| | NOVEMBER 20228Over the past several years, there has been a significant change in trends and advances in the market for laboratory instruments. Every company in the world is in need of fresh and cutting-edge laboratory products due to the rapid expansion of clinical research activities and scientific and technical breakthroughs. In the market, new items and technology are being introduced quickly. This business is expanding because of the rising demand from the biotechnology, pharmaceutical, and life science sectors. The size of the global market for laboratory supplies was estimated at $30.6 billion in 2020 and is anticipated to increase at a CAGR of 7.5 percent from 2021 to 2028. The market is primarily driven by rising financing and investment in R&D activities in the pharmaceutical and biotechnology industries. The function of labs in the future will be increasingly focused on quality control, lowering laboratory NOVEL EQUIPMENTS ENABLING FASTER LABORATORY ANALYSISTHE PANORAMA
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