Laboratory Equipment and Disposables Market Set to Reach USD 55 Billion by 2030, Driven by Rising Demand in Healthcare and Research Sectors

Laboratory Equipment and Disposables Market Set to Reach USD 55 Billion by 2030, Driven by Rising Demand in Healthcare and Research Sectors

According to Next Move Strategy Consulting, the global Laboratory Equipment and Disposables Market is poised for significant growth, expected to reach USD 55 billion by 2030. The market is predicted to grow at a compound annual growth rate (CAGR) of 7% by 2030, driven by increasing demand in research, healthcare diagnostics, and laboratory settings.

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Laboratory equipment and disposables are essential tools in laboratories across a wide range of sectors, including clinical diagnostics, research labs, educational institutions, and pathology labs. These products are critical for carrying out experiments, analyses, and research, ensuring safety, reducing contamination risks, and promoting a clean working environment. Equipment such as laminar flow hoods, centrifuges, incubators, and autoclaves, along with disposables like pipettes, tubes, gloves, and masks, are widely used in the testing and study of various scientific materials.

Market Dynamics and Trends

The laboratory equipment and disposables market is significantly influenced by the rising global prevalence of chronic infectious diseases, such as HIV, tuberculosis, and hepatitis, which drive the demand for diagnostic equipment. According to the U.S. Department of Health & Human Services, the global HIV population reached 39 million in 2021, further underscoring the need for diagnostic tools and laboratory solutions.

Government initiatives aimed at boosting research and development (R&D) also contribute to the market's growth. In 2020, the Indian Institute of Science partnered with Wipro GE Healthcare to establish an advanced AI-based laboratory for innovative healthcare diagnostics, exemplifying the growing trend of collaborative research investments in laboratory technologies.

Additionally, major companies are investing heavily in R&D to develop next-generation lab equipment and disposables. Bio-Rad Laboratories, for example, introduced the 'EconoFit,' a low-pressure prepacked chromatography column designed to streamline resin screening for various molecular targets.

Despite the positive market outlook, high costs of advanced laboratory equipment and the shift toward home-based or point-of-care testing present challenges. However, the increasing adoption of laboratory automation is expected to create new opportunities for market players.

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Segmentation and Market Scope

The laboratory equipment and disposables market is segmented based on product type and application. On the product front, the market is divided into laboratory equipment (incubators, laminar flow hoods, centrifuges, etc.) and laboratory disposables (pipettes, gloves, tubes, etc.). The applications span food & pharmaceutical, petroleum & chemical sectors, while the end-users include hospitals, laboratories, and others.

Regionally, North America holds a dominant market share, driven by the presence of leading pharmaceutical and biotech companies like Johnson & Johnson and Pfizer. The region’s robust R&D infrastructure and significant investments in medical and diagnostic technologies propel market growth. In December 2021, Pfizer’s investment of USD 68.5 million to open a clinical research facility in Durham, NC, illustrates the ongoing commitment to advancing medical research and diagnostics.

In contrast, Asia-Pacific is expected to experience rapid growth, fueled by increased healthcare infrastructure and investments in advanced R&D labs. Notable developments in the region include Johnson & Johnson's opening of a global health discovery center in Singapore in 2022, which is focused on developing new medications for diseases like dengue and Zika viruses.

Competitive Landscape

Leading players in the laboratory equipment and disposables market include Agilent Technologies, PerkinElmer Inc., Bio-Rad Laboratories, Thermo Fisher Scientific, Shimadzu Corporation, Sartorius AG, Becton Dickinson and Company, Danaher Corporation, and others. These companies are constantly innovating and introducing new products to maintain their market dominance.

For example, in 2021, PerkinElmer launched the “HIVE scRNAseq Solution” for RNA sequencing, facilitating research in clinical and preclinical settings. Similarly, in 2021, Baker Company introduced the “ReCO2ver,” a rapid recovery cell culture incubator aimed at advancing microbiology and cell culture research.

Conclusion

The global laboratory equipment and disposables market is expected to experience strong growth, driven by advancements in medical research, diagnostics, and laboratory automation. As healthcare needs continue to rise, the demand for reliable, advanced lab equipment and disposable products will remain high, fostering innovation and competition in the sector. The North American region is set to maintain a leading position, while Asia-Pacific is expected to emerge as a rapidly expanding market for laboratory solutions.

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