Global Laboratory Equipment Market to Grow at 8% CAGR, Driven by AI, Automation & R&D Funding by 2030

The laboratory equipment market is expected to grow at a CAGR of ~8% during the forecast period. The growth is driven by rapid technological advancements such as automation and AI, rising R&D in life sciences, and increased funding from public and private sectors for research. However, the high initial cost of sophisticated instruments, continuous maintenance, lack of skilled personnel, and limited infrastructure in emerging markets are major constraints for the growth of the laboratory equipment market. 

Laboratory equipment encompasses a diverse range of devices and tools, including spectrometers, centrifuges, incubators, microscopes, and analytical devices, which are crucial for testing, measuring, and experimenting across different sectors. Some of the equipment has multidisciplinary applications and is becoming a significant part not only in biopharma companies, but also in environmental testing, food safety, forensics, and academia. Furthermore, the integration with digital interfaces and data management tools has enhanced precision and reproducibility in laboratory settings.

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Automation reshaping the laboratory equipment landscape

Automation is now a core innovation that is redefining the laboratory equipment market, which has led to faster results, increased accuracy, and helps maintain cost efficiency. Moreover, automation has enabled experimenting with larger samples with reduced human errors, improved safety and accelerated experimental cycles, all of which are critical in pharmaceuticals, biotechnology, and academia. Equipment like digital-PCR, smart centrifuge, and automatic pipetting system has boosted drug production, diagnostics, and research reproducibility. Additionally, incorporating AI and IoT in the lab settings has enabled analysis of complex datasets to provide real-time insights, predictive analysis, and improved decision support. Automation also helps to bridge the operational gap due to the shortage of trained technicians across the globe. For instance,

• In June 2024, Thermo Fisher Scientific launched Stellar, a mass spectrometer which can be integrated with cloud-based workflows and UHPLC system, thereby providing high-throughput biomarker verification with 10x increased quantitative sensitivity, enhancing the yield by 90%, and accelerating proteomics research
• In September 2023, Bio-Rad Laboratories, Inc. launched the PTC Tempo 48/48 and PTC Tempo 384 thermal cyclers that are designed to enhance PCR applications such as sequencing, cloning, and genotyping. The 48/48 model features dual blocks that allow two protocols to run simultaneously, while the 384 model includes a motorized lid for automation and robotic integration
• In September 2023, Yourgene Health launched the MagBench, an automated DNA extraction instrument and kit in Asia-Pacific and the Middle East markets. This technology streamlines non-invasive prenatal testing (NIPT) workflows with advanced automation, intuitive touchscreen control, rapid processing times, and adjustable throughput
• In February 2023, SCIEX partnered with Beckman Coulter Life Sciences to integrate the Echo® MS acoustic ejection mass spectrometry system with automated liquid handlers, creating a fully automated, high-throughput platform for faster sample processing and enhances precision in applications like drug screening and synthetic biology; supporting the growing shift toward automation in modern laboratories

Cloud-based lab systems driving efficiency, connectivity, and data security

Cloud-based lab management systems have streamlined the workflows in modern diagnostic and research laboratories. These platforms support storage and analysis of a large volume of complex data, enabling digital integration of equipment and sample tracking, further reducing manual errors and enhancing traceability in clinical settings. These systems allow lab professionals to remotely access real-time data, thereby facilitating faster decision-making and helping to streamline operations. Additionally, cloud-based technologies facilitate the integration of AI and machine learning, enabling laboratories to examine extensive datasets for trends, predictive maintenance, and decision-making, especially for multi-site clinical trials and laboratories where consistency and traceability are essential. For instance, in September 2022, BD launched its BD Research Cloud, a cloud software platform that streamlines the entire flow cytometry workflow, which includes panel design, instrument integration, data analysis, and collaboration, to accelerate research insights and improve experimental efficiency.

Competitive Landscape Analysis

The global laboratory equipment market is marked by the presence of established and emerging market players such as Agilent Technologies; Thermo Fisher Scientific Inc.; Bio-Rad Laboratories Inc.; Waters Corporation; Danaher Corporation; Siemens Healthineers; Eppendorf AG; PerkinElmer, Inc.; Pace Analytical Services, Inc.; and Becton, Dickinson and Company among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.

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Global Laboratory Equipment Market Segmentation

This report by Medi-Tech Insights provides the size of the global laboratory equipment market at the regional- and country-level from 2023 to 2030. The report further segments the market based on product and end-user.

Market Size & Forecast (2023-2030), By Product, USD Million

•  
• Analytical Equipment
• General Equipment
• Clinical Equipment
• Support Equipment
• Specialty Equipment

Market Size & Forecast (2023-2030), By End-User, USD Million

•  
• Hospitals
• Research Institutions
• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations
• Others

Market Size & Forecast (2023-2030), By Region, USD Million

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
• Latin America
• Middle East & Africa

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
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