Laboratory Rack Market 2016-2020

Market outlook of the global laboratory rack market

Technavio’s market research study predicts the global laboratory rack market to grow at a CAGR of around 4% by 2020. One of the primary drivers for this market is the growing number of subcontract laboratories. These labs allow companies to outsource their research and testing processes at affordable prices. In addition, there has been a massive increase of such outsourcing process especially to smaller subcontract laboratories in recent times. The growing popularity of these labs among smaller companies will increase the demand for laboratory racks and other laboratory consumables over the next four years.

This market research analysis estimates that the market will witness increased level of customization in the coming years. The end users select the type and size of the racks based on the application and the process. Manufacturers are coming up with customized rack designs to meet specific customer requirements. Customization includes the materials used, modification in design of the platform or trays, the number of slots, and the modular add-ons. The growing availability of customization services for specialized end users will boost the growth prospects for the lab racks market in the coming years.

Segmentation by product and analysis of the laboratory rack market

• Tube racks
• Bottle racks

The tube rack segment dominated the global laboratory racks market during 2015 and occupied around 59% of the overall market share. The primary reason for the growth of the tube racks segment is the massive demand coming from pharmaceutical and medical and healthcare industries because of their ability to store microtubes and vials. Factors such as the introduction of modular tube racks and growth in healthcare facilities in APAC and MEA are expected to fuel the growth of this segment over the forecast period.

Geographical segmentation and analysis of the laboratory rack market

• Americas
• APAC
• Europe
• MEA

APAC is expected to be the fastest-growing region in the laboratory rack market and is expected to occupy more than 28% of the total market share by 2020. The majority of the sales of laboratory racks is expected to come from new research facilities and academic laboratories. In addition, the migration of R&D facilities of the US-based and West European companies to APAC will drive the growth of this market in APAC during the estimated period.

Competitive landscape and key vendors

This market is highly fragmented with the presence of several regional and foreign players. The key market players compete in terms of design, quality, and pricing to gain a competitive edge over their peers. The recent increase in the number of laboratories worldwide is expected to cause a rise in the demand for laboratory racks over the forecast period. Competition in this market is expected to intensify during the forecast period due to increasing product extensions, new product launches, and new applications of integrated product offerings.

Key vendors in this market are -

• Dynalon Labware
• Global Scientific
• Heathrow Scientific
• Bel-Art Products-SP Scienceware
• Thermo Fisher Scientific

The other prominent vendors in the laboratory rack market include 3M, Abraxis, Argos Technologies, Bio Plas, CeilBlue, Corning, BioCision, Eppendorf, Glas-Col, Grant Instruments, Jaece, Simport, Troemner, United Scientific Supplies, and Wheaton.

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 rack market?
• What are the key market trends impacting the growth of the global laboratory rack market?
• What are the challenges to market growth?
• Who are the key vendors in the global laboratory rack market?
• What are the market opportunities and threats faced by the vendors in the global laboratory rack 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 the global laboratory rack market?

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

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