The global laboratory equipment services market is poised for significant growth, driven by factors such as the increasing adoption of advanced laboratory technologies, outsourcing trends, and rising demand for specialized maintenance services. The market is expected to reach USD 22.8 billion by 2031, growing at a CAGR of 8.4% during the forecast period.
Labcorp, a leading global laboratory services provider, has announced its plans to acquire certain assets of Invitae, a medical genetics company, through a bankruptcy auction process. The proposed deal is expected to significantly enhance Labcorp’s specialty testing capabilities, particularly in the areas of oncology and rare diseases. The transaction is anticipated to generate approximately $400 million in annual revenue for Labcorp upon completion, which is expected in the third quarter of 2024.
