Emerging Trends Shaping the Future of Lab Equipment Procurement
The global lab equipment category is anticipated to witness growth at a CAGR of 7.62% from 2023 to 2030. In 2022, the North America region accounted for 38% of the market share followed by Asia-Pacific and Europe. Some of the major factors propelling the industry's growth in the Asia Pacific region include the growing number of clinical research organizations (CROs) and life science research & development activities, along with the growing presence of prominent market participants in developingrising nations like India and China. The region is well known for being among the first to adopt automated systems, advanced diagnostic platforms, and molecular diagnostic techniques, among other cutting-edge laboratory technologies. In terms of product segmentation, general laboratory equipment holds the largest revenue share of 31.07%, dominating the category. The segment is anticipated to maintain its dominance over the course of the projected timeframe as well. A wide ran...