Trends in the development of the laboratory equipment market
What does the future hold for the domestic market of laboratory equipment?
The Russian laboratory equipment market has undergone significant transformations over the past five years. While the 2020-2021 period was influenced by the waves of the coronavirus pandemic, the 2022-2023 period saw geopolitical factors come to the fore. This report will consider the current trends of this market.
Current trends and outlook for the laboratory equipment market
Data Bridge Market Research forecasts that the global laboratory equipment market will reach $64.5 billion by 2028, representing a CAGR of 7.7%. This represents a significant increase from 2020, when the market reached $35.7 billion. One of the key drivers behind this growth is the surge in investment activity during and after the coronavirus pandemic.
One of the most significant trends in the global and domestic laboratory equipment market is the digitalization and automation of processes. This is driven by a clear practical rationale: digital technology is more accurate, efficient and productive. It enables laboratories to streamline their operations, reducing the time spent on routine tasks, setting up equipment and collecting results. This ultimately enhances the overall efficiency of the laboratory.
The modernization of the healthcare system is a significant driver of growth in the Russian laboratory equipment market. In 2024 alone, over 2,400 primary healthcare facilities are scheduled for construction or reconstruction. The state programme "Healthcare Development" is set to invest RUB 1.3 trillion in 2024, with a portion earmarked for laboratory construction and refurbishment.
It is worth noting that in 2022, a number of large consumers of laboratory equipment (government and scientific institutions, pharmaceutical companies, healthcare institutions, oil and gas companies and the food industry) were required to identify alternative solutions for the purchase of new equipment and for the ongoing operation and repair of existing equipment. Approximately half of the consumers took the opportunity to purchase equipment, reagents and spare parts through parallel imports, despite the increased delivery time and prices. Another third was able to find alternatives among Indian and Chinese products, while a further 20% of consumers opted for domestic products. In general, the situation appears to be manageable and foreseeable, but there is still a demand for certain products, including analyzers, chromatographs, detectors, spectrometers and high-purity reagents. This equipment is required by industries such as healthcare, food, chemicals and oil and gas. The need to meet market demands immediately provides an opportunity for foreign competitors.
Another promising avenue of collaboration is the combination of efforts between Russian and foreign companies engaged in the production of laboratory equipment. Domestic market players have a strong scientific and engineering school, which means they are interested in obtaining up-to-date technological and production solutions. These, together with government support measures (grants, subsidies, soft loans), will help speed up the process of developing their own analogues. One option is to create joint R&D centers. In these, young and promising specialists can gain valuable competencies from leading international experts and thus fulfil themselves by working with the most advanced solutions and technologies.
Participating at Analitika Expo 2025 provides an invaluable opportunity for industry players to establish themselves as key players in their field.
The growing demand from domestic companies for laboratory equipment provides new market entrants with an opportunity to gain a foothold in segments with minimal or no competition in the Russian market. However, this requires a significant investment in market research and a thorough understanding of the needs of potential customers, as well as a well-defined and compelling positioning strategy.
Analitika Expo, represents a significant opportunity to engage with relevant businesses. The event's significance for the industry is underscored by the considerable interest it has generated among the target audience. In 2024, it attracted over 5,700 specialists from 68 regions across Russia and 19 countries, representing a diverse range of industries, including pharmaceuticals, medicine, chemicals, oil and gas, food production, and biotechnology. It is notable that 92% of visitors were involved in the decision-making process regarding the purchase of goods and services, while 77% of participants identified potential new partners at the event. These figures illustrate the effectiveness of the Analitika Expo exhibition as a business platform.
