Health, medical, and pharmaceutical research studies require laboratory equipment

 

Laboratory Equipment Market
Laboratory Equipment Market

Due to consistent demand from a diverse end-user segment, the lab equipment industry has seen steady growth. Emerging markets such as India and China will experience rapid growth. The market for lab equipment and supplies will be driven by factors such as continued demand from the pharmaceutical industry, stable demand in the North American public sector, and demand for new automated hybrid platforms.

According to the Coherent Market Insights the Laboratory Equipment Market Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026

Pharmaceutical companies account for 38% of total demand for lab equipment and supplies, and they are excited about new hybrid technologies such as UHPL, HILIC, SFC, LC-MS, LC-NMR, and LC-FTIR. However, the financial crisis and high acquisition costs slowed the rate of advanced technology and automation adoption.

Laboratory equipment is essential in healthcare, medical, and pharmaceutical research studies. These pieces of equipment are becoming increasingly smaller as new technologies eliminate components such as a series of pumps and valves used to store samples. Recent advancements in fluidic components are capable of integrating multiple laboratory functions into a single chip, requiring fewer samples.

Government and private research organisations are collaborating on research and development activities to diagnose and treat various diseases around the world using innovative technologies such as specialty instruments. For example, Cancer Research UK spent $583 million on cancer research in 2016 to develop new treatments and improve existing ones.

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