Market Forecast By Product Type (Autoclaves, Incubators, Centrifuges, Spectrometers, Sonicators, Scopes, Others), By Application (Genetic Testing, Endocrinology, Hematology, Microbiology, Biochemistry, Others), By End-users (Diagnostic Laboratories, Hospitals and Clinics, Others) And Competitive Landscape
Product Code: ETC023084 | Publication Date: Aug 2023 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Laboratory Equipment Market registered a growth of 2.61% in value shipments in 2022 as compared to 2021 and an increase of 6.52% CAGR in 2022 throughout 2017. In Laboratory Equipment Market India is becoming less competitive as the HHI index in 2022 was 1082 while in 2017 it was 1027. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in the Laboratory Equipment Market.
The India laboratory equipment market is expected to expand at a CAGR of 5.6% during the forecast period 2024-2030. Laboratory equipment is instruments that are used by scientists and medical professionals to conduct experiments, analyze samples, and measure various parameters in the fields of chemistry, biology, physics, diagnostics and pharmacology among others. The rise in R&D activities along with government initiatives encouraging investments into healthcare infrastructure coupled with technological advancements will drive the demand for laboratory equipment in India over the coming years.
• Increasing focus on R&D activities: Several leading industry players operating in India have been focusing on research & development activities aimed towards developing innovative products as well as improving existing technologies which require sophisticated lab testing solutions thus driving the growth of this market.
• Growing demand from the pharmaceutical sector: The rising population across urban areas has led to an increased usage for pharmaceutical products thus creating a strong demand for laboratory equipment from pharmaceutical manufacturers across India as they require them to test their drug formulations amid stringent regulatory standards set by Drug Controller General Of India (DCGI). This factor is expected to further boost growth prospects for vendors operating in this space over the next few years.
High cost associated with laboratory equipment: The high initial investment required for installation & maintenance of different types of laboratory equipment often acts as a major hindrance restraining potential buyers from purchasing these items due to their expensive nature especially small-scale laboratories or start-ups who cannot afford such costs initially will be greatly affected by this resulting lesser sales opportunities within their respective regions consequently slowing down growth rate over time.
Adoption Of Automated Equipment: There has been a growing trend among Indian labs towards adopting automated systems to reduce manual labour while increasing overall efficiency & accuracy levels thereby allowing better analysis results which would otherwise not be achievable through traditional methods hence fuelling upsurge within the automation segment eventually propelling entire marketplace ahead significantly during the forthcoming timespan
Some key players present in the market include Thermo Fisher Scientific Inc., Sartorius AG., Merck KGaA, Agilent Technologies Inc., Danaher Corporation, Illumina Inc., Biomerieux SA, Shimadzu Corporation, PerkinElmer Inc., Analytik Jena AG etc
Major players operating within the India Ball Bearings Market include NSK Ltd., SKF Group, Schaeffler AG, NTN Corporation
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Laboratory Equipment Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Laboratory Equipment Market Revenues & Volume, 2020 & 2030F |
3.3 India Laboratory Equipment Market - Industry Life Cycle |
3.4 India Laboratory Equipment Market - Porter's Five Forces |
3.5 India Laboratory Equipment Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.6 India Laboratory Equipment Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.7 India Laboratory Equipment Market Revenues & Volume Share, By End-users, 2020 & 2030F |
4 India Laboratory Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Laboratory Equipment Market Trends |
6 India Laboratory Equipment Market, By Types |
6.1 India Laboratory Equipment Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 India Laboratory Equipment Market Revenues & Volume, By Product Type, 2020 & 2030F |
6.1.3 India Laboratory Equipment Market Revenues & Volume, By Autoclaves, 2020 & 2030F |
6.1.4 India Laboratory Equipment Market Revenues & Volume, By Incubators, 2020 & 2030F |
6.1.5 India Laboratory Equipment Market Revenues & Volume, By Centrifuges, 2020 & 2030F |
6.1.6 India Laboratory Equipment Market Revenues & Volume, By Spectrometers, 2020 & 2030F |
6.1.7 India Laboratory Equipment Market Revenues & Volume, By Sonicators, 2020 & 2030F |
6.1.8 India Laboratory Equipment Market Revenues & Volume, By Scopes, 2020 & 2030F |
6.2 India Laboratory Equipment Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Laboratory Equipment Market Revenues & Volume, By Genetic Testing, 2020 & 2030F |
6.2.3 India Laboratory Equipment Market Revenues & Volume, By Endocrinology, 2020 & 2030F |
6.2.4 India Laboratory Equipment Market Revenues & Volume, By Hematology, 2020 & 2030F |
6.2.5 India Laboratory Equipment Market Revenues & Volume, By Microbiology, 2020 & 2030F |
6.2.6 India Laboratory Equipment Market Revenues & Volume, By Biochemistry, 2020 & 2030F |
6.2.7 India Laboratory Equipment Market Revenues & Volume, By Others, 2020 & 2030F |
6.3 India Laboratory Equipment Market, By End-users |
6.3.1 Overview and Analysis |
6.3.2 India Laboratory Equipment Market Revenues & Volume, By Diagnostic Laboratories, 2020 & 2030F |
6.3.3 India Laboratory Equipment Market Revenues & Volume, By Hospitals and Clinics, 2020 & 2030F |
6.3.4 India Laboratory Equipment Market Revenues & Volume, By Others, 2020 & 2030F |
7 India Laboratory Equipment Market Import-Export Trade Statistics |
7.1 India Laboratory Equipment Market Export to Major Countries |
7.2 India Laboratory Equipment Market Imports from Major Countries |
8 India Laboratory Equipment Market Key Performance Indicators |
9 India Laboratory Equipment Market - Opportunity Assessment |
9.1 India Laboratory Equipment Market Opportunity Assessment, By Product Type, 2020 & 2030F |
9.2 India Laboratory Equipment Market Opportunity Assessment, By Application, 2020 & 2030F |
9.3 India Laboratory Equipment Market Opportunity Assessment, By End-users, 2020 & 2030F |
10 India Laboratory Equipment Market - Competitive Landscape |
10.1 India Laboratory Equipment Market Revenue Share, By Companies, 2024 |
10.2 India Laboratory Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |