info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Laboratory Equipment Market Analysis

ID: MRFR//6893-HCR | 111 Pages | Author: Rahul Gotadki| November 2024

The foremost factor influencing the growth of the market is the escalating focus on research and development (R&D). A prime example of this impact is seen in amplification-based assays, such as nucleic acid amplification through the polymerase chain reaction (PCR), which has brought about a revolutionary transformation in molecular diagnosis. This method relies on the extraction and purification, followed by exponential amplification of the target sequence. Subsequently, the target is identified using fluorescence-based detection. In the realm of PCR systems, recent advancements have amalgamated the previously separate steps of extraction, amplification, and detection into a single unit. This integration of processes within one unit underscores the increasing trend towards automation, proving to be an immensely appealing strategy in the domain of microbiological tests.
Microfluidic technology represents another noteworthy development. This innovation has significantly reduced the quantity of analytes required to produce results, ensuring minimal reagent usage while maintaining high sensitivity. The adoption of microfluidic technology showcases a commitment to efficiency and resource optimization in microbiology testing.

Prioritizing healthcare is a paramount concern for governments worldwide. Governments are actively engaging in collaborations with companies to drive research and development initiatives, ultimately leading to the creation of new or improved solutions for combating infectious diseases. Collaborative efforts between two or more companies for joint research or product development are becoming increasingly prevalent. Furthermore, governments and companies are channeling funds into academic institutes and universities to support research endeavors. This surge in investment in research and development is opening up substantial opportunities for the microbiology testing market.

The alliance between governments and companies in the pursuit of R&D is a strategic response to the pressing need for enhanced healthcare solutions, particularly in the realm of infectious diseases. The collaborative approach facilitates the pooling of expertise and resources, fostering an environment conducive to innovation. As a result, new and improved products are brought to the market, addressing the evolving challenges posed by infectious diseases.

In this landscape, the increasing investments in research and development emerge as a driving force propelling the microbiology testing market forward. The collaboration between governments, companies, and academic institutions not only fosters innovation but also ensures that the market is well-positioned to meet the growing demands for advanced diagnostic solutions.

The heightened emphasis on research and development is a pivotal factor shaping the trajectory of the microbiology testing market. Advancements in amplification-based assays, exemplified by PCR systems, underscore the trend toward automation and integrated testing processes. The emergence of microfluidic technology further emphasizes the commitment to efficiency and resource optimization in microbiology testing. The collaborative efforts between governments, companies, and academic institutions in the pursuit of R&D signify a concerted push towards creating impactful solutions for the healthcare sector, particularly in the battle against infectious diseases. The increasing investments in R&D not only reflect the commitment to innovation but also present substantial opportunities for the microbiology testing market to expand and evolve in response to emerging healthcare challenges.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Product Type, Application, End Use, and Region

Global Laboratory Equipment Market Overview


Laboratory Equipment Market Size was valued at USD 52.65 billion in 2023 and is projected to grow from USD 56.60 Billion in 2024 to USD 102.11 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.66% during the forecast period (2024 - 2032). 


Growing research activity in the pharmaceutical and biotechnology sectors are the key market drivers enhancing the market growth.


Global Laboratory Equipment Market


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


In January 2023, Siemens Healthineers announced the creation of a Centre of Excellence for Immunoassay Instrument Research and Development (R&D) in Swords, Ireland. The primary goal of the new Centre will be to unlock revolutionary advancements in laboratory devices used for detecting cancer, infectious diseases, and blood problems. Siemens Healthineers plans to make a significant financial commitment to enhance the production and engineering facilities that now produces medical diagnostic equipment worldwide, with an investment totaling several million euros. 


The Irish Government is providing funds for this project through IDA Ireland. The investment will empower physicians to better patient care by equipping the diagnostic laboratories that assist them with improved precision, efficiency, and reliability. Moreover, it will create supplementary job prospects. Siemens Healthineers plans to create 100 new jobs over the next few years through this significant investment. Out of these, 65 positions will be in high-level engineering, focusing on data science, software engineering, machine learning, artificial intelligence, and systems engineering.


In June 2023, Revvity, Inc. introduced its Signals Research Suite. This integrated, cloud-based software-as-a-service (SaaS) platform enables scientific cooperation across several research and development domains, such as the creation of specialized chemicals and the exploration of new drugs. Revvity Signals Software, the section of Revvity that focuses on software and informatics, has recently launched a solution that can be accessed worldwide. 


The solution integrates the Revvity Signals Notebook, VitroVivo, and Inventa applications to create a powerful and cohesive system that offers extensive assistance throughout the drug development process. This includes support for early research, in vitro testing, safety assessment, early development, and the creation of innovative specialty chemicals. The Signals Research Suite enables scientists to improve their work by merging the products they are already familiar with into a unified solution. This approach helps them avoid the complexities and inefficiencies of a fragmented ecosystem that is focused on individual applications.


