Asia Pacific Laboratory Equipment Market Size & Outlook
Asia Pacific laboratory equipment market, 2018-2030 (US$M)
Related Markets
Asia Pacific laboratory equipment market highlights
- The Asia Pacific laboratory equipment market generated a revenue of USD 7,011.2 million in 2023.
- The market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, general was the largest revenue generating product in 2023.
- Support is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 7,011.2 million |
| Market revenue in 2030 | USD 11,163.6 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | General |
| Fastest growing segment | Support |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | General, Analytical, Clinical, Support, Specialty |
| Key market players worldwide | Sartorius AG, Bio-Rad Laboratories Inc, FUJIFILM Holdings Corp, Thermo Fisher Scientific Inc, Agilent Technologies Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 23.3% of the global laboratory equipment market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 20,012.6 million by 2030.
General was the largest segment with a revenue share of 27% in 2023. Horizon Databook has segmented the Asia Pacific laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is anticipated to witness substantial growth over the forecast period, owing to increasing investments by companies in developed economies for enhancing healthcare and amendments made by regulatory bodies for changing clinical trial evaluation standards to align with global standards. Furthermore, several stakeholders are setting up new facilities and forming alliances to expand the reach of their offerings to different locations in the region.
For instance, in October 2020, Sai Life Sciences announced plans to expand its biology capabilities at its integrated R&D campus in Hyderabad, India, with a dedicated 75,000 sq. ft. facility. This new facility will offer in vitro & in vivo biology services and DMPK & toxicology capabilities, with the first set of labs scheduled to open in March 2021.
Furthermore, an increase in government initiatives contributed to the development of the market in the region. Government organizations play a crucial role in enhancing the healthcare sector and laboratory infrastructure, thereby contributing to the growth of the market.
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Laboratory Equipment Market Scope
Laboratory Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific laboratory equipment market size, by country, 2018-2030 (US$M)
Asia Pacific Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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