The laboratory equipment and disposables market is extrapolated to observe expansive growth across the assessment period of 2019-2027. The increasing technological advancements in laboratory equipment and a boost in private and public health investments will attract extensive growth during the forecast period. A rise in clinical diagnostic testing in many economies will also prove to be a game-changer for the laboratory equipment and disposables market.
- An increase in the number of infections, virus outbreaks, and diseases has led to extensive research activities around the globe. This aspect will help in increasing the growth rate of the laboratory equipment and disposables market to a substantial extent.
- The investments in research and development activities have increased considerably over the years. The rising investments in research activities help in generating good revenues. This aspect will ultimately help in boosting the growth prospects of the laboratory equipment and disposables market.
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- Mergers, acquisitions, partnerships, and joint ventures have a prominent role in the growth of the laboratory equipment and disposables market. The players indulge in these activities to expand their influence across the laboratory equipment and disposables market. This aspect leads to an increase in the growth opportunities of the laboratory equipment and disposables market considerably.
Global Laboratory Equipment and Disposables Market: Overview
The demand within the global market for laboratory equipment and disposables has been rising on account of advancements in the field of chemical and biological research. Laboratories have emerged as multipurpose research facilities that host several types of testing mechanisms, novel developments, and research analogies. The need for various types of equipments and aids across laboratories has given a strong drive to the global demand for laboratory equipment and disposables. Furthermore, the trend of research-based studies has been gaining prominence over the past decade. This factor has led to the development of new laboratories in schools and universities which has in turn propelled market demand.
There is stellar demand for improved safety procedures across all forms of research facilities. Laboratory equipments don’t just include cups, beakers, and test tubes, but a number of other precautionary and safety tools. The integrity of a particular research needs to be maintained throughout the scope of the research. Owing to the aforementioned factors, it is safe to conclude that the global laboratory equipment and disposables market would accumulate voluminous revenues in the years to follow. The presence of an exclusive medical research center has also aided market growth.
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The global laboratory equipment and disposables market can be segmented on the basis of the following parameters: product type, disposables, and region. Based on the type of product, the global laboratory equipment and disposables market can be segmented into laminar flow hood, incubator, centrifuges, micro manipulation systems, lab air filtration, homogenizers, autoclaves and sterilizers, and microarray equipment. Based on disposables, the global laboratory equipment and disposables can be segmented into tips, pipettes, cuvettes, tubes, masks, and gloves amongst others.
Global Laboratory Equipment and Disposables Market: Notable Developments
The competitive landscape of the global laboratory equipment and disposables market has undergone key developments over the past decade:
- The leading vendors in the global laboratory equipment and disposables market have been focusing on improving their research and development operations.
- Several new companies for laboratory equipment and disposables have come to the fore of the global market.
Some of the leading companies in the global laboratory equipment and disposables market are Bio-Rad Laboratories, Danaher Corp, Bruker Corporation, Fujifilm Irvine Scientific, Sartorius AG, PerkinElmer Inc., Shimadzu Corporation, and Thermo Fisher Scientific Inc.
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Global Laboratory Equipment and Disposables Market: Growth Drivers
- Research related to HIV to Propel Demand
The global incidence of chronic diseases has increased over the past decade. This factor has directly contributed toward the growth of the global laboratory equipment and disposables market in recent times. Furthermore, the presence of a dedicated industry for HIV research has also created ripples across the global laboratory equipment and disposables market.
- Improved Diagnostic Facilities
A number of diagnostic samples need to be analysed in laboratories and research centers. For this reason, it is important for laboratories to be equipped with the latest equipments and devices. Moreover, the biodegradability of disposables is another factor that needs to be considered while gauging the growth of the global laboratory equipment and disposables market.
Global Laboratory Equipment and Disposables Market: Regional Outlook
On the basis of geography, the global laboratory equipment and disposables market has been segmented into North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America. The market for laboratory equipment and disposables in North America has been expanding alongside advancements in the field of medical research.
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