From groundbreaking CRISPR research to life-saving drug discovery, the hidden engine powering modern science is a thriving global laboratory equipment market projected to surge from $45.6 billion to $72.4 billion this decade.
Key Takeaways
- The global laboratory equipment market size was valued at USD 45.6 billion in 2022 and is projected to reach USD 72.4 billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030.
- North America dominated the laboratory equipment market with a revenue share of 38.5% in 2022 due to high R&D investments.
- The analytical instruments segment accounted for over 42% of the laboratory equipment market revenue in 2022.
- Thermo Fisher Scientific held 22.5% market share in global laboratory equipment in 2022.
- Danaher Corporation captured 18.3% revenue share in lab equipment market 2022.
- Agilent Technologies accounted for 12.1% of analytical instruments segment in 2022.
- North America laboratory equipment market share was 38.5% of global in 2022.
- U.S. accounted for 65% of North American lab equipment market revenue in 2022.
- Europe held 30.2% global share in laboratory equipment sales 2022.
- Analytical instruments segment held 42.3% revenue share in laboratory equipment market 2022.
- Life science equipment accounted for 28.6% of total lab equipment market 2022.
- Centrifuges sub-segment 15.2% share within analytical instruments 2022.
- Increasing R&D investments in pharma drove 25% of lab equipment demand growth 2022.
- Adoption of automation in labs increased 18.4% YoY in 2022.
- Rise of point-of-care testing boosted portable lab equipment by 22% 2022.
The global laboratory equipment market is steadily growing with significant investments in North America and rapid expansion in Asia Pacific.
Key Players and Market Share
- Thermo Fisher Scientific held 22.5% market share in global laboratory equipment in 2022.
- Danaher Corporation captured 18.3% revenue share in lab equipment market 2022.
- Agilent Technologies accounted for 12.1% of analytical instruments segment in 2022.
- Waters Corporation had 9.7% share in chromatography equipment market 2022.
- Bruker Corporation's lab equipment revenue reached USD 2.5 billion in 2022, 11.4% market share in spectrometers.
- PerkinElmer Inc. held 8.2% global share in life science instruments 2022.
- Eppendorf AG dominated centrifuges with 15.6% market share in 2022.
- Becton Dickinson & Co. 10.8% share in lab incubators market 2022.
- Thermo Fisher’s centrifuges division generated USD 450 million revenue 2022, 20% share.
- Merck KGaA held 7.9% in laboratory freezers and refrigerators 2022.
- Shimadzu Corp. 14.2% market share in lab balances 2022.
- Mettler-Toledo International 16.5% share in analytical balances segment 2022.
- Olympus Corporation 13.1% in microscopes market share 2022.
- Zeiss Group held 11.8% global microscopes revenue share 2022.
- Sartorius AG 9.4% in lab filtration equipment 2022.
- Bio-Rad Laboratories 8.7% share in electrophoresis systems 2022.
- Hitachi High-Tech 12.3% in electron microscopes 2022.
- Illumina Inc. 17.2% in next-gen sequencing equipment 2022.
Key Players and Market Share Interpretation
The global lab is essentially a high-stakes, multi-trillion-dollar playground where a few giants jostle for the top of every slide, scale, and sequencer, proving that even in science, it’s a game of thrones fought with pipettes and market share.
Market Size and Growth
- The global laboratory equipment market size was valued at USD 45.6 billion in 2022 and is projected to reach USD 72.4 billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030.
- North America dominated the laboratory equipment market with a revenue share of 38.5% in 2022 due to high R&D investments.
- The analytical instruments segment accounted for over 42% of the laboratory equipment market revenue in 2022.
- Laboratory equipment market in Asia Pacific is expected to grow at the highest CAGR of 7.1% from 2023 to 2030 owing to expanding biotech sector.
- The global lab centrifuges market was valued at USD 2.1 billion in 2022 and anticipated to expand at a CAGR of 5.2% from 2023 to 2030.
- U.S. laboratory equipment market revenue reached USD 15.2 billion in 2022, driven by pharmaceutical R&D.
- Europe laboratory equipment market is projected to grow from USD 12.8 billion in 2022 to USD 19.5 billion by 2030 at CAGR 5.4%.
- The life science instruments segment held 35.2% market share in laboratory equipment in 2022 globally.
- Global laboratory incubators market size was USD 1.2 billion in 2022, expected CAGR 6.8% to 2030.
- Laboratory freezers market valued at USD 1.8 billion in 2022, growing at 5.5% CAGR through 2030.
- The overall laboratory equipment market CAGR was 6.2% from 2018-2022 globally.
- China laboratory equipment market to reach USD 8.5 billion by 2028 at 8.3% CAGR.
- Spectrometers segment in lab equipment market grew 7.4% CAGR 2020-2023.
- Global lab balances and scales market USD 1.1 billion in 2023, CAGR 4.9% forecast.
- Laboratory ovens market size USD 0.9 billion 2022, 5.7% CAGR to 2030.
- U.S. analytical lab instruments market USD 7.8 billion 2022, 6.1% CAGR.
- India lab equipment market projected USD 2.4 billion by 2027, 12.5% CAGR.
- Chromatography instruments market USD 8.5 billion 2022, 6.8% CAGR to 2030.
- Microscopes lab equipment segment USD 6.2 billion 2022, 5.3% CAGR.
- Lab water purifiers market USD 0.7 billion 2022, 7.2% CAGR forecast.
