Laboratory Equipment Market Size to Hit USD 60.25 Billion by 2032, Fueled by Technological Innovation and Research Demand – SNS Insider
SNS Insider projects a 7.7% CAGR in the Laboratory Equipment Market from 2024 to 2032, driven by increased investment in R&D, life sciences, and academic research.
Austin, May 06, 2025 (GLOBE NEWSWIRE) — Laboratory Equipment Market Size & Growth Analysis:
According to the latest report by SNS Insider, the Laboratory Equipment Market size was valued at USD 30.9 billion in 2023 and is expected to reach USD 60.25 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.7% during the forecast period of 2024-2032.
Major drivers of this market’s global growth are increased demand for advanced diagnostic equipment, increased R&D expenditure in the pharmaceutical and biotechnology industries, and the increasing trend of laboratory automation.
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US Laboratory Equipment Market Outlook
From USD 10.00 billion in 2023 and likely to grow to USD 19.46 billion by 2032, the U.S. laboratory equipment market alone has shown a robust growing trend. Ongoing investments in life sciences research, academia, and clinical laboratories primarily drive this growth.
Market Overview
Increased investment in clinical diagnostics, technological improvement in analytical equipment, and the growing prevalence of chronic conditions are some of the confluences of factors propelling a significant shift in the global laboratory equipment market. Automated and sophisticated equipment are increasingly being utilized by laboratories as precision medicine picks up pace and pharmaceutical R&D pipelines expand to streamline processes and enhance result accuracy. The major players in this sector are university research centers, drug companies, biotech firms, and diagnostic facilities, thus creating steady demand for a range of product segments.
Furthermore, expected to provide long-term demand are the rapid growth in the biotechnology industry and the concentration on quality assurance during pharmaceutical production. Where automatic analyzers and high-throughput devices become increasing favorites in the clinical and molecular diagnostics marketplaces, machinery such as centrifuges, microscopes, and incubators finds incessant utility. Since escalating healthcare infrastructures and medicine research expenditures result, developing countries within Asia and Latin America will also be projected to offer plentiful expansion opportunities.
Key Laboratory Equipment Companies Profiled in the Report
- Thermo Fisher Scientific (NanoDrop One, Orbitrap Exploris 480)
- Agilent Technologies (Agilent 7890B Gas Chromatograph, Agilent 1260 Infinity II LC)
- Shimadzu Corporation (LCMS-8060NX, UV-1900i)
- Bruker Corporation (AVANCE NEO, MALDI Biotyper)
- PerkinElmer Inc. (LAMBDA 365+, Avio 550 Max ICP-OES)
- Beckman Coulter (Biomek i7, DxH 900)
- Mettler Toledo (XPR Analytical Balance, TGA/DSC 3+)
- Eppendorf AG (Centrifuge 5425, Mastercycler X50)
- Sartorius AG (Cubis II Balance, Ambr 15 Bioreactor)
- Waters Corporation (ACQUITY UPLC H-Class PLUS, Xevo TQ-XS)
- Bio-Rad Laboratories (CFX96 Touch Real-Time PCR, ChemiDoc MP Imaging System)
- GE Healthcare Life Sciences (ÄKTA Pure Chromatography System, Amersham Typhoon Imager)
- Tecan Group Ltd. (Freedom EVO, Infinite 200 PRO)
- Anton Paar GmbH (DMA 5000 M, MCR 302 Rheometer)
- Hitachi High-Tech Corporation (SU5000 SEM, U-2900 Spectrophotometer)
- Labconco Corporation (Purifier Logic+ Biosafety Cabinet, FreeZone 6 Liter Freeze Dryer)
- Oxford Instruments plc (X-Pulse Benchtop NMR, X-MET8000 Handheld XRF)
- HORIBA Scientific (LabRAM HR Evolution, Aqualog Spectrometer)
- Jeol Ltd. (JSM-IT800 SEM, JNM-ECZL NMR)
- Analytik Jena AG (Specord 210 Plus, qTOWER³ PCR Thermal Cycler)
Laboratory Equipment Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 30.9 billion |
| Market Size by 2032 | US$ 60.25 billion |
| CAGR | CAGR of 7.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Product:
General lab equipment’s 32% market presence in 2023 is from its unavoidable utility in everyday research and diagnostic practices. Very much still an essential tool across many various domains in both life sciences and chemical research are apparatus like centrifuges, spectrophotometers, shakers, and mixers. A growing number of academic research facilities and diagnostic centers globally continues to fuel demand for this versatile equipment.
