According to Arizton’s latest research report, laboratory equipment and consumables market will grow at a CAGR of 5.80% during 2022-2028.
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Laboratory equipment services are the most integral and vital part of the laboratory industry. The growing number of laboratories and advanced products launched in the market drive the demand for lab equipment services. OEMs only deliver lab equipment services for a particular time after vendors launch the product due to the product being new in the market and developed by technologies. Multi-vendor lab equipment services are also known as LAM or single-source services. They are privately managed laboratory equipment maintenance services for multiple vendors from a single provider. Multi-vendor services are included but not limited to only one service. These services offer repair, inventory management, purchasing, installation, equipment logistics, calibration, and compliance. In contrast to contracting third parties for lab equipment services, this service model binds a group of laboratories to obtain many services. Lab networks help deliver services that are unavailable through multi-vendor service providers. This is a major benefit of multi-vendor lab equipment service providers. Some leading laboratory equipment manufacturing companies offer multi-vendor services. They are among the top lab equipment manufacturers and leading service providers in the global market. Vendors in the market experience competition from various service providers. Currently, two major lab equipment service providers are available in the market with 60% and 40% market penetration. The service providers are OEMs and third-party service providers. Almost all manufacturing companies offer lab equipment services for particular periods, such as bi-annual or annual services. Third-party service providers offer various services for multiple lab equipment brands with one point of contact. Both entities constantly try to hold major share and penetration.
North America to Lead the Market Growth
North America is the leading region in the global laboratory equipment services market, accounting for higher revenue generation and market share in 2022. It is expected to dominate the market during the forecast period. R&D activities across North America increase across every industry that require laboratories and associated tools. Increased R&D activities accelerate the demand for lab equipment services.
The region’s rapidly growing healthcare and life sciences sector delivers lucrative market growth opportunities. In healthcare sectors, the significant patient population demand for clinical and diagnostics tests fuels the clinical lab testing volume and impacts lab equipment conditions, where lab repair, maintenance, calibration, and other services are in high demand. Furthermore, the rapid development in pharma, biotech, and medical devices companies accelerates the demand for advanced and automated lab equipment where the need for preventive and other lab services is significantly high. The region has many hospitals, clinics, and other health laboratories. Vendors in North America have opportunities to focus on the healthcare industry with the application of lab equipment in these settings to achieve significant revenue.
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Vendors
Key Company Profiles
Agilent Technologies
Bruker
Bio-Rad Laboratories
Danaher
FUJIFILM Holding Corporation
PerkinElmer Inc.
Shimadzu Corporation
Thermo Fisher Scientific
Waters Corporation
Other Prominent Vendors
Abbott
Agappe Diagnostics
altona Diagnostics
Analyticon Biotechnologies
ARKRAY
Balio Diagnostics
BD
Biocartis
bioMérieux
Bioway Biological Technology
Boule Diagnostics
BRAND
Borosil
BIOTEC
CellVision
CLINDIAG SYSTEMS
CONTEC MEDICAL SYSTEMS
Convergent Technologies
cpc Diagnostics
Corning Incorporated
CPM Scientifica
CELLINK
Dexcom
DiaSorin S.p.A.
Diagon
Diatron
DIALAB
EKF Diagnostics Holdings plc
ELITechGroup
Eppendorf
FORMULATRIX
Flow Robotics
Gilson
Greiner Bio-One International
HiTec Zang
Hudson Robotics
Hamilton Company
HighRes Biosolutions
Integra Biosciences
Ingersoll Rand
METTLER TOLEDO
Metrohm
Orochem Technologies
Sartorius
SPT Labtech
Siemens Healthineers
Tecan
Wuhan Bonnin Technology
DIRUI
Drucker Diagnostics
Erba Diagnostics
Genrui Biotech
Hologic
High Technology
HORIBA
Luxlighting Technology
ACMAS Technologies
Labtop Instruments
ALSIN Technology Services
BIONICS SCIENTIFIC TECHNOLOGIES
Market Segmentation
Product: Consumables & Lab Apparatus, IVD Equipment, and Core & General Lab Equipment
Laboratory Type: Clinical & Diagnostics Labs, Pharma, Biotech, & Medical Device Companies, Academic & Research Lab, and Other Labs
Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report:
How big is the laboratory equipment and consumables market?
What is the projected growth rate of the global laboratory equipment and consumables market?
Who are the key players in the global laboratory equipment and consumables market?
What are the rising trends in the laboratory equipment and consumables market?
Which region holds the most significant global laboratory equipment and consumables market share?
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