Lab Consumables Market worth $20.51 billion by 2029
The report "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",size 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.
Browse 178 market data Tables and 62 Figures spread through 283 Pages and in-depth TOC on "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"
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The major factors driving the market growth of the lab consumables market include technological advancements in laboratories, the rising R&D investment and more focus on drug discovery and development. The adoption of lab automation and increasing digitalization in lab consumables are further high growth prospects for the Lab consumables market during the forecast period. Moreover, the intense competition among players can support brand protection efforts. The growing demand for sustainable and eco-friendly consumables in laboratories and hospitals, growth potential of emerging markets and increasing demand for molecular diagnostics provide opportunities for market growth
The containers and vials segment is to register a significant growth rate over the forecast period of 2024-2029.
Based on the product type, over the forecast period of 2024-2029, the containers and vials segment is to register a significant growth rate. The Lab consumables product market is segmented into pipettes and tips, filters, microplates, tubes and racks, plates and seals, centrifuge tubes and accessories, filteration products, containers and vials, bags and wraps and other consumables. The key factors encouraging the growth of containers and vials segment during the forecast period are the increased adoption of clinical diagnostics in emerging economies and the availability of a wide range of product varieties.
The industrial manufacturing segment accounted for the largest share of lab consumables in 2024-2029.
Based on application, during the forecast period, the industrial manufacturing segment is anticipated to dominate the lab consumables market, holding the largest market share. The segment commands a significant share due to the rising demand for pharmaceutical, biopharmaceutical, and biotechtechnology products across key markets (such as the US, Europe, China, India, and the Middle East).
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2024, Asia Pacific is expected to register the highest CAGR in the market for lab consumables during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as growing number of clinical studies and academic & research activities are driving the growth of the APAC Lab consumables market during the forecast period.
As of 2023, prominent players in lab consumables are Merck KGaA (Germany), Danaher Corporation (US), Corning Incorporated (US), Greiner Bio-One International GmbH (Austria), Thermo Fisher Scientific, Inc. (US), Eppendorf SE (Germany), Abbott Laboratories (US), Danaher Corporation (US), Bio-Rad Laboratories Inc. (US), Agilent Technologies Inc. (US), Qiagen (Germany), Waters Corporation (US), Bruker Corporation (US) and Sysmex Corporation (Japan), among others.
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