Laboratory Chemicals Market Portrayal
The global laboratory chemicals market 2020 is highly competitive. Market Research Future finds that the demand for lab chemicals has amplified steadily, reaching an estimated surpassing last billion that was gained in the year 2018, with an expected surging CAGR by 2027. The entire market of laboratory chemicals will be gaining prominence during the years 2018 to 2027—forecasted period.
Laboratory Chemicals Boomers & Decliners
The laboratory chemicals market is mainly obsessed with many factors, such as upward R&D activities in biological and chemical sciences. Increasing usage in wastewater treatment is also guarantying the augmentation of the market’s growth. At the most, the advancement in technologies such as cell culture, recombinant DNA & biotherapeutics is projected to act as a prospect for the market in the future.
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Apart from this, the market for laboratory chemicals would also be fuelled by the escalating launch of monoclonal antibody therapeutics products and expansion in cell culture manufacturing. Monoclonal antibodies are being used for the effectual treatment for inflammatory disease, cardiovascular disease, and cancer treatment. In fact, physicians are turning towards the prescription of monoclonal antibodies owing to the effectiveness of the antibiotics. Hence, the escalating demand for monoclonal antibodies would also benefit the market for laboratory chemicals worldwide.
Most importantly, the demand for laboratory chemical consumables by the life sciences segment alone includes biotech, pharmaceutical, healthcare, and contract organizations. These grew at an estimated 5 to 7 percent in the year 2019. Thus, at this growth rate market will be expected to continue in the forecasted period.
On the contrary, the factor of availability of substitutes for laboratory chemicals might hinder the market’s growth over the assessment period, as MRFR finds in its study.
Laboratory Chemicals Market Segment Review
The global laboratory chemicals market is studied over the segments of product, application, and end-user.
By the segment of the product, the market has included molecular biology, cytokine and chemokine testing, carbohydrate analysis, immunochemistry, biochemistry, cell/tissue culture, and others. The molecular biology segment is further divided into gene synthesis and expression, PCR reagents, monoclonal and polyclonal antibodies, vectors, cloning and sequencing, enzymes, and others.
The market, by the segment of the application, has included research and development, academic, quality control, and others.
The market, by end-user segment, has included academic and research institutions, pharmaceutical and biotechnological companies, and others.
Laboratory Chemicals Market Regional Framework
The industry is progressively moving eastwards in line with the shift of its vital consumer industries to influence greater manufacturing competitiveness of emerging Asian economies and to serve the escalating local demand. With Asia’s upward contribution to the global laboratory chemical industry, India is promising as one of the focus destinations for chemical companies globally. Indian chemical market volume, which stood at $147 billion in the year 2015, is anticipated to develop at a much superior rate of 20-25 percent per annum as against the predictable development rate of 12-18 percent previous year. The Asia Pacific region is the highest growing market, which is attributed to recently established research institutions. Within APAC, China is witnessing the leading pharmacy R&D growth, resulting in economic development and surging demand by an aging population.
North America has the maximum market share, at more than 35 percent, driven by a 3.4 percent boost in R&D investments. A survey by MRFR notes that the pharmaceutical industry invested $65.3 billion in R&D in the year 2018.
The Middle East and Africa market might account for the nominal share of the global laboratory chemicals market in the forecast period, owing to an immature healthcare sector, lack of technical knowledge, and poor medical amenities.
The European market might become the second major by market share in the laboratory chemicals market. The market expansion in this region is accredited to government funding and support from the healthcare sector, coupled with surging research and development. The European chemicals market is very pioneering and ultimately helps in solving issues linked to climate change, nutrition, and health.
Laboratory Chemicals Market Top Players
The top players in the global laboratory chemicals market are listed as PerkinElmer Inc., Lonza Biologics Ltd, bioMerieux, Beckman Coulter Inc., BD Biosciences, EMD Chemicals Inc., GE Healthcare, Shimadzu Biotech, Meridian Life science Inc., and Takara Bio Inc.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
LIST OF TABLES
Table 1 Global Laboratory Chemicals Market Synopsis, 2018–2027
Table 2 Global Laboratory Chemicals Market Estimates And Forecast, 2017–2021 (USD Million)
Table 3 Global Laboratory Chemicals Market, By Region, 2017–2021 (USD Million)
Table 4 Global Laboratory Chemicals Market, By Product, 2017–2021 (USD Million)
Table 5 Global Laboratory Chemicals Market, By End-User, 2017–2021 (USD Million)
Table 6 Global Laboratory Chemicals Market, By Application, 2017–2021 (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Laboratory Chemicals Market
Figure 3 Segmentation Market Dynamics For Global Laboratory Chemicals Market
Figure 4 Global Laboratory Chemicals Market Share, By Product, 2017
Figure 5 Global Laboratory Chemicals Market Share, By End-User, 2017
Figure 6 Global Laboratory Chemicals Market Share, By Application, 2017
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