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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.
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.
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.
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 -
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
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