LONDON--(BUSINESS WIRE)--The global laboratory glassware and plasticware market is projected to grow to USD 7,410.69 million by 2021, at a CAGR of nearly 5% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global laboratory glassware and plasticware market for 2017-2021. Based on end-users, the market is divided into research institutes, clinical diagnostic centers, and academic institutes.
Laboratory glassware and plasticware are the commonly used laboratory products in research, clinical, and academic laboratories for the preparation, mixing, and storage of samples and solutions. The significant rise in the number of application-oriented end-users is acting as a key factor driving the growth of the market.
Technavio’s research study segments the global laboratory glassware and plasticware market into the following regions:
Laboratory glassware and plasticware market in the Americas
“The Americas occupies a majority 43% of the global laboratory glassware and plasticware market. The well-developed infrastructure for healthcare are supporting the growth of the market in the clinical diagnostic and the hospital service segments,” says Amber Chourasia, a lead analyst at Technavio for lab equipment research.
Various end-user industries such as pharmaceutical companies, food and beverage companies, and biological research centers are displaying healthy growth, leading to the high consumption of the laboratory glassware and plasticware products that generate added revenue for the supplier of these products.
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Laboratory glassware and plasticware market in EMEA
Analysts at Technavio have projected the laboratory glassware and plasticware market in EMEA to be worth USD 2270.25 million by 2021. The excellent healthcare infrastructure in developed countries such as France, Germany, the UK, Greece, and Italy is likely to drive the growth of the region over the forecast period.
Also, the growth in research facilities for the food and agriculture industry and the pharmaceutical industry will significantly impact the growth of the market. The market in African countries will grow during the forecast period because of the rising awareness about healthcare measures and facilities.
Laboratory glassware and plasticware market in APAC
“APAC is projected to grow at a CAGR of almost 7% over the forecast period, establishing itself as the fastest-growing regional segment of the market. The high level of developmental activities in countries such as China, India, Japan, and Singapore is expected to fuel this growth,” says Amber.
The development of healthcare infrastructure, research facilities, and academic institutions will create a large demand for laboratory and plasticware. Also, the rising awareness about healthcare measures and the pro-active health care check-ups will increase the potential of the diagnostics centers and clinics.
The top vendors in the global laboratory glassware and plasticware market highlighted in the report are:
- Thermo Fisher Scientific
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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