Lab accessories are essential tools utilized in scientific research, experiments, and practical science education. These accessories are vital for providing reliable, accurate, and prompt results. Additionally, lab accessories are easily transportable and are widely used in hospitals, clinics, diagnostic and pathological centers. They consist of various items such as laboratory instruments, general lab equipment, glassware, consumables, and other accessories. These tools play a crucial role in ensuring successful laboratory experiments and research.
In 2014, National Science Foundation’s (NSF) annual Business Research and Development and Innovation Survey (BRDIS) data tracked the research activities of 46,000 companies. According to their survey, the drug companies have increased their investment on research & development from US$ 3 billion in 2008 to US$ 8.1 billion in 2014. NSF also stated that there is slow, however, steady rise in spending of basic research by universities and private foundations. These factors are expected to boost the global laboratory accessories market growth over the forecast period.
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Global Laboratory Accessories Market Drivers:-
Continuous laboratory product launches due to increasing demand for laboratory accessories is expected to support the global laboratory accessories market growth over the forecast period. There is a constant increase in demand for laboratory accessories, due to growing competition in pharmaceutical and diagnostic industries (as lab accessories are basic requirements to run a laboratory). In order to meet the ever growing demand for lab accessories, manufacturers have to keep on introducing newer products with advanced The global laboratory accessories market is expected to experience growth over the forecast period, driven by a steady stream of product launches in response to rising demand. The demand for laboratory accessories continues to increase due to intensifying competition in the pharmaceutical and diagnostic industries, where lab accessories are essential for laboratory operations. To meet this growing demand, manufacturers are compelled to introduce new and advanced technology products to support lab automation.
The global laboratory accessories market is expanding its product offerings beyond traditional lab accessories to include items such as microplates and modular lab tables, which are gaining popularity. Manufacturers, such as Thermo Fisher Scientific, are continually improving product utility and ease of handling through technological advancements, driving market growth over the forecast period. Thermo Fisher Scientific’s products, such as the Dimension 4 Modular Lab Tables, Microplate Carousel, Plate Feeder Carousel, and Microplate Delidders, offer high scalability, flexibility, and stability for lab systems and workstations. The Micro Plate Carousel provides access to 104 deep well microplates and 200 microplates, while the Microplate Delidders automates the storage, replacement of lids, and storage of microplates.
Laboratory automation solutions, such as automated storage of stacked microplates and quick filling of microplates, offer flexible, reliable, and accurate solutions for various laboratory applications. By enhancing efficiency and reducing time, these solutions contribute to maintaining product quality, increasing production, and decreasing operating costs. The National Science Foundation (NSF) predicts that laboratory automation expenditures will double between 2010 and 2017, ultimately driving growth in the global laboratory accessories market over the forecast period.
The demand for infectious disease diagnosis is also on the rise due to the increasing prevalence of various diseases. According to the World Health Organization (WHO), an estimated 36.7 million people suffered from HIV in 2016. Furthermore, there has been a significant increase in the number of funding agencies for research institutes in recent years, such as Science and Technology Application for Rural Development (STARD) in 2015 and Intensification of Research in Higher Priority Areas (IRHPA) in 2016, among others. These funding opportunities are expected to drive growth in the global laboratory accessories market over the forecast period as laboratory accessories will be essential for conducting research in these laboratories.
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Regional Insights into the Global Laboratory Accessory Market:
The global market for laboratory accessories is projected to witness significant growth in North America during the forecast period. This can be attributed to the strong presence of leading manufacturers, continuous demand for laboratory accessories, and robust research and development activities in the region. Thermo Fisher Scientific, a leading manufacturer of laboratory accessories, has a strong presence in North America and offers innovative lab accessory solutions in the regional market. This is expected to contribute to the growth of the global laboratory accessories market over the forecast period.
The growth of the laboratory accessories market in Europe is expected to be significant over the forecast period. This is due to the increase in the prevalence of diseases and the rising research and development of drug therapies in the region. The World Health Organization (WHO) reports that the number of patients suffering from measles in Europe has increased considerably during the year 2016-2017, which is likely to increase the number of disease diagnosis centers in the region. These factors are expected to contribute to the growth of the global laboratory accessories market in Europe.
Leading companies in the global market for laboratory accessories:
Thermo Fisher Scientific, Tecan group, Becton, Dickinson and Company, Corning Incorporated, Bio-Rad Laboratories, Hamilton Company, Analytik Jena, Greiner Bi-one, and Brooks Automation are among the major players in the global laboratory accessories market.
Taxonomy of the global laboratory accessory market:
The global laboratory accessories market is divided into regions, end users, and product types.
By Product Type-
- Instruments
- Centrifuges
- Colorimeters
- Conductivity Instruments
- Balances & Scale
- Desiccators
- Flowmeters
- Autoclaves & Sterilization Products
- Homogenizers
- Incubators
- Others
- Glassware
- Lab Tables
- Consumables
- Others
By End Users:-
- Hospitals
- Private Labs
- Research Institutes
- Pathology Centers
By Region:-
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East
- Africa
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Market Overview
- Definition of Laboratory Accessories Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Laboratory Accessories Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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