Laboratory Equipment Services Market - Forecast(2020 - 2025)

Report Code: HCR 0531 Report Format: PDF + Excel (Delivery in 48 Hrs)
Laboratory Equipment Services Market Overview 
Laboratory Equipment Services Market size is estimated to reach $19.24 billion by 2025, growing at a CAGR of 11.16% during the forecast period 2020-2025. Laboratory Equipment refers to the various tools and equipment used by the scientists who work in a laboratory. Laboratory Equipment is used to perform an experiment or to take measurements and gather data. Increase in the demand for effective diagnosis of diseases, government initiatives, growing research activities in the pharmaceutical and biotechnological industries and growing demand for laboratory automation are the factors that are set to drive the growth of the global market for the forecast period 2020-2025. 
 
Laboratory Equipment Services Market Report Coverage
The report: “Laboratory Equipment Services Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Laboratory Equipment Services Market. 

By Service Type: Repair and Maintenance, Validation and Calibration.
By Contract: Standard and Custom.
By Equipment: General Equipment, Support Equipment, Analytical Equipment, and Specialty Equipment.
By Service Providers: Original Equipment Manufacturers, Third Party Suppliers, Others.
By End User: Clinical and Diagnostic Laboratories, Research and Academic Institutions, Pharmaceutical and Biotechnological Companies, Others.
By Geography: North America, Asia-Pacific, Europe, and Rest of World (RoW).

Key Takeaways
  • Geographically, North America Laboratory Equipment Services Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
  • The increase in the technology and awareness among customers is likely to aid in the market growth of Laboratory Equipment Services Market.
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Laboratory Equipment Services Market report.
  • The increase in the number of chronic diseases and increase in the demand for laboratory automation are creating higher opportunities for the growth of market for the forecast period 2020-2025.

By Service Type- Segment Analysis
Based on the Service Type, the Repair and Maintenance segment held the largest share in 2019 owing to the factors such as rapid increase in the use of laboratory equipment for research activities and increase in the investment by the public and the private companies. Calibration segment is estimated to be the fastest growing segment during the forecast period 2020-2025. The growth in this segment is owing to the factors such as growing need for accurate and precise information, growing consciousness among customers and the government regulations.

By End User- Segment Analysis
Based on the End User, the Clinical and Diagnostic Laboratories segment held the largest share in 2019, owing to the factors such as rapid increase in the research in drug discovery by the major companies, rapid increase in the number of diseases and growing awareness regarding health. Pharmaceutical and Biotechnological Companies segment is estimated to be the fastest growing segment owing to the factors such as increase in the demand for long-term treatment for chronic diseases, growing healthcare financial products and increase in the demand for generics market.

By Geography - Segment Analysis 
Based on the Geography, North America held the largest share in 2019. The growth in this segment is owing to the factors such as advancements in technology, rapid growth in the healthcare infrastructure and government policies supporting the developments in healthcare. Asia-Pacific is estimated to be the fastest growing segment in the forecast period (2020-2025), owing to the factors such as rapid increase in the import of laboratory equipment, increase in the investment by the major companies in the developing nations and growing research in pharmaceutical companies.

Drivers – Laboratory Equipment Services Market
  • Rapid increase in the research activities in the pharmaceutical and biotechnological industries.
The increase in the research activities in the pharmaceutical and biotechnological industries, owing to rapid increase in the number of diseases, well-developed infrastructures and advancements in technology is estimated to enhance the growth of Laboratory Equipment Services Market. 
  • Government policies to enhance biomedical research activities.
There is a rapid increase in the initiatives and policies by the governments towards biomedical research activities owing to growing awareness among customers, increase in the number of aging population and growing prevalence of chronic diseases. Investments in the biotechnology sector and improvement in the healthcare infrastructure is also estimated to enhance the growth of the Laboratory Equipment Services Market.

Challenges – Laboratory Equipment Services Market
  • The shift from lab-based diagnosis to home-based testing and high cost associated with the service contracts and raw material.
The shift from lab-based diagnosis to home-based testing owing to increase in the awareness among customers, decreasing the chances of complications and advancements in technology is estimated to reduce the growth of the Laboratory Equipment Services Market. High costs associated with the service contracts and raw material is also said to reduce the growth of the Laboratory Equipment Services Market.

Laboratory Equipment Services Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Laboratory Equipment Services Market. Key companies of this market are Agilent Technologies, Danaher Corporation, Pace Analytical Services, Thermo Fisher Scientific Inc, PerkinElmer Inc, Waters Corporation, Eppendorf AG, Siemens Healthineers, Abbott Laboratories, Bio-Rad Laboratories Inc among others.

Acquisitions/Product Launches:
  • In 2020, Agilent Technologies has launched CrossLab Connect Services for Lab-wide Asset Monitoring, which is an advanced service for laboratories seeking increased visibility and control over operations.
  • In 2020, Waters Corporation has launched the Waters ARC HPLC System to help laboratories meet quality and production targets and for routine testing in the pharmaceutical, food, academic and materials market.
1. Laboratory Equipment Services Market - Overview
    1.1 Definitions and Scope
2. Laboratory Equipment Services Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Service Type
    2.3 Key trends by Equipment
    2.4 Key trends by Service Providers
    2.5 Key trends by End User
    2.6 Key trends by Geography
3. Laboratory Equipment Services Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies 
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Laboratory Equipment Services Market - Startup Companies Scenario (Premium)
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Laboratory Equipment Services Market – Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Laboratory Equipment Services - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Laboratory Equipment Services Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Laboratory Equipment Services Market – By Service Type (Market Size –$Million/$Billion)
    8.1 Repair and Maintenance
    8.2 Validation
    8.3 Calibration
9. Laboratory Equipment Services Market – By Contract (Market Size –$Million/$Billion)
    9.1 Standard
    9.2 Custom
10. Laboratory Equipment Services Market – By Equipment (Market Size –$Million/$Billion)
    10.1 General Equipment
    10.2 Support Equipment
    10.3 Analytical Equipment
    10.4 Specialty Equipment
11. Laboratory Equipment Services Market – By Service Providers (Market Size –$Million/$Billion)
    11.1 Original Equipment Manufacturers
    11.2 Third Party Suppliers
    11.3 Others
12. Laboratory Equipment Services Market – By End User (Market Size –$Million/$Billion)
    12.1 Clinical and Diagnostic Laboratories
    12.2 Research and Academic Institutions
    12.3 Pharmaceutical and Biotechnological Companies
    12.4 Others
13. Laboratory Equipment Services Market - By Geography (Market Size –$Million/$Billion)
    13.1 North America
        13.1.1 U.S.
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 U.K.
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 India
        13.3.3 Japan
        13.3.4 South Korea
        13.3.5 Australia & New Zealand
        13.3.6 Rest of Asia-Pacific
    13.4 Rest of the World
        13.4.1 Middle East
        13.4.2 Africa
        13.4.3 South America
14. Laboratory Equipment Services Market - Entropy
15. Laboratory Equipment Services Market – Industry/Segment Competition Landscape   (Premium) 
    15.1 Market Share Analysis
        15.1.1 Global Market Share – Key Companies
        15.1.2 Market Share by Region – Key companies
        15.1.3 Market Share by Countries – Key Companies
        15.1.4 Best Practices for Companies
16. Laboratory Equipment Services Market – Key Company List by Country Premium (Premium)
17. Laboratory Equipment Services Market Company Analysis
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
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