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Industry Landscape
The laboratory equipment and supplies industry is experiencing steady growth, driven by increasing R&D investments, advancements in technology, and rising demand for diagnostics and testing. Key trends include automation, miniaturization, and the integration of digital technologies. The pharmaceutical, biotechnology, and environmental testing sectors are major consumers. Competition is intense, with companies focusing on innovation, quality, and customer service to maintain market share. The industry also faces challenges such as economic uncertainties and evolving regulatory landscapes.
Total Assets Under Management (AUM)
Market Size in United States
~USD 9 Billion
(5.9% CAGR)
• Increased R&D spending in pharmaceuticals and biotech. • Growing demand for lab automation. • Expansion of diagnostic and testing services.
Total Addressable Market
20 Billion USD,
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Lab Automation
The adoption of lab automation technologies, including robotic systems and automated liquid handling, enhances throughput, reduces human error, and improves data reproducibility in laboratory settings.
Miniaturization and Microfluidics
Miniaturization of laboratory equipment and the use of microfluidics enable higher throughput, reduced sample volumes, and faster analysis, especially in point-of-care diagnostics and high-throughput screening.
Digital Technologies (AI/ML)
Integration of digital technologies such as AI and machine learning improves data analysis, predictive modeling, and decision-making, leading to more efficient research and development processes and personalized medicine approaches.
Impactful Policy Frameworks
FDA Good Laboratory Practice (GLP) Regulations
The FDA's GLP regulations (21 CFR Part 58) establish a framework for conducting non-clinical laboratory studies to support the safety and efficacy of FDA-regulated products, ensuring data integrity and reliability.
Compliance with the updated guidelines ensures that laboratory equipment used in clinical trials produces reliable and accurate data, which is crucial for regulatory approval of new drugs and therapies.
ISO 17025:2017 - General requirements for the competence of testing and calibration laboratories
ISO 17025:2017 specifies the general requirements for the competence, impartiality, and consistent operation of testing and calibration laboratories, helping to standardize laboratory practices globally. Laboratories use ISO/IEC 17025 to develop their management system for quality, administrative and technical operations.
Adherence to these standards ensures that laboratory equipment is calibrated correctly and produces accurate measurements, enhancing the reliability of testing results and facilitating international trade.
OSHA Laboratory Safety Standard (29 CFR 1910.1450)
The OSHA Laboratory Safety Standard (29 CFR 1910.1450) requires laboratories to implement a Chemical Hygiene Plan to protect workers from the health hazards associated with hazardous chemicals in the laboratory. It outlines procedures and practices for handling chemicals safely.
These requirements affect the types of chemicals that can be used in laboratory experiments and the equipment used to handle them, requiring investments in safer alternatives and advanced containment systems.
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