Lab Supplies Market Trends 2025-2034: Growth, Strategic Insights, and Opportunities Ahead
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of theLab Supplies Market?
The expansion of testing laboratories globally is projected to spur the lab supplies market’s growth. Diagnostic tests or research are conducted at a testing laboratory, which heavily relies on lab supplies to perform reactions and handle chemicals. As the number of these laboratories escalates, so does the demand for lab supplies, thereby driving the market. For example, between September 2022 and April 2023, the Australia-based International Laboratory Accreditation Cooperation (ILAC) – an international organization that accredits bodies – reported that its Full Members had accredited between 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) throughout 154 organizations in 129 economies across the world. Thus, the global increase in the number of testing laboratories supports the burgeoning growth of the lab supplies market.
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What is the Predicted Annual Growth Rate of theLab Supplies Market Impact Industry Trends by 2034?
In recent times, there has been a robust growth in the market size of lab supplies. The market value is expected to rise from $37.65 billion in 2024 to $40.63 billion in 2025 with a compound annual growth rate (CAGR) of 7.9%. The historic growth is linked to developments in scientific research and discovery, biotechnology and pharmaceuticals, needs for healthcare diagnostics and testing, academic and educational institution’s requirements, and industrial quality control and assurance.
It is anticipated that the lab supplies market will experience robust expansion in the coming years, escalating to $57.2 billion by 2029 with a compound annual growth rate (CAGR) of 8.9%. The predicted growth during this period can be ascribed to developments in life sciences research, stronger focus on scrutinizing the environment, the broadening function of point-of-care testing, the world’s reaction to health crises, and advancements in genomic medicine. Noteworthy trends anticipated for this forecast period encompass focus on biodegradable materials, strict adherence to quality and safety standards, partnerships with research institutions, worldwide supply chain enhancement, and emphasis on disposable technologies.
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What Key Market Trends and Innovations Are Shaping the Future of theLab Supplies Industry?
A prevailing trend in the lab supplies market being observed is the introduction of novel products by the dominant companies, aiming to solidify their market standing. An illustration of this would be Q2 Solutions, a U.S.-based clinical trial laboratory services company that, in October 2022, unveiled the first-ever self-collection laboratory safety panel for U.S. clinical trial participants. This innovative product utilizes self-collection technology, enabling clinical trial participants to supply blood samples from the convenience of their homes. This clinical-grade distance sampling system facilitates decentralized laboratory testing while maintaining sample quality. The system includes easy-to-use self-collection kits for home use, supported by guiding instructions and video demonstrations, a method for direct patient delivery, and a simplified process for specimen handling and transportation needs.
Which Companies Are Leading the Charge in Expanding theLab Supplies Market Growth?
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.
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How is the Global Lab Supplies Market Segemented?
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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Which Geographics are Influencing the Growth of the Lab Supplies Market?
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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