Report Overview

Growing adoption of advancements in technology in the field of laboratory equipment, increasing investments and government research funding to support research activities are projected to propel the expansion of South Africa laboratory supplies market during the forecast period between 2023 and 2029.

South Africa Laboratory Supplies Market - Industry Trends & Forecast Report, 2029

South Africa laboratory supplies market size is expected at a CAGR of 8.25% during the forecast period between 2023 and 2029. Major growth drivers for South Africa laboratory supplies market include an increasing funding and investment in pharmaceutical and biotechnology R&D activities. Due to the consistent and constant supply of laboratory equipment, the market is likely to grow at a steady rate in the future years. The pandemic prompted an upsurge in coronavirus research. Laboratory product demand is also increasing as a result of technical advances in chemical and biological research. The rising volume of clinical laboratory tests and life science research studies is pushing up demand for laboratory disposables. The market is also expected to earn ongoing demand from procurement managers in the pharmaceutical and healthcare sectors for a consistent supply of important laboratory gadgets and equipment. Hence, such aspects are expected to boost the expansion of South Africa laboratory supplies market during the period in analysis.

South Africa Laboratory Supplies Market – Overview

Laboratory supplies are equipment, consumables, instruments, and machines used in the research, diagnostic, and manufacturing of various substances, pharmaceuticals, and pharmaceutical therapies. These materials also contain safety equipment and clothing to ensure that the personnel conducting the research have no adverse consequences. Lab supplies are used in laboratories to undertake controlled and exact tests, research, and experiments. Labware, lab trays, and lab pans are used in the lab to transport, store, and keep material. Lab utensils and instruments are used to properly and efficiently measure, mix, sort, handle, dispense, and analyze lab materials.

Laboratory equipment is typically used to conduct an experiment or to collect measurements and data. A scientific instrument is a larger or more complex device. There are risks in many laboratories. Poisons, infectious agents, flammable, explosive, or radioactive chemicals, moving machinery, severe temperatures, lasers, strong magnetic fields, or high voltage are all potential hazards in the laboratory. As a result, safety precautions are critical. There are rules in place to reduce individual risk, and safety equipment is employed to safeguard lab users from injury or to assist in reacting to an emergency.

South Africa Laboratory Supplies Market

Growth Drivers

Investments and Government Research Funding to Support Research Activities

The laboratory supplies market in South Africa is driven by various factors such as increasing investments in research and development activities, rising demand for laboratory equipment in various industries, and growing government funding for scientific research. The market is also being propelled by the increasing adoption of advanced laboratory technologies, the emergence of new diseases, and the rising number of clinical trials. In addition, the South African government is taking initiatives to promote research and development activities in the country.

Restraints

High Cost of Technologically Advanced Laboratory Equipment

The incorporation of advanced technology to enhance productivity and efficiency has led to an increase in the cost of laboratory equipment services. As per market projections, the escalating costs of laboratory equipment are expected to impede the growth of the global laboratory equipment services market in the forecast period. This factor is likely to have a notable adverse impact on the market prospects for laboratory equipment services in developing economies.

Impact of COVID-19 on South Africa Laboratory Supplies Market

COVID-19 had a positive impact on laboratory supplies market across South Africa. Covid-19 was legally declared a pandemic on March 11, 2020. Since then, the COVID-19 has caused surging demand for healthcare resources. The pandemic’s increasing local prevalence had a substantial impact on laboratory services and equipment. While the volume of COVID-19 diagnostic and management laboratory tests grew, including some with weak evidence to support their use, overall testing volumes declined dramatically. As a result, the need for laboratory supplies rises. Some manufacturers have taken steps to adapt to the increased demand for COVID-19.

South Africa Laboratory Supplies Market

Segmental Coverage

South Africa Laboratory Supplies Market – By Product

Based on product, South Africa laboratory supplies market is bifurcated into Equipment and Disposables segments. The equipment segment is further divided into incubators, laminar flow hood, micro manipulation systems, centrifuges, lab air filtration system, scopes, sonicators and homogenizers, autoclaves and sterilizers, spectrophotometer and microarray equipment. Whereas, the disposables segment is sub divided into pipettes, tips, tubes, cuvettes, dishes, gloves, masks, cell imaging consumables, and cell culture consumables. Among them, the equipment segment held a higher share in the South Africa laboratory supplies market, followed by the disposables segment. The demand for laboratory equipment is driven by the increasing adoption of advanced laboratory technologies and the rising number of research and development activities in various industries.

Competitive Landscape

Major players operating in South Africa laboratory supplies market include Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Fujifilm Holdings Corporation, Agilent Technologies Inc., and PerkinElmer Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2020 - Bio-Rad Laboratories, Inc. formally announced that it had acquired Celsee, Inc., a manufacturers devices for cell analysis and diagnosis. The acquisition provided an opportunity for both of them to develop new items, which will expand the company's product line.

Scope of the Report

By Product

• Equipment

• Disposables