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Laboratory Equipment Services Market by Type (Repair & Maintenance, Calibration, Validation), Contract (Standard, Custom), Equipment (Analytical, Equipment, General, Support), Service Provider (OEM), and End User (Pharmaceutical) - Global Forecast to 2024

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Date: 08-Aug-2019
No. of pages: 135
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“The laboratory equipment services market is projected to grow at a CAGR of 13.4% during the forecast period (2019–2024).”

The laboratory equipment services market is projected to reach USD 17.7 billion by 2024 from USD 9.5 billion in 2019, at a CAGR of 13.4%. Market growth is attributed to the increasing number of research activities in pharmaceutical and biotechnology industries, and the rising investments and government research funding to support biomedical research activities. However, the shift from lab-based diagnosis to home-based/POC testing and the high cost of service contracts are the major factors restraining the growth of this market.

“By end-user, the pharmaceutical & biotechnology companies segment is expected to grow at the highest CAGR during the forecast period.”

Based on the end-user, the laboratory equipment services market has been segmented into pharmaceutical & biotechnology companies, clinical & diagnostic laboratories, and academic & research institutions. Pharmaceutical & biotechnology companies are expected to hold the largest share of the laboratory equipment services market in 2019. The growing adoption of lab automation techniques by pharma & biotech companies is expected to increase the requirement of maintenance services, as any errors in functioning can potentially stop automated processes and result in significant losses for laboratories.

“By contract type, standard service contracts segment to dominate the laboratory equipment services market in 2019”

By contract type, the laboratory equipment services market is segmented into standard service contracts and customized service contracts. In 2018, standard service contracts accounted for the largest share of the laboratory equipment services market. This can be attributed to the higher coverage of maintenance services in standard service contracts.

“APAC is expected to witness the highest growth during the forecast period.”

North America is expected to account for the largest share of the laboratory equipment services market in 2019, followed by Asia Pacific. The large share of the market in North America can majorly be attributed to increasing life science R&D activities, the presence of prominent players, and the rising number of clinical trials. However, the APAC region is expected to witness the highest CAGR during the forecast period. This can primarily be attributed to mostly due to the increasing number of CROs, increasing number of life science R&D activities, rising import of laboratory equipment, and the rising presence of major market players in emerging countries such as India and China.

A breakdown of the primary participants referred to for this report is provided below:


  • By Company Type: Tier 1–55%, Tier 2–25%, and Tier 3–20%

  • By Designation: C-level–43%, Director-level–32%, and Others–25%

  • By Region: North America–38%, Europe–23%, Asia Pacific–29%, Rest of the World–10%


The prominent players in the laboratory equipment services market are Agilent Technologies (US), Waters Corporation (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), Danaher Corporation (US), Eppendorf (Germany), Pace Analytical Services, Inc. (US), Becton, Dickinson, and Company (US), Bio-Rad Laboratories, Inc. (US), and Siemens Healthineers (Germany).

Research Coverage:

The report analyzes the laboratory equipment services market and aims at estimating the market size and future growth potential of the laboratory equipment services and the different segments by type, equipment type, service provider, contract type, and end user. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.

This report provides insights on the following pointers:


  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the laboratory equipment services market

  • Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service launches in the laboratory equipment services market

  • Market Development: Comprehensive information on lucrative emerging regions

  • Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the global laboratory equipment services market

  • Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and services of the leading players in the laboratory equipment services market

Laboratory Equipment Services Market by Type (Repair & Maintenance, Calibration, Validation), Contract (Standard, Custom), Equipment (Analytical, Equipment, General, Support), Service Provider (OEM), and End User (Pharmaceutical) - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Data Validation and Triangulation
2.4 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Market Overview
4.2 North America: Biomedical Equipment Services Market, By Equipment Type, 2018
4.3 Market: Geographic Snapshot

