Lab Supplies Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the lab supplies market grown over the years?
The market size for lab supplies has seen a consistent increase over the past few years. The growth is expected to continue, elevating from $37.65 billion in 2024 to $40.63 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. Numerous factors contribute to this historic period of growth, including advancements in scientific research and discovery, biotechnology and pharmaceuticals, rising needs in healthcare diagnostics and testing, the demands of educational institutions, and needs in industrial quality control and assurance.
What Is the forecasted market size and growth rate for the lab supplies market?
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What are the major factors driving growth in the lab supplies market?
The lab supplies market is predicted to expand due to an increase in the number of testing laboratories globally. Testing laboratories, sites where research and diagnostics are carried out, utilize lab supplies to execute reactions and store chemicals. The growth in the number of these labs boosts the usage of lab supplies, thus fuelling the lab supplies market. For example, the International Laboratory Accreditation Cooperation, an Australia-based global organization for accreditation bodies, reported in April 2023 that between September 2022 to April 2023, ILAC Full Members certified around 85,000 to 88,000 laboratories, 13,000 to 13,900 inspection bodies, 600 to 604 proficiency testing providers (PTP), and 250 to 260 reference material producers (RMP) across 154 organizations in 129 economies globally. Consequently, a surge in global testing labs is stimulating growth in the lab supplies market.
What key areas define the segmentation of the global lab supplies Market?
The lab supplies market covered in this report is segmented –
1) By Product: Equipment, Disposables
2) By Application: Biochemistry, Endocrinology, Microbiology, Genetic Testing, Other Applications
3) By End Users: Academic Institutes, Clinical And Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies, Other End Users
Subsegments:
1) By Equipment: Laboratory Instruments, Analytical Equipment, Safety Equipment, Storage Equipment
2) By Disposables: Glassware, Plasticware, Consumables, Biohazard Bags And Containers
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What are the top market players propelling the growth of the lab supplies industry?
Major companies operating in the lab supplies market include Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Becton Dickinson and Company, GE Healthcare, Corning Inc., Agilent Technologies Inc., Avantor, MilliporeSigma, PerkinElmer Inc., VWR International, Sartorius AG, Mettler Toledo, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Eppendorf AG, Pace Analytical Services LLC, LabWare Inc., Labworks LLC, Cole-Parmer, Spectrum Chemical Manufacturing Corp, LabVantage Solutions Inc., Autoscribe Informatics, Lab Pro Inc., BrandTech Scientific Inc.
What are the key trends shaping the future of the lab supplies market?
Leading firms in the lab supplies market include Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Becton Dickinson and Company, GE Healthcare, Corning Inc., Agilent Technologies Inc., Avantor, MilliporeSigma, PerkinElmer Inc., VWR International, Sartorius AG, Mettler Toledo, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Qiagen N.V., Eppendorf AG, Pace Analytical Services LLC, LabWare Inc., Labworks LLC, Cole-Parmer, Spectrum Chemical Manufacturing Corp, LabVantage Solutions Inc., Autoscribe Informatics, Lab Pro Inc., BrandTech Scientific Inc.
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What regions are dominating the lab supplies market growth?
North America was the largest region in the lab supplies market in 2024. The regions covered in the lab supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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