On the contrary, molecular spectroscopy instruments are the fastest-growing product category. Spectroscopic techniques are rapidly gaining acceptance since they are precise, obtain information in real time, have minimal sample preparation requirements, and are utilized in environmental monitoring, proteomics studies, and drug quality control.
By End-Use:
The healthcare sector emerged as the leading end-user, holding a dominant revenue share of 42% in 2023. This dominance stems from the widespread integration of laboratory equipment in clinical diagnostics, pathology labs, and hospital-based laboratories. A growing aging population and rising demand for early disease detection further support this trend.
Meanwhile, the biotechnology and pharmaceutical companies segment is expected to witness the fastest growth over the forecast period. The need for high-throughput screening, drug formulation, and stability testing is pushing these industries to invest heavily in modern laboratory infrastructure, including robotic sample handlers and automated liquid handling systems.
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Laboratory Equipment Market Segmentation
By Product
- General
- Support
- Analytical
- Clinical
- Specialty
By End-use
- Research Institutions
- Veterinary
- Healthcare
- Others
Regional Analysis
In 2023, North America dominated the global laboratory equipment market, securing a substantial share of 39%. The region benefits from a well-established healthcare infrastructure, high R&D investments, and a strong presence of leading market players. The U.S., in particular, is witnessing heightened demand due to increased research in genomics and cancer diagnostics.
Asia Pacific is projected to experience the highest growth during the forecast period. Countries like China, India, and South Korea are investing significantly in life sciences research, expanding their pharmaceutical manufacturing base, and improving healthcare services. Government support for medical innovation and the rise of private diagnostic labs will continue to drive market momentum in this region.
Recent Developments in the Laboratory Equipment Market
- January 2023 – Siemens Healthineers inaugurated a laboratory equipment immunoassay R&D center in Swords, Ireland, focusing on innovations for cancer, blood disorders, and infectious disease detection.
- March 2023 – Thermo Fisher Scientific launched the “Genexus Dx Integrated Sequencer,” designed to automate complex lab workflows and improve diagnostic yield.
- June 2023 – Eppendorf introduced the “Centrifuge 5910 Ri,” a high-capacity benchtop centrifuge tailored for cell culture and bioproduction labs.
Statistical Insights and Trends Reporting
- Over 65% of laboratories globally reported increased utilization of automated analyzers and general lab equipment due to higher test volumes and faster turnaround requirements.
- North America led laboratory equipment procurement with a 39% share, followed by Europe at 27%, and Asia Pacific at 22%, reflecting strategic investments in diagnostics and research.
- The global installed base is expected to increase by over 90% by 2032, with Asia Pacific contributing nearly 40% of new installations due to rapid lab expansions.
- University and academic institutions accounted for 33% of global lab equipment purchases, while private pharmaceutical companies accounted for 29%, reflecting balanced demand.
- Approximately 58% of mid-to-large clinical laboratories adopted automation solutions in some capacity, showing a shift towards efficiency-driven workflows.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Testing and Diagnostic Volume Trends (2020–2023; Forecast to 2032)
5.2 Laboratory Equipment Install Base & Utilization Rate, by Region (2023)
5.3 Healthcare Spending on Laboratory Equipment (2023)
5.4 Regulatory and Quality Compliance Rates (2023)
6. Competitive Landscape
7. Laboratory Equipment Market by Product
8. Laboratory Equipment Market by End-use
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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