Japan Laboratory Equipment Market Size & Outlook
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Japan laboratory equipment market highlights
- The Japan laboratory equipment market generated a revenue of USD 1,875.6 million in 2023 and is expected to reach USD 3,067.5 million by 2030.
- The Japan market is expected to grow at a CAGR of 7.3% 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 1,875.6 million |
| Market revenue in 2030 | USD 3,067.5 million |
| Growth rate | 7.3% (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, Japan accounted for 6.2% 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 27.59% in 2023. Horizon Databook has segmented the Japan laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
According to Harvard Business Review, Japan is accelerating the new drug approval process to meet the needs of its aging population. Regulatory changes accelerating approval of certain devices & drugs have led to an increase in research collaborations, partnerships, and licensing deals among Japanese as well as foreign companies.
This faster drug approval process is anticipated to lead to an increase in the launch of drugs, which is expected to boost the demand for analytical testing products and lab equipment.
The growing number of conferences and symposiums on bioanalysis is expected to positively impact the market growth. In February 2018, Japan Bioanalysis Forum (JBF) conducted its 9th symposium to discuss advancements and uses of bioanalysis. Such symposiums are anticipated to create awareness regarding the latest analytical tools and techniques, thereby indirectly facilitating market growth.
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Laboratory Equipment Market Scope
Laboratory Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Bio-Rad Laboratories Inc | View profile | 8030 | 1000 Alfred Nobel Drive, Hercules, CA, United States, 94547 | https://www.bio-rad.com |
| Agilent Technologies Inc | View profile | 17700 | 5301 Stevens Creek Boulevard, Santa Clara, CA, United States, 95051 | https://www.agilent.com |
| Sartorius AG | View profile | 14338 | Otto-Brenner-Strasse 20, Gottingen, NI, Germany, 37079 | https://www.sartorius.com |
| Thermo Fisher Scientific Inc | View profile | 122000 | 168 Third Avenue, Waltham, MA, United States, 02451 | https://www.thermofisher.com |
| FUJIFILM Holdings Corp | View profile | 83784 | 7-3, Akasaka 9-chome, Minato-ku, Tokyo, Japan, 107-0052 | http://www.fujifilmholdings.com |
Japan laboratory equipment market size, by product, 2018-2030 (US$M)
Japan Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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