|
Forecast Period
|
2024-2028
|
|
Market Size (2022)
|
USD38.02 billion
|
|
CAGR (2023-2028)
|
6.80%
|
|
Fastest Growing Segment
|
Equipment Segment
|
|
Largest Market
|
North America
|
Market Overview
Global
Laboratory Supplies Market was valued at USD 38.02 billion in 2022 and is
anticipated to witness an impressive growth in the forecast period with a CAGR
of 6.80% through 2028. Laboratory supplies are a broad category of materials,
equipment, reagents, and consumables used in scientific and research
laboratories for various purposes. These supplies are essential for conducting
experiments, investigations, analysis, and quality control across diverse
scientific fields and industries. Equipment includes various laboratory
apparatus and instruments used for specific scientific tasks. Examples of
laboratory equipment include microscopes, centrifuges, spectrophotometers,
analytical balances, pipettes, incubators, and autoclaves. Consumables are single-use
or disposable items used in laboratories for specific tasks. They include items
like pipette tips, petri dishes, culture plates, sample vials, syringe filters,
and cuvettes. Consumables are often used to avoid contamination and ensure the
accuracy of experiments. Industries such as materials science, metallurgy, and
chemical manufacturing require laboratory supplies for materials testing,
quality assurance, and composition analysis.
The
pharmaceutical and biotechnology sectors are continuously evolving, with
increasing investments in drug discovery, development, and manufacturing. This
sector's growth fuels the demand for laboratory supplies, particularly for
quality control and clinical research. The increasing demand for diagnostic
tests, including clinical, molecular, and genetic diagnostics, stimulates the
laboratory supplies market. Diagnostic laboratories require various supplies to
conduct tests for disease diagnosis and monitoring. Growing concerns about
environmental pollution, climate change, and water and air quality drive the
demand for laboratory supplies used in environmental monitoring and testing,
including sensors, spectrometers, and reagents. Advances in genomics,
proteomics, and personalized medicine are pushing the need for specialized
laboratory supplies, such as DNA sequencers, PCR instruments, and cell culture
media. The adoption of digital technologies and automation in laboratories is
driving the need for modern laboratory supplies, including robotic systems,
automated liquid handling, and data management tools. A growing emphasis on
sustainability is driving the development and adoption of eco-friendly
laboratory supplies and equipment.
Key Market Drivers
Pharmaceutical
and Biotechnology Advancement
Pharmaceutical
and biotechnology companies require state-of-the-art laboratory equipment for
drug discovery, development, and quality control. This demand drives the
development of advanced laboratory instruments, such as mass spectrometers,
high-performance liquid chromatography (HPLC) systems, and next-generation
sequencers. To meet the unique needs of pharmaceutical and biotechnology
research, specialized reagents and consumables are developed. These include
molecular biology reagents, cell culture media, and high-purity chemicals
critical for experimentation and production. Automation is increasingly
integrated into pharmaceutical and biotechnology laboratories to enhance
efficiency and reduce human error. Robotics, liquid handling systems, and
automated sample preparation equipment have become essential in high-throughput
screening and analysis. Bioprocessing equipment, such as bioreactors and cell
culture systems, is crucial for biotechnology companies involved in the
production of biopharmaceuticals. The advancement of these systems has a direct
impact on laboratory supplies in this sector.
Advances
in genomics and proteomics have led to the development of specialized
laboratory supplies, including DNA sequencers, mass spectrometers, and
proteomics reagents, which are essential for understanding the molecular basis
of diseases and developing targeted therapies. Strict regulatory requirements
in the pharmaceutical industry necessitate precise quality control measures.
Laboratory supplies, such as analytical balances, validation equipment, and
software solutions, are designed to meet these stringent quality and compliance
standards. The pharmaceutical industry relies on laboratory supplies for
clinical trials, including diagnostic tests and patient monitoring equipment.
These supplies are essential for ensuring the safety and efficacy of new drugs.
Pharmaceutical and biotechnology companies often require customized laboratory
supplies to address specific research and manufacturing needs. Manufacturers
work closely with these companies to develop tailored solutions.
