India Laboratory Supplies Market (2024-2030) Outlook | Analysis, Growth, Share, Value, Forecast, Size, Companies, Industry, Trends & Revenue

Market Forecast By Equipment Type (Analytical Equipment, General Equipment, Specialty Equipment, Support Equipment), By Type (Repair And Maintenance, Calibration, Validation, Other Services), By Service Providers (OEMS, Third-party Service Providers, Other Service Providers), By Contract Type (Standard Service Contract, Customized Service Contract) And Competitive Landscape

Product Code: ETC365844	Publication Date: Aug 2023	Updated Date: May 2024	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 75	No. of Figures: 35	No. of Tables: 20

India Laboratory Supplies Market Competition 2023

India Laboratory Supplies market currently, in 2023, has witnessed an HHI of 1657, Which has decreased slightly as compared to the HHI of 1660 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

India Export Potential Assessment For Laboratory Supplies Market (Values in USD Thousand)

India Laboratory Supplies Market Synopsis

The India laboratory supplies market was valued at approximately USD 3 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 9% during the forecast period. Growing research & development activities, technological advancements in diagnostics kits & reagents along with rising adoption of point-of-care testing devices are likely driving the regional market?s growth. Government initiatives such as the ?Make in India? program have further encouraged domestic production which has resulted in the availability of low-cost diagnostic tests resulting in increased demand for laboratory supplies across hospitals/clinics/diagnostic centers, thereby propelling India lab supplies sector forward.

Market Drivers of the market

The India Laboratory Supplies Market has experienced steady growth due to the expanding pharmaceutical, biotechnology, and research sectors, which require a wide range of laboratory consumables. The increasing number of research and testing laboratories has contributed to market demand for laboratory supplies such as glassware, reagents, plasticware, and other consumables. The emphasis on research and development, along with the growth of the healthcare sector, has further boosted market growth.

Challenges of the Market

One significant challenge is the presence of counterfeit and substandard laboratory supplies in the market. Low-quality products can compromise research results and pose safety risks in laboratory settings. Ensuring product authenticity and establishing quality standards for laboratory supplies will be crucial to maintaining the reputation and reliability of the market. Moreover, the volatility in raw material prices can impact the cost of laboratory supplies. Many laboratory consumables are derived from petroleum-based materials, and fluctuations in oil prices can lead to price variations. Manufacturers and suppliers need to manage these price fluctuations and maintain product affordability for end-users.

Covid-19 Impact on the Market

The COVID-19 pandemic had a significant impact on the Laboratory Supplies Market in India. The initial disruptions in manufacturing and logistics posed challenges to the supply of laboratory consumables and equipment. However, with the pandemic highlighting the importance of testing, diagnostics, and research, the demand for laboratory supplies, including personal protective equipment, testing kits, and disposable consumables, surged. The healthcare and pharmaceutical industries played a crucial role in driving the market`s growth as they expanded their testing capacities and research efforts. Moreover, increased awareness of hygiene and safety protocols across various sectors further sustained the demand for laboratory supplies. The market is likely to witness continued growth as research, testing, and healthcare industries invest in modernizing their infrastructure and capabilities.

Key Players of the Market

Key players in the India Laboratory Supplies Market include Merck KGaA, Thermo Fisher Scientific Inc., and Borosil Glass Works Ltd.

Key Highlights of the Report:

India Laboratory Supplies Market Outlook
Market Size of India Laboratory Supplies Market, 2023
Forecast of India Laboratory Supplies Market, 2030
Historical Data and Forecast of India Laboratory Supplies Revenues & Volume for the Period 2020-2030
India Laboratory Supplies Market Trend Evolution
India Laboratory Supplies Market Drivers and Challenges
India Laboratory Supplies Price Trends
India Laboratory Supplies Porter's Five Forces
India Laboratory Supplies Industry Life Cycle
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Equipment Type for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Analytical Equipment for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By General Equipment for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Specialty Equipment for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Support Equipment for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Type for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Repair And Maintenance for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Calibration for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Validation for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Other Services for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Service Providers for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By OEMS for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Third-party Service Providers for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Other Service Providers for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Contract Type for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Standard Service Contract for the Period 2020-2030
Historical Data and Forecast of India Laboratory Supplies Market Revenues & Volume By Customized Service Contract for the Period 2020-2030
India Laboratory Supplies Import Export Trade Statistics
Market Opportunity Assessment By Equipment Type
Market Opportunity Assessment By Type
Market Opportunity Assessment By Service Providers
Market Opportunity Assessment By Contract Type
India Laboratory Supplies Top Companies Market Share
India Laboratory Supplies Competitive Benchmarking By Technical and Operational Parameters
India Laboratory Supplies Company Profiles
India Laboratory Supplies Key Strategic Recommendations