About Lab Accessories
Lab accessories play a significant role in laboratories in order to offer reliable, precise, and rapid outcomes. Hospitals and research institutes are focusing on their testing laboratory automation. Thus, it will save time as well as cost; hence, they are used in diagnostics, combinatorial chemistry, screening, large-scale bio-repositories, and analytical testing. Lab accessories are user-friendly and thus, they can be used at clinics, ambulance, hospitals, and homes. Rapid technological advancements and increased demand for lab automation are the major factors driving the growth of the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.9% |
There are various companies are exploring the market in new geographical regions by adopting various market growth strategies such as mergers & acquisitions, expansions, investments, new product launches and many others. The market leading players are exploring new opportunity areas through expansions and acquisitions across the globe to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Lab Accessories market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ThermoFisher Scientific, Inc. (United States), Bio-Rad Laboratories, Inc. (United States), Becton Dickinson (United States), Biotix, Inc. (United States), Endress+Hauser AG (Switzerland), VISTALAB TECHNOLOGIES, INC. (United States), Brooks Automation, Inc. (United States), Corning Inc. (United States), Hamilton Company (United States) and PARKER HANNIFIN CORP. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are IWAKI CO., LTD. (Japan), Heidolph Instruments GmbH & Co.KG (Germany), Qiagen N.V. (Netherlands), HNP Mikrosysteme GmbH (Germany), Gilson, Inc. (United States) and Charles Austen Pumps Ltd. (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Lab Accessories market by Type (Microplates, Label Printers, Pipettes, Pumps, Reagent Reservoirs, Valves, Tubings and Wash Stations), Application (OEMS, Biotechnology & Pharmaceutical Companies, Hospitals, Private Laboratories, Academic Institutes and Research Institutes) and Region.
On the basis of geography, the market of Lab Accessories has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Direct Sales will boost the Lab Accessories market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increased Demand for Lab Automation, Growth in Productivity and Reduction in Costs, Extensive Disease Outbreaks, Automation over Manual Works Reduces the Error, Increasing In Number of Hospitals, Large-Scale Disease Outbreaks, Rapid Technological Advancements and Lack of Preparation for Technology Development
Challenges:
Survival for Emerging Players
Restraints:
Lack of Planning for Technology Development and Automation Not A Priority for Small and Medium-Sized Laboratories
Opportunities:
Aging Population Leading to an Increase in the Number of Diagnostic Tests Performed in Laboratories, Automation in Cancer Research for Early Cancer Detection and Rising Number of Hospitals in Asia Pacific Regions
Market Leaders and their expansionary development strategies
In April 2023, Flagship Facility Services announced the acquisition of Biotechnical Services, Inc. (BTS) an independent laboratory services company headquartered in San Diego, California.
In August 2023, Thermo Fisher Scientific recently introduced the Made in India TSV series of laboratory refrigerator and freezers. The TSV Series, engineered to meet the short to medium-term lab storage requirements of academia, research and healthcare laboratories in India, has some unique features that are setting a new benchmark in the industry:
Key Target Audience
Lab Accessories Manufacturers, Lab Accessories Raw Material Suppliers, Lab Accessories Traders/Distributor’s, Lab Accessories Importer/Exporter, Regulatory Bodies, Government Bodies, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.