Laboratory Equipment Services Market

Executive Summary

Laboratory Equipment Services Market was valued at US $12.24 billion in 2021 and is projected to grow at 12.66% CAGR over the forecast period to reach US $25.02 billion by 2027. Laboratory Equipment Services Market represented US $2.60 billion opportunity over 2019-2021 and estimated to create US $12.79 billion opportunity in 2027 over 2021.

Laboratory Equipment Services from Consainsights analyses the Laboratory Equipment Services Market in the Life Sciences industry over the forecast period to 2027.

Laboratory Equipment Services research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Laboratory Equipment Services segmentation includes Equipment Type, Type, Service Provider, Contract Type, End User, Region and Geography.

Based on the Equipment Type, the Laboratory Equipment Services analysis covers Analytical Equipment, General Equipment, Specialty Equipment, Support Equipment.

In Equipment Type segment, Analytical Equipment segment has highest cagr growth of 11.18%.

Based on the Type, the Laboratory Equipment Services analysis covers Repair and Maintenance Services, Calibration Services, Validation Services, Other Services.

In Type segment, Repair and Maintenance Services segment has highest cagr growth of 11.18%.

Based on the Service Provider, the Laboratory Equipment Services analysis covers Original Equipment Manufacturers, Third-Party Service Providers, Other Service Providers.

In Service Provider segment, Original Equipment Manufacturers segment has highest cagr growth of 11.18%.

Based on the Contract Type, the Laboratory Equipment Services analysis covers Standard Service Contracts, Customized Service Contracts.

In Contract Type segment, Standard Service Contracts segment has highest cagr growth of 11.18%.

Based on the End User, the Laboratory Equipment Services analysis covers Pharmaceutical & Biotechnology Companies, Clinical & Diagnostic Laboratories, Academic & Research Institutions.

In End User segment, Pharmaceutical & Biotechnology Companies segment has highest cagr growth of 11.18%.

Based on the Region, the Laboratory Equipment Services analysis covers North America, Asia Pacific, Europe, Rest of the World.

In Region segment, North America segment has highest cagr growth of 11.18%.

Based on the region, the Laboratory Equipment Services analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Agilent Technologies, Thermo Fisher Scientific, Inc., Waters Corporation, Danaher Corporation, Eppendorf AG, PerkinElmer, Inc., Pace Analytical Services, LLC., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Siemens Healthineers and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Equipment Type

Introduction

In 2021, Analytical Equipment segment has the highest revenue of US $4.98 billion and is expected to grow at CAGR of 11.18% by 2027 Analytical Equipment segment has highest cagr growth of 11.18%.

Analytical Equipment

Analytical Equipment segment was valued at US $3.92 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $10.18 billion by 2027. Analytical Equipment segment represented US $1.06 billion opportunity over 2019-2021 and estimated to create US $5.20 billion opportunity in 2027 over 2021.

General Equipment

General Equipment segment was valued at US $2.36 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $6.14 billion by 2027. General Equipment segment represented US $0.64 billion opportunity over 2019-2021 and estimated to create US $3.14 billion opportunity in 2027 over 2021.

Specialty Equipment

Specialty Equipment segment was valued at US $1.67 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $4.32 billion by 2027. Specialty Equipment segment represented US $0.45 billion opportunity over 2019-2021 and estimated to create US $2.21 billion opportunity in 2027 over 2021.

Support Equipment

Support Equipment segment was valued at US $1.69 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $4.38 billion by 2027. Support Equipment segment represented US $0.45 billion opportunity over 2019-2021 and estimated to create US $2.24 billion opportunity in 2027 over 2021.

Type

Introduction

In 2021, Repair and Maintenance Services segment has the highest revenue of US $5.28 billion and is expected to grow at CAGR of 11.18% by 2027 Repair and Maintenance Services segment has highest cagr growth of 11.18%.

Repair and Maintenance Services

Repair and Maintenance Services segment was valued at US $4.16 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $10.80 billion by 2027. Repair and Maintenance Services segment represented US $1.12 billion opportunity over 2019-2021 and estimated to create US $5.52 billion opportunity in 2027 over 2021.

Calibration Services

Calibration Services segment was valued at US $2.67 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $6.92 billion by 2027. Calibration Services segment represented US $0.72 billion opportunity over 2019-2021 and estimated to create US $3.54 billion opportunity in 2027 over 2021.

Validation Services

Validation Services segment was valued at US $1.75 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $4.55 billion by 2027. Validation Services segment represented US $0.47 billion opportunity over 2019-2021 and estimated to create US $2.33 billion opportunity in 2027 over 2021.

