseases. Cell cultures are also used to investigate the metabolic pathways that such biomarkers produce. By identifying new biomarkers of cancer, metabolites play a major role in cancer diagnosis, repetition, and prognosis. The global widespread prevalence of cancer and an increase in cancer-related research worldwide are therefore factors which boost cancer growth. Furthermore, because of the increased focus on regenerative medicine, cell imaging was the fastest growing segment on the market.
Because of easy access to equipment, the increase in R & D investments and the presence of most key players and the accessibility of skilled technicians, North America contributed to its largest proportion. Further, the rise in public and private investment in the region includes the other factors that boost market growth in Northern America. Asia-Pacific accounted for over one-fifth of the overall market in 2017, and is expected to continue as the market growth for Asia-Pacific is driven by the rise in purchasing power with the development of medical infrastructure. Increased growth in clinical diagnose testing; increased disposable income; boom in research, development and innovation activity; and awareness growth related to disease prevention, and early testing are at the forefront of Asia-Pacific's market share in laboratory equipment and equipment and disposables. In addition, the increase in the incidence in this region of infectious diseases like AIDS, tuberculosis, hepatitis and others fuel market growth, since they require laboratory tests that require the use of laboratory equipment and disposables. In addition, the widespread prevalence of cancer in that region is also a growth factor because pathological testing is required. For example, in 2017 the projected incidents of colon cancer in Japan were approximately 149,500 and 132,800 for stomach cancer in Japan according to National Cancer Center in Japan. The growth of the market for laboratory equipment and disposables is expected to be further driven.
Global Laboratory Equipment and Disposables Market, by Product
Global Laboratory Equipment and Disposables Market, by Geography
The market research study on “Laboratory Equipment and Disposables Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Laboratory Equipment and Disposables market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The major companies identified herein include Agilent Technologies, Inc., Bio-Rad Laboratories, Bruker Corp., Danaher corp., Fujifilm Irvine Scientific and Waters Corporation, PerkinElmer, Sartorius, Shimadzu Corporation and Waters Corporation.
This report includes a detailed quantitative analysis alongside current market trends in laboratory and disposable equipment between 2018 and 2026 to identify the opportunities prevailing, and the strategic evaluation of the global market for laboratory equipment and devices. The market forecast for laboratory equipment and devices is being studied between 2018 and 2026. The size and estimates of the laboratory equipment and the disposables sector are based on an extensive analysis of key developments. Strategic business planning is facilitated by a quality analysis based on innovative products. The strategies of development adopted by key market players are understandable.
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