Market Overview

According to fortune business insights, The global laboratory equipment market size was valued at USD 20.5 billion in 2025. The market is projected to grow from USD 23.28 billion in 2026 to USD 64.43 billion by 2034, exhibiting a CAGR of 13.57% during the forecast period. North America dominated the laboratory equipment market as the leading segment in 2025.

The analysis shows that top companies are investing more in laboratory equipment because of rising R&D investments, rapid technological advancements, and ubiquitous diagnostic testing. For example, according to the National Institutes of Health (NIH), the U.S. has over 50,000 laboratories using advanced laboratory equipment. This trend indicates a strong demand for high-precision instruments for research, diagnostics, and quality control worldwide.

Major Players Profiled in the Market Report:

• Thermo Fisher Scientific Inc. (Massachusetts, U.S.)
• Merck KGaA (Darmstadt, Germany)
• Agilent Technologies, Inc. (California, U.S.)
• Sartorius AG (Göttingen, Germany)
• Bio-Rad Laboratories, Inc. (California, U.S.)
• Bruker Corporation (Massachusetts, U.S.)
• Shimadzu Corporation (Kyoto, Japan)
• Eppendorf SE (Hamburg, Germany)
• MRC Group (Holon, Israel)

Segments

High Demand for Precision Testing to Propel Analytical Equipment Segment Growth

Based on type, the market is divided into analytical equipment, measuring equipment, heating & cooling equipment, and others. The analytical equipment segment holds the largest market share and dominates the market owing to the growing need for accurate chemical and biological analyses in the pharmaceutical, food, and environmental industries, driven by advancements in precision testing and automation.

Rising Research on Infectious Diseases to Drive Microbiology Segment Expansion

By application, the market is categorized into microbiology, biochemistry, endocrinology, and others. The microbiology segment is leading the market as there is high demand for advanced equipment for pathogen identification, antimicrobial resistance detection, and clinical diagnostics, fueled by increasing research on infectious diseases and biotechnology.

Massive R&D Investments to Drive Pharma & Biotech Segment Dominance

Based on end user, the market is segmented into pharmaceutical & biotechnology companies, diagnostic centers, healthcare facilities, and others. The pharmaceutical & biotechnology companies segment holds the largest market share owing to massive R&D investments in new therapies, biological innovations, and precision medicine, which require advanced laboratory equipment to ensure research efficiency and accuracy.