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Laboratory Equipment 2013 - Market Report

MUMBAI, India, February 22, 2013 /PRNewswire/ --

Bharat Book Bureau presents "Laboratory Equipment 2013 - Market Report"( http://www.bharatbook.com/market-research-reports/medical-devices-market-research-report/laboratory-equipment-2013-market-report.html)

This report analyses the market for laboratory equipment in the UK. Laboratory equipment refers to instrumentation, equipment and consumables used in science laboratories; routine testing; monitoring; reference and quality-control laboratories; and in hospitals, universities and schools.

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The laboratory equipment market is supported by a broad customer base, ranging from public-sector organisations such as the National Health Service (NHS) and local education authorities, to Government organisations, private hospitals and clinics, and industrial companies. Public-sector laboratories, such as university science departments and Government research institutes, receive support from the Government. Major UK-based pharmaceutical companies, such as GlaxoSmithKline and AstraZeneca, also spend heavily on laboratory equipment.

The UK laboratory equipment market has been growing consistently over the past 5 years, driven by a fast-growing life sciences industry; an ageing population; and the rising demand for medical care and clinical research, in addition to growing sophistication and cost of these types of equipment. Between 2008 and 2012, sales of laboratory equipment, instrumentation and laboratory consumables, grew by an estimated 9.3%. Instrumentation and equipment continues to form the largest sector in this market and accounted for 60.1% of the total market value in 2012, with the remaining 39.9% taken up by laboratory consumables.

Figures from National Statistics showed that, in 2010, the UK's gross domestic expenditure (GDE) on research and development (R&D) decreased by 0.8% in real terms. Despite the Government's promise to protect spending on science from its austerity measures, a recent study by the House of Commons showed that Government spending on science and technological innovation fell by 7.6% in 2010/2011.

The UK laboratory equipment market is projected to grow by 11.3% between 2013 and 2017. Growth will be sustained by R&D activities in the science and technology sectors, while the UK's expanding and ageing population will drive demand for medical and laboratory equipment and consumables.

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