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Increasing Research Activity in the Pharmaceutical and Biotechnology Industries
5.2.1.2 Growing Need for Timely and Effective Diagnosis of Diseases
5.2.1.3 Growing Investment and Government Funding to Support Biomedical Research Activities
5.2.2 Restraints
5.2.2.1 Shift From Lab-Based Diagnosis to Home-Based/Poc Testing
5.2.2.2 High Cost of Service Contracts
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Laboratory Automation
5.2.3.2 Growth in Asset Management Companies
5.2.4 Challenges
5.2.4.1 Limited Scope for Innovation

6 Market, By Equipment Type
6.1 Introduction
6.2 Analytical Equipment
6.2.1 Analytical Equipment are Extremely Fragile and Expensive And, Therefore, Require Frequent Servicing, Which is a Major Factor Driving Market Growth
6.3 General Equipment
6.3.1 High Equipment Cost and Replacement Value Will Aid Market Growth in the Forecast Period
6.4 Specialty Equipment
6.4.1 Timely Servicing, Maintenance, and Upgrading of Specialty Equipment is Crucial for Accurate Research Outcomes—A Key Market Driver
6.5 Support Equipment
6.5.1 Growing Trend of Lab Automation May Limit the use of Support Equipment in the Future, Which May Negatively Affect Market Growth

7 Market, By Type
7.1 Introduction
7.2 Repair and Maintenance Services
7.2.1 Effective Repair & Maintenance Increases Equipment Lifespan, Reduces Overall Service Costs
7.3 Calibration Services
7.3.1 Need for Efficient and Accurate Functioning Ensures Sustained Demand for Calibration Services
7.4 Validation Services
7.4.1 Validation Helps in Complying With Regulations and Guidelines
7.5 Other Services

8 Market, By Service Provider
8.1 Introduction
8.2 Original Equipment Manufacturers
8.2.1 End Users Opt for Services Offered By Original Equipment Manufacturers Owing to the Service Quality and Easy Access to Spare Parts
8.3 Third-Party Service Providers
8.3.1 Third-Party Service Providers Offer Advantages Such as Lower-Cost Services and Multi-Brand Support
8.4 Other Service Providers

9 Market, By Contract Type
9.1 Introduction
9.2 Standard Service Contracts
9.2.1 Standard Contracts Cover a Wide Range of Maintenance Services
9.3 Customized Service Contracts
9.3.1 Specificity of Customized Contracts is Driving Demand, But Higher Cost Affects Customer Preference

10 Market, By End User
10.1 Introduction
10.2 Pharmaceutical & Biotechnology Companies
10.2.1 Growing Adoption of Lab Automation to Increase the Requirement of Maintenance Services, as Errors in Functioning Can Stop Automated Processes in Laboratories
10.3 Clinical & Diagnostic Laboratories
10.3.1 Operational Inefficiency of Lab Equipment and Delayed Repair and Maintenance Can Negatively Impact the Early Diagnosis and Treatment of Diseases
10.4 Academic & Research Institutions
10.4.1 Government Funding to Increase the Affordability of Research Institutes to Purchase Advanced Laboratory Equipment

11 Laboratory Equipment Services Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 Government Initiatives and Strategic Developments By Market Players to Drive Market Growth in the US
11.2.2 Canada
11.2.2.1 Availability of Government Funding for Research Activities and Laboratory Consolidation to Drive Market Growth in Canada
11.3 Asia Pacific
11.3.1 China
11.3.1.1 High Pace of Research and Availability of Funding Have Fueled Market Growth in China
11.3.2 India
11.3.2.1 Government Initiatives Have Strengthened the Life Science Industry in India
11.3.3 Japan
11.3.3.1 Strong Healthcare System in Japan is a Key Component of the Demand for Services
11.3.4 Rest of Asia Pacific
11.4 Europe
11.4.1 Germany
11.4.1.1 Strong Research Infrastructure and Manufacturing Base Support Germany’s Market Dominance
11.4.2 France
11.4.2.1 Government Initiatives to Boost R&D Activities Will Ensure Market Growth in France
11.4.3 UK
11.4.3.1 UK is One of the Major Markets for Lab Equipment Services in Europe
11.4.4 Italy
11.4.4.1 Strong Government Support for Research has Stimulated Market Growth in Italy
11.4.5 Spain
11.4.5.1 High Activity in the Spanish Pharmaceutical Sector Will Drive Demand for Services
11.4.6 Rest of Europe
11.5 Rest of the World

