Market Insights
The laboratory equipment services market was estimated at USD 13.76 billion in 2022 and is likely to grow at a CAGR of 13.19% during 2023-2028 to reach USD 28.95 billion in 2028.
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Market Dynamics
Introduction
Laboratory equipment services include laboratory repair and maintenance, validation, and calibration, which aid in optimizing laboratory operations, minimizing downtime, and improving lab production and testing outcomes.
Equipment servicing, maintenance services, user training, installation and modification, and validation and calibration are the most widely known laboratory equipment services.
Market Drivers
The UK government has allocated USD 131.15 million to upgrade its research infrastructure and create new opportunities for scientific breakthroughs in May 2023. This funding will support scientists and researchers, promote scientific research initiatives, and foster market growth. The government's commitment to these initiatives is expected to boost demand for research in the UK.
The growth of the biotechnology and pharmaceutical industries is driving market growth, resulting in a higher demand for advanced laboratory equipment for research, development, and manufacturing processes. Different types of lab equipment are used depending on the lab's purpose.
Technological advancements in laboratory equipment are expected to drive growth in the coming years. Automation technologies like robotics and advanced software systems are being incorporated to improve workflows and efficiency. BYK-Gardner USA recently launched the color2 View Benchtop Spectrophotometer, a combination of a fluorimeter and spectrophotometer, which offers new perspectives for managing color quality and ensuring long-term color stability.
INTEGRA Biosciences AG and Eppendorf have both introduced advanced tools to enhance laboratory efficiency. In February 2022, INTEGRA Biosciences AG introduced the ASSIST PLUS pipetting robot, automating tasks like sample normalization and serial dilutions. In April 2021, Eppendorf introduced the multipurpose Centrifuge 5910 Ri, simplifying centrifugation steps.

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Key Players
The following are the key players in the laboratory equipment services market:
Note: The above list does not necessarily include all the top players in the market.
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Segment Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Equipment Type Analysis
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Analytical Equipment, General Equipment, Specialty Equipment, and Support Equipment
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Analytical equipment segment is estimated to account for the largest share of the market during the forecast period.
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End-User Type Analysis
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Pharmaceutical & Biotechnology Companies, Clinical & Diagnostic Laboratories, and Academic & Research Institutions
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Pharmaceutical & biotechnology companies are estimated to account for the largest share of the market during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific is expected to be the leading region in the market during the forecast period.
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By Equipment Type
"Analytical equipment segment is estimated to account for the largest share"
Based on the equipment type, the market is segmented as analytical, general, specialty, and support. The analytical equipment segment is estimated to account for the largest share of the market during the forecast period. Analytical equipment is extremely delicate and expensive, requiring frequent servicing. Furthermore, the increasing volume of compounds that need to be tested for the presence of impurities is expected to boost the demand for laboratory equipment services for analytical equipment.
By End-User Type
"Pharmaceutical & biotechnology companies are estimated to account for the largest share"
Based on the end-user type, the market is segmented as pharmaceutical & biotechnology companies, clinical & diagnostic laboratories, and academic & research institutions. Pharmaceutical & biotechnology companies are estimated to account for the largest share of the market during the forecast period. The growing adoption of lab automation techniques by pharma & biotech companies is expected to increase the demand for maintenance services, as any malfunctions can potentially halt automated processes and result in significant losses for laboratories. As a result of these factors, spending on the procurement of laboratory equipment for R&D in life sciences has increased in recent years, which is expected to drive the market for a variety of services such as preventive and corrective maintenance.
Regional Analysis
"Asia-Pacific is expected to be the leading region in the market during the forecast period"
In terms of regions, Asia-Pacific is expected to be the leading region in the market during the forecast period. The growth of the region’s market is owing to the growing prevalence of chronic and acute diseases such as cancer, HIV, and diabetes in the region. The rising focus of giant pharmaceutical companies towards outsourcing their research to the Asian CROs is another factor contributing to the growth of the market. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.

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Research Methodology
- This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional laboratory equipment services market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Segmentation
This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The laboratory equipment services market is segmented into the following categories:
By Equipment Type
- Analytical Equipment
- General Equipment
- Specialty Equipment
- Support Equipment
By Type
- Repair & Maintenance Services
- Calibration Services
- Validation Services
- Other Services
By Service Provider Type
- Original Equipment Manufacturers
- Third-Party Service Providers
- Other Service Providers
By Contract Type
- Standard Service Contracts
- Customized Service Contracts
By End-User Type
- Pharmaceutical & Biotechnology Companies
- Clinical & Diagnostic Laboratories
- Academic & Research Institutions
By Region
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
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Customization Option
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research:
Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.