Indicators Point to Slow Growth in Laboratory Equipment Sales

Sales of laboratory instrumentation, equipment and consumables increased in value by 1.1% in 2013 according to a new market report from business intelligence provider Key Note.

The analyst stated that the market has been affected by difficult economic conditions, budget constraints in universities and across Government institutions, and by lower levels of investment across most private sectors.

Sales within the laboratory instrumentation and equipment sector grew by 4.3% between 2009 and 2013, while sales of laboratory consumables enjoyed a higher growth of 7.5% over the same period.

In recent years, the economic slowdown in the West and rapid growth in emerging economies, i.e Asia and Latin America, has led laboratory equipment manufacturers to increasingly focus their businesses on emerging markets.

Key Note forecasts a growth of 1.3% for the UK laboratory equipment market in 2014. The UK Government is committed to investing in the country’s science and technology sectors over coming years, and this will help to encourage consistent, albeit slow, growth for the next 5 years.

Key Note expects that demand for laboratory equipment among the chemical industry, engineering and life sciences will grow, supported by public and private investment.