New York, NY, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Laboratory Equipment Services Market by Service Types (Validation, Repair & Maintenance, Calibration, and Other Services), by Equipment (General Equipment, Support Equipment, Specialty Equipment, Analytical Equipment, and Others), by Service Contract (Customized and Standardized), by Service Provider (Original Equipment Manufacturers, Third-Party Service Agencies, and Others), and by End-User (Academic Institutes, Clinical & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global laboratory equipment services market was valued at approximately USD 7.3 billion in 2017 and is expected to generate revenue of around USD 14.7 billion by end of 2024, growing at a CAGR of around 10.4% between 2018 and 2024.
Growing research & development in both public and private sector of pharmaceutical and biotechnology industries along with the increasing number of asset management companies is estimated to accelerate the growth of laboratory equipment services market over the estimated time.
Browse through 88 Tables & 39 Figures spread over 110 Pages and in-depth TOC on “Global Laboratory Equipment Services Market: By Type, Size, Share, Services, Growth, Analysis and Forecast, 2017 – 2024”.
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Growing geriatric population and invasion of chronic diseases are the prominent factors driving the demand of laboratory equipment services market. Moreover, increasing demand for timely and effective diagnosis of the disease is uplifting the growth of laboratory equipment services market. However, increasing pressure among the healthcare providers to reduce the cost of treatment, the high cost of contracts for servicing the equipment along with the high cost of raw materials are acting as hurdles for laboratory equipment services market and may affect its growth in long term. Nonetheless, significant investment by the government in laboratory equipment services to provided more advanced & improved version of equipment across the globe coupled with the growing use of the laboratory equipment by the educational institutes is likely to disclose the new avenues for the market.
The global laboratory equipment services market is divided into its service types, equipment, service contract, service provider, and end-user. On the basis of the service types, the market is divided into validation, repair & maintenance, calibration, and other services.
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Based on equipment, the laboratory equipment services market is categorized into general equipment, support equipment, specialty equipment, analytical equipment, and others.
By service contract, the laboratory equipment services market is bifurcated into customized and standardized.
Based on the service provider, the laboratory equipment services market is categorized into original equipment manufacturers, third-party service agencies, and others.
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On the basis of the end user, the laboratory equipment services market is segregated as academic institutes, clinical & diagnostic laboratories, pharmaceutical & biotechnology companies, and others.
North America is anticipated to be followed by Europe and is expected to show significant growth in the near future. The growth of the laboratory equipment services market in this region is mainly driven by growing research in the pharmaceutical and biotechnology industries.
Browse the full "Laboratory Equipment Services Market by Service Types (Validation, Repair & Maintenance, Calibration, and Other Services), by Equipment (General Equipment, Support Equipment, Specialty Equipment, Analytical Equipment, and Others), by Service Contract (Customized and Standardized), by Service Provider (Original Equipment Manufacturers, Third-Party Service Agencies, and Others), and by End-User (Academic Institutes, Clinical & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/laboratory-equipment-services-market
Asia Pacific is expected to accelerate with a prominent CAGR over the near future. Developing and developed countries of Asia such as India, China, and Japan is expected to show a significant growth in the laboratory equipment services market. Growth in Asia Pacific market is supported by the upsurge need of prominent diagnosis equipment for a large patient pool.
The Middle East & Africa region is anticipated to register low to moderate growth rate due to low per capita income which results in the lack of accessibility to the laboratory equipment services. Latin America is another prominent region witnessing the significant growth in the laboratory equipment services market.
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Some of the key players in laboratory equipment services market include Thermo Fisher Scientific Inc., Waters Corporation, Agilent Technologies, Danaher Corporation, LP, Merck Millipore, Pace Analytical Services, Inc., Hettich Instruments, Mindray Medical International Limited, Eppendorf AG, and others.
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This report segments the global laboratory equipment services market as follows:
Global Laboratory Equipment Services Market: By Service Types
- Validation
- Repair & Maintenance
- Calibration
- Other Services
Global Laboratory Equipment Services Market: By Service Provider
- Original Equipment Manufacturers
- Third-Party Service Agencies
- Others
Global Laboratory Equipment Services Market: By Service Contract
- Customized
- Standardized
Global Laboratory Equipment Services Market: By Equipment
- General Equipment
- Support Equipment
- Specialty Equipment
- Analytical Equipment
- Others
Global Laboratory Equipment Services Market: By End User
- Academic Institutes
- Clinical & Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Others
Global Laboratory Equipment Services Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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