Prominent Lab Accessories Market Drivers By 2032
As per a recent analysis conducted by Future Market Insights, the lab accessories market is poised to experience robust growth, with a projected compound annual growth rate (CAGR) of 6.8%. This growth trajectory is anticipated to take the market from its 2022 valuation of US$ 585.0 Million to a substantial US$ 1.1 Billion by the year 2032. The report cites several factors contributing to this expansion, including enhanced research funding, rapid technological progress, and significant disease outbreaks on a large scale.
The pharmaceutical and diagnostic industries are witnessing growing competition, which is leading to a constant increase in demand for laboratory accessories. To cater to this demand, manufacturers must continually introduce new products with advanced technology to support lab automation. Along with conventional lab accessories, products like microplates and modular lab tables are also gaining popularity.
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Moreover, the prevalence of infectious diseases is increasing, leading to a rise in demand for infectious disease diagnosis. In 2016, it was estimated that 36.7 million people were suffering from HIV, as per the World Health Organization. Funding agencies such as Science and Technology Application for Rural Development (STARD) 2015 and Intensification of Research in Higher Priority Areas (IRHPA) 2016 have also increased, which is expected to boost the growth of the global laboratory accessories market in the forecast period since lab accessories are essential for laboratory operations.
Leading Companies Profiled in Lab Accessories Market are
Thermo Fisher Scientific Inc.
Analytik Jena AG
Biotix Inc.
Vistalab Technologies Inc.
Bio Rad Laboratories Inc.
Brooks Automation Inc.
BD
Corning Incorporated
Greiner Bio-One International GmbH
Hamilton Company
Parker Hannifin Corporation
Heidolph Instruments GmbH & Co. KG
Gilson Inc.
HNP Mikrosyteme GmbH
Verderflex
Key Takeaways from the Market Study
Global lab accessories market to nearly double from 2022 to 2032
US to account for the highest value share of US$ 403.0 Million of global market demand for lab accessories in 2032
From 2015 to 2021, lab accessories demand expanded at a CAGR of 7.5%
By type, the wash stations category constitutes the bulk of lab accessories market with a CAGR of 6.7%.
By end-user, research institutes to be most prominent end user, registering a CAGR of 6.9% by 2032
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Competitive Landscape
Players in the global Lab Accessories Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
In June 2022, Becton, Dickinson, and Company introduced the new BD FACSDiscover S8 Cell Sorter, featuring the breakthrough BD CellView Image Technology. It is the first cell sorter to combine advanced spectral flow cytometry with sort-capable image analysis that will potentially enable researchers to yield more accurate data and sort cells that previously could not be identified.
In June 2021, Bio-Rad Laboratories, Inc. announced the launch of its PREvalence ddPCR® SARS-CoV-2 Wastewater Quantification Kit, a sensitive, accurate, and cost-effective tool used to detect SARS-CoV-2 in a community’s wastewater. ddPCR® technology is recommended in the Centers for Disease Control and Prevention guidelines (CDC) for wastewater testing, and use of the technology has been published by the Environmental Protection Agency (EPA) as a dependable method to quantify viruses in wastewater.
Key Segments Covered in The Lab Accessories Market Study
Lab Accessories Market by Type:
Lab Microplates
Microplate Accessories
Lab Label Printers
Lab Pipettes
Lab Pumps
Lab Reagent Reservoirs
Lab Valves
Lab Tubings
Lab Wash Stations
Lab Accessories Market by End User:
Lab Accessories for OEMs
Lab Accessories for Biotechnology and Pharmaceutical Companies
Lab Accessories for Hospitals and Private Laboratories
Lab Accessories for Academic Institutes
Lab Accessories for Research Institutes
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