The
vast amount of data generated in pharmaceutical and biotechnology research
requires sophisticated laboratory information management systems (LIMS) and
data analysis tools, which are part of laboratory supplies in these industries.
Single-use bioprocessing technologies, such as single-use bioreactors and
disposable filters, are increasingly used in biotechnology to reduce
contamination risks and enhance efficiency. Advances in pharmaceutical research
have fueled the growth of personalized medicine. Laboratory supplies for genetic
testing and patient-specific treatment are essential components of this field. Biotechnology
companies working on the development of biofuels and environmental solutions
require laboratory supplies for environmental monitoring and analysis. This
factor will help in the development of the Global Laboratory Supplies Market.
Increasing
Biomedical Research
Biomedical research is a major driver of the
demand for laboratory supplies. Laboratories conducting biomedical research,
whether in academic institutions, research organizations, or the biotechnology
and pharmaceutical industries, rely on a wide range of laboratory supplies to
support their investigations. Biomedical research often involves the
development and improvement of diagnostic tools and assays. Laboratory supplies
such as reagents, test kits, and diagnostic equipment are essential for these
purposes. The study of genes, genomics, and genetic variations is a significant
focus of biomedical research. This field demands specialized laboratory
supplies, including DNA sequencers, PCR instruments, and genetic analysis
reagents. Proteomics, the study of proteins and their functions, is another
critical aspect of biomedical research. Proteomics research relies on
laboratory supplies such as mass spectrometers, protein analyzers, and gel
electrophoresis equipment. Biomedical researchers often work with cell cultures
and tissue engineering for the study of diseases and the development of
regenerative therapies. This requires laboratory supplies such as cell culture
media, cell culture incubators, and tissue engineering scaffolds.
Biomedical
laboratories need laboratory supplies for molecular biology applications, such
as DNA and RNA extraction kits, polymerase chain reaction (PCR) reagents, and
cloning vectors. Microscopy is a fundamental tool in biomedical research.
Microscopes and imaging equipment, along with associated supplies, are used to
examine tissues, cells, and cellular structures. The storage and management of
biological samples are crucial for biomedical research. Biobanking equipment
and supplies, including cryopreservation systems and sample storage containers,
are required. Stem cell research, including the isolation and cultivation of
stem cells, requires laboratory supplies such as stem cell culture media, cell
sorting instruments, and cell characterization reagents. Immunological
research, including the development of vaccines and immunotherapies, relies on
laboratory supplies such as antibodies, immunoassays, and flow cytometry
instruments.
In
the pharmaceutical and biotechnology industries, laboratory supplies are needed
for clinical trials, including diagnostic tests, patient monitoring equipment,
and sample storage solutions. The pharmaceutical and biotechnology sectors
require laboratory supplies for drug formulation, quality control, and
pharmacological testing. This includes analytical instruments, chemical
reagents, and drug delivery systems. Biomedical research often involves the
handling of hazardous materials. Laboratory safety equipment, biosafety
cabinets, and personal protective equipment (PPE) are vital to ensure the
safety of researchers. The large volume of data generated in biomedical
research necessitates laboratory information management systems (LIMS) and data
analysis tools as part of laboratory supplies. This factor will pace up the
demand of the Global Laboratory Supplies Market.
Rising
Demand of Diagnostic Testing
Diagnostic
laboratories, healthcare institutions, and research facilities rely on a wide
range of laboratory supplies to perform various diagnostic tests, which are
essential for disease diagnosis, monitoring, and patient care. Clinical
laboratories perform a wide range of diagnostic tests, including blood tests,
urinalysis, and molecular diagnostics. These tests require laboratory supplies
such as reagents, diagnostic kits, and clinical chemistry analyzers. The field
of molecular diagnostics, including PCR testing and DNA sequencing, relies on
specialized laboratory supplies such as nucleic acid extraction kits,
thermocyclers, and genetic analysis reagents. Immunoassays, which are used for
detecting specific antibodies or antigens, are common in diagnostic testing.
