Laboratory Equipment Market In-Depth Analysis Globally by Top Key Players
Laboratory equipment are the tools used by lab technicians
or scientists to work in a laboratory. These instruments and devices aid in
various tasks such as preparation of cell culture mediums for research,
analysis of the biological samples of patients, studying tissues for diagnosis
of various diseases, and others.
The growth of the global laboratory
equipment market is driven by various factors such as increasing demand for
lab automation, the shift from lab-based diagnosis to the point of care
diagnosis, increasing biomedical research, and rising innovations by major
players. However, the lack of laboratory setups in developing countries is
projected to hamper the growth of the global laboratory equipment market. According
to MRFR analysis, the global laboratory equipment market is expected to
register a CAGR of ~7.30% during the forecast period of 2019 to 2025 and is
expected to reach USD 58,960 Million by 2025.
The global laboratory equipment market is currently
dominated by several market players. The key players are involved in product
launches and strategic collaborations to strengthen their market positions. For
instance, in October 2018, Eppendorf AG presents first internally developed the
CO2 incubator.
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Key Players
Some of the key players in the global laboratory equipment
market are Agilent Technologies, Inc. (US), BD (US), Beckman Coulter, Inc.
(US), Bio-Rad Laboratories, Inc. (US), Bruker (US), Eppendorf AG (Germany), F.
Hoffmann LA-Roche AG (Switzerland), PerkinElmer Inc. (US), Shimadzu Corporation
(Japan), Thermo Fisher Scientific Inc. (US), and Waters (US), among others.
Segmentation
The global laboratory equipment market has been segmented
based on product type, application, and end user.
The market, based on product type, has been divided into
incubators, centrifuges, spectrometers, scopes, sonicators, autoclaves, and
others. The incubators segment is likely to be the largest during the review
period due to the growing use of this device in various areas of testing. The
spectrometers segment is predicted to be the fastest-growing due to the increasing
product launches in the market. For instance, in April 2018, Bruker launched
INVENIO Fourier Transform Infrared (FT-IR) research spectrometer.
The global laboratory equipment market has been segmented,
on the basis of application, into biochemistry, endocrinology, microbiology,
hematology, genetic testing, and others. The biochemistry segment is expected
to hold the majority share of the market owing to the wide number of
biochemical tests carried out in the laboratories. The endocrinology segment is
expected to be the fastest-growing due to the rising patient pool, coupled with
the increasing number of tests.
The end users of the market are hospitals and clinics,
diagnostic centers, and others. The hospitals and clinics segment is expected
to hold the largest share of the market due to the increasing number of
hospitals and clinics using laboratory equipment. The diagnostic centers
segment is expected to be the fastest-growing owing to the increased preference
of medical professionals for carrying out diagnostic tests.
Regional Analysis
The market has been divided, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. The Americas is
expected to be the largest market owing to the rising per capita healthcare
expenditure. The laboratory equipment market in the Americas has further been
branched into North America and Latin America, with the North American market
divided into the US and Canada. The European laboratory equipment market has
been categorized as Western Europe and Eastern Europe. The Western European
market has further been classified as Germany, France, the UK, Italy, Spain,
and the rest of Western Europe. The laboratory equipment market in Asia-Pacific
has been segmented into Japan, China, India, South Korea, Australia, and the rest
of Asia-Pacific. Due to the increasing clinical laboratories and increasing
pool of patient population, the market in Asia-Pacific is expected to be the
fastest-growing. The laboratory equipment market in the Middle East &
Africa has been divided into the Middle East and Africa.
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