Global Laboratory AccessoriesMarket Drivers:-
Continuous laboratory productlaunches due to increasing demand for laboratory accessories is expected tosupport the global LaboratoryAccessories Market growth over the forecast period. There is a constantincrease in demand for laboratory accessories, due to growing competition inpharmaceutical and diagnostic industries (as lab accessories are basicrequirements to run a laboratory). In order to meet the ever growing demand forlab accessories, manufacturers have to keep on introducing newer products withadvanced technology to support the lab automation.
For instance, along withconventional lab accessories, products such as microplates and modular labtables are also gaining popularity. Technological advancement aimed atimproving utility and ease of handling is expected to support growth of globallaboratory accessories market over the forecast period. Products offered bymanufacturers such as Thermo Fisher Scientific include Dimension 4 Modular LabTables, Microplate Carousel, Plate Feeder Carousel, and Microplate Delidders.Dimension 4 Modular Lab Tables provide a highly scalable, flexible, and astable platform for lab systems and work stations. Micro Plate Carouselprovides access to 104 deep well microplates and 200 microplates. MicroplateDelidders automates the storage, replacement of lids and storage ofmicroplates.
These products provide flexible,reliable, and accurate automation solutions for all kinds of applications suchas automated storage of stacked microplates, quick filling of the microplates,and others. These also provide efficiency, saves time which in turn helps inmaintaining the quality of products, increasing the production and reducing theoperating costs. According to National Science Foundation (NSF), theexpenditure on laboratory automation is expected to double between 2010 and2017 that will eventually boost growth of global laboratory accessories marketover the forecast period.
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Laboratory (lab) accessoriesrefer to the tools used for conducting scientific research or experiments, andmay also be used for teaching practical science. Lab accessories play a verycrucial role in laboratories to provide reliable, accurate, and expeditiousoutcomes. Lab accessories are portable and are used in hospitals, clinics,diagnostic centers, and pathological centers among others. Laboratoryaccessories include laboratory instruments, general lab equipment, glassware,consumables, and other accessories.
In 2014, National ScienceFoundation’s (NSF) annual Business Research and Development and InnovationSurvey (BRDIS) data tracked the research activities of 46,000 companies.According to their survey, the drug companies have increased their investmenton research & development from US$ 3 billion in 2008 to US$ 8.1 billion in2014. NSF also stated that there is slow, however, steady rise in spending ofbasic research by universities and private foundations. These factors areexpected to boost the global laboratory accessories market growth over theforecast period.
Moreover, demand for diagnosis ofinfectious disease is also rising owing to increasing prevalence of variousinfectious diseases. According to World Health Organization (WHO), an estimated36.7 million people were suffering from HIV in 2016. There is also aconsiderable increase in number of funding agencies for research institutesfrom the previous years, such as Science and Technology Application for RuralDevelopment (STARD) 2015 and Intensification of Research in Higher PriorityAreas (IRHPA) 2016, among others. These funding’s are expected to boost theglobal laboratory accessories market growth over the forecast period as labaccessories would be required to run the laboratories.
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Global Laboratory AccessoriesMarket Regional Insights:-
North America laboratoryaccessories market is expected to witness significant growth over the forecastperiod. Presence of leading manufacturers, robust research and developmentactivities, and continuous demand for lab accessories is expected to supportglobal laboratory accessories market growth over the forecast period. Forinstance, manufacturers such as Thermo Fisher Scientific have high presence inNorth America, which provides innovative lab accessory solutions in theregional market.
Europe laboratory accessoriesmarket is also expected to witness significant growth over the forecast perioddue to rising disease prevalence and increasing research and development ofdrug therapies. According to World Health Organization (WHO), there is aconsiderable increase in the number of patients suffering from measles duringthe year 2016-2017 in Europe, which would in turn increase the number ofdisease diagnosis centers in the region. These factors are expected to supportthe global laboratory accessories market growth in the respective regions.
Key players of Global LaboratoryAccessories Market:-
Key players operating in theglobal laboratory accessories market include Thermo Fisher Scientific, Tecangroup, Becton, Dickinson and Company, Corning Incorporated, Bio-RadLaboratories, Hamilton Company, Analytik Jena, Greiner Bi-one, and BrooksAutomation.
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