Immunoassay kits, ELISA readers, and related laboratory supplies are essential
for this purpose. Laboratories conducting histopathology and cytology tests
rely on laboratory supplies for specimen processing, staining, and microscopy,
including microtomes, stains, and slide preparation materials. Diagnostic tests
for infectious diseases involve laboratory supplies such as culture media,
microbiological incubators, and viral diagnostic reagents.
Hematological
testing, which involves analyzing blood samples, relies on laboratory supplies
such as hematology analyzers, blood collection tubes, and blood bank equipment.
Point-of-Care Testing (POCT) devices, including glucose meters and rapid
diagnostic tests, are widely used in healthcare settings. Laboratory supplies
for POCT include test strips, lancets, and portable analyzers. Imaging tests,
such as X-rays, MRI, and CT scans, require specialized equipment and supplies,
including contrast agents and protective gear for radiologic technologists. Continuous
patient monitoring relies on laboratory supplies like sensors, electrodes, and
monitoring equipment for parameters such as ECG, blood pressure, and oxygen
saturation. Autoimmune diagnostics, used for the detection of autoimmune
disorders, require laboratory supplies like autoimmune assay kits and specific
reagents.
Clinical
and forensic toxicology laboratories utilize laboratory supplies for toxicology
testing, including mass spectrometers and toxicology reagents. Diagnostic
testing for allergies involves laboratory supplies like allergen extracts and
immunoassay kits for allergy panels. Drug testing laboratories require supplies
for screening and confirmation tests, including drug test kits and
chromatography equipment. To monitor drug levels in patients, laboratories need
laboratory supplies for therapeutic drug monitoring, including immunoassay kits
and liquid chromatography systems. Cardiac marker testing, which is vital for
diagnosing heart conditions, relies on laboratory supplies like troponin
assays, cardiac marker panels, and cardiac biomarker analyzers. This factor
will accelerate the demand of the Global Laboratory Supplies Market.
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Key Market Challenges
Supply
Chain Disruptions
Unforeseen
global events, such as the COVID-19 pandemic, can disrupt the supply chain by
causing factory closures, transportation delays, and workforce shortages. These
disruptions can lead to supply shortages and delays in product delivery. Disruptions
in global shipping and transportation networks, including container shortages,
port congestion, and changes in shipping routes, can affect the timely delivery
of laboratory supplies. This may lead to increased shipping costs and delays. Supply
chain disruptions in the sourcing of raw materials, such as plastics,
chemicals, and metals, can impact the production of laboratory supplies.
Shortages of critical materials can lead to increased costs and delayed
production. Factory closures or reduced production capacities, whether due to
natural disasters, labor disputes, or other factors, can result in delays in
the manufacturing of laboratory supplies. Challenges in warehousing and
distribution, including the need for social distancing and safety measures in
distribution centers, can impact the efficiency of getting products to
end-users. Supply chain disruptions can lead to quality control issues, as companies
may rush production or source materials from less reliable suppliers to meet
demand, potentially leading to compromised product quality. Supply chain
disruptions can result in price volatility for laboratory supplies. Increased
demand and reduced supply can lead to price increases, which can impact
laboratories' budgets.
Price
Pressures
The
laboratory supplies market is highly competitive, with numerous suppliers and
manufacturers offering a wide range of products. This competition can lead to
price pressures as companies strive to offer competitive pricing to gain or
maintain market share. Developing and manufacturing advanced laboratory
supplies, especially specialized equipment, and innovative reagents, can be
costly. These R&D expenses can put pressure on suppliers to recoup their
investments, potentially leading to higher prices. Fluctuations in the costs of
raw materials, such as plastics, metals, and chemicals, can directly impact the
production costs of laboratory supplies. Suppliers may need to adjust their
prices in response to these cost fluctuations. Economic downturns or recessions
can lead to reduced laboratory budgets in various sectors, including research,
healthcare, and academia. In such times, laboratories may seek cost-effective
alternatives or delay purchasing, creating price pressures. In the healthcare
sector, changes in reimbursement policies and budget constraints can lead to
pressure to reduce costs, affecting the pricing and purchasing decisions for
laboratory supplies. Bulk buyers, such as large hospital networks and research
institutions, often negotiate prices with suppliers. These negotiations can
lead to lower per-unit prices but may also pressure suppliers to offer
competitive terms.