Market Size and Growth Interpretation
While North America currently leads the scientific arms race, the explosive growth in Asia-Pacific, particularly India's staggering 12.5% CAGR, signals a global shift where the next big discovery is just as likely to spin out of a Bangalore lab as a Boston one.
Product Segments
- Analytical instruments segment held 42.3% revenue share in laboratory equipment market 2022.
- Life science equipment accounted for 28.6% of total lab equipment market 2022.
- Centrifuges sub-segment 15.2% share within analytical instruments 2022.
- Spectrometers generated USD 7.2 billion in 2022, 25% of analytical.
- Microscopes segment USD 6.4 billion revenue 2022 globally.
- Chromatography systems 22.1% share in separation equipment 2022.
- PCR instruments USD 3.1 billion in life science segment 2022.
- Laboratory incubators 12.4% of general lab equipment 2022.
- Freezers and refrigerators USD 2.0 billion, 18% of storage equipment 2022.
- Balances and scales 14.7% share in measuring instruments 2022.
- Ovens and furnaces USD 1.0 billion revenue 2022 in thermal equipment.
- Autoclaves 11.5% of sterilization equipment market 2022.
- Flow cytometers USD 4.2 billion in 2022 cell analysis segment.
- Electron microscopes 8.9% of total microscopes market 2022.
- Water baths 9.2% share in temperature control equipment 2022.
- Electrophoresis systems USD 1.8 billion 2022 in biomolecule analysis.
- Pipettes and liquid handlers 16.3% of consumables-adjacent equipment 2022.
- Shakers and mixers USD 0.8 billion in mixing equipment 2022.
- Fume hoods 13.6% of safety equipment market share 2022.
- Biosafety cabinets USD 1.1 billion 2022 in containment systems.
Product Segments Interpretation
While analytical instruments are the undisputed heavyweight champion of the lab, holding over 42% of the market, the true story is in the specialized brawls beneath the surface, where centrifuges spin off a sizable slice of that pie, spectrometers shine with a $7.2 billion glow, and even the humble water bath claims its own steamy 9.2% niche.
Regional Analysis
- North America laboratory equipment market share was 38.5% of global in 2022.
- U.S. accounted for 65% of North American lab equipment market revenue in 2022.
- Europe held 30.2% global share in laboratory equipment sales 2022.
- Germany represented 28% of European lab equipment market in 2022.
- Asia Pacific lab equipment market grew 8.1% YoY in 2022.
- China held 45% of Asia Pacific laboratory equipment market share 2022.
- Japan laboratory equipment imports valued USD 2.3 billion in 2022.
- Latin America lab equipment market CAGR 6.5% 2023-2030 forecast.
- Brazil 40% share of South American lab equipment market 2022.
- Middle East & Africa lab equipment market USD 1.8 billion 2022, CAGR 7.2%.
- U.K. lab equipment market USD 2.1 billion 2022, 5.3% CAGR.
- India imported 55% of its lab equipment needs in 2022 valued USD 1.2 billion.
- South Korea lab equipment R&D spend 12% of revenue in 2022 regionally.
- Australia laboratory equipment market USD 0.9 billion 2022, growth 4.8%.
- Canada held 20% North American lab equipment market excluding U.S. 2022.
- France lab equipment exports USD 1.5 billion in 2022.
- Mexico lab equipment market CAGR 7.8% 2023-2030 due to pharma growth.
- Singapore 15% share in Southeast Asia lab equipment hub 2022.
- Saudi Arabia lab equipment investments USD 500 million in 2022.
- Russia lab equipment market declined 2.1% in 2022 due to sanctions.
Regional Analysis Interpretation
While North America and Europe maintain their traditional dominance in the laboratory equipment market, the real momentum is shifting to Asia Pacific's rapid growth, revealing a global scientific landscape where established hubs fund innovation but emerging giants are increasingly building and buying their own capacity.
Trends and Innovations
- Increasing R&D investments in pharma drove 25% of lab equipment demand growth 2022.
- Adoption of automation in labs increased 18.4% YoY in 2022.
- Rise of point-of-care testing boosted portable lab equipment by 22% 2022.
- AI integration in analytical instruments grew 30% in adoption 2022.
- Sustainability focus led to 15% rise in eco-friendly lab equipment sales 2022.
- Next-gen sequencing demand surged 28.5% in biotech labs 2022.
- Cloud-based lab management software usage up 35% 2022.
- 3D printing for custom lab tools increased 42% in 2022.
- Modular lab designs adopted in 20% new facilities 2022.
- Cryogenic storage demand rose 19.2% due to vaccine research 2022.
- Remote monitoring tech in lab equipment up 25.7% installations 2022.
- Single-use labware usage grew 31% amid contamination concerns 2022.
- High-throughput screening systems demand +27% in drug discovery 2022.
- Lab-on-a-chip tech market expanded 40% CAGR recent years to 2022.
- Digital twins for lab optimization piloted in 12% top firms 2022.
- IoT-enabled lab sensors deployed 33% more in 2022.
- Robotics in sample prep rose 24.8% adoption 2022.
- Energy-efficient equipment sales up 17.5% due to regulations 2022.
- Mass spectrometry innovations drove 21% segment growth 2022.
- Blockchain for lab data integrity tested in 8% pharma labs 2022.
Trends and Innovations Interpretation
The relentless march of science is being powered by a lab equipment revolution, where pharmaceuticals' deep pockets, automation's steady hands, and AI's sharp mind are building a smarter, faster, and more portable future for research, all while trying not to trash the planet in the process.
Sources & References
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- Reference 6RESEARCHANDMARKETSresearchandmarkets.comVisit source