Laboratory Supplies Market Size, Share & Trend Analysis

New York, Sept. 09, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Laboratory Supplies Market Size, Share and Trend Analysis Report by Product, Region and Segment , 2022-2030” –

Laboratory Supplies Market Growth and Trends

The global laboratory supplies market size is expected to reach USD 68.8 billion by 2030, growing at a CAGR of 7.6% from 2022 to 2030. Rising investment in R&D activities by country, merger of laboratory equipment with state-of-the-art technology and the increasing demand for plastics in the healthcare sector due to its advantages over metal and glass, including cost-effectiveness, lightness, versatility and durability. biocompatibility, are factors driving the market.

Laboratories have developed as multi-purpose research facilities in which many types of test mechanisms, research comparisons, and different developments are carried out. This has also led to an increase in the market demand for laboratory supply.

In addition, the trend of laboratory supplies research has grown strongly in the past decade. This has resulted in the expansion of new laboratories in academic institutions, thereby driving the growth of the market.

In addition, clinical laboratories are also experiencing major technological developments. With intense research and development in the field of personalized medicine and disease pathogenesis, advanced diagnostic procedures and tests are widely performed.

Technological improvements in the laboratory continue to bring real benefits that increase through greater ease of use, faster analysis, improved safety, greater accuracy, increased capacity, operational efficiency, increased reliability and many other intangible assets.

Highlights of the Laboratory Supplies Market Report
• Equipment segment led the market with a share of over 63.4% in 2021 due to the high costs associated with it
• The disposable products segment is expected to experience a rapid growth rate of 8.3% over the forecast period as they help to avoid contamination and reduce errors in procedures
• Among disposable products, tubes segment accounted for a maximum share of 19.2% in 2021. They are mainly used in laboratories for viewing, storing and transporting samples
• North America was the top regional segment by revenue and market share in 2021. It accounted for more than 37.5% of the market share owing to the increase in research activities conducted in the region
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