Key Market Trends
E-commerce
and Digitalization
The
rise of e-commerce has led to the emergence of online marketplaces specializing
in laboratory supplies. These platforms allow laboratories to browse, compare,
and purchase a wide range of supplies, including equipment, reagents, and
consumables, with the convenience of online shopping. Many laboratory supply
companies have moved from traditional paper catalogs to digital catalogs, which
can be easily accessed online. Digital catalogs provide up-to-date product
information, pricing, and specifications, making it easier for customers to
find what they need. Digital platforms provide transparency in pricing,
allowing customers to compare prices and product offerings from different
suppliers. This transparency can lead to more competitive pricing and informed
purchasing decisions. Digitalization streamlines the procurement process.
Laboratories can create digital purchase orders, track orders, and manage their
inventory electronically, reducing paperwork and administrative burdens. E-commerce
has expanded the reach of laboratory supplies. Laboratories can access products
from suppliers worldwide, expanding their options and potentially finding
unique or specialized items. E-commerce facilitates various digital payment
methods, including credit cards, electronic funds transfer (EFT), and digital
wallets, streamlining the payment process.
Segmental Insights
Product Insights
In 2022, the Global
Laboratory Supplies Market largest share was held by equipment segment and is
predicted to continue expanding over the coming years. Laboratory
equipment is at the forefront of technological innovation. Advanced equipment,
such as high-performance liquid chromatography (HPLC) systems, mass
spectrometers, and automated laboratory instruments, is essential for modern
research and testing. These advancements often lead to increased demand for new
equipment and replacements of outdated ones. Laboratories across various
industries, including pharmaceuticals, biotechnology, environmental science,
and healthcare, rely heavily on laboratory equipment for research and
development activities. These sectors invest significantly in cutting-edge
equipment to enhance their capabilities and remain competitive. Laboratory
equipment is crucial for quality control and assurance processes, especially in
sectors like pharmaceuticals, where product safety and efficacy are paramount.
Accurate and reliable equipment is essential to meet regulatory requirements
and maintain product quality. In clinical laboratories, equipment like
diagnostic analysers, blood analysers, and imaging equipment is essential for
diagnosing and monitoring various medical conditions. The growing demand for
healthcare services and diagnostic tests contributes to the prominence of the
equipment segment. Laboratories involved in environmental testing rely on
specialized equipment for analysing air and water quality, soil composition,
and the presence of pollutants. Environmental regulations drive the need for
up-to-date equipment.
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Regional Insights
The
North America region dominates the Global Laboratory Supplies Market in 2022. North America, particularly the United
States, boasts a highly developed and advanced research infrastructure. The
region is home to numerous world-renowned research institutions, universities,
and pharmaceutical and biotechnology companies that conduct extensive research
and development activities. These organizations require a wide range of
laboratory supplies, including instruments, reagents, and consumables. North
America has a robust pharmaceutical and biotechnology industry. The United
States is a global leader in drug discovery, development, and manufacturing.
This industry demands a substantial volume of laboratory supplies for drug
research, clinical trials, and quality control, contributing significantly to
the market's growth. The region is home to a vast number of academic and
government research institutions that engage in diverse scientific research
activities. These entities rely on laboratory supplies for various research
projects, further increasing the demand for such products. North America has a
large and advanced healthcare sector. Medical diagnostics, which often require
laboratory testing, are a critical component of healthcare. The region's
emphasis on medical research, diagnosis, and treatment drives the demand for
laboratory supplies. The region has high standards for product quality and
laboratory practices, which drive the demand for top-quality laboratory
supplies. Compliance with regulations from agencies like the FDA is crucial in
industries such as pharmaceuticals and biotechnology.
