LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global laboratory disposables market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global laboratory disposables market will grow at a CAGR of more than 7% during the forecast period. The increasing research studies is a major factor driving the market’s growth.
The research studies and innovations are increasing at a high rate to meet the growing demand in industries such as life sciences, chemicals, and food and beverages. Testing of new products at a lab-scale and then transferring to the manufacturing level concludes research in these industries. The research studies involve a laboratory set-up where laboratory consumables and equipment are used. Owing to the increasing demand, and helping the competitors sustain in the market, the investment in R&D of these industries is increasing.
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The two emerging market trends driving the global laboratory disposables market according to Technavio research analysts are:
- Increasing adoption of laboratory automation systems
- Use of environmental friendly raw materials
Increasing adoption of laboratory automation systems
The increase in the adoption of automation in laboratory devices is triggered by the increase in laboratory costs and high laboratory failures. The use of laboratory automation devices results in the reduction of the overall laboratory cost and sample wastage during experiments. The automation devices such as microplate readers, automated liquid handling systems, and synthetic biology workstations make use of disposables such as tips, microplate readers, and vials, which do not require human intervention and can be disposed of after use.
“The cost of depleting inventory reduces, with the adoption of automated laboratory systems. This reduction is due to the majority of laboratory consumables that are purchased become wasted due to shorter expiry dates, and lead to incorrect results when used for experiment,” says a senior analyst at Technavio for research on lab equipment.
As laboratory automation helps in reducing the labor costs and human intervention with low error rate, it is now being adopted widely across the globe. For example, an advanced workflow of synthetic biology process from gene assembly to plasmid transmission is done by synthetic biology workstation. During the process, the workstation makes use of tips, microplate readers, cell washers, petri plates, vials, and colony pickers. It uses pre-loaded tips, vials, and petri plates, which are discarded after the process, thus, increasing the volume of laboratory disposables. Hence, the growth of the global laboratory disposables market is being driven by the increased adoption of laboratory automation systems across laboratories.
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Global laboratory disposables market segmentation
This market research report segments the global laboratory disposables market into the following two major end-users (pharmaceutical and biotechnology companies and research and academic institutions) and three major regions (the Americas, APAC, and EMEA).
The pharmaceutical and biotechnology companies segment held the largest market share in 2017, accounting for nearly 42% of the market. However, the market share for this application is expected to decrease by 2022.
The Americas was the leading region for the global laboratory disposables market in 2017, accounting for a market share of 40%. However, by 2022, the Americas is expected to witness a decline in its market share but will continue to be the dominating region in the market.
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