Artificial Intelligence
Laboratory Equipment Market Size Worth USD 85,801 Million by 2030 at 7.40% CAGR – Report by Market Research Future (MRFR)
New York, USA, Sept. 02, 2022 (GLOBE NEWSWIRE) — Laboratory Equipment Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Laboratory Equipment Market Information By Product Types, Applications, End User, And Region – Forecast till 2030“, the market will reach USD 85,801.35 million by 2030, at 7.40% CAGR.
Laboratory Equipment Market Synopsis
Medical laboratories need various supplies to carry out tests and conduct research. These can be found in various labs, including research labs, clinical diagnostic labs, microbiology labs, and teaching labs, where they are used to conduct scientific experiments, conduct research, and perform analyses on various scientific materials. Innovative technologies, such as specialized tools, are being developed by both public and commercial research organizations in the context of research and development operations to diagnose and treat various diseases throughout the world. As a result of developments in biological and chemical research, there has been an increase in the availability of laboratory supplies. According to the sector, there is a growing need for laboratory equipment due to the growing number of clinical laboratory tests and life science research initiatives.
According to estimates, the market for laboratory equipment and disposables will expand significantly over the forecast period due to technological expansions in the field of lab equipment, an increase in the number of clinical diagnostic procedures, and increased investments in private and public healthcare. Favorable insurance policies for lab equipment also contribute to the market’s expansion. Furthermore, the market for laboratory supplies and disposables is growing as a result of an increase in research in the fields of life sciences and biotechnology. Additionally, it is anticipated that buying managers in the pharmaceutical and healthcare sectors would have a higher demand for a consistent supply of essential laboratory equipment in the upcoming years.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 85801.35 Million |
| CAGR | 7.40% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Technical advancement in the laboratory equipment Industry |
| Rising number of research operations in medicines and adoption for accurate and timely illness treatment |
Laboratory Equipment Market Competitive Landscape:
The central players in the laboratory equipment market are:
- Agilent Technologies, Inc. (US)
- BD (US)
- Hoffmann LA-Roche AG (Switzerland)
- PerkinElmer Inc. (US)
- Beckman Coulter, Inc. (US)
- Bio-Rad Laboratories, Inc. (US)
- Bruker (US)
- Eppendorf AG (Germany)
- Shimadzu Corporation (Japan)
- Thermo Fisher Scientific Inc. (US)
- Waters (US)
Market U.S.P. Covered:
Market Drivers:
The vital growth drivers in the laboratory equipment market are the expanding number of pharmaceutical research operations, the rising demand for correct and prompt sickness treatment, and the rising levels of private and public research funding to support scientific research operations. Several tools are needed in laboratories to carry out testing and research. General lab technology is used in research, instruction, clinical labs, quality assurance, R&D, advertising, and other applications. By enabling speedier analysis through laboratory technology, the laboratory can do more daily tests, enhancing its value. This may result in cost reductions for supplies, upkeep, paperwork related to regulations, and general expenses.
There is an increasing demand for laboratory equipment to introduce cutting-edge technologies into the market due to the rise in chronic diseases like chronic respiratory, cardiovascular, and diabetes and the incidence of lifestyle diseases like heart disease, obesity, and atherosclerosis. Favorable insurance policies for lab equipment also contribute to the market’s expansion. Furthermore, the market for laboratory supplies and disposables is growing as a result of an increase in research in the fields of life sciences and biotechnology.
Market Restraints:
The high cost of cutting-edge laboratory equipment and the scarcity of clinical laboratories in some countries restrain market expansion.
Laboratory Equipment Market COVID 19 Analysis
Research on coronaviruses has increased as a result of the COVID-19 pandemic. The need for SARS-CoV-2 testing in clinical laboratories increased as the pandemic spread. Laboratories increased expenditures on pathology equipment due to the increased demand for these testing kits. The introduction of beneficial government programs and the rising awareness of the need for better patient care will support market expansion shortly.
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However, because the main objective of the lockdown was to avoid intimate contact with others, labs conducting pre-pandemic disease research were closed down because there was little need for lab materials. Lab capabilities are expanding along with technological changes. Thanks to new technology, scientists and laboratory technicians may work more correctly and quickly than ever. Artificial intelligence, automation, miniaturization, and smart technology are advancing into the real world and simplifying lab life. The need to provide outcomes rapidly is also growing concurrently. So, laboratories need to be quick and flexible. For laboratory managers, streamlining the purchase procedure is a major strategy for boosting productivity. The lab suppliers are also simplifying the product ordering and selection processes.
Laboratory Equipment Market Segmentation
By Product Type
The market is segmented based on product type into Incubators, Centrifuges, Spectrometers, Scopes, Sonicators, Autoclaves, Others. The incubators segment will lead the overall market in the forecast period.
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By Application
The market is segmented based on application into Biochemistry, Endocrinology, Microbiology, Genetic Testing, Others. The biochemistry segment will lead the overall market in the forecast period.
End-User
The hospital segment will lead the overall market in the forecast period.
Laboratory Equipment Market Regional Insights
However, because the main objective of the lockdown was to avoid intimate contact with others, labs conducting pre-pandemic disease research were closed down because there was little need for lab materials. Lab capabilities are expanding along with technological changes. Thanks to new technology, scientists and laboratory technicians may work more correctly and quickly than ever. Artificial intelligence, automation, miniaturization, and smart technology are advancing into the real world and simplifying lab life. The need to provide outcomes rapidly is also growing concurrently. So, laboratories need to be quick and flexible. For laboratory managers, streamlining the purchase procedure is a major strategy for boosting productivity. The lab suppliers are also simplifying the product ordering and selection processes.
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Due to the coronavirus outbreak, numerous businesses are also working to create treatments and vaccines, helping the market expand. Due to rising clinical diagnostic testing adoption, rising disposable income, a surge in R&D and innovation activities, and raising awareness of disease prevention and early testing, the Asia-Pacific region holds a sizable market share for laboratory equipment and disposables and has high growth potential. Moreover, the prevalence of infectious diseases is rising.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
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Contact:
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About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
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About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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