Laboratory Supply Wholesaling in the US - Industry Market Research Report

Testing, testing: Volatile economic trends lead to minimal industry growth

Laboratory supply wholesaling revenue has grown at a CAGR of 1.0% over the past five years to $27.2 billion, including a marginal increase of 0.1% in 2023 alone. Downstream markets, including the Laboratory Testing Services industry and the Scientific Research and Development industry, have also grown, contributing to rising demand for laboratory equipment and supplies. But profit has declined to 4.8% of revenue. The economy has been highly volatile over the past five years, mostly because of COVID-19, which led to a reduction in the US GDP in 2020 and a strong expansion of the economy in 2021. The economy continued to grow moderately in 2022, but is experiencing uncertainty in 2023, mostly because of high interest rates.

Operators in the Laboratory Supply Wholesaling industry engage in the wholesale distribution of laboratory, scientific and school equipment and supplies. This industry excludes wholesalers that predominantly distribute medical, hospital and dental equipment and supplies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.