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The Worldwide Lab Consumables Industry is Projected to Reach $17.6 Billion by 2027 - ResearchAndMarkets.com

The "Lab Consumables: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Lab Consumables estimated at US$12.6 Billion in the year 2020, is projected to reach a revised size of US$17.6 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027.

Pharmaceuticals, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$9.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Research Organizations & Institutes segment is readjusted to a revised 4.5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3.4 Billion, While China is Forecast to Grow at 7.9% CAGR

The Lab Consumables market in the U.S. is estimated at US$3.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2027 trailing a CAGR of 7.9% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2027.

Other End-Uses Segment to Record 4% CAGR

In the global Other End-Uses segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Billion in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.3% CAGR through the analysis period.

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For more information about this report visit https://www.researchandmarkets.com/r/8w6ubd

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