Laboratory equipment manufacturers 'exist in a high-growth sector'

Laboratory equipment manufacturers could be in a position to take advantage of "strong growth prospects" in the industry, a new study has suggested.

GBI Research revealed the medical technology sector is driven by "constant" innovation, but the need for continued development is "huge".

"Big companies operating in the fields of in vitro diagnostics, orthopaedics and cardiology are looking for acquisitions to enhance their growth prospects and diversify their portfolio," the company explained.

According to the report, the largest markets for laboratory equipment are in the US, Japan and the European Union.

Mergers and acquisitions (M&As) frequently see larger players taking over small start-up firms, the survey claimed, with the latter often focused on developing a single advanced product.

The more established enterprises gain cutting-edge technology, while the less-sizable operations receive added resources, it observed.

GBI Research, which carries out studies in a range of sectors including pharmaceuticals and clean technology, noted that the majority of M&As are less than $25 million (£15.4 million) in size.