(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "Lab Consumables market by Type (Microplate, Pipette & Tip, Tube, Filter, Vial, Gloves), Application (Research, Diagnostic, Industrial manufacturing, Forensic, Material, Environmental), End User (Hospital, Pharma, Biotech, F&B) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global lab consumables market is projected to reach USD 20.51 billion by 2029 from USD 14.41 billion in 2024, growing at a CAGR of 7.3% during the forecast period. The technological advancements of lab consumables products is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, the high cost of lab consumables affects the growth of the lab consumables market.
This report studies the lab consumables market based on type, application, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
The containers and vials segment to hold the largest share of the market in 2024
Based on type, lab consumables is segmented into filters, filtration products, centrifuge tubes and accessories, pipettes and tips, tubes and racks, microplates, plates and seals, containers and vials, bags and wraps and other consumables. The containers and vials segment is expected to dominate the lab consumables market during the forecast period. With the increasing adoption of the increase in industry adoption of lab consumable products in emerging economies and the launch of technologically advanced lab consumable products worldwide leads to the growth of this market segment.
The industrial manufacturing segment to hold the largest share of the market in 2024
Based on application, the Lab consumables market is segmented into clinical diagnostics, industrial manufacturing, life science research, environmental testing, forensic analysis and material analysis. The lab consumables market is expected to be dominated by industrial manufacturing segment during the forecast period. The industrial manufacturing application is expected to grow due to rising biotech industrial manufacturing and growth in pharmaceutical production.
The pharma and biopharma companies segment to hold the largest share of the market in 2024
The end user market is segmented into pharma and biopharma companies, biotechnology companies, food and beverage companies, hospital, surgical centers and clinics, diagnostics centers, forensic laboratories, research and academic institutes and other end users. Pharma and biopharma companies accounted for the largest share of the global lab consumables market in 2023 during the forecasted years. This can be attributed to the major applications and large demand of lab consumables accounted by pharma and biopharma sector.
The market in the APAC region is expected to register highest growth rate for Lab consumables in 2024
The lab consumables market covers five key geographies - North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, a significant market share for lab consumables was held by the market in the North American region, comprising the US and Canada. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. The increasing market penetration opportunities in emerging APAC countries led to the growth of the lab consumables market in this region.
Prominent players in the Lab Consumables market are Merck, Danaher, Greiner Bio-One, Thermo Fisher Scientific, Corning, Eppendorf, Bio-Rad Laboratories, Agilent Technologies, Abbott Laboratories, Qiagen, Waters, Bruker, Sysmex among others.
This report provides insights on the following:
Analysis of key drivers (Technological advancements in laboratories, Rising R&D Investments, Focus on drug discovery and development, Adoption of lab automation, Intense competition among players), restraints (High cost of advanced lab consumables, Environmental sustainability concerns), opportunities (Growing demand for sustainable and eco-friendly consumables, Growth potential of emerging markets, Increasing demand for molecular diagnostics), and challenges (Need for regulatory compliance, Lack of awareness and skills for advanced consumables) influencing the growth of the lab consumables market Market Penetration: Comprehensive information on the product portfolios offered by the top players in the lab consumables market Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the lab consumables market Market Development: Comprehensive information on lucrative emerging regions Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the lab consumables market Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 284 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $14.41 Billion |
| Forecasted Market Value (USD) by 2029 | $20.51 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Lab Consumables Market Overview
4.2 Asia-Pacific: Lab Consumables Market, by End-user and Country (2023)
4.3 Lab Consumables Market: Geographic Growth Opportunities
4.4 Lab Consumables Market: Regional Mix, 2022-2029 (USD Million)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancements in Laboratories
5.2.1.2 Rising R&D Investments
5.2.1.3 Focus on Drug Discovery and Development
5.2.1.4 Adoption of Lab Automation
5.2.1.5 Intense Competition Among Players
5.2.2 Restraints
5.2.2.1 High Cost of Advanced Lab Consumables
5.2.2.2 Environmental Sustainability Concerns
5.2.3 Opportunities
5.2.3.1 Growing Demand for Sustainable and Eco-Friendly Consumables
5.2.3.2 Growth Potential of Emerging Markets
5.2.3.3 Increasing Demand for Molecular Diagnostics
5.2.4 Challenges
5.2.4.1 Need for Regulatory Compliance
5.2.4.2 Lack of Awareness and Skills for Advanced Consumables
5.3 Regulatory Scenario
5.4 Reimbursement Scenario
5.5 Value Chain Analysis
5.6 Supply Chain Analysis
5.7 Ecosystem Analysis
5.8 Porter's Five Forces Analysis
5.9 Key Stakeholders and Buying Criteria
5.10 Trade Analysis
5.11 Patent Analysis
5.12 Pricing Analysis
5.13 Technology Analysis
5.14 Key Conferences and Events, 2024
5.15 Trends/Disruptions Impacting Customers' Businesses
5.16 Investment & Funding Scenario
5.17 Unmet Needs
5.18 Impact of Generative AI on Lab Consumables Market
6 Lab Consumables Market, by Type
6.1 Introduction
6.2 Containers & Vials
6.3 Pipettes & Tips
6.4 Microplates
6.5 Tubes & Racks
6.6 Centrifuge Tubes & Accessories
6.7 Plates & Seals
6.8 Bags & Wraps
6.9 Filters
6.10 Filtration Products
6.11 Other Consumables
7 Lab Consumables Market, by Application
7.1 Introduction
7.2 Industrial Manufacturing
7.3 Clinical Diagnostics
7.4 Environmental Testing
7.5 Life Science Research
7.6 Forensic Analysis
7.7 Materials Analysis
8 Lab Consumables Market, by End-user
8.1 Introduction
8.2 Pharmaceutical & Biopharmaceutical Companies
8.3 Biotechnology Companies
8.4 Diagnostic Centers
8.5 Hospital, Surgical Centers, and Clinics
8.6 Food & Beverage Companies
8.7 Academic & Research Institutes
8.8 Forensic Laboratories
8.9 Other End-users
9 Lab Consumables Market, by Region
10 Competitive Landscape
11 Company Profiles
11.1 Key Players
Merck Danaher Thermo Fisher Scientific Corning Greiner Bio-One International Eppendorf Agilent Technologies Avantor Abbott Laboratories Bio-Rad Laboratories Qiagen Waters Corporation Sysmex Corporation Shimadzu Corporation Revvity Bruker
11.2 Other Players
Fujifilm Wako Pure Chemical Camlab Reagecon Diagnostics Ltd. Sartorius Group Spectrum Chemical Mfg. Corp. Mobitec Cole-Parmer Instrument Company Miltenyi Biotec Pathtech Medline Scientific Vitlab Bellco Glass DWK Life Sciences
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