Laboratory Analytical Instruments and Consumables Market Growth by Application, Product, and Geography - Forecast and Analysis 2023-2027

The laboratory analytical instruments and consumables market size is estimated to grow at a CAGR of 8.41% between 2022 and 2027. The laboratory analytical instruments and consumables market size is forecast to increase by USD 15.99 billion. The growth of the market depends on several factors, including the emergence of precision proteomics to develop personalized medicine and therapies, the high prevalence of infectious diseases, and increasing investments in drug discovery.

This laboratory analytical instruments and consumables market report extensively covers market segmentation by application (element analysis, separation analysis, and molecular analysis), product (laboratory analytical instruments and consumables), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Laboratory Analytical Instruments and Consumables Market During the Forecast Period?

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Laboratory Analytical Instruments and Consumables Market: Key Drivers, Trends, Challenges, and Customer Landscape

The high prevalence of infectious diseases is notably driving the market growth, although a lack of trained laboratory professionals may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Laboratory Analytical Instruments and Consumables Market Driver

The high prevalence of infectious diseases is notably driving the laboratory analytical instruments and consumables market growth. The increasing prevalence of infectious diseases is expected to spur market growth as it increases the need for disease awareness initiatives. Awareness campaigns to recognize the signs and symptoms of infectious diseases and how to prevent them play an important role in preventing the spread of infectious diseases. Infectious diseases are caused by organisms such as bacteria, viruses, fungi, and parasites. Global epidemics of infectious diseases are increasing due to changes in lifestyles, leading to weakened immune systems. The emergence of drug-resistant pathogens is also changing the pattern of outbreaks of infectious diseases. Tuberculosis caused by Mycobacterium tuberculosis is prevalent throughout the world.  Pathogens such as viruses, bacteria, and parasites are involved in the development of infectious diseases such as tuberculosis, malaria, and hepatitis.

Moreover, the impact of these infectious diseases varies by region around the world, with sub-Saharan Africa, Asia-Pacific, Latin America and the Middle East being the most affected due to malnutrition, poor sanitation, poor water quality, and poor sanitation. Hence, the prevalence of infectious diseases and increased testing volumes will increase the demand for laboratory analyzers and consumables, driving the growth of the market focus during the forecast period.  

Significant Laboratory Analytical Instruments and Consumables Market Trends

The rising number of applications for analytical instruments is a key trend influencing the laboratory analytical instruments and consumables market growth. With the introduction of several new technologies, products, and markets, the applications of analytical laboratory equipment and consumables are increasing more than ever. Laboratory analytical instruments are used in multiple applications including analytical chemistry, clinical analysis, environmental testing, F and B analysis, and forensic analysis. It is also used in life science research, material characterization and research, petrochemical testing, and pharmaceutical analysis, making it an integral part of the setup. Similarly, each technology that accommodates growing applications opens up possibilities for analytical lab equipment and consumables.

Therefore, the ever-increasing number of applications that use laboratory analytical instruments and consumables for specific purposes will lead to an increase in the acceptance of these solutions, which will have a positive impact on consumption and sales, leading to a rise in the market during the forecast. 

Major  Laboratory Analytical Instruments and Consumables Market Challenge

The lack of trained laboratory professionals is challenging the laboratory analytical instruments and consumables market growth. Processes associated with pharmaceutical manufacturing require great care in sample and reagent application and device handling. Additionally, the interpretation of results is becoming increasingly important, requiring researchers to be clear about the analysis they are performing and how it relates to the overall goals of the experiment. For example, before starting the protein crystallization process,  researchers must consider the molecular weight of the protein, the buffers required for the experiment, and the stability of the protein, maximizing the primary sequence. Therefore, researchers should pay attention to several factors for successful research experiments. It is very important for the operator to be meticulous during the procedure. Identifying the right video capture and analysis settings, which require proper knowledge and training, requires an experienced operator to perform several optimization steps. Similarly, other functions of laboratory analyzers require a thorough knowledge of how to operate the instrument effectively. Some advanced laboratory analytical instruments are inherently complex and require a thorough understanding of the mechanics of the instrument to use effectively. 

Like any other field, the field of clinical laboratory science is suffering from a severe shortage of manpower. Future programs to prepare laboratory staff are estimated to account for only about one-third of the training required. The number of individuals completing an accredited training program each year is significantly lower. Staffing shortages raise concerns about workload and turnover of laboratory staff. In addition, lab workers are underpaid and forced to choose additional shifts or part-time work. The turnover of human resources has become a serious problem. Due to the difficulty in finding trained specialists, laboratories incur significant costs to procure trained personnel. These are some of the reasons that contribute to the decline in laboratory professionals, which is expected to continue during the forecast period. will offset market growth during the forecast period.  