Other Services

Other Services segment was valued at US $1.06 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $2.75 billion by 2027. Other Services segment represented US $0.29 billion opportunity over 2019-2021 and estimated to create US $1.40 billion opportunity in 2027 over 2021.

Service Provider

Introduction

In 2021, Original Equipment Manufacturers segment has the highest revenue of US $5.20 billion and is expected to grow at CAGR of 11.18% by 2027 Original Equipment Manufacturers segment has highest cagr growth of 11.18%.

Original Equipment Manufacturers

Original Equipment Manufacturers segment was valued at US $4.10 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $10.63 billion by 2027. Original Equipment Manufacturers segment represented US $1.10 billion opportunity over 2019-2021 and estimated to create US $5.43 billion opportunity in 2027 over 2021.

Third-Party Service Providers

Third-Party Service Providers segment was valued at US $3.68 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $9.55 billion by 2027. Third-Party Service Providers segment represented US $0.99 billion opportunity over 2019-2021 and estimated to create US $4.88 billion opportunity in 2027 over 2021.

Other Service Providers

Other Service Providers segment was valued at US $1.86 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $4.83 billion by 2027. Other Service Providers segment represented US $0.50 billion opportunity over 2019-2021 and estimated to create US $2.47 billion opportunity in 2027 over 2021.

Contract Type

Introduction

In 2021, Standard Service Contracts segment has the highest revenue of US $6.19 billion and is expected to grow at CAGR of 11.18% by 2027 Standard Service Contracts segment has highest cagr growth of 11.18%.

Standard Service Contracts

Standard Service Contracts segment was valued at US $4.88 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $12.66 billion by 2027. Standard Service Contracts segment represented US $1.31 billion opportunity over 2019-2021 and estimated to create US $6.47 billion opportunity in 2027 over 2021.

Customized Service Contracts

Customized Service Contracts segment was valued at US $4.76 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $12.37 billion by 2027. Customized Service Contracts segment represented US $1.28 billion opportunity over 2019-2021 and estimated to create US $6.32 billion opportunity in 2027 over 2021.

End User

Introduction

In 2021, Pharmaceutical & Biotechnology Companies segment has the highest revenue of US $7.75 billion and is expected to grow at CAGR of 11.18% by 2027 Pharmaceutical & Biotechnology Companies segment has highest cagr growth of 11.18%.

Pharmaceutical & Biotechnology Companies

Pharmaceutical & Biotechnology Companies segment was valued at US $6.11 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $15.85 billion by 2027. Pharmaceutical & Biotechnology Companies segment represented US $1.64 billion opportunity over 2019-2021 and estimated to create US $8.10 billion opportunity in 2027 over 2021.

Clinical & Diagnostic Laboratories

Clinical & Diagnostic Laboratories segment was valued at US $3.02 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $7.85 billion by 2027. Clinical & Diagnostic Laboratories segment represented US $0.81 billion opportunity over 2019-2021 and estimated to create US $4.01 billion opportunity in 2027 over 2021.

Academic & Research Institutions

Academic & Research Institutions segment was valued at US $0.51 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $1.32 billion by 2027. Academic & Research Institutions segment represented US $0.14 billion opportunity over 2019-2021 and estimated to create US $0.68 billion opportunity in 2027 over 2021.

Region

Introduction

In 2021, North America segment has the highest revenue of US $4.63 billion and is expected to grow at CAGR of 11.18% by 2027 North America segment has highest cagr growth of 11.18%.

North America

North America segment was valued at US $3.64 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $9.46 billion by 2027. North America segment represented US $0.98 billion opportunity over 2019-2021 and estimated to create US $4.84 billion opportunity in 2027 over 2021.

Asia Pacific

Asia Pacific segment was valued at US $2.90 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $7.52 billion by 2027. Asia Pacific segment represented US $0.78 billion opportunity over 2019-2021 and estimated to create US $3.85 billion opportunity in 2027 over 2021.

Europe

Europe segment was valued at US $1.89 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $4.92 billion by 2027. Europe segment represented US $0.51 billion opportunity over 2019-2021 and estimated to create US $2.51 billion opportunity in 2027 over 2021.

Rest of the World

Rest of the World segment was valued at US $1.20 billion in 2019 and is projected to grow at 11.18% CAGR over the forecast period to reach US $3.12 billion by 2027. Rest of the World segment represented US $0.32 billion opportunity over 2019-2021 and estimated to create US $1.60 billion opportunity in 2027 over 2021.