Thursday, Feb 8, 2024 at 3:42 PM
February 8, 2024•766 words
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The Laboratory Equipment Market: Unveiling Growth and Leading Manufacturers
The scientific and research community relies on the laboratory equipment market to supply the tools and equipment required for conducting experiments, analysis, and other laboratory procedures. In this blog article, we will examine the size of the global market for laboratory equipment, the causes that are fueling its expansion, the key geographical markets, and the largest lab equipment manufacturer globally. We will also have a look at the largest laboratory in the US as well as a well-known science facility there.
How Big is the Laboratory Equipment Market?
- The global laboratory equipment market was estimated to be worth roughly USD 51.44 billion in 2022 as per our most recent report update in November 2023. It's crucial to keep in mind that the market is constantly changing, and since then, its worth may have changed as a result of technological developments, R&D initiatives, and other things.
Factors Driving the Laboratory Supplies Market
- Rapid Technological Advancements: The desire for more modern instruments that improve accuracy and efficiency is being driven by ongoing advancements in laboratory equipment, such as automation, digitisation, and miniaturisation.
- Increased Research and Development Activities: In order to facilitate study and testing, advanced laboratory equipment is needed in a number of scientific sectors, including pharmaceuticals, biotechnology, and environmental sciences.
- Growing Healthcare Sector: Advanced diagnostic and testing tools are required by the growing healthcare sector, which generates a substantial demand for laboratory supplies.
- Rising Awareness of Health and Safety: The introduction of sophisticated equipment to guarantee a safe working environment is prompted by the growing awareness of health and safety regulations in laboratories.
- Government Investments: Government programmes and financing for scientific research encourage laboratories to purchase cutting-edge equipment, which boosts the market's expansion.
Leading Region in the Global Laboratory Equipment Market
- In 2021, North America will account for USD 20.54 billion in the global laboratory equipment market, according to our most recent analysis. The region has a significant presence, which may be attributed to its excellent research infrastructure, significant investments in R&D, and presence of top academic and research institutions.
The Biggest Lab Equipment Manufacturer in the World
- As of our report published in November 2023, Thermo Fisher Scientific will be the largest maker of laboratory equipment worldwide. Their corporate headquarters are in Waltham, Massachusetts, and they hold a market share of more than 30%. Thermo Fisher Scientific is renowned for its comprehensive range of laboratory instruments, consumables, and services catering to various scientific disciplines.
Some of the other key Companies in the Laboratory Equipment market include
- Agilent Technologies Inc. (US)
- BD (US)
- Beckman Coulter Inc. (US)
- Bio-Rad Laboratories Inc. (US)
- Bruker (US)
- Eppendorf AG (Germany)
- Hoffmann LA-Roche AG (Switzerland)
- PerkinElmer Inc. (US)
- Shimadzu Corporation (Japan)
The Biggest Laboratory in the US
- One of the biggest and most well-known laboratories in the country is the Lawrence Livermore National Laboratory (LLNL). The Lawrence Livermore National Security, LLC, which runs the lab, is renowned for its contributions to cutting-edge research, advanced technology development, and national security.
A Famous Science Laboratory in the USA
- The NASA Johnson Space Centre (JSC) is one of the most well-known and prestigious science research facilities in the United States. JSC, which is based in Houston, Texas, serves as NASA's focal point for programmes involving human spaceflight, astronaut training, and mission management. It has been crucial to space exploration and research, notably the Space Shuttle programme and the Apollo lunar missions.
At Its End of This Blogpost
The Laboratory Equipment Market plays a critical role in supporting scientific research, healthcare advancements, and various other industries. The laboratory equipment industry is driven by factors such as technological advancements, increased research activities, and the growing healthcare sector.
North America stands as a prominent leader in the global market, benefiting from its strong research infrastructure and government support. Thermo Fisher Scientific Inc. stands tall as the largest lab equipment manufacturer worldwide, providing a diverse array of instruments and services.
On the national level, the Lawrence Livermore National Laboratory is the largest in the US, contributing significantly to national security and technological innovation. Additionally, the NASA Johnson Space Center holds fame as a prestigious science laboratory, shaping the future of space exploration.
As the laboratory equipment market continues to evolve, companies, researchers, and institutions must stay up-to-date with the latest advancements to foster scientific progress and innovation in various fields.