Laboratory Equipment Market Trends



  • Growing Requirement of Laboratory Equipment to boost market growth


The growing requirement of laboratory equipment is directly proportional to laboratory equipment services' growth. According to the World Health Organization (WHO), chronic diseases such as cardiovascular diseases, cancer, and diabetes are the leading causes of death globally. For example, in 2024, cardiovascular diseases alone are responsible for over 17 million deaths annually, driving the need for advanced diagnostic equipment.


Therefore, the growing need of laboratory equipment for the effective and timely diagnosis of diseases will drive the growth for this market. Additionally, the increased prevalence of acute and chronic diseases across the globe, which might require laboratory equipment, is expected to accelerate the market's overall growth.


Furthermore, the rapid growth in pharmaceutical and biotechnology industries along with the expanding healthcare sector are also expected to fuel market growth. Moreover, the increasing demand for effective diagnosis of diseases will further expand the future growth of the laboratory equipment services market.


According to the World Bank, global healthcare spending is expected to reach $10 trillion by 2024, with a significant portion allocated to diagnostic services and equipment. This reflects the emphasis on improving diagnostic capabilities and early disease detection.


The increasing number of investments in the research activities in pharmaceutical and biotechnology industries are also projected to offer numerous growth opportunities the growth of the market. Moreover, the rising investments and government research funding to support biomedical research activities and increased government funding for research organizations and academic institutions are also estimated to generate lucrative opportunities for the market. However, high cost of the services contracts may impede demand growth of the Laboratory Equipment sector revenue.


Laboratory Equipment Market Segment Insights


Laboratory Equipment Product Type Insights


The Laboratory Equipment Industry segmentation, based on product type, includes Incubators, Centrifuges, Spectrometers, Scopes, Sonicators, Autoclaves, and others. Each product has a very crucial role when carrying out research on cell or tissue culture, which is essential to studying drug toxicology, oncology therapies, and personalized medicine. The incubators segment is the largest owing to the high equipment costs. With the help of the equipment, process controls, experiments, and quality assurance are carried out. Scientific institutions such as laboratories, research centers, and companies need quality laboratory equipment to perform a variety of tests, studies, and experiments. 


The results of these activities depend upon the quality, strength, and durability of the equipment. They aid to offer accurate results and also improve work efficiency. This is eventually creating demand for the equipment and boosting the market growth.


Latest Industry Developments in Laboratory Equipment Product Type Segment


Thermo Fisher Scientific Inc. - June 2024: Thermo Fisher Scientific has introduced an advanced line of automated incubators designed for high-throughput applications. These incubators feature integrated AI-driven systems for real-time monitoring and control of temperature and humidity, ensuring optimal conditions for cell cultures and microbiological samples. The new models also include a user-friendly interface with remote access capabilities, enabling researchers to manage experiments and receive alerts from anywhere.


Bruker (US) - May 2024: Bruker unveiled a cutting-edge mass spectrometer with enhanced sensitivity and resolution. The new model integrates advanced ionization techniques and high-resolution detectors, offering improved performance for complex biomolecular analyses. This mass spectrometer is designed to meet the needs of researchers in proteomics and metabolomics, providing faster and more accurate results for a wide range of applications.


Eppendorf AG (Germany) - April 2024: Eppendorf AG launched a state-of-the-art centrifuge equipped with a novel rotor technology that reduces noise and vibration during operation. The new centrifuge model features an intuitive touchscreen interface and automatic rotor recognition, enhancing user convenience and safety. Additionally, the centrifuge incorporates energy-efficient components that contribute to reduced operational costs and environmental impact.


Laboratory Equipment Application Insights


The Laboratory Equipment market segmentation, based on application, includes Biochemistry, Endocrinology, Microbiology, Genetic Testing, and others. The biochemistry segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2024-2032. This is due to the funding to support biomedical research activities by government authorities has helped the key players focus on research activities and indulge in collaboration and partnerships with other organizations. Hence, rising applications of biochemistry segment for Laboratory Equipment positively impacts the market growth.


Laboratory Equipment End User Insights


Based on End Users, the Laboratory Equipment industry has been segmented into Hospitals and Clinics, and others. Hospitals and Clinics held the largest segment share in 2023, owing to accelerated surge in research in drug discovery by dominant firms, increasing the predominance of ailments, and expanding consciousness about health. The extensive series of applications and the boost in the count of clinical scientists involved in clinical trials and added experiments targeted are further propelling the growth of this segment.


June 2024: Agilent Technologies announced the release of the Agilent 6495B Triple Quadrupole LC/MS System, which offers enhanced sensitivity and quantitation capabilities for clinical research and diagnostics. This system is designed to improve the detection of low-abundance biomarkers and is aimed at advancing personalized medicine.


May 2024: Thermo Fisher Scientific introduced the Thermo Scientific Orbitrap Eclipse Tribrid Mass Spectrometer, which features advanced ion optics and enhanced resolution for high-throughput proteomics and metabolomics. This system aims to provide more detailed molecular insights and support complex clinical research applications.


