Global Refurbished Laboratory Equipment Market to Reach US$33.0 Billion by 2030

The global market for Refurbished Laboratory Equipment estimated at US$25.6 Billion in the year 2024, is expected to reach US$33.0 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2024-2030. Analytical Equipment / Clinical Equipment, one of the segments analyzed in the report, is expected to record a 4.9% CAGR and reach US$14.4 Billion by the end of the analysis period. Growth in the General Equipment segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.0 Billion While China is Forecast to Grow at 7.9% CAGR

The Refurbished Laboratory Equipment market in the U.S. is estimated at US$7.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.8 Billion by the year 2030 trailing a CAGR of 7.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.

Global “Refurbished Laboratory Equipment” Market – Key Trends & Drivers Summarized

Why Is the Refurbished Laboratory Equipment Market Gaining Momentum Across Various Sectors?
The refurbished laboratory equipment market is experiencing significant growth as research institutions, academic organizations, and pharmaceutical companies seek cost-effective alternatives to new equipment. Budget constraints, coupled with the need for advanced analytical instruments, have led many organizations to consider refurbished equipment as a viable solution. These devices offer comparable performance to new equipment but at substantially lower costs, enabling institutions to allocate resources more efficiently and expand their research capabilities.

How Are Quality Assurance and Certification Enhancing Market Confidence?
Quality assurance and certification processes have been instrumental in boosting confidence in refurbished laboratory equipment. Reputable refurbishers adhere to stringent protocols, including thorough cleaning, part replacement, calibration, and testing to ensure that the equipment meets original manufacturer specifications. Certifications from recognized bodies further validate the quality and reliability of refurbished devices. This emphasis on quality assurance has mitigated concerns regarding performance and longevity, making refurbished equipment a trusted choice for many laboratories.

Which Industries Are Leading the Adoption of Refurbished Laboratory Equipment?
Several industries are at the forefront of adopting refurbished laboratory equipment, including pharmaceuticals, biotechnology, environmental testing, and academic research. Pharmaceutical and biotech companies utilize refurbished analytical instruments for drug development and quality control processes. Environmental testing labs employ these devices for monitoring and compliance purposes. Academic institutions, often operating under limited budgets, find refurbished equipment ideal for teaching and research activities. The widespread adoption across diverse sectors underscores the versatility and appeal of refurbished laboratory equipment.

The Growth in the Refurbished Laboratory Equipment Market Is Driven by Cost Savings, Quality Assurance, and Expanding Research Activities in Emerging Economies
The refurbished laboratory equipment market is expanding due to several key drivers. Cost savings remain a primary factor, allowing organizations to acquire high-quality instruments without the financial burden of new equipment. Enhanced quality assurance measures and certifications have increased trust in refurbished devices. Additionally, the surge in research activities, particularly in emerging economies, has created a demand for affordable laboratory equipment. These factors collectively contribute to the robust growth of the refurbished laboratory equipment market.