12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis, 2018
12.3 Competitive Scenario
12.4 Competitive Leadership Mapping
12.4.1 Visionary Leaders
12.4.2 Innovators
12.4.3 Dynamic Differentiators
12.4.4 Emerging Companies

13 Company Profiles
(Business Overview, Services Offered, Recent Developments, and MnM View)*
13.1 Agilent Technologies
13.2 Thermo Fisher Scientific, Inc.
13.3 Waters Corporation
13.4 Danaher Corporation
13.5 Eppendorf AG
13.6 PerkinElmer, Inc.
13.7 Pace Analytical Services, LLC.
13.8 Becton, Dickinson and Company
13.9 Bio-Rad Laboratories, Inc.
13.10 Siemens Healthineers

* Business Overview, Services Offered, Recent Developments, and MnM View Might Not be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables

Table 1 Company Drug Pipelines, 2018
Table 2 Top Investors in R&D, 2016 Vs. 2017
Table 3 Laboratory Equipment Services Market, By Equipment Type, 2017–2024 (USD Million)
Table 4 Market for Analytical Equipment, By Region, 2017–2024 (USD Million)
Table 5 Market for General Equipment, By Region, 2014–2021 (USD Million)
Table 6 Market for Specialty Equipment, By Region, 2017–2024 (USD Million)
Table 7 Market for Support Equipment, By Region, 2017–2024 (USD Million)
Table 8 Biomedical Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 9 Repair and Maintenance Services Market, By Region, 2017–2024 (USD Million)
Table 10 Calibration Services Market, By Region, 2017–2024 (USD Million)
Table 11 Validation Services Market, By Region, 2017–2024 (USD Million)
Table 12 Other Services Market, By Region, 2017–2024 (USD Million)
Table 13 Market, By Service Provider, 2017–2024 (USD Million)
Table 14 Market for Original Equipment Manufacturers, By Region, 2017–2024 (USD Million)
Table 15 Laboratory Equipment Services Market for Third-Party Service Providers, By Region, 2017–2024 (USD Million)
Table 16 Market for Other Service Providers, By Region, 2017–2024 (USD Million)
Table 17 Market, By Contract Type, 2017–2024 (USD Million)
Table 18 Standard Laboratory Equipment Service Contracts Market, By Region, 2017–2024 (USD Million)
Table 19 Customized Laboratory Equipment Service Contracts Market, By Region, 2017–2024 (USD Million)
Table 20 Market, By End User, 2017–2024 (USD Million)
Table 21 Biomedical Equipment Services Market for Pharmaceutical & Biotechnology Companies, By Region, 2017–2024 (USD Million)
Table 22 Market for Clinical & Diagnostic Laboratories, By Region, 2017–2024 (USD Million)
Table 23  Market for Academic & Research Institutions, By Region, 2017–2024 (USD Million)
Table 24 Laboratory Equipment Services Market, By Region, 2017–2024 (USD Million)
Table 25 North America: Market, By Country, 2017–2024 (USD Million)
Table 26 North America: Market, By Equipment Type, 2017–2024 (USD Million)
Table 27 North America: Market, By Type, 2017–2024 (USD Million)
Table 28 North America: Market, By Service Provider, 2017–2024 (USD Million)
Table 29 North America: Market, By Contract Type, 2017–2024 (USD Million)
Table 30 North America: Biomedical Equipment Services Market, By End User, 2017–2024 (USD Million)
Table 31 US: Market, By Equipment Type, 2017–2024 (USD Million)
Table 32 US: Laboratory Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 33 US: Market, By Service Provider, 2017–2024 (USD Million)
Table 34 US: Market, By Contract Type, 2017–2024 (USD Million)
Table 35 US: Market, By End User, 2017–2024 (USD Million)
Table 36 Canada: Market, By Equipment Type, 2017–2024 (USD Million)
Table 37 Canada: Biomedical Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 38 Canada: Market, By Service Provider, 2017–2024 (USD Million)
Table 39 Canada: Market, By Contract Type, 2017–2024 (USD Million)
Table 40 Canada: Market, By End User, 2017–2024 (USD Million)
Table 41 APAC: Market, By Country, 2017–2024 (USD Million)
Table 42 APAC: Market, By Equipment Type, 2017–2024 (USD Million)
Table 43 APAC: Laboratory Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 44 APAC: Market, By Service Provider, 2017–2024 (USD Million)
Table 45 APAC: Biomedical Equipment Services Market, By Contract Type, 2017–2024 (USD Million)
Table 46 APAC: Market, By End User, 2017–2024 (USD Million)
Table 47 China: Market, By Equipment Type, 2017–2024 (USD Million)
Table 48 China: Market, By Type, 2017–2024 (USD Million)
