A detailed analysis of the Global Laboratory Equipment Services Market 2023 is provided, including global, regional, and country-level market sizes, segmentation market growth, market share, competitive landscape, sales analysis, impact of domestic and global Laboratory Equipment Services Market players, value chain optimization, trade regulations, recent developments, strategic market growth analyses, product launches, expanding the area market, and technological advances.

The global laboratory equipment services market size was USD 12.1 Billion in 2022 and is expected to reach USD 28.53 Billion in 2032, and register a rapid revenue CAGR of 10% during the forecast period. Increasing Research & Development (R&D) activities in pharmaceutical and Biotechnology industries and rising demand for outsourcing laboratory equipment services are major factors driving market revenue growth.

Outsourcing of laboratory equipment services is a significant trend in the industry due to their ability to let businesses concentrate on their core skills while saving money on maintenance and repair of laboratory equipment. In addition, need for laboratory equipment services is increasing by rising number of R&D activities in pharmaceutical and biotechnology industries, as these sectors need specialized equipment for research.

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Market Overview:

In the pharmaceutical and healthcare sectors, there is rapid change. As cell and gene therapies become increasingly available, patients are finding appropriate treatments for previously incurable diseases. Machine learning and artificial intelligence (AI) technologies are making it possible for more inventive, faster, and cheaper therapy development to take place. By utilizing data-driven projects, manufacturing, the supply chain, and the entire healthcare ecosystem can benefit. It is clear that consumer attitudes and behaviors are shifting, ranging from a greater use of technology and data sharing to a willingness to use tools to make prescriptions and treatment decisions. Pharma and healthcare markets are expected to grow in the next few years as a result of such factors.

Key Players covered in this report are

  • Agilent Technologies Inc.
  • Danaher Corporation
  • Thermo Fisher Scientific Inc.
  • Bruker Corporation
  • Waters Corporation
  • PerkinElmer Inc.
  • Becton, Dickinson and Company
  • Shimadzu Corporation
  • Abbott Laboratories
  • Roche Holding AG

Based on Service Type market is segmented into:

  • Calibration
  • Validation
  • Repair
  • Maintenance
  • Others

Based on End-Use market is segmented into:

  • Pharmaceutical & Biotechnology Companies
  • Academic & Research Institutes
  • Contract Research Organizations (CROs)
  • Others

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Based on Region market is segmented into:

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Strategic Developments:

  • In 2021, Danaher Corporation acquired Aldevron, a biologics company specializing in the production of plasmid DNA, proteins, and mRNA for gene therapy and vaccine research. This acquisition will expand Danaher Corporation's life science capabilities and services.
  • In 2021, Thermo Fisher Scientific Inc. acquired PPD, a leading provider of clinical research services, for $17.4 billion. This acquisition will strengthen Thermo Fisher's position in the healthcare industry and expand its offerings in the clinical research services market.
  • In 2020, Agilent Technologies Inc. acquired Resolution Bioscience, a molecular diagnostics company that develops liquid biopsy tests for cancer. This acquisition will expand Agilent's product offerings in the molecular diagnostics market.
  • In 2020, PerkinElmer Inc. acquired Oxford Immunotec Global PLC, a leading provider of T-cell diagnostic tests for tuberculosis, for $591 million. This acquisition will expand PerkinElmer's offerings in the Infectious Disease Diagnostics market.
  • In 2020, Bruker Corporation acquired Canopy Biosciences, a company that develops multiplexed immunoassay and gene editing technologies. This acquisition will expand Bruker's capabilities in the life science research market.

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