What Are The 5 Takeaways From The Laboratory Accessories Market Overview 2024
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The laboratory accessories market has experienced robust growth in recent years, with projections showing an increase from $567.02 billion in 2023 to $613.47 billion in 2024, representing a CAGR of 8.2%. This growth in the historical period can be attributed to the expansion of life sciences research and clinical laboratory testing, a rising prevalence of infectious diseases, increasing demand for laboratory testing, a heightened focus on global health issues, and a growing number of hospitals. Looking forward, the laboratory accessories market is expected to see further growth, reaching $845.91 billion by 2028 at a CAGR of 8.4%. Factors contributing to this growth during the forecast period include the development of laboratory infrastructure in emerging economies, increasing emphasis on eco-friendly and sustainable laboratory practices, a rising demand for compatible accessories, advancements in drug therapy research and development, and a growth in the number of diagnostic tests. Notable trends in this market include advancements in laboratory technology, automation and digital solutions, smart lab technologies, and the integration of artificial intelligence (AI) and machine learning (ML) into laboratory processes.
The rise in diagnostic tests is expected to propel the growth of the laboratory accessories market going forward. Diagnostic tests refer to medical procedures designed to identify the presence, nature, or cause of a disease or condition in patients. The rise in diagnostic tests is due to increasing healthcare access, the need for chronic disease management, heightened patient expectations, and genetic testing. Laboratory accessories are integral to every stage of the diagnostic testing process, from sample collection and preparation to analysis and documentation. They ensure the accuracy, efficiency, and safety of diagnostic tests, ultimately leading to reliable and actionable results for patient care. For instance, in November 2023, according to the Diagnostic Imaging Dataset Annual Statistical, a UK-based government organization, England reported 45.0 million imaging tests in March 2023, marking an increase from 44.0 million in the previous year, which represents a growth of 2.2%. Therefore, the rising number of diagnostic tests drives the laboratory accessories market.
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What Are The Key Trends That Influence Laboratory Accessories Market Share Analysis?
Major companies in the laboratory accessories market are concentrating on developing innovative products like automated plasmid purification systems to deliver high-throughput solutions, enhance reproducibility, and support cutting-edge applications in molecular biology, clinical diagnostics, and pharmaceutical development. An automated plasmid purification system is an advanced laboratory device that streamlines the process of isolating plasmid DNA (pDNA) from bacterial cultures without requiring manual intervention. For instance, in June 2024, Thermo Fisher Scientific, a U.S.-based life science and clinical research company, launched the Thermo Scientific KingFisher PlasmidPro Maxi Processor, a fully automated maxi-scale plasmid DNA (pDNA) purification system. This system is designed to streamline the purification process, improving the efficiency of laboratory workflows involved in the discovery and development of therapies. This innovation aims to minimize manual errors and increase throughput, specifically focusing on molecular biology and genetic research.
Which Market Players Are Driving Growth In The Laboratory Accessories Market?
Major companies operating in the laboratory accessories market are Thermo Fisher Scientific Inc., The Merck Group, Agilent Technologies Inc., Sartorius AG, PerkinElmer Inc., Mettler-Toledo International Inc., Endress+Hauser Group Services AG, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Horiba Ltd., Eppendorf AG, Metrohm AG, Hamilton Company, Analytik Jena AG, Labconco Corporation, Rigaku Corporation, Biotix Inc., SP Industries Inc, Corning Incorporated, Tecan Group Ltd.
How Is The Global Laboratory Accessories Market Segmented?
The laboratory accessories market covered in this report is segmented –
1) By Product Type: Instruments, Glassware, Lab Tables, Consumables, Other Product Types
2) By Laboratory Type: Clinical And Diagnostics Labs, Pharma, Biotech, And Medical Device Companies, Academic And Research Lab, Other Laboratory Types
3) By Application: Academic, Hospitals, Private Laboratories, Biotechnology, Other Applications
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The Laboratory Accessories Global Market Report 2024 provides an overview of the laboratory accessoriesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The laboratory accessories market forecast analyzes laboratory accessories market size, laboratory accessories market share, leading competitor and their market positions.
The Table Of Content For The Laboratory Accessories Market Include
1. Laboratory Accessories Market Executive Summary
2. Laboratory Accessories Market Segments
3. Laboratory Accessories Market Size And Template Market Growth Rate
4. Key Laboratory Accessories Market Trends
5. Major Laboratory Accessories Market Drivers
……
25. Key Mergers And Acquisitions In The Laboratory Accessories Market
26. Top Laboratory Accessories Companies
27. Laboratory Accessories Market Opportunities And Strategies
28. Laboratory Accessories Market, Conclusions And Recommendations
29. Appendix
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