India, critical player in global laboratory equipment scene

THE vibrant Indian laboratory equipment and analytical instruments market is poised for significant growth, fuelled by rising investments in research and development (R&D), contract research projects and increasing demand for advanced laboratory techniques.

- By Nandita Vijayasimha, Bengaluru

The sector is further propelled by innovation and strategic collaborations. The rising startup activity and increased foreign direct investment in lab equipment and analytical instrumentation, position India as a critical player in the space.

According to a market report, laboratory equipment services market size is estimated to reach $22.1 billion by 2027, growing at a CAGR of 11.1 per cent during the forecast period 2022-2027 with the Asia-Pacific region expected to be the highest contributor to this growth.

The big names in the lab market in India investing in R&D include Agilent Technologies; Thermo Fisher Scientific Inc.; Waters Corporation; Danaher Corporation; Merck Eppendorf AG; PerkinElmer Inc; Pace Analytical Services Inc.

The age of automation

In an age of Industry 4.0 automation, robotics, Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and advanced imaging techniques are signalling a shift in investment priorities. Advances in imaging technologies, like high-resolution microscopy and imaging software allow for detailed and accurate analysis in research and diagnostics. 3D Printing technology helps develop custom lab equipment and prototypes, allowing for rapid development and testing of new devices.

No doubt technology infusion is streamlining laboratory processes, increasing efficiency, and decreasing human error in sample analysis and data collection. AI and ML are enabling advanced data analysis, predictive maintenance, and personalized medicine, allowing for more accurate and faster results. Further, IoT-enabled devices are improving connectivity between lab instruments, facilitating real-time monitoring and data sharing, which speeds up decision-making.