The global laboratory consumables market, valued at US$ 191.2 Billion in 2022, is poised for substantial growth, reaching US$ 301.2 Billion by 2031, with a projected compound annual growth rate (CAGR) of 5.1% during the forecast period. This growth is fueled by a confluence of factors, including the rising demand for accurate and dependable results in diagnostic and research applications, the increasing adoption of personalized medicine, and the introduction of advanced laboratory consumables by market players.
Laboratory consumables encompass a diverse range of disposable items used in various lab settings, such as research facilities, diagnostic centers, and clinical labs. These single-use or limited-use items are essential for maintaining accuracy, preventing contamination, and ensuring sterility. The key categories include glassware (petri dishes, test tubes, beakers), plasticware (pipettes, tubes, flasks, plates), syringe filters, membranes, chromatography columns, filters, and chemicals, reagents, enzymes, and antibodies.
The market is experiencing a surge in demand due to the increasing need for precise and reliable outcomes in research and diagnostics. This is especially true in the pharmaceutical and biotechnology sectors, where rigorous testing and analysis are crucial for developing new drugs and treatments. The rise of personalized medicine further amplifies the need for lab consumables, as they are integral to various diagnostic tests and treatments tailored to individual patients.
The introduction of innovative and technologically advanced laboratory consumables is another major driver of market growth. For example, BYK-Gardner USA launched the color2view spectrophotometer in 2022, revolutionizing color measurement in diverse applications. Similarly, Eppendorf introduced the Centrifuge 5910 Ri in 2021, an efficient model designed to enhance laboratory workflows. These innovations demonstrate the ongoing commitment to enhancing laboratory efficiency and accuracy.
North America currently dominates the laboratory consumables market and is expected to maintain its leading position during the forecast period. This dominance is attributed to several factors, including continuous innovation, robust development in the biotechnology and pharmaceutical industries, substantial investments in R&D, particularly in life sciences, healthcare, and clinical research, and the growing incidence of chronic diseases, leading to increased diagnostic testing and research. For instance, Canada’s 2021 budget allocated $35 million to diabetes initiatives, encompassing research, surveillance, prevention, and the development of a national framework for diabetes management.
Key players in the global laboratory consumables market include Abbott Laboratories, Agilent Technologies, Borosil Limited, Corning Incorporated, Danaher Corporation, EKF Diagnostics, Eppendorf AG, F.Hoffmann-La Roche AG, Haier Biomedical Co., Ltd, Horiba Instruments, INTEGRA Biosciences, Medline Scientific Limited, Merck KGaA, PerkinElmer, Inc., Sartorius Group, and Thermo Fisher Scientific, Inc. These companies are actively involved in developing and introducing innovative consumables to meet the evolving needs of the market.
Recent developments in the laboratory consumables industry highlight a growing emphasis on sustainability. In December 2023, Neste Oyj, a Finnish oil refining and marketing company, partnered with Eppendorf, a German laboratory equipment manufacturer, to create Eppendorf Consumables BioBased, a new line of renewable plastic lab consumables. These consumables are made from Neste RE, a feedstock derived from renewable sources like used cooking oil, offering a more sustainable alternative to traditional fossil fuel-based products. This partnership signifies a significant step towards a more eco-friendly future for the life science industry. In April 2024, Eppendorf introduced BioBased PCR plates, further emphasizing sustainability. These plates, comprising bio-based polymers, cater to the increasing demand for environmentally friendly solutions in laboratories.
The laboratory consumables market is expected to continue its growth trajectory, driven by factors such as the expanding research and development sector, the adoption of personalized medicine, and the increasing focus on sustainability. The industry’s commitment to innovation and sustainability ensures that laboratories will have access to advanced, high-quality consumables that meet the demands of modern research and diagnostics.