Table 49 China: Market, By Service Provider, 2017–2024 (USD Million)
Table 50 China: Biomedical Equipment Services Market, By Contract Type, 2017–2024 (USD Million)
Table 51 China: Market, By End User, 2017–2024 (USD Million)
Table 52 India: Market, By Equipment Type, 2017–2024 (USD Million)
Table 53 India: Laboratory Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 54 India: Market, By Service Provider, 2017–2024 (USD Million)
Table 55 India: Market, By Contract Type, 2017–2024 (USD Million)
Table 56 India: Market, By End User, 2017–2024 (USD Million)
Table 57 Japan: Market, By Equipment Type, 2017–2024 (USD Million)
Table 58 Japan: Market, By Type, 2017–2024 (USD Million)
Table 59 Japan: Market, By Service Provider, 2017–2024 (USD Million)
Table 60 Japan: Biomedical Equipment Services Market, By Contract Type, 2017–2024 (USD Million)
Table 61 Japan: Market, By End User, 2017–2024 (USD Million)
Table 62 RoAPAC: Market, By Equipment Type, 2017–2024 (USD Million)
Table 63 RoAPAC: Market, By Type, 2017–2024 (USD Million)
Table 64 RoAPAC: Market, By Service Provider, 2017–2024 (USD Million)
Table 65 RoAPAC: Market, By Contract Type, 2017–2024 (USD Million)
Table 66 RoAPAC: Laboratory Equipment Services Market, By End User, 2017–2024 (USD Million)
Table 67 Europe: Biomedical Equipment Services Market, By Country, 2017–2024 (USD Million)
Table 68 Europe: Market, By Equipment Type, 2017–2024 (USD Million)
Table 69 Europe: Market, By Type, 2017–2024 (USD Million)
Table 70 Europe: Market, By Service Provider, 2017–2024 (USD Million)
Table 71 Europe: Market, By Contract Type, 2017–2024 (USD Million)
Table 72 Europe: Market, By End User, 2017–2024 (USD Million)
Table 73 Germany: Market, By Equipment Type, 2017–2024 (USD Million)
Table 74 Germany: Laboratory Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 75 Germany: Biomedical Equipment Services Market, By Service Provider, 2017–2024 (USD Million)
Table 76 Germany: Market, By Contract Type, 2017–2024 (USD Million)
Table 77 Germany: Market, By End User, 2017–2024 (USD Million)
Table 78 France: Market, By Equipment Type, 2017–2024 (USD Million)
Table 79 France: Market, By Type, 2017–2024 (USD Million)
Table 80 France: Market, By Service Provider, 2017–2024 (USD Million)
Table 81 France: Market, By Contract Type, 2017–2024 (USD Million)
Table 82 France: Biomedical Equipment Services Market, By End User, 2017–2024 (USD Million)
Table 83 UK: Market, By Equipment Type, 2017–2024 (USD Million)
Table 84 UK: Market, By Type, 2017–2024 (USD Million)
Table 85 UK: Market, By Service Provider, 2017–2024 (USD Million)
Table 86 UK: Market, By Contract Type, 2017–2024 (USD Million)
Table 87 UK: Laboratory Equipment Services Market, By End User, 2017–2024 (USD Million)
Table 88 Italy: Market, By Equipment Type, 2017–2024 (USD Million)
Table 89 Italy: Market, By Type, 2017–2024 (USD Million)
Table 90 Italy: Market, By Service Provider, 2017–2024 (USD Million)
Table 91 Italy: Laboratory Equipment Services Market, By Contract Type, 2017–2024 (USD Million)
Table 92 Italy: Market, By End User, 2017–2024 (USD Million)
Table 93 Spain: Market, By Equipment Type, 2017–2024 (USD Million)
Table 94 Spain: Biomedical Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 95 Spain: Market, By Service Provider, 2017–2024 (USD Million)
Table 96 Spain: Market, By Contract Type, 2017–2024 (USD Million)
Table 97 Spain: Market, By End User, 2017–2024 (USD Million)
Table 98 RoE: Market, By Equipment Type, 2017–2024 (USD Million)
Table 99 RoE: Biomedical Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 100 RoE: Market, By Service Provider, 2017–2024 (USD Million)
Table 101 RoE: Market, By Contract Type, 2017–2024 (USD Million)
Table 102 RoE: Market, By End User, 2017–2024 (USD Million)
Table 103 RoW: Market, By Equipment Type, 2017–2024 (USD Million)
Table 104 RoW: Biomedical Equipment Services Market, By Type, 2017–2024 (USD Million)
Table 105 RoW: Laboratory Equipment Services Market, By Service Provider, 2017–2024 (USD Million)
Table 106 RoW: Market, By Contract Type, 2017–2024 (USD Million)
Table 107 RoW: Market, By End User, 2017–2024 (USD Million)
Table 108 Acquisitions (2015–2019)
Table 109 Expansions (2015–2019)
Table 110 Partnerships (2015–2019)

