Laboratory equipment market trends until 2025
The global market for laboratory equipment is growing steadily. Analysts expect the industry to grow by an average of 4.1% between 2020 and 2025
The positive trend in the development of the industry is mainly due to the transformation of the companies’ businesses in the context of the coronavirus pandemic and the associated increased demand for the renovation of laboratories.
The growth of the laboratory equipment market is also driven by the increasing need for product standardization and certification. In particular, an increasing number of in-house laboratories appear at Russian enterprises, which asses the quality of raw materials and do in-process control. However, there are no fewer laboratories opening that specialize in independent examination and certification. According to experts, the annual growth in the number of both types of laboratories is about 10%.
One of the trends in the development of the industry is a shift in focus on the part of customers who select laboratory equipment. Russian specialists from scientific and industrial laboratories representing various industries, as well as representatives of research and healthcare organizations have come to pay more attention to the quality-to-price ratio of the goods offered. The manufacturer’s brand has grown much less important for them in selecting analytical equipment.
Over the recent years, there has also been a tightening of governmental requirements for certification and technical regulations for laboratory and analytical equipment. Today, almost all equipment used in Russian laboratories must undergo an accreditation procedure. Moreover, on 1 September 2021, the order of the Russian Ministry of Healthcare “On Approval of the Rules for Conducting Laboratory Research” comes into force. According to this document, medical institutions are required to follow the new rules for conducting laboratory research, which include instructions for laboratory workflow management, staff regulations and standards of laboratory facilities.
Importantly, government initiatives are not only tightening requirements, but also driving demand for laboratory and analytical equipment. This is due to the implementation of such national projects as “Clean Water”, “Healthcare” and “Science and Universities”, as well as the Roadmap for the Development of the Petrochemical Industry Until 2025.
Moreover, in mid-June 2021, the Government of the Russian Federation decided to allocate almost 6 billion rubles for the modernization of more than 80 laboratories in various regional medical institutions. The stated funds should be used to acquire advanced laboratory equipment and instrumentation. The renovation of laboratories, according to Prime Minister Mikhail Mishustin, is critical in creating a system that will protect people from potential risks of infectious diseases and identify new and rare infections.
Nevertheless, analysts note that at the moment a significant portion of orders for laboratory equipment comes not only from the medical, but also from the oil and gas industry.
Therefore, the market for laboratory equipment is experiencing a stable growth against the backdrop of the coronavirus pandemic and an increase in demand for standardization and certification of certain products. What is increasingly important for the clients of companies engaged in the production and supply of laboratory equipment and chemical reagents is the ratio of the price and quality of the goods offered. The local industry also demonstrates a tightening of requirements for certification of analytical equipment on the part of the government. At the same time, however, the government is allocating funds to equip regional laboratories and implement federal projects that help increase demand for laboratory equipment and reagents.
To learn more about the trends in the development of the laboratory equipment market, as well as see new products of the industry, you are welcome to visit the 20th Anniversary International Exhibition of Laboratory Equipment and Chemical Reagents Analitika Expo 2022. The exhibition will take place on 19–22 April 2022 in Moscow, Crocus Expo, Pavilion 3, Hall 13.
Book the best place for your booth at Analitika Expo 2022!
Sources: tass.ru, zdrav.expert.GET YOUR TICKET