LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Lab Consumables Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of lab consumables and acts as an all-inclusive guide for making smart purchasing decisions.
“A growing number of buyers in the lab consumables market are demanding for automatic systems such as electronic pipettes and automatic liquid handling systems with LIMS, which use disposable pipette tips or heads as they help in saving time by increasing the output,” says SpendEdge procurement analyst Bhuvaneshjwari Udayakumar. “Also, the demand in APAC is expected to grow faster compared with other regions due to the rapid growth in the end-user industries such as the pharmaceutical and health sciences industry, which will require an increased supply for lab consumables,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Lab Consumables Market:
- Surge in manufacturing of disposable items
- Increasing innovation in automation and connectivity technology for reducing rate of errors
- Increased acquisitions and mergers among suppliers
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The surge in the manufacturing of disposable items:
The demand for disposable items such as disposable pipette tips, face masks, and latex gloves have increased among buyers. This has led the suppliers to focus their manufacturing capabilities toward disposable items. Moreover, such disposable items require less operational costs and help in preventing manual errors. Also, the use of disposable pipette tips enables buyers to save on sterilization costs and reduce the chances of cross-contamination of samples.
Increasing innovation in automation and connectivity technology for reducing rate of errors:
Leading suppliers in this market space including Thermo Fisher, Eppendorf, Perkin Elmer, and VWR are increasingly spending a significant amount of revenue to support innovation for staying ahead of their competitors. The smaller vendors are focusing on developing new technologies and in improving the equipment shape and form that will help their products sell better than their established rivals.
Increased acquisitions and mergers among suppliers:
Suppliers are developing strategies that help them accelerate their revenue growth through investment in R&D and acquisition of other companies with innovative technologies. Also, expanding their product base helps them in strengthening their market positions within key market segments. Mergers also help businesses to accumulate and utilize each other’s finances and infrastructural strengths to improve their business positions and distribution channels.
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