List of Figures

Figure 1 Laboratory Equipment Services Market: Research Methodology
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Market, By Type, 2019 Vs. 2024
Figure 8 Biomedical Equipment Services Market, By Equipment Type, 2019 Vs. 2024 (USD Billion)
Figure 9 Biomedical Equipment Services Market, By Service Contract, 2019 Vs. 2024 (USD Billion)
Figure 10 Market, By End User, 2019 Vs. 2024 (USD Billion)
Figure 11 Geographical Snapshot of the Market
Figure 12 Increasing Number of Life Science R&D Activities to Drive the Growth of the Market
Figure 13 Analytical Equipment Segment to Account for the Largest Share of the North American Market in 2018
Figure 14 Asia Pacific Market to Grow at the Highest CAGR During the Forecast Period
Figure 15 Biomedical Equipment Services Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Analytical Equipment to Register the Highest Growth Rate in the Market During the Forecast Period
Figure 17 Market, By Type
Figure 18 Market, By Contract Type
Figure 19 Pharmaceutical & Biotechnology Companies to Dominate the Laboratory Equipment Services Market During the Forecast Period
Figure 20 North America: Market Snapshot
Figure 21 Asia Pacific: Market Snapshot
Figure 22 Market Ranking of Key Players, 2018
Figure 23 Biomedical Equipment Services Market (Global) Competitive Leadership Mapping, 2018
Figure 24 Agilent Technologies: Company Snapshot
Figure 25 Thermo Fisher Scientific, Inc.: Company Snapshot
Figure 26 Waters Corporation: Company Snapshot
Figure 27 Danaher Corporation: Company Snapshot
Figure 28 Eppendorf AG: Company Snapshot
Figure 29 PerkinElmer, Inc.: Company Snapshot
Figure 30 Becton, Dickinson and Company: Company Snapshot
Figure 31 Bio-Rad Laboratories, Inc.: Company Snapshot
Figure 32 Siemens AG: Company Snapshot

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