Key Laboratory Analytical Instruments and Consumables Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Laboratory Analytical Instruments and Consumables Market Customer Landscape

Who are the Major Laboratory Analytical Instruments and Consumables Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ABB Ltd: The company provides different types of laboratory analytical instruments. It also offers building management solutions.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• Agilent Technologies Inc.
• AMETEK Inc.
• AMS Technologies AG
• Bio Rad Laboratories Inc.
• Bruker Corp.
• Chemglass Inc.
• Cole Parmer Instrument Co. LLC
• Danaher Corp.
• Endress Hauser Group Services AG
• Eurofins Scientific SE
• Foss
• Harvard Bioscience Inc.
• Helena Laboratories Corp.
• Hitachi Ltd.
• Perkin Elmer Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segments in the Laboratory Analytical Instruments and Consumables Market?

The market share growth by the element analysis segment will be significant during the forecast period. Elemental analysis can be both quantitative and qualitative in nature. Identification of trace minerals is important for products to meet regulatory standards and be certified as high-quality products. These instruments and consumables are primarily used in the chemical, environmental, metals, and pharmaceutical industries. For example, in the environmental field, elemental analyzers with associated required consumables are applied to determine the elemental composition of minerals that are important for understanding the Earth's geological processes. It is also often used in industry to determine the quality of minerals and metals.

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The element analysis segment was valued at USD 14.11 billion in 2017 and continued to grow until 2021. The handheld analyzers have become the analyzer of choice for trace elemental analysis of soil samples. This analysis is essential for farmers to ensure better yields and for environmentalists to ensure a safe atmosphere for people. These analyzers assist end users in characterizing, remediating, and monitoring contaminated soil sites. At just 30-60 seconds per sample, one can get fast and accurate data in hours instead of weeks, reducing costs. These analyzers support faster analysis than traditional methods and provide results with superior accuracy. As the use of analyzers for elemental analysis increases, so does the demand for elemental analysis, supporting its growth. The use of elemental analysis is increasing worldwide as it is used in numerous scientific investigations and studies. This is likely to drive the growth of this segment and the market during the forecast period. 

Which are the Key Regions for the Laboratory Analytical Instruments and Consumables Market?

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North America is estimated to contribute 35% to the growth of the global laboratory analytical instruments and consumables market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Demand for laboratory analytical instruments and consumables is high in North America. This is due to heavy US investment in healthcare research and testing. Strong distribution networks in countries such as the United States and Canada and the growing interest of pharmaceutical companies in drug research and development are driving the growth of the market. The presence of industry leaders in laboratory automation in countries such as the United States is also boosting market growth during the forecast period. The number of research projects in the US is increasing. This is due to the recognition of the high potential of regenerative medicine. Organizations such as the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) are also increasing funding. These organizations fund clinical trials and develop new drugs for various diseases to boost the growth of the market in the region. 

The market experienced strong growth in 2020 due to the COVID-19 outbreak. The outbreak created a deadly scenario across the world, emboldening pharmaceutical companies across the world to develop a vaccine for COVID-19. Similarly, the rising number of COVID-19 cases has put considerable pressure on health facilities globally. Due to the rapid increase in Covid-19 cases, the number of Covid test samples in laboratories also increased. The market grew as immunization promotion in 2021 and the resumption of various preclinical research and pharmaceutical operations increased the demand for laboratory analytical instruments and consumables in the world.

Segment Overview

The laboratory analytical instruments and consumables market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook (USD Billion, 2017 - 2027)
  • Element analysis
  • Separation analysis
  • Molecular analysis

• Product Outlook (USD Billion, 2017 - 2027)
  • Laboratory analytical instruments
  • Consumables

• Region Outlook (USD Billion, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Rest of World (ROW)

Parent Market Analysis

Technavio categorizes the global laboratory analytical instruments and consumables market as part of the global life science tools and services market. The parent, global life science tools and services market includes products and companies engaged in research and development across various product categories, including capital goods, instruments, accessories, and consumables used in the research and development of pharmaceuticals and biotechnology products. It also includes services related to life sciences such as contract research, contract manufacturing, and contract distribution. Technavio calculates the global healthcare market size based on the total revenue generated by manufacturers of equipment, consumables, pharmaceuticals, biotechnology, and life sciences tools and services. 

Laboratory Analytical Instruments and Consumables Market Scope
Report Coverage	Details
Page number	167
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.41%
Market growth 2023-2027	USD 15.99 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.69
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 35%
Key countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	ABB Ltd., Agilent Technologies Inc., AMETEK Inc., AMS Technologies AG, Bio Rad Laboratories Inc., Bruker Corp., Chemglass Inc., Cole Parmer Instrument Co. LLC, Danaher Corp., Endress Hauser Group Services AG, Eurofins Scientific SE, Foss, Harvard Bioscience Inc., Helena Laboratories Corp., Hitachi Ltd., Perkin Elmer Inc., Process Insights Inc., Shimadzu Corp., Thermo Fisher Scientific Inc., and Waters Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Laboratory Analytical Instruments and Consumables Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the laboratory analytical instruments and consumables market between 2023 and 2027
• Precise estimation of the size of the laboratory analytical instruments and consumables market size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of laboratory analytical instruments and consumables market vendors

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