Lab Consumables Market

The global lab consumables market is projected to reach USD 20.51 billion by 2029 from USD 14.41 billion in 2024, at a CAGR of 7.3% from 2024 to 2029. The growth in research and development investments, increasing focus on drug discovery and development, increasing adoption of lab automation and growing technological advancements in laboratories. These key factors are encouraging the growth of lab consumables market globally.

The lab consumables market exhibits moderate competitiveness, featuring both established companies and emerging competitors for the same market share. As of 2023, the key player operating in the global lab consumables market are Merck KGaA (Germany), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Eppendorf SE (Germany), Corning Incorporated (US), Greiner Bio-One International GmbH (Austria), Abbott Laboratories (US), Bio-Rad Laboratories Inc. (US), Agilent Technologies Inc. (US), Qiagen (Germany), Waters Corporation (US), Bruker Corporation (US) and Sysmex Corporation (Japan).

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In the past four years, top players in this market have employed key strategies such as product and service launches, making agreements, and undertaking expansions. In 2023, a major share of the lab consumables market was held by Merck KGaA (Germany), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Corning Incorporated (US) and Greiner Bio-One International GmbH (Austria).

MERCK KGAA (GERMANY)

Merck is one of the leading technology and manufacturing product-based companies. The company develops and manufactures lab consumable solutions. The company also offers instruments, reagents, and maintenance services. Merck has a strong global presence in major markets such as the Asia Pacific, Europe, North America, Latin America, and Africa. The company focuses on strengthening its market share and expanding its revenue base in the lab consumables segment by expanding its facility centers globally. Merck is also involved in investments to enhance its R&D capabilities and increase public awareness of its lab consumables products across the world’s major markets.

DANAHER CORPORATION (US)

Danaher Corporation holds a significant share in the global lab consumables market. The company offers an extensive range of lab consumables for diagnostics. The company focuses primarily on acquisitions and partnerships to maintain its market position and ensure future growth. Danaher also emphasizes R&D to provide innovative products and maintain its competitive position. The company’s efforts to strengthen its product portfolio, expand its geographic reach, and increase brand visibility are expected to drive its growth in the lab consumables market.

THERMO FISHER SCIENTIFIC INC. (US)

Thermo Fisher is a global innovation company focusing on innovation and product launches in lab consumables to provide advanced solutions. The company is a leading life science industry player with a strong market presence in over 80 countries. The company’s Fisher Scientific brand offers a broad range of lab consumables. Thermo Fisher primarily pursues product innovation to sustain its position in the global lab consumables market. The company mainly depends on the US for revenue generation; in FY 2023, around 47.6% of the total revenue came from the US.

Related Reports:

Lab Consumables Market by Type (Microplate, Pipette & Tip, Tube, Filter, Vial, Gloves), Application (Research, Diagnostic, Industrial manufacturing, Forensic, Material, Environmental), End User (Hospital, Pharma, Biotech, F&B) - Global Forecast to 2029

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