The global laboratory supplies industry is set for unprecedented growth, with a projected Compound Annual Growth Rate (CAGR) of 8% from 2022 to 2032, as outlined in a recent Future Market Insights (FMI) report. The industry, currently valued at US$ 37.8 Billion in 2022, is expected to reach an impressive US$ 81.61 Billion by 2032. This surge follows a period of remarkable growth from 2017 to 2021, during which the sector experienced a substantial CAGR of 6%, highlighting the increasing demand and evolution of the industry.
Key factors contributing to this significant growth include a rise in investment for Research and Development (R&D) activities by countries, the integration of lab equipment with state-of-the-art technology, and an increased demand for plastics in the healthcare industry. The preference for plastics is driven by its numerous advantages over traditional materials like metal and glass, including cost-effectiveness, lightweight nature, versatility, and biocompatibility.
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Future Market Insights, a leading player in the laboratory supplies market, is strategically positioned to capitalize on this burgeoning industry. With a commitment to innovation and cutting-edge technology, Future Market Insights aligns seamlessly with the industry trends and demands. The company’s dedication to providing high-quality lab equipment and solutions makes it a key player in the global marketplace.
“We are thrilled to witness the unprecedented growth projected for the global laboratory supplies industry. At Future Market Insights, we have always been at the forefront of innovation, and this surge aligns with our commitment to providing top-notch lab solutions. Our investment in R&D, coupled with our focus on integrating advanced technology, positions us strategically to meet the evolving needs of the market,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
As the market expands, FMI remains dedicated to meeting the increasing demand for cutting-edge laboratory supplies and contributing to advancements in research and development globally. With a proven track record and a customer-centric approach, FMI is well-poised for sustained success in this dynamic and growing industry.
Key Takeaways from Market Study:
- The equipment segment dominates the market with a share of over 63.4% due to the high costs associated with them
- The disposables segment is anticipated to witness a rapid growth rate of 8.3% during the forecast period as they help in avoiding contamination and reducing errors in the procedures
- Among disposables, the tube segment accounts for a maximum share of 19.2%. They are mostly used in laboratories to view, store, and transport samples
- North America was the leading regional segment in terms of revenue and market share.
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Market Competition:
Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market.
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Danaher Corporation
- Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.).
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Sartorius AG
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- Waters Corporation
Recent Development:
- In March 2022, Precisa Gravimetrics AG introduced their Halo range of sophisticated UV-Vis spectrophotometers GB 30 under the Dynamica brand.
- In February 2021, INTEGRA Biosciences launched the D-ONE single-channel pipetting module for hands-free transfers from individual tubes or wells using the ASSIST PLUS pipetting robot. This system effectively automates tedious tasks such as serial dilutions, sample normalization, hit picking, or pipetting of complex plate layouts, increasing productivity and reproducibility in the lab while reducing hands-on time, processing errors, and physical strain.
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Key Segments Profiled in the Laboratory Supplies Market Industry Survey:
Laboratory Supplies Market By Product Type:
- 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
Laboratory Supplies Market By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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