Table of Contents
Cautious Optimism for Continued Recovery
This study provides an analysis of the global laboratory research tools market, segmented by the United States (US), Canada, Europe, Japan, India, China, Brazil, Mexico, and Rest of World (ROW). Product categories analyzed include instruments and equipment, consumables, and chemicals, reagents and kits. The US market is also segmented by end users, including academic, government, biopharmaceutical, industrial, and patient care. Analysis is provided for the time period of 2012–2016.
Global Market for Laboratory Research Tools
Global Market Findings
-The global laboratory research tools market totaled $ billion in 2013, with expectations that the market will reach $ billion by the end of 2014. The market is forecast to grow at a conservative % in 2014.
-As defined, the laboratory research tools market includes end users in the academic, government, biopharmaceutical, industrial, and patient-care sectors. As such, the US and Europe together account for a much greater share of the market compared to the generalized 40/30/30 percent US/Europe/Asia-Pacific and Row split often found in the life science research tools market.
-In 2013, economic uncertainty and federal sequestration measures plagued US labs, while struggling economies thwarted the European market. Going forward, the US market is forecast to conservatively improve from its restrained 2013, while Europe will continue to steadily recover.
-There is cautious optimism in the industry that the situation will improve in 2014, particularly in the US, materializing more fully in the second half of 2014. Loss of work days due to winter in the US in Q1 2014 caused minor growth impacts.
-Beyond 2014, the global market is forecast to improve slightly each year, with growth remaining below %, as the industry adjusts to a new normal of budget savvy end-users.
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