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 technology to support the lab automation.
For instance, along with
conventional lab accessories, products such as microplates and modular lab
tables are also gaining popularity. Technological advancement aimed at
improving utility and ease of handling is expected to support growth of global
laboratory accessories market over the forecast period. Products offered by
manufacturers such as Thermo Fisher Scientific include Dimension 4 Modular Lab
Tables, Microplate Carousel, Plate Feeder Carousel, and Microplate Delidders.
Dimension 4 Modular Lab Tables provide a highly scalable, flexible, and a
stable platform for lab systems and work stations. Micro Plate Carousel
provides access to 104 deep well microplates and 200 microplates. Microplate
Delidders automates the storage, replacement of lids and storage of
microplates.
These products provide flexible,
reliable, and accurate automation solutions for all kinds of applications such
as automated storage of stacked microplates, quick filling of the microplates,
and others. These also provide efficiency, saves time which in turn helps in
maintaining the quality of products, increasing the production and reducing the
operating costs. According to National Science Foundation (NSF), the
expenditure on laboratory automation is expected to double between 2010 and
2017 that will eventually boost growth of global laboratory accessories market
over the forecast period.
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Laboratory (lab) accessories
refer to the tools used for conducting scientific research or experiments, and
may also be used for teaching practical science. Lab accessories play a very
crucial role in laboratories to provide reliable, accurate, and expeditious
outcomes. Lab accessories are portable and are used in hospitals, clinics,
diagnostic centers, and pathological centers among others. Laboratory
accessories include laboratory instruments, general lab equipment, glassware,
consumables, and other accessories.
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.
Moreover, demand for diagnosis of
infectious disease is also rising owing to increasing prevalence of various
infectious diseases. According to World Health Organization (WHO), an estimated
36.7 million people were suffering from HIV in 2016. There is also a
considerable increase in number of funding agencies for research institutes
from the previous years, such as Science and Technology Application for Rural
Development (STARD) 2015 and Intensification of Research in Higher Priority
Areas (IRHPA) 2016, among others. These funding’s are expected to boost the
global laboratory accessories market growth over the forecast period as lab
accessories would be required to run the laboratories.
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Global Laboratory Accessories
Market Regional Insights:-
North America laboratory
accessories market is expected to witness significant growth over the forecast
period. Presence of leading manufacturers, robust research and development
activities, and continuous demand for lab accessories is expected to support
global laboratory accessories market growth over the forecast period. For
instance, manufacturers such as Thermo Fisher Scientific have high presence in
North America, which provides innovative lab accessory solutions in the
regional market.
Europe laboratory accessories
market is also expected to witness significant growth over the forecast period
due to rising disease prevalence and increasing research and development of
drug therapies. According to World Health Organization (WHO), there is a
considerable increase in the number of patients suffering from measles during
the year 2016-2017 in Europe, which would in turn increase the number of
disease diagnosis centers in the region. These factors are expected to support
the global laboratory accessories market growth in the respective regions.
Key players of Global Laboratory
Accessories Market:-
Key players operating in the
global laboratory accessories market include Thermo Fisher Scientific, Tecan
group, Becton, Dickinson and Company, Corning Incorporated, Bio-Rad
Laboratories, Hamilton Company, Analytik Jena, Greiner Bi-one, and Brooks
Automation.
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