About Laboratory Equipment Services
The laboratory equipment market is a vital component of the broader scientific research and diagnostic industry. It encompasses a wide range of instruments, devices, and tools used in research, analysis, testing, and experimentation across various sectors, including healthcare, life sciences, pharmaceuticals, biotechnology, environmental sciences, academia, and industrial applications. The laboratory equipment market is experiencing steady growth due to factors such as increased research and development activities, technological advancements, quality control and assurance requirements, and the growing need for accurate and reliable data in various industries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The competitive landscape of the laboratory equipment industry is diverse and dynamic, with numerous companies vying for market share in various segments. These companies provide a wide range of equipment, instruments, and services to support research, analysis, diagnostics, and testing across multiple industries Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Laboratory Equipment Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Agilent Technologies (United States), Thermo Fisher Scientific Inc. (United States), Waters Corporation (United States), Danaher Corporation (United States), Mindray Medical International Limited (China), Hitachi High-Technologies Corporation (Japan), Eppendorf AG (Germany), Perkinelmer, Inc. (United States), Pace Analytical Services, Inc. (United States), Merck Millipore (United States), Siemens Healthcare (Germany) and ACEA Biosciences (California) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hettich Instruments, LP. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Laboratory Equipment Services market by Type (General Equipment, Support Equipment, Specialty Equipment, Analytical Equipment and Others), Application (Pharmaceutical and Biotechnology Companies, Clinical and Diagnostic Laboratories, Academic Institutes, Research laboratories and Other) and Region.
On the basis of geography, the market of Laboratory Equipment Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Service Contract, the sub-segment i.e. Standardized will boost the Laboratory Equipment Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service , the sub-segment i.e. Repair will boost the Laboratory Equipment Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Provider, the sub-segment i.e. Original Equipment Manufacturers will boost the Laboratory Equipment Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Laboratory Automation
Market Growth Drivers:
Increasing Healthcare Infrastructure in Emerging Economies and Growing Need for Effective Diagnosis
Challenges:
Extremely Fragmented Market
Restraints:
Growing Emphasis on Reducing Healthcare Cost
Opportunities:
Up Surging Demand for Laboratory Automation
Market Leaders and their expansionary development strategies
In February 2022, Agilent Technologies acquired cutting-edge AI technology created by Virtual Control, a developer of AI and machine learning software specializing in the creation of innovative analytical solutions for laboratory testing
In January 2021, Thermo Fisher Scientific Inc. introduced "Managed Equipment Solutions," a novel subscription-based service that combines the acquisition of instruments and equipment with the provision of consumables, application support, software, training, and extended service under a convenient and cost-effective agreement
Laboratory equipment must conform to specific certification and compliance standards, both nationally and internationally. These standards often relate to quality, safety, and performance. For example, CE (Conformité Européenne) certification is required in the European Union for various laboratory equipment
Key Target Audience
Equipment Manufacturing Companies, Pharmaceutical and Biotech Companies, Healthcare Institutions, Laboratory Equipment Insurance Providers, Market Research and Consulting Firms, Government Agencies, Research Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.