Global laboratory accessories market over the forecast period of 2014 to 2020. This market is expected to reach $504.7 million by 2020 from $327.0 million in 2014, at a CAGR of 7.5% from 2014 to 2020.
The demand for laboratory accessories in the near future is set to rise due to the increasing trend of hospitals and research institutes resorting to automate their testing laboratories. The driving factors that are expected to boost the growth of the market are greater productivity and reduction in costs, improved personal safety, rising adoption of laboratory automation systems in drug discovery and clinical diagnostics, large-scale disease outbreaks, availability of funding for research, and higher reproducibility and accuracy in laboratory automation. However, high capital expenditure required for laboratory automation, higher level of maintenance required as compared to manually operated machines, and lower flexibility in terms of products as compared to that of manual systems are some of the restraining factors that may hinder the growth of this market. The global laboratory accessories market is expected to reach $504.7 million by 2020 from $327 million in 2014, growing at a CAGR of 7.5% during the forecast period. Lab Accessories Market by Type (Label Printer/ Pipette tips/ Pumps/Microplate/Reagent Reservoir/Valve/Tubing/Wash Station) & End User (OEM/Biotechnology & Pharmaceutical Companies/Hospital/Private Labs/Research Institute)
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The wash stations products segment dominated the laboratory automation accessories market,and was valued at $91.6 million 2014. Geographically, the laboratory accessories market is dominated by North America, which accounted for the largest share—42%—of the market.This segment is expected to reach $196.8 million by 2020 from $137.3 million in 2014, growing at a CAGR of 6.2% from 2014 to 2020.The implementation of the Affordable Care Act in the U.S. is expected to have a positive impact on the laboratory accessories market in this region. Europe accounted for the second-largest share of the market.
Geographical Snapshot of the Global Laboratory Accessories Market, 2014
Laboratory Accessories Market By Type
Growth Potential of Laboratory Accessories Market
Laboratory Accessories Market By End User
Challenges in Lab Accessories Market
Market Share Analysis, Laboratory Accessories Market
Competitive Situation and Trends, Lab Accessories Market
Competitive Situation and Trends, Lab Accesories Market
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The global laboratory accessories market is highly competitive with the presence of many big and small firms. These companies adopt various strategies (innovation, acquisitions, and geographic expansions) to increase their market shares and to establish a strong foothold in the global market. The major players in the market include Roche Holding AG (Switzerland), Abbott Laboratories, Inc. (U.S.), Tecan Group Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Beckton, Dickinson and Company (U.S.), Greiner Bio-One GmbH (Austria), Bio-Rad Laboratories, Inc. (U.S.) Hamilton Company (U.S.), Analytik Jena AG (Germany), Brooks Automation, Inc. (U.S.), and Corning Incorporated (U.S.).
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