The growth of biotechnology and biopharmaceutical industries have further boosted the market for lab consumables as well. Especially in developing countries, which already lack decent primary healthcare services, the demand for lab services is rather high. This is clearly reflected in Technavio’s latest report which expects the market for lab consumables to grow at a CAGR of more than 5% by 2021.
Led by the Americas, this is one market which will record huge growth in the APAC region as well. Also with increased investments in life sciences, along with rising expenditure on R&D activities, the lab products which have witnessed an immense spike in demand are:
- Laboratory ovens and freezers
- Laboratory glassware and plastic ware
In this article, we explain how these two products have contributed towards the growth of lab consumables market at the global level.
How lab ovens and freezers have changed the face of laboratory services?
To begin with, it is the latest technological innovations which have changed the face of lab ovens and freezers. Growth in diagnostic centers, along with increased number of forensic investigations have necessitated the development of energy-efficient ovens and freezers. At the same time, with new guidelines and regulations, it has become even more important for vendors to not compromise on the quality aspect. Keeping these requirements in mind, Thermo Scientific Heratherm has come up with advanced laboratory heating and drying applications which consume less amount of heat and energy while maximizing the efficiency and reliability of the ovens.
Similarly, the increased number of blood banks and transplantation procedures, has led to the introduction of RFID-enabled freezers. As these freezers not only maximize inventory control but also improve the overall patient care, it has emerged as a major hit among the end-users.
Role of lab glassware and plastic ware in the lab services market
A major change which the lab services market has undergone is the shift towards automated lab processes. This development has in turn given rise to the demand for improved quality of glassware for labs. Also, as most of these products have a shorter life and repetitive consumption, it is important that the quality is not compromised at any level. Most leading vendors have increased their budget on developing better plastic ware, especially with the outbreak of several diseases.
Vendors like BOROSIL and Corning have already come up with glassware which can improve the overall quality of research and bring out better results.
Thus, the demand for lab consumables has increased manifold in the past one decade. And with more investments, mergers and acquisitions at the global level, along with clear targeting of the final consumers – the lab consumables market is sure to witness immense growth and development.
For more information on the Global Lab Consumables Market
