According to a recent study by Future Market Insights, the Lab Accessories Market demand is expected to witness a high CAGR of 6.8%, growing from US$ 585.0 Million in 2022 to US$ 1.1 Billion by 2032. The report attributes the market’s growth to factors such as increased availability of research funding, rapid technological advancements, and large-scale disease outbreaks.
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
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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
“High adoption of laboratory automation systems in drug discovery and clinical diagnostics is amongst the important factor expected to intensify the growth and demand of lab accessories market during the forecast period,” remarks an FMI analyst.
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.
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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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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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