Global Laboratory Glassware And Plasticware Market 2017-2021
About Lab Glasssware and Plasticware
Laboratory glassware and plasticware products are a variety of equipment used by research and clinical laboratories across industries for scientific experiments. There are many types of glassware and plasticware products used in laboratories that are classified in terms of their uses and applications in the research process. The glassware products have been dominating the market for the last few decades but this trend is changing with the rising adoption of plasticware products. The glassware products were preferred by many end-users and were used because glass is transparent, thereby making the contents and the reactions clearly visible. However, because chemical substances and solvents need to be heated, cooled, and mixed, ordinary glass is not always adequate for laboratory work. For these reasons, the borosilicate glass is used instead of the ordinary glass.
Technavio’s analysts forecast the global lab glasssware and plasticware market to grow at a CAGR of 4.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global lab glasssware and plasticware market for 2017-2021. To calculate the market size, the report comprises of the laboratory glassware and plasticware products used by end-users for various applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lab Glasssware and Plasticware Market 2017-2021
Technavio recognizes the following companies as the key players in the global lab glasssware and plasticware market: Thermo Fisher Scientific, Corning, BOROSIL, and PerkinElmer.
Other Prominent Vendors in the market are: Bellco Glass, Duran Group, Crystalgen, Kimble Chase Life Science and Research Products, VITLAB, Citotest Labware Manufacturing, Eppendorf, and WHEATON.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is paradigm shift toward automated laboratory processes. The end-users are adopting various automated processes with the help of advanced technology and equipment to increase their operational efficiencies. This equipment help them to carry out multiple sample loadings and decontamination process in the laboratory. For example, the sample loading to a multiwell microtiter plate, which used to be done manually, is replaced by the automated sample loader to minimize the cost and time of the research process. LoadPro is used for the automation process for the loading of blood and urine specimen tubes to the pucks and racks of clinical instrumentation and automation tracks. It can load at a speed of 1200 specimen/hour.”
According to the report, one driver in market is rising R&D investments. The rising consumption of glassware and plasticware products due to the increase in the number of end-users and the rising demand for research in related industries is propelling the manufacturers to increase their R&D investments. The global expenditure on R&D has shown consistent growth in the last 10 years. It rose from $522 billion in 1996 to $1.6 trillion in 2014. In 2016, it was approximately $1.9 trillion. With the economies of developing countries growing faster than that of developed countries, the former is expected to have more research facilities and institutes set up over the next five years. The upsurge in the number of research and testing facilities, particularly in the field of pharmaceuticals and biotechnology will, in turn, lead to a rise in demand for laboratory glassware and plasticware. The US had the largest investment in biotechnology R&D in 2016, with an excess of $28.50 billion being invested by biotechnology R&D firms. France was the second largest investor in biotechnology R&D in 2016 investing over $3.8 billion, followed by Switzerland investing over $3 billion. South Korea was the largest investor in biotechnology R&D in Asia, investing over $2 billion. With countries continuing to place emphasis on knowledge expansion and innovation, the trend of increased R&D spending will continue during the forecast period.
Further, the report states that one challenge in market is private labelling and fragmented market. The global market for laboratory glassware and plasticware products is highly fragmented and competitive because of the availability of similar and less differentiated products. This market condition enables the local market players to introduce products with private labels and provide the products at low prices to attract the price-sensitive customers. This is a major challenge for the global players who supply standardized quality products but the expected discount prices lead to minimized profit margins. The highly-fragmented market and private labelling also increases the competition between the manufacturers and the different suppliers for the same product. The price war generated out of this can be a major obstacle for product quality and market growth because of the availability of substitute products with lower prices.
Thermo Fisher Scientific, Corning, BOROSIL, PerkinElmer, Bellco Glass, Duran Group, Crystalgen, Kimble Chase Life Science and Research Products, VITLAB, Citotest Labware Manufacturing, Eppendorf, and WHEATON.
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