1. Market Research
  2. > Healthcare
  3. > Diagnostics Market Trends

Lab Accessories Market by Type & End User - Global Forecast to 2020

  • March 2015
  • 194 pages
  • MarketsandMarkets
Report ID: 2842395

Summary

Table of Contents

Search Inside

The dearth of qualified laboratory professionals (over 17% of laboratory professionals are set to retire in the next five years) and rising aging population have increased the demand for laboratory automation. The application of advanced technology in testing laboratories has gained importance as it ensures timely progress and efficiency with minimal errors. This has led to the adoption of lab automation in high-throughput screening, combinatorial chemistry, automated clinical and analytical testing, diagnostics, and large-scale bio repositories. 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.

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. The new EU Framework “Horizon 2020” as a part of its EU budget proposal for 2014 to 2020 proposed by the European commission is considered to boost research and innovation in this region. A significant part (9.7%) of the proposed budget will be allocated to research in the fields of healthcare, demographic changes, and well-being of the population, which provides financial strength to testing laboratories and research centers for adopting laboratory automation.

However, Asia is the fastest-growing region of the laboratory accessories market. This market is expected to grow at a CAGR of 11.8% during the forecast period. The growth of this market can be attributed to the governments of China, South Korea, and Singapore that significantly focus on the biotechnology industry. For instance, the government of China has provided a funding of an estimated $300 billion to its biotechnology sector as a part of its 12th five-year plan (2011–2015), and the government of South Korea invested ~$1.43 billion for its Bio-Vision 2016 program. These regions are considered to be the revenue pockets for the evolving laboratory accessories market.

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.

Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them to achieve a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.

The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios and services offered by the top players in the laboratory accessories market. It provides detailed insights of the market trends and factors contributing to the growth of the market

- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the laboratory accessories market

- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the laboratory accessories market across geographies

- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the laboratory accessories market

- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the laboratory accessories market

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

World Molecular Diagnostic Analyzers and Reagents Market 2021: USA, Europe, Japan--Supplier Shares by Test, Competitive Strategies, Test Volume and Sales Segment Forecasts, Technology and Instrumentation Review

  • $ 15900
  • Industry report
  • June 2017
  • by Venture Planning Group

Complete report $34,500.  DataPack (test volumes, sales forecasts, supplier shares) $15,900. This new seven-country study from VPGMarketResearch.com contains 1,398 pages, 194 tables, and is designed to ...

2017 US Infectious Disease Testing Market: Hospitals, Blood Banks, Commercial Laboratories, POC Locations

  • $ 7500
  • Industry report
  • March 2017
  • by Venture Planning Group

Complete report $11,500.  DataPack  (test volumes, sales forecasts, supplier shares) $7,500. VPGMarketResearch.com's new report is a strategic analysis of major business opportunities emerging in the ...

Laboratory-developed Testing: Technologies and Markets

  • $ 6650
  • Industry report
  • June 2017
  • by BCC Research

- The global market for laboratory-developed tests reached nearly $9.7 billion in 2015. This market is expected to increase from nearly $11.0 billion in 2016 to $14.9 billion in 2021 at a compound annual ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.