14-Jan-2021 | Zion Market Research
As per the researchers at Zion Market Research, the global lab accessories market is projected to expand to a projected valuation of around USD 7.99 Billion by 2025. Some of the key players within the global lab accessories market consist of Bio-Rad Laboratories, Inc., ThermoFisher Scientific, Inc., Biotix, Inc., BD, VISTALAB TECHNOLOGIES, INC., Endress+Hauser Management AG, Corning Incorporated, Brooks Automation, Inc., PARKER HANNIFIN CORP., Hamilton Company, Cole-Parmer Instrument Company, LLC, IWAKI CO., LTD., Heidolph Instruments GmbH & Co.KG, CHARLES AUSTEN PUMPS, Watson-Marlow Fluid Technology Group, HNP Mikrosysteme GmbH, Qiagen N.V., Gilson Incorporated, and Sapphire Engineering UK Ltd., among others. the global lab accessories market is extremely fragmented and several tactics like expansions, new product launches, joint ventures, agreements, acquisitions, partnerships, and others are being implemented by the major market contenders to strengthen their hold in this market. To cite, Andrew Alliance introduced a modified variant of ANDREW pipetting robot, ANDREW+, in May 2019. The product is simple to use and would provide performance, repeatability, and efficiency to the biology laboratory experiments at present. Such innovative introductions are likely to help boost the market growth.
Better Productivity And Efficient To Surge The Demand For Lab Accessories
The growth of the global lab accessories market is projected to be mainly driven by the rising inclinations of researchers and scientists to of R&D along with better productivity & efficiency offered by these accessories. Further, decrease in costs, increasing adoption of a lab, enhanced personal safety, large-scale disease epidemics, automation systems in clinical diagnostics & drug discovery, accessibility of financial support for the study, and higher accuracy & reproducibility in laboratory automation are also expected to drive the growth of the global lab accessories market. However, the dearth of the groundwork for technology development is anticipated to hamper the market expansion. Also, automation not being a precedence for medium- and small-sized labs is also projected to obstruct the growth of the global lab accessories market.
Research Institutes, By End-User, To Hold The Biggest Share In The Global Market
On the basis of end-user, the research institutes segment is expected to capture the biggest market share, trailed by hospitals & private laboratories. This segmental growth can be credited to the accessibility of sponsorship for study, better accuracy & reproducibility of laboratory accessories, disease epidemics, and the rising use of laboratory automation in clinical diagnostics & drug discovery.
Asia Pacific Anticipated To Observe Lucrative Expansion During The Forecast Period
Regionally, North America is expected to rule the global lab accessories market on account of the well-established healthcare infrastructure, huge count of research institutes & hospitals, and vigorous R&D initiatives being conducted in this region. furthermore, rapid compliance with technologically superior products in North America is projected to drive the market expansion during the years to come. Also, Asia Pacific is projected to observe lucrative growth during the forecast period taking into consideration the swiftly enhancing healthcare infrastructure along with massive spending in the healthcare sector by government bodies and investors.
Browse the full “Global Lab Accessories Market - By End-User (Biotechnology & Pharmaceutical Companies, Original Equipment Manufacturers (OEMs), Private Laboratories, Hospitals, And Academic Institutes & Research Institutes), By Type (Label Printers, Microplates, Pumps, Pipettes, Valves, Reagent Reservoirs, Wash Stations, And Tubings), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/lab-accessories-market
The global lab accessories market is segmented as follows:
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