The global laboratory equipment services market, in terms of value, is projected to reach USD 11.51 billion by 2021 from USD 6.50 billion in 2016, at a CAGR of 10.0% during the forecast period. The laboratory equipment services market is segmented based on service type, equipment type, service contract, service provider, end user, and region.
Growth in this market is mainly driven by the increasing research in the pharmaceutical and biotechnology industries and the growing need for the timely and effective diagnosis of diseases. Furthermore, developing markets such as India and China and the increasing number of asset management companies provides significant growth opportunities for the laboratory equipment services market. On the other hand, factors such the increasing focus to cut costs among healthcare providers and pharmaceutical companies, and the high cost of equipment service contracts may restrain market growth.
The laboratory equipment services market, by service type, includes repair and maintenance, calibration, validation, and other services (procurement, cleaning, and testing). The repair and maintenance segment is expected to provide strong growth opportunities for market players in the forecast period.
Based on end user, the market is segmented into clinical and diagnostic laboratories, pharmaceutical and biotechnology companies, and academic and research institutions. The clinical and diagnostic laboratories segment is expected to dominate the market in 2016 and grow at the highest CAGR during the forecast period.
Asia is expected to register the highest growth in the laboratory equipment services market, by region. This is due to the increasing focus of pharmaceutical and biotechnology industries on developing Asian countries for conducting clinical trials, which is in turn attributed to the cost-advantages in Asian countries and the presence of a skilled workforce.
- Equipment-manufacturing Companies
- Pharmaceutical and Biotechnology Companies
- Healthcare Institutions (Hospitals and Clinics)
- Research Institutes
- Laboratory Equipment Insurance Providers
- Market Research and Consulting Firm
- Agilent Technologies
- Danaher Corporation
- Eppendorf AG
- Hettich Instruments, LP
- Hitachi High-Technologies Corporation
- Merck Millipore
- Mindray Medical International Limited
- Pace Analytical Services, Inc.
- Perkinelmer, Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Laboratory Equipment Services Market, By Regulatory
7 Laboratory Equipment Services Market, By Service Type
8 Laboratory Equipment Services Market, By Equipment Type
9 Laboratory Equipment Services Market, By Service Contract
10 Laboratory Equipment Services Market, By Service Provider
11 Laboratory Equipment Services Market, By End User
12 Laboratory Equipment Services Market, By Region
13 Competitive Landscape
14 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/59wqgm/laboratory
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-laboratory-equipment-services-market-worth-1151-billion-by-2021---developing-markets-are-providing-significant-growth-opportunities---research-and-markets-300337864.html
SOURCE Research and Markets