Recent Developments
- In January 2023,
Siemens Healthineers has unveiled the establishment of a Centre of Excellence
dedicated to Immunoassay Instrument Research and Development (R&D) in
Swords, Ireland. This new centre is geared towards pioneering ground-breaking
advancements in laboratory instruments used for the detection of infectious
diseases, cancer, and blood disorders. Siemens Healthineers will make a
substantial multi-million-euro investment in the existing manufacturing and
engineering site, which serves as a global supplier of medical diagnostic
equipment. The Irish Government, through IDA Ireland, is supporting this
initiative. This investment will not only create new employment opportunities
but also empower healthcare professionals to enhance patient care through increased
precision, efficiency, and reliability in diagnostic laboratories. The Center will
be at the forefront of scientific and engineering innovation. These
improvements to current diagnostic methodologies aim to augment disease
detection capabilities, with the objective of delivering quicker, more precise
results that offer deeper insights into patient conditions. This advancement
will address the substantial demands of high-throughput and intricate
requirements in hospitals and laboratories, both in Ireland and worldwide.
- In July 2020, Thermo
Fisher Scientific has unveiled an innovative product, compliance, and service
package, designed to align with current Good Manufacturing Practice (cGMP)
standards, with the primary goal of expediting the setup process for clinical
and commercial cell and gene therapy manufacturing. Introducing the Thermo
Scientific Cell Therapy Systems (CTS) Series Laboratory Equipment, this
comprehensive solution streamlines and enhances the equipment installation and
validation process required for cGMP. The CTS Series encompasses a wide range
of essential laboratory equipment commonly used in cell and gene therapy
manufacturing, including biological safety cabinets, centrifuges, and CO2
incubators. Each product is accompanied by a thorough factory acceptance test
documentation package, containing essential items such as operating
certificates, performance specifications, user guides, and technical manuals.
Additionally, this portfolio is backed by top-notch field compliance services,
which encompass installation setup, IQ, OQ, and supplementary support such as
temperature mapping and calibration.
- In June 2020, Waters
Corporation has recently launched the Waters Arc HPLC System, a
high-performance liquid chromatograph designed for routine testing across
various industries, including pharmaceuticals, food, academia, and materials.
This system particularly targets quality control labs engaged in batch release
testing for small molecule pharmaceuticals. Additionally, Waters has unveiled
the Waters Empower BC LAC/E with SecureSync, an improved data backup and
recovery solution tailored for organizations with distributed lab setups. The
Arc HPLC System caters to laboratories seeking a robust and modern HPLC
solution that can run established HPLC methods, regardless of the original
liquid chromatograph brand on which they were developed, while maintaining the
precision of chromatographic retention times. Notable features include minimal
analyte carryover, exceptional injection accuracy, and a high backpressure
tolerance of up to 9,500 psi at 5.0 ml/min. It offers all the capabilities of a
top-tier HPLC system in a competitively priced package, elevating routine
testing to a higher level of performance.
Key Market Players
- Agilent
Technologies, Inc.
- Bio-Rad Laboratories,
Inc.
- Bruker Corp.
- Danaher Corp.
- FUJIFILM
Holdings Corporation
- PerkinElmer Inc.
- Sartorius AG
- Shimadzu
Corporation
- Thermo Fisher
Scientific Inc.
- Waters
Corporation
|
By Product
|
By Region
|
|
|
- North America
- Asia-Pacific
- Europe
- South America
- Middle East & Africa
|
Report
Scope:
In
this report, the Global Laboratory Supplies Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
- Laboratory
Supplies Market,
By Product:
o Equipment
o Disposables
- Laboratory Supplies Market, By
region:
o
North
America
§
United
States
§
Canada
§
Mexico
o
Asia-Pacific
§ China
§ India
§ South Korea
§ Australia
§ Japan
o
Europe
§
Germany
§
France
§
United
Kingdom
§
Spain
§
Italy
o
South
America
§
Brazil
§
Argentina
§
Colombia
o
Middle
East & Africa
§
South
Africa
§
Saudi
Arabia
§
UAE
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies presents in the Global Laboratory Supplies
Market.
Available
Customizations:
Global
Laboratory Supplies Market report with the given market data, Tech Sci
Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Global
Laboratory Supplies Market is an upcoming report to be released soon. If you
wish an early delivery of this report or want to confirm the date of release,
please contact us at [email protected]