The laboratory equipment services market is projected to reach 17.7 billion by 2024, up from 9.5 million in 2019, at a CAGR of 13.4% between 2019 and 2024. The growth of the laboratory equipment services market is largely driven by a growing number of research activities in the pharmaceutical and biotechnology industries, the growing need for effective and timely diagnosis of diseases, and growing investment and government funding to support biomedical research activities.
The size of the global laboratory supply market was valued at USD 30.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028.
Both public and private investors are focusing their attention on this sector to improve the health situation in Bangladesh. And the most important part of the health sector is the diagnostic department.
Clinical and research laboratories, healthcare providers, and hospitals use medical diagnostic kits and Devices in Bangladesh consume about 300 million taka per year of in-vitro reagents, chemicals, and other consumables to evaluate individuals’ overall health and diagnose, treat and monitor disease.
The market is mainly driven by increased funding and investment in research and development activities in the field of biotechnology and pharmaceuticals. The market is expected to grow at a steady rate in the coming years due to the uninterrupted and stable supply of laboratory equipment.
Best expo organizer Eco Expo in Bangladesh, always concern about the growth of this sector.
