Global Circulating Water Baths Market 2017-2021
About Circulating Water Baths
A water bath is a laboratory equipment used to incubate or maintain samples at a constant temperature for a long time. It usually consists of a metal container filled with heated water. A water bath usually has either an analog or digital interface that allows the user to control the temperature of the bath as per requirement. A water bath has many advantages and hence, its increasing demand.
Technavio’s analysts forecast the global circulating water baths market to grow at a CAGR of 4.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global circulating water baths market for 2017-2021. To calculate the market size, the report considers the sales of the circulating water bath equipment.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Circulating Water Baths Market 2017-2021
Technavio recognizes the following companies as the key players in the global circulating water baths market: Grant Instruments, JULABO, PolyScience, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: Benchmark Scientific, Cole-Parmer, Boekel Scientific, C&A Scientific, Carolina Biological Supply, Edvotek, Heidolph, Peter Huber Kältemaschinenbau, Humboldt, and IKA Works.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is flexibility of equipment. Of late, laboratories have been demanding more flexibility in almost all laboratory products for better use of the equipment and to save on costs. The circulating water baths have been incorporated with features and accessories that improve the flexibility of these products allowing the same equipment to be used for several processes within the laboratory. The raw materials that are used are rust-resistant and can be used for longer periods, which, in turn, reduces the expenses of the user in changing the equipment.”
According to the report, one of the major drivers for this market is rapid growth of e-commerce. The rapid growth of the e-commerce industry over the past few years has created new opportunities for laboratory equipment manufacturers with respect to supply and expansion. It has been seen that the sales rate in e-commerce channels will grow by approximately 11-12% in the UK and 9-10% in the US by 2021.
Further, the report states that one of the major factors hindering the growth of this market is high cost of equipment. The cost of a laboratory water bath generally ranges between $380 - $7,500 depending on the type of water bath and the manufacturer. Generally, a regular circulating water bath costs around $850. The additional charges for continual service and maintenance will further add to the total cost of ownership, making it a relatively large investment. Though the total cost of ownership of a water bath has reduced significantly over the past few years, the cost of owning a water bath will remain a challenge. The cost of energy that water baths use is relatively higher than an average laboratory equipment of the same size. Thus, the high price may restrict the buyers in developing countries, which will, in turn, affect the revenue of the vendors.
Grant Instruments, JULABO, PolyScience, Thermo Fisher Scientific, Benchmark Scientific, Cole-Parmer, Boekel Scientific, C&A Scientific, Carolina Biological Supply, Edvotek, Heidolph, Peter Huber Kältemaschinenbau, Humboldt, and IKA Works.