New in 2018: LABWorld South East Asia
LABWorld South East Asia 2018 (Laboratory, Analytical & Biotech Equipment) will be held for the first time alongside CPhI South East Asia 2018 and co-located events at JIEXPO in Jakarta. It will provide laboratory equipment manufacturers with an international industry-leading platform to showcase the latest technologies and products, and the best opportunity to find target customers in the pharmaceutical industry.
The global market for general laboratory equipment was valued at nearly $5.4 billion in 2015. This market is expected to reach $9.4 billion by 2020, with a compound annual growth rate (CAGR) of 11.7% from 2015 to 2020. The Asian market for general laboratory equipment is expected to increase from $1.4 billion in 2015 to $2.8 billion in 2020, with a CAGR of 15% from 2015 to 2020.
In Indonesia in particular there is a high demand for global standard measuring devices due to a growing awareness among local manufacturers of the need to calibrate their products and measuring devices to compete in the global market. According to the Indonesian Institute of Sciences (LIPI), only 500 metrology laboratories and 120 calibration laboratories are present in the country; low by regional standards.
Companies producing medical devices such as diagnostic tools will benefit from increasing demand for medical devices in the ASEAN market, which is expected to double by 2019 to $9 billion. The lack of domestic competition in the region presents an opportunity.
If you’re looking to showcase your expertise in laboratory equipment, South East Asia is a market ripe with opportunities. Governments across the region have ambitious plans for improving healthcare infrastructure for citizens, opening the market up to international companies.
- Biochemical instrument
- Measuring instrument
- Optical instrument
- Analytical instrument
- Water purification equipment
- Testing instrument
- Laboratory equipment
- Laboratory consumables