LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global clinical trials consumables 2017-2021 report. This market research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global clinical trials consumables market is a highly competitive market with only a few key vendors and many medium and small-sized vendors. The key vendors expand their portfolio and increase their end-user base through the launch of innovative products. These companies also offer discounts on certain products to ensure customer loyalty and increase brand popularity.
“The key vendors are backed by efficient business planning models, strong cash in hand owing to consistent revenues, and years of experience. These companies look to acquire or partner with other smaller companies that offer innovative technologies, thereby expanding the product portfolio of the acquiring company. Furthermore, the key vendors have efficient supply chains and distribution networks, which further ensure their stronghold in the market,” says Amber Chourasia, lead lab equipment analyst from Technavio.
The report also states that vendors looking to enter the market need to develop effective supply chains and distribution networks to ensure success. Additionally, a considerable amount must be dedicated to R&D to explore innovative ways to enhance existing product lines and develop new products. Investing to enhance manufacturing capabilities will also be crucial for success.
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Technavio market research analysts identify the following key vendors:
Eppendorf is a life science company that develops and markets consumables; instruments; and services for liquid, sample, and cell handling in research laboratories. The company's products are extensively used in academic and commercial research laboratories and in the chemical and food industries. It also offers products for clinical and environmental analysis laboratories, forensics, and industrial laboratories that perform process analysis, production, and quality assurance.
Merck Millipore is the life science subsidiary of Merck, which is a leading life science company. This subsidiary is segmented into three business units, which include bioscience, lab solutions, and process solutions. The company is exploring innovative technologies by investing in R&D, which could lead to the discovery of new products or enhance existing ones.
PerkinElmer is a global healthcare company that manufactures and sells laboratory instruments, diagnostic equipment, software, and consumables. Its business is divided into two key segments, which include the diagnostics division and the discovery and analytical solutions division.
Thermo Fisher Scientific
Thermo Fisher Scientific is a multinational biotechnology product development company that serves its customers in life science research, patient diagnostics, and increasing lab productivity. The company's business is primarily divided into four major segments, which include analytical instruments, specialty diagnostics, life sciences solutions and laboratory products, and services.
The company manufactures and sells lab instruments, services, and consumables for various industries. Its business is segmented into three units, which include life sciences and applied markets, Agilent Cross Lab, and diagnostics and genomics.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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, re-sellers, and end-users.
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