India Laboratory Equipment Market Size & Outlook
India laboratory equipment market, 2018-2030 (US$M)
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India laboratory equipment market highlights
- The India laboratory equipment market generated a revenue of USD 2,126.7 million in 2023 and is expected to reach USD 3,348.0 million by 2030.
- The India market is expected to grow at a CAGR of 6.7% 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.
Laboratory equipment market data book summary
| Market revenue in 2023 | USD 2,126.7 million |
| Market revenue in 2030 | USD 3,348.0 million |
| Growth rate | 6.7% (CAGR from 2023 to 2030) |
| Largest segment | General |
| Fastest growing segment | Support |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 7.1% of the global laboratory equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India laboratory equipment market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,307.0 million by 2030.
General was the largest segment with a revenue share of 26.91% in 2023. Horizon Databook has segmented the India laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
More laboratory equipment manufacturers are setting up manufacturing facilities in India owing to a favorable regulatory climate and large population. The presence of several local players in India further aids the country in securing a strong market position.
India also has world-class technologies, doctors, and clinics, which can subsequently boost the demand for laboratory equipment. India is emerging as one of the lucrative markets for lab equipment across the globe.
This can be attributed to low costs, availability of industry experts, and presence of WHO-cGMP-compliant facilities. According to an article by The Pharma Letter, operational costs in India are nearly 40% lower than that in several developed nations, presenting significant economic benefits for multinational companies.
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Laboratory Equipment Market Scope
Laboratory Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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India laboratory equipment market size, by product, 2018-2030 (US$M)
India Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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