The global laboratory supplies market is poised for remarkable expansion, according to a new report from Future Market Insights (FMI). The report projects a robust Compound Annual Growth Rate (CAGR) of 8% over the next decade, forecasting a leap from the current valuation of USD 37.8 billion in 2022 to an impressive USD 81.61 billion by 2032.
This anticipated growth follows a period of substantial development between 2017 and 2021, during which the market demonstrated a notable CAGR of 6%. The consistent upward trend highlights the increasing demand and ongoing evolution within the laboratory supplies sector.
Key Drivers of Market Expansion:
- Technological Advancements: Continuous innovations in laboratory technology are enhancing the efficiency and capabilities of laboratory supplies.
- Increased R&D Activities: The surge in research and development efforts across various sectors is driving demand for sophisticated laboratory equipment and consumables.
- Rising Investments in Infrastructure: Growing investments in laboratory infrastructure are contributing to the expansion of the market.
As laboratories evolve and expand their capabilities, the need for advanced and efficient laboratory supplies is expected to increase significantly.
Industry Insights:
“The laboratory supplies market is on the brink of significant transformation, propelled by advancements in technology and heightened research and development activities,” said an FMI. “Our findings indicate a strong and sustained growth pattern, underscoring the essential role of laboratory supplies in various scientific and industrial applications.”
Future Outlook:
Key contributors to this growth include increased investments in healthcare infrastructure, the proliferation of research activities in life sciences, and the escalating demand for advanced laboratory instruments and consumables. As the industry continues to innovate and expand, stakeholders can expect substantial opportunities for growth and development.
Get the Latest on Laboratory Supplies: Our Full Report Highlights Key Trends and Insights!
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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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