Laboratory Supplies Market Size, Share and Analysis By Product (Pipettes, Tips, Tubes, Gloves and Masks, Cell Culture Consumables, and Others), By Application (Clinical Diagnostics {Microbiology, Genetic Testing, and Others}, and Research), and Regional Forecast, 2024-2032

The laboratory supplies are the tools widely used in manufacturing, and research & diagnostics purposes across clinical diagnostic laboratories, microbiology laboratories, research laboratories, and pathology laboratories. Moreover, the increase in the number of clinical and pathology tests, and procedures, and rise in private & public healthcare investments by pharmaceutical and biotechnology companies are some of the factors, propelling the demand for laboratory supplies. For instance, according to the article published by Congressional Budget Office in August 2019, around USD 83.00 billion was spent on research and development activities by pharmaceutical companies.

Moreover, government bodies of several countries have also increased the expenditure on the healthcare industry, thereby leading to an increase in growth prospects for laboratory supplies.

Currently, the market for laboratory supplies is witnessing lucrative growth, owing to the rising investment to modernize diagnostic centers.

• For instance, in November 2021, the NHS received USD 343.9 million to modernize diagnostic laboratories. This investment will also lead to the adoption of advanced laboratory supplies by diagnostic and research laboratories.

Furthermore, clinical laboratories are using modern laboratory supplies to perform various diagnostics procedures. There are several benefits of using technologically advanced laboratory supplies, such as ease of use, speed of analysis, improved safety, higher precision, increased capacity, operational efficiencies, and enhanced reliability, owing to which, the demand for laboratory supplies is projected to rise in the coming years.

• For instance, in January 2020, BrandTech Scientific, Inc. launched the HandyStep touch, a repetitive pipette with touchscreen operation. The repetitive pipette reduces the risk of RSI (repetitive strain injury syndrome), as it can be controlled through the touch. The launch of the product helped the company to expand its product portfolio


• In August 2019, Thermo Scientific Inc. launched a new generation of centrifuges with a unique touchscreen interface that improves performance, compliance, and safety on the benchtop.

Impact of COVID-19 on the Laboratory Supplies Market

The COVID-19 pandemic had a negative impact on the laboratory supplies market. Several research laboratories and research institutes were closed, owing to the implementation of the lockdown. Moreover, the shutdown of manufacturing facilities, coupled with border restrictions across several countries, led to disruptions in the supply chain, which lead to a shortage of laboratory supplies.

According to the article published by Nature in March 2021, various research projects related to healthcare were stopped or were slowed down, owing to the limited availability of plastic tips, gloves, centrifuge tubes, and several other laboratory essentials during COVID-19. The shortages of laboratory supplies, and supply chain disruptions, hampered the market growth during COVID-19. However, the negative impact was compensated by the increased demand for newly launched emergency-use authorized IVD tests, and laboratory supplies, that were used in the COVID-19 detection. Moreover, the revenue growth for major players were driven by the increase in the sales of COVID-19 diagnostic tests, thereby reducing the impact of COVID-19 on the laboratory supplies market.

Key Insights

The report will cover the following key insights:

• New Product Launches, Key Countries


• Key Industry Developments (Mergers and Acquisitions, and Partnerships)


• Pricing Analysis


• Impact of COVID-19 on the market

Analysis by Product

The pipettes segment accounted for a major share of the global laboratory supplies market. Pipettes are widely used in several laboratory experiments such as DNA isolation, PCR, and purification, as they handle minute fluid volumes with precision. The rise in the research, and development activities in the biotechnology and pharmaceutical companies are some of the factors, leading to the increase in the adoption of the pipettes.

Furthermore, technological advancements in pipettes are projected to drive the growth of the segment.

• For instance, in August 2020, Eppendorf introduced Move It Adjustable Spacing Pipettes for synchronous pipetting of a series of samples between different vessel formats. This can be done without tubing connections between the cone and piston-cylinder system.

Regional Analysis

North America constituted a major share of the global laboratory supplies market, owing to the presence of several clinical research laboratories across the U.S., and around 3,000 independent labs have their operations across the country. Moreover, several research centers, pharmaceutical, and biotechnology companies are engaged in research and development activities. According to an article published by Pharmaceutical Research and Manufacturers of America (PhRMA) in September 2022, the PhRMA member companies invested around USD 102.30 billion in research and development activities. The investment in research and development activities is anticipated to increase the adoption of laboratory supplies.

• According to the article published by the PETERSON-KFF Health System Tracker in February 2022, the spending on healthcare in the U.S., increased by 9.7%, and reached USD 4.1 trillion in 2020, at a significantly faster rate than the 4.3% increase in 2019.

Key Players Covered

The report includes the profiles of key players including Bio-Rad Laboratories, Inc., Agilent Technologies Inc., Bruker, Sartorius AG, PerkinElmer Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc., FUJIFILM Irvine Scientific., Waters Corporation,  INTEGRA Biosciences AG, and Sysmex Corporation.

Segmentation

Key Industry Developments

• In August 2021, the Baker Company, Inc. launched ReCO2ver, a rapid recovery cell culture incubator. These devices provide protection to the cells and helped the company to expand its product portfolio.


• In February 2021, INTEGRA Biosciences AG launched the D-ONE single channel-pipetting module. This system automates several tasks, such as serial dilutions, sample normalization, hit picking, or pipetting of complex plate layouts, and increases the productivity in the lab by reducing processing errors and physical strain. This product launch helped the company in strengthening its revenue growth.