Lab Supplies Procurement Intelligence: Trends and Insights
The global lab supplies category is anticipated to grow at a CAGR of 7.5% from 2023 to 2030. Growth of the category can be attributed to a rise in life science research and clinical laboratory testing, and growth in financial support and investment for biotechnology and pharmaceutical research & development. The category is anticipated to witness steady growth over the forecasted timeframe due to uninterrupted and ongoing supply of laboratory equipments. Over time, laboratories have evolved into multifunctional research spaces where a wide range of testing procedures and comparison studies are conducted. The market need for laboratory supplies has increased as a result of this. In addition, the field of lab supply research has become increasingly dominant over the past ten years. As a result, academic institutions have expanded their labs, which has further fuelled the category's growth. Technologies that drive the global category include automation, cloud, advanced analytics,...