Outlook of the global laboratory cabinet market
Extensive market analysis carried out by the analysts at Technavio has shown that the global laboratory cabinet market will grow at a steady CAGR of around 6% until the end of 2020. The significant increase in expenditure on research and development in the last ten years is driving the market for laboratory cabinet globally. With continuing emphasis on knowledge expansion and innovation, the trend of increasing spending on R&D will continue over the forecast period. The increase in R&D activities translates to an expansion of research and testing facilities which will, in turn, result in an augmented demand for laboratory cabinets.
Factors such as the increasing adoption of automation in laboratories for sample preparation, storage, and movement of sample and equipment is both cost effective and saves time. Automation in labs allows for efficient workflow with less need for human input, thereby minimizing errors and levels of contamination. Also, several laboratory cabinets allow the integration of automated accessories and other instruments to improve safety. With the emergence of biosafety cabinets and laminar flow cabinets which integrate an automated air barrier that reduces the risk of infection from airborne contaminants. Also, the digital interfaces on the cabinets allow for easy control of various factors within the cabinet, thereby reducing the complexity of operation. The rising demand for automation in laboratories will bolster this market’s growth potential during the forecast period.
Segmentation by end-user and analysis of the laboratory cabinet market
- Medical and healthcare
- Pharmaceutical
- Electronics
During 2015, the medical and healthcare sector dominated the global laboratory cabinet market and accounted for a market share of nearly 24%. Factors such as the rapid increase in the number of laboratories and other research facilities will aid in the growth of this market segment during the forecast period.
Geographical segmentation and analysis of the laboratory cabinet market
- Americas
- APAC
- Europe
- MEA
In this market study, the analysts have estimated the Americas to be the largest market for laboratory cabinet. Factors like large investments in research and testing in this region will spur the prospects for market growth until the end of the forecast period. The market for laboratory cabinet will account for a market share of approximately 33% by 2020.
Competitive landscape and key vendors
The laboratory cabinet market is highly fragmented due to the presence of well-established players. The competitive environment is expected to increase in due to an increase in product extensions, new product launches, and new applications of integrated product offerings. The market is expected to remain competitive with all the players competing to gain more market share.
Key vendors in this market are -
- Esco
- Labconco
- Polypipe
- Baker
- Thermo Fisher Scientific
Other prominent vendors analyzed in this market research report are A.T. Villa, AirClean Systems, Alkali Scientific, Azbil Telstar, Aztec Microflow, Bassaire, Durcon, Erlab, Intermetro Industries, Kewaunee Scientific, LOC Scientific, LabDesign, Looped Logic, Sandusky, TrippNT, and Valley Craft.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global laboratory cabinet market?
- What are the key market trends impacting the growth of the global laboratory cabinet market?
- What are the challenges to market growth?
- Who are the key vendors in global laboratory cabinet market?
- What are the market opportunities and threats faced by the vendors in the global laboratory cabinet market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of global laboratory cabinet market?
Technavio also offers customization on reports based on specific client requirement.