South Africa Laboratory Equipment Market Size & Outlook
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South Africa laboratory equipment market highlights
- The South Africa laboratory equipment market generated a revenue of USD 344.7 million in 2023 and is expected to reach USD 484.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 5% 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 344.7 million |
| Market revenue in 2030 | USD 484.3 million |
| Growth rate | 5% (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, South Africa accounted for 1.1% 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 Middle East & Africa, South Africa laboratory equipment market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 484.3 million by 2030.
General was the largest segment with a revenue share of 27.82% in 2023. Horizon Databook has segmented the South Africa laboratory equipment market based on general, analytical, clinical, support, specialty covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives such as the development of special economic zones, Tripartite Free Trade Area, tax breaks, and the establishment of South African Health Products Regulatory Authority (SAHPRA) are expected to increase the number of foreign investments & collaborations in South Africa, facilitating market growth.
Moreover, an increase in the number of public-private partnerships and a growing need for upgrading hospitals & laboratories are some of the other factors expected to create opportunities for market players.
In September 2019, iBio, Inc. under an MOU entered into its initial Statement of Work (SOW1) with South Africa’s AzarGen Biotechnologies (Pty.) Ltd. Under SOW1, iBio would develop research quantities of plant-made rituximab using its proprietary FastPharming System for AzarGen. The developed drug candidate would then undergo testing via iBio CDMO’s bioanalytical services. Such supportive collaborations are anticipated to increase the demand for lab equipment.
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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 |
South Africa laboratory equipment market size, by product, 2018-2030 (US$M)
South Africa Laboratory Equipment Market Outlook Share, 2023 & 2030 (US$M)
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