The global laboratory ware market size was valued at $6,730.0 million in 2020, and is projected to reach $11,918.0 million by 2030, registering a CAGR of 5.8%.

PORTLAND, OREGON, UNITED STATES, August 30, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Laboratory Ware Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global Laboratory Ware Market size was valued at $6,730.0 million in 2020, and is projected to reach $11,918.0 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.

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Laboratory ware is defined as the equipment used in the laboratory by scientist to conduct research. Laboratory ware consists of bottle, beaker, dish, conical vessel, petri dish, flask, microscope slides, microplate, and carboys. Different type of laboratory ware offers different function, thus, it is recommended to select the right laboratory ware to get accurate and precise result. The glassware is inert, heat-resistance and properly calibrated and plasticware are available at low cost, are easy to handle and flexible in nature.

Key players operating in the global laboratory ware market include –

Bellco glass, Inc.,
Corning, Inc.,
Crystalgen, Inc.,
Duran Group,
Eppendorf AG,
Gerresheimer AG,
Metler Teledo International,
Sartorious AG,
Technosklo Ltd., and
Thermo Fisher Scientific, Inc.

According to the CXOs of leading companies, growth of the laboratory ware market is attributed to factors such as technological advancements in healthcare sector; rise in prevalence of chronic diseases such as cancer, cardiovascular disease, hypertension, and diabetics; increase in funds from private and government organizations for development of pharmaceutical industry, and surge in demand for plasticware. The laboratory ware market gains interest of pharmaceutical companies, and chemical industry owing to surge in demand for novel therapeutic drug and personalized medicine. Moreover, the market has gained high traction in laboratory ware, such as pipette, beaker, test tube, stirrer, flask, bunchier funnel, petri dish and glass rod, in recent years as laboratory ware are used for collection, storing, mixing and analysis of the sample.

Further, North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of chronic diseases, presence of key players, and advancements in research activities for drug development.

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The factors that drive the growth of the laboratory ware market include rise in prevalence of chronic disease such as hypertension, cancer, cardiovascular disease, and diabetes; increase in number of geriatric population; advancement in technology for glassware manufacturing, and surge in demand for cell culture and microbial application. According to the World Health Organization (WHO) in 2021, various types of chronic diseases, such as cardiovascular diseases, cancer, respiratory diseases, and diabetes, are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. As per the same source, 41 million people die each year due to chronic disease, which is equivalent to 71% of all deaths, globally. Market players are focusing on the development of novel approaches for use of laboratory ware technology. Moreover, in 2020, Corning, a world leading innovator in material science, announced the launch of Elpasia laboratory plates which enable the researcher to produce high density of spheroids in a scaffold-free model by use of microcavity technology. These plates are used for cell culture development and to analyze hundreds to thousands of spheroids in a standard plate footprint. The increase in development of biotechnology industry, and surge in need for laboratory ware are the key factors for the growth of the market.

The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global laboratory ware market. The COVID-19 pandemic has stressed the healthcare systems in the world and increased the need for diagnosis of COVID-19. The increase in number of COVID-19 cases, surge the demand for diagnostic testing, which is an integral part of delivering patient care and controlling the spread of the disease.

On the basis of application, the market is classified into research, diagnostics, and others. The research segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to surge in number of laboratories for research activities and initiative taken by the government for the development of the research. On the basis of end user, the laboratory ware market is classified into research and academic institutes, hospitals and diagnostic centers and others. The research and academic institutes segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in prevalence of chronic disease, advancement in research activities, and development of laboratories in academic institutions.

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The laboratory ware market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is divided into glassware and plasticware. The glassware segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to surge in demand for borosilicate glass, development in the pharmaceutical industry, and rise in number of research laboratories.

Key Findings Of The Study –

By product, the glassware segment was the highest contributor to the market in 2020.
By application, the research segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
By end user, the research and academic institutes segment was the highest contributor to the laboratory ware market in 2020.
By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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