Global Lab Consumables Market 2017-2021

Overview of the global lab consumables market

Technavio’s market research predicts that the global lab consumables market will grow at a CAGR of above 5% during the forecast period. Rising demand from developing nations is one of the primary drivers of the market growth. Developing countries like China, India, South Africa, and Brazil have been witnessing increased expansion of numerous R&D facilities. Rising investments and funding to improve the quality checks of drugs have risen in these nations along with R&D spending to spot impurities in drugs. Moreover, these countries have increased focus on research and technological innovations in the fields of medicine, food and health, biotechnology, and industrial segments. Thus, these rapidly growing industries will drive the growth of the market during the forecast period with the rise in consumption rates.

One of the latest trends that will gain traction in the global lab consumables market is the rise in acquisitions and partnerships. To cater to a wide range of end-users, manufacturers have begun to extend their businesses assisting in expanding their portfolio of analytical solutions in the biopharmaceutical industry specifically. Moreover, the M&A activities of large manufacturers with new and smaller companies help in gaining a prominent market position. Furthermore, the increasing number of M&A leads to larger allocation of funds to gather the consumables required for R&D processes driving the growth of the market.

Competitive analysis and key vendors

The global lab consumables market is highly competitive with the presence of numerous international and regional vendors. The rise in the product innovations, product and service extensions and M&A activities will further increase the market competition. Moreover, the growth of the market players is reliant on factors like market conditions, government support, and industry development.

Key players in the market are:

• Camlab
• Spectrum Chemical
• Reagecon
• Eppendorf

Other prominent vendors include Bellco Glass, CRYSTALGEN, Kimble Chase Life Science and Research Products, Thermo Fisher Scientific, SKS Science Products, Edulab, Elkay Laboratory Products, Starlab Group, Pathtech, VITLAB, BRAND Scientific Equipment, Medline Scientific, Citotest Labware Manufacturing, and WHEATON.

Segmentation by end-user and analysis of the global lab consumables market

• Pharmaceutical industry
• Research organizations and institutes

During 2016, the pharmaceutical industry led the global end-user segment in the global lab consumables market and is expected to continue the dominion during the forecast period. Factors like increase in the number of chronic diseases globally and the revamped production of drugs to cater to the global demand propel the growth of the segment in the future.

Geographical segmentation and analysis of the global lab consumables market

• Americas
• APAC
• EMEA

In terms of geography, the Americas dominated the global lab consumables market during 2016 and is expected to continue the dominion over the next four years. Improved healthcare infrastructure, government funding for drug development and increasing number of pharmaceutical firms and diagnostic centers augments the growth of the market in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global lab consumables market?
• What are the key market trends impacting the global lab consumables market?
• What are the challenges to market growth?
• Who are the key vendors in the global lab consumables market?
• What are the market opportunities and threats faced by the vendors in the global lab consumables market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global lab consumables market?

Technavio also offers customization on reports based on specific client requirement.