Global Laboratory Equipment Market Size, Share, Growth, Report 2023-2028
- May 15, 2023
- | 129
Market Outlook:
According to a new report by Expert Market Research titled ?Global?Laboratory Equipment Market Growth, Share, Analysis, Size, Report, Demand, Forecast 2023-2028?, the global laboratory equipment market was valued at USD 28.5 billion in 2022. The laboratory equipment market size is expected to reach USD 50.87 billion by 2028, growing at a CAGR of 10.30% during the forecast period 2023-2028. The growth of the market is attributed to the increasing demand for laboratory equipment in the pharmaceutical, biotechnology, and medical device industries. Laboratory equipment is a broad term that encompasses a wide range of instruments and devices used in scientific research and development. These instruments are used to conduct a variety of tests and experiments, including chemical analysis, biological testing, and physical measurements. Laboratory equipment is essential for the development of new drugs, medical devices, and other products. Get a Free Sample Report with Table of Contents???https://www.expertmarketresearch.com/reports/laboratory-equipment-market/requestsampleMarket Dynamics
The growth of the laboratory equipment market is being driven by the increasing demand for laboratory equipment in the pharmaceutical, biotechnology, and medical device industries. The pharmaceutical industry is a major driver of the laboratory equipment market, as it requires a wide range of instruments and devices for the development and testing of new drugs. The biotechnology industry is also a major driver of the laboratory equipment market, as it requires a wide range of instruments and devices for the development of new biological products. The medical device industry is also a major driver of the laboratory equipment market, as it requires a wide range of instruments and devices for the development and testing of new medical devices. Read Full Report with Table of Contents???https://www.expertmarketresearch.com/reports/laboratory-equipment-marketMarket Segmentation
The laboratory equipment market can be segmented by type, end-user, and region. By Type- Analytical instruments
- Life science instruments
- Medical devices
- Others
- Pharmaceutical
- Biotechnology
- Medical device
- Academic & research institutes
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Trends
The following are some of the key trends that are expected to impact the growth of the laboratory equipment market during the forecast period:- Increasing demand for laboratory equipment in the pharmaceutical, biotechnology, and medical device industries
- Growing adoption of automation in laboratories
- Rising focus on personalized medicine
- Increasing government funding for research and development
Market Opportunities
The following are some of the key opportunities that are expected to exist in the laboratory equipment market during the forecast period:- Growing demand for laboratory equipment in emerging markets
- Increasing adoption of new technologies in the manufacturing of laboratory equipment
- Rising focus on developing customized laboratory equipment
Market Challenges
The following are some of the key challenges that are expected to impact the growth of the laboratory equipment market during the forecast period:- High cost of laboratory equipment
- Availability of counterfeit laboratory equipment
- Lack of skilled personnel to operate laboratory equipment
Vendor Landscape
The laboratory equipment market is dominated by a few major players, such as:- Thermo Fisher Scientific
- Danaher Corporation
- Agilent Technologies
- Waters Corporation
- PerkinElmer
- Roche
- Siemens Healthineers
- Abbott Laboratories
- Bio-Rad Laboratories
- Bruker Corporation
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