April 2024: Bio-Rad Laboratories launched the Bio-Rad PrecisionPlus Protein Standards, which offer improved accuracy and reproducibility for protein quantification in research and clinical settings. This development enhances the reliability of quantitative protein analysis and supports advanced diagnostic applications.


Figure 2 Laboratory Equipment Market, by End User, 2024 & 2032 (USD Billion)


Laboratory Equipment Market, by End User, 2024 & 2032 (USD Billion)


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Laboratory Equipment Regional Insights


By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Laboratory Equipment Industry accounted for USD 20.54 billion and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the surging grants for schools and private organizations for laboratory equipment installation which may involve analytical equipment along with the developing healthcare infrastructure across the region.


Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 3 Laboratory Equipment Market Share By Region 2024 (%)


Laboratory Equipment Market Share By Region 2024 (%)


Source Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Laboratory Equipment market accounts for the second-largest market share due to the wing to the increasing acceptance of the most-recent technologies and the well-entrenched healthcare infrastructure with laboratory equipment services including analytical equipment in the region. Further, the Germany Laboratory Equipment Industry held the largest market share, and the UK Laboratory Equipment Industry was the fastest growing market in the European region


The Asia-Pacific Laboratory Equipment Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to rising import of laboratory equipment, increasing number of CROs, surging research and development activities. Moreover, China Laboratory Equipment Sector held the largest market share, and the India Laboratory Equipment Sector was the fastest growing market in the Asia-Pacific region


Laboratory Equipment Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the Lab Equipment market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Laboratory Equipment industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the Laboratory Equipment industry to benefit clients and expand the market sector is to smaller and easy-to-use instruments with built-in connectivity. In recent years, Laboratory Equipment industry has provided equipment with some of the most significant benefits. The Laboratory Equipment Industry major player such as Beroe, Thermo Fisher Scientific Inc. (US), Agilent Technologies Inc. (US), BD (US), Beckman Coulter Inc. (US), Bio-Rad Laboratories Inc. and others are working to expand the market demand by investing in research and development activities.


Thermo Fisher Scientific Inc. is an American supplier of scientific instrumentation, reagents and consumables, and software services based in Waltham, Massachusetts. Thermo Fisher Scientific has acquired other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation, Alfa Aesar, Affymetrix , FEI Company, BD Advanced Bioprocessing, and PPD. In May 2020, CSL Limited, a worldwide biotechnology firm, and Thermo Fisher Scientific Inc., the world leader in serving science, have formed a strategic agreement to assist fulfil the growing demand for biologic therapeutics while also driving CSL's broader production objectives. 


CSL's product portfolio will be supported by Thermo Fisher's pharma services network, which includes medication development, biologics production, sterile fill-finish, packaging, and clinical trial logistics.


Also, The SaaS-based provider of procurement intelligence and analytics is called Beroe. We provide expertise, data, and insights that help businesses source products and services more wisely, which lowers costs, lowers risk, and increases profitability. Since more than 15 years ago, Beroe has been a dependable source of intelligence. Currently, 10,000 businesses ly, including 400 Fortune 500 firms, cooperate with Beroe. 


In June 2022, Positive Purchasing has announced a strategic partnership with procurement intelligence and analytics provider, Beroe. The move makes Positive Purchasing’s digital platform, Procleus, available on Beroe LIVE.Ai, a procurement productivity suite that provides access to the latest.


Key Companies in the Laboratory Equipment market includes



  • Agilent Technologies Inc. (US)

  • BD (US)

  • Beckman Coulter Inc. (US)

  • Bio-Rad Laboratories Inc. (US)

  • Bruker (US)

  • Eppendorf AG (Germany)

  • Hoffmann LA-Roche AG (Switzerland)

  • PerkinElmer Inc. (US)

  • Shimadzu Corporation (Japan)

  • Thermo Fisher Scientific Inc. (US)


Laboratory Equipment Industry Developments


October 2021: Pace Analytical® Services, LLC, favored provider of in-lab, mobile, and emergency onsite specialty-contaminant and regulatory experiment and investigation services, declared that it has acquired ProScience Analytical Services, Inc, a provider of environmental analytical services in north eastern U.S. This acquisition offers progressive Transmission Electron Microscopy (TEM) capacities to the Pace laboratory network.


May 2021: Waters' introduced pump with the role of mass spectrometry research in the combat against SARS-CoV-2. Scientists can presently directly measure particular viral NCAP peptides in a greatly re-creatable manner with the Waters SARS-CoV-2 LC-MS Kit (RUO), permitting breakthrough research of the SARS-CoV-2 virus.


Laboratory Equipment Market Segmentation


Laboratory Equipment Product Type Outlook



  • Incubators

  • Centrifuges

  • Spectrometers

  • Scopes

  • Sonicators

  • Autoclaves

  • Others


Laboratory Equipment Application Outlook



  • Biochemistry

  • Endocrinology

  • Microbiology

  • Genetic Testing

  • Others


Laboratory Equipment End User Outlook



  • Hospitals and Clinics

  • Others


Laboratory Equipment Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.