Europe Laboratory Equipment Market Size & Outlook
Europe laboratory equipment market, 2018-2030 (US$M)
Related Markets
Europe laboratory equipment market highlights
- The Europe laboratory equipment market generated a revenue of USD 9,326.4 million in 2023.
- The market is expected to grow at a CAGR of 7.8% 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, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 9,326.4 million |
| Market revenue in 2030 | USD 15,810.3 million |
| Growth rate | 7.8% (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, Europe region accounted for 31.0% 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 28.84% in 2023. Horizon Databook has segmented the Europe laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
Pharmaceutical and biotechnology industries in Europe have significantly invested in R&D over the recent year due to high demand for advanced medicines. This may be attributed to growing aging population and increasing incidence of chronic & communicable diseases.
The availability of advanced technologies and infrastructure in Europe is also anticipated to boost R&D investments in the region. In addition, EU has taken initiatives in various projects and is discovering and developing various drugs including biosimilars, vaccines within the country.
Moreover, the increasing government initiative in the region is expected to propel the market growth. For instance, in September 2021, Under the Solidarity for Health initiative funded by the European Union, Belarus received support from the EU and the WHO to bolster its healthcare system during the COVID-19 pandemic.
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Laboratory Equipment Market Scope
Laboratory Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe laboratory equipment market size, by country, 2018-2030 (US$M)
Europe Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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