Global laboratory supplies market growth is driven by rising demand for various test kits and consumables across food, agricultural, chemical and biomedical industries. Laboratory supplies include a variety of instruments, reagents, consumables and even small pieces of equipment that are used majorly in research, development and manufacturing activities. Technological advancements in healthcare and growing healthcare expenditure have boosted demand for novel diagnostic tests and research activities, necessitating continuous supply of upgraded laboratory solutions. Furthermore, rising government focus on developing life science infrastructures can drive the market growth. However, influx of local manufacturers offering low-cost alternatives can hamper the market growth
Market Dynamics:
Global laboratory supplies market growth is driven by rising investments in R&D activities, growing focus on drug discovery and development, and increasing government expenditure on healthcare infrastructure development. However, high costs associated with varied laboratory equipment can hamper the market growth. Growing availability of improvised and customized laboratory consumables catering to sector-specific requirements can offer opportunity for market players. Rising demand for personalized medicine and influx of advanced technologies such as 3D cell culture and microfluidics can also drive the market growth.
Key Features of the Study:
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