A report published by Research on Global Markets titled “Global Laboratory Equipment Market (2018-2023)“ studies the performance of the global laboratory equipment market over a five year assessment period from 2018 to 2023. The report presents the value forecast of the global laboratory equipment market and provides key insights into the factors driving market growth as well as the factors restricting market growth. According to the Research On Global Markets analysts, the global laboratory equipment market is projected to expand at a compound annual growth rate (CAGR) of 8% during the 2018-2023 period, and will reach USD 84.4 Bn by 2023. Increasing life sciences research is responsible for a major part of the huge demand for laboratory equipment across the globe.
Global Laboratory Equipment Market – Segment Insights
The research report published by Research On Global Markets features a comprehensive analysis of the global laboratory equipment market segment based on technology. Based on technology, the ‘other’ technologies segment had the highest market share (45.8%) in 2018, owing to growing geriatric population, rapidly emerging diagnostics centers and hospitals, and technological advancements. Time-consuming operations and mechanical failure of equipment are major challenges faced by users. The segment is followed by the spectroscopy market, which held a share of 21.3% in 2018. This is due to the increased demand for spectrometers in the life sciences sector for the analysis of drugs and biomolecules, according to Research On Global Markets.
Global Laboratory Equipment Market – Market Insights
Research On Global Markets tracks the performance of the laboratory equipment market across the key geographies of North America, Europe, Latin America, Asia-Pacific, the Middle East and Africa. The North America laboratory equipment market is projected to expand at a CAGR of 7.8% during the 2018-2023 period, leading to global revenue of USD 33.7 Bn by 2023. Europe is anticipated to expand at a CAGR of 7.9% during the forecast period. The Asia-Pacific laboratory equipment market is expected to expand at the highest CAGR (8.4%) during the 2018-2023 period.
Research On Global Markets tracks the performance of the major players operating in the global laboratory equipment market including Danaher Corporation, Thermo Fischer, Agilent Technologies, Waters Corporation, PerkinElmer Corporation, Bio-Rad Laboratories, Shimadzu Corporation, and Bruker Corporation, among others.
Key highlights of this report:
- Market overview
- Global historical market revenue – (2015-2017) (USD Bn)
- Global forecast market revenue – (2018-2023) (USD Bn)
- Geography-wise market revenue – (2018, 2023) (USD Bn)
- Revenue based on technologies – 2018 (USD Bn)
- Market trends
- Market drivers
- Market challenges
- Analysis of the competitive landscape
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