(MENAFN- GlobeNewsWire - Nasdaq) A Comprehensive Analysis of the Global Laboratory Equipment Services Industry by Type, Equipment, Service Provider, Contract Type, End User and Region, with Detailed Profiles of Leading PlayersDublin, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The "Laboratory Equipment Services Market by Type, Equipment, Service Provider, Contract Type, End User - Global Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering.
The Laboratory Equipment Services Market grew from USD 15.74 billion in 2023 to USD 17.94 billion in 2024. It is expected to continue growing at a CAGR of 14.07%, reaching USD 39.55 billion by 2030.
The market's growth is influenced by the increasing complexity and integration of laboratory instruments, necessitating specialized service solutions. Additionally, the surge in R&D investments in biotechnology and pharmaceutical sectors demands enhanced equipment uptime and performance, further driving service requirements. An emerging opportunity within this market is the integration of IoT and AI technologies for predictive maintenance and remote monitoring solutions, which can significantly reduce downtime and costs. Companies can leverage these technologies to offer value-added services, thereby gaining a competitive edge.
However, the market faces limitations such as budget constraints within academic and research institutions that may lead to deferred maintenance and longer equipment lifecycles. Moreover, a shortage of skilled professionals capable of servicing advanced and proprietary equipment poses a challenge. To address these obstacles, companies should focus on training initiatives and partnerships with equipment manufacturers to ensure access to requisite skills and knowledge.
Innovation and research areas that hold promise for business growth include the development of automated calibration and validation systems, and digital platforms that offer end-to-end service management solutions. By embracing these areas, businesses can enhance operational efficiency and customer satisfaction. The nature of the laboratory equipment services market is dynamic and technology-driven, demanding ongoing adaptation to emerging scientific and technological trends.
Market Segmentation & Coverage
This research report categorizes the Laboratory Equipment Services Market to forecast the revenues and analyze trends in each of the following sub-markets:
Type Calibration Services Repair & Maintenance Services Validation Services
Equipment Analytical Equipment General Equipment Specialty Equipment Support Equipment
Service Provider Original Equipment Manufacturers Third-Party Service Providers
Contract Type Customized Service Contracts Standard Service Contracts
End User Academic & Research Institutions Clinical & Diagnostic Laboratories Pharmaceutical & Biotechnology Companies
Region Americas Argentina Brazil Canada Mexico United States
Asia-Pacific Australia China India Indonesia Japan Malaysia Philippines Singapore South Korea Taiwan Thailand Vietnam
Europe, Middle East & Africa Denmark Egypt Finland France Germany Israel Italy Netherlands Nigeria Norway Poland Qatar Russia Saudi Arabia South Africa Spain Sweden Switzerland Turkey United Arab Emirates United Kingdom
The report provides a detailed overview of the market, exploring several key areas:
Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market. Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development. Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape. Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players. Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future. Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
What is the current size of the market, and how is it expected to grow? Which products, segments, and regions present the most attractive investment opportunities? What are the prevailing technology trends and regulatory factors influencing the market? How do top vendors rank regarding market share and competitive positioning? What revenue sources and strategic opportunities guide vendors' market entry or exit decisions? Key Attributes
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $17.94 Billion |
| Forecasted Market Value (USD) by 2030 | $39.55 Billion |
| Compound Annual Growth Rate | 14% |
| Regions Covered | Global |
The leading players in the Laboratory Equipment Services Market, which are profiled in this report, include:
Agilent Technologies, Inc. AIC Lab Equipments Pvt. Ltd. AL-TAR Services Inc. Avantor, Inc. Bionics Scientific Technologies Pvt. Ltd. Eppendorf AG Full Spectrum Group, LLC JSC Labochema LT Marshall Scientific LLC Medical Equipment Source, LLC Nordic Service Group Pace Analytical Services, LLC PerkinElmer, Inc. Scientific Apparatus Service, Inc. Thermo Fisher Scientific, Inc.
Laboratory Equipment Services Market Dynamics
Market Drivers Increasing need for timely and effective diagnosis of diseases Rise in research activity in the pharmaceutical and biotechnology industries Growing investment and government funding to support biomedical research activities
Market Restraints Huge cost of service contracts
Market Opportunities Increasing demand for laboratory automation Growth in asset management companies
Market Challenges Limited scope for innovation
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Laboratory Equipment Services Market
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