Saudi Arabia Laboratory Supplies Market Size & Outlook
Saudi Arabia laboratory supplies market, 2018-2030 (US$M)
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Saudi Arabia laboratory supplies market highlights
- The Saudi Arabia laboratory supplies market generated a revenue of USD 217.8 million in 2023 and is expected to reach USD 299.4 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- In terms of segment, equipment was the largest revenue generating product in 2023.
- Disposables is the most lucrative product segment registering the fastest growth during the forecast period.
Laboratory supplies market data book summary
| Market revenue in 2023 | USD 217.8 million |
| Market revenue in 2030 | USD 299.4 million |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Largest segment | Equipment |
| Fastest growing segment | Disposables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Equipment, Disposables |
| Key market players worldwide | Agilent Technologies Inc, Bio-Rad Laboratories Inc, Bruker Corp, Danaher Corp, FUJIFILM Holdings Corp, PerkinElmer, Sartorius AG, Shimadzu Corp, Thermo Fisher Scientific Inc, Waters Corp |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.5% of the global laboratory supplies 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 supplies 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 662.5 million by 2030.
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Laboratory Supplies Market Scope
Laboratory Supplies Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia laboratory supplies market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to laboratory supplies market will help companies and investors design strategic landscapes.
Equipment was the largest segment with a revenue share of 62.58% in 2023. Horizon Databook has segmented the Saudi Arabia laboratory supplies market based on equipment, disposables covering the revenue growth of each sub-segment from 2018 to 2030.
Currently, only 30% of pharmaceutical products are manufactured locally in Saudi Arabia. Thus, the country relies considerably on import of pharmaceutical products, mainly from Europe, to meet local demand. This is primarily due to insufficient local production of drugs and lack of research capabilities.
However, the country announced a reform plan to be among the top 10 countries in the Global Competitiveness Index, over the coming years, which can be achieved by scaling up R&D activities and infrastructure. The other objective includes having five Saudi universities among the top 200 in international rankings, which is a part of its Vision 2030.
As per the R&D Office of the Ministry of Education, this requires high-quality research performance at institutions across the country. There has been a need for strengthening the R&D ecosystem in the country, and therefore, USD 1.6 billion has been allocated for the cause.
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Target buyers of Saudi Arabia laboratory supplies market databook
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Our clientele includes a mix of laboratory supplies market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia laboratory supplies market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia laboratory supplies market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia laboratory supplies market size, by product, 2018-2030 (US$M)
Saudi Arabia Laboratory Supplies Market Outlook Share, 2023 & 2030 (US$M)
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