The Global Lab Supplies Market was $37.8 Bn in 2020, and it is expected to reach $89.4 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 9.0% between 2020-2030. The global lab supplies market is majorly driven by the increasing funding and investment in the research and development activities laboratories. The massive demand for laboratory equipment and advanced supplies boosts the growth of the lab supplies market. The need for the lab equipment is increasing in the pharmaceutical and biological field. Moreover, in the current pandemic of COVID-19 might make a slight difference in the growth rate in the current year. Now, Moving forward, the robust demand for Global Lab Supplies Market in the educational department is further estimated to create new necessities and augment the market of growth over the forecast period of 2020-2030.
Lab supplies are one of the most lucrative industry for investment. Majorly of pathology labs, hospital, ambulatory surgical centers (ASC), research centers and clinics require these lab supply on regular basis due to their disposable in nature. In the time of corona, this market has seen a commendable growth as most of the end users are requiring lab supplies for testing purposes. In this industry there are lab supplies available in a broad price range. Based on the requirements, these application centers require lab supplies for multiple purposes.
Global Lab Supplies Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global Lab Supplies market is segmented as equipment and end-User. By the equipment, the global lab supplies market is divided into Introduction, General Equipment, Support Equipment, Specialty Equipment, Analytical Equipment, and Others. By the end-user, the global lab supplies market has bifurcated as the Academic Institutes, Clinical & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others.
By Region, North America is Holding the Major Market Share
The global Lab Supplies Market has been geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. According to the reports, the revenue share of North America in the past year was 37.0%. High investment in the research laboratories is driving the growth of the lab supplies market in this region. Apart from that, the Asia Pacific and the Rest of the regions are expected to increase the growth rate over the upcoming forecast period of 2020 to 2030.
Major Players in Global Lab Supplies Market
The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include PerkinElmer Inc., VWR International, LLC, Thermo Fisher Scientific, WATERS, Merck & Co., Inc., Danaher, Spectrum Chemical Manufacturing Corp., Pace Analytical Services, LLC, Eppendorf AG, Agilent Technologies, Inc., Hettich Instruments, John Barron_Reagecon, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Camlab Ltd, Bellco Glass, Eurofins Scientific, and Medline Scientific Limited among others.
The Global Lab Supplies Market Has Been Segmented into:
Global Lab Supplies Market: By Equipment
Global Lab Supplies Market: By End-User
Global Lab Supplies Market: By Region