(I-BusinessNews.Com, February 23, 2019 ) The laboratory glassware and plasticware market is expected to grow at a CAGR of 3.7%
“Laboratory Glassware and Plasticware Market, by Product [Glassware (Pipette, Flasks, Containers, Petri Dishes, Slides), Plasticware (Pipette, Laboratory Beakers, Racks, Storage boxes)], End user (Diagnostic center, Pharmaceuticals) – Forecast to 2020”
Increasing demand for plasticware, cost effectiveness of plasticware, and technological advancements will drive market growth in the next five years
In this report, the laboratory glassware and plasticware market is broadly segmented into glassware products, plasticware products, end users, and regions. The plasticware market is segmented into pipettes and pipette tips, storage containers, beakers, flasks, and other products, such as vials, carrier trays, racks, storage boxes, and Büchner funnels. On the other hand, the glassware market is segmented into pipettes and pipette tips, storage containers, beakers, flasks, petri dishes, and other products, such as stirring rods, slides, vials, test tubes, Büchner funnels, and measuring cylinders. Based on end users, the market is segmented into research and academic institutes, contract research organizations, hospitals and diagnostic centers, pharmaceutical and biotechnology industries, food and beverage industry, and other end users such as environmental and chemicals/petrochemicals industries.
Factors such as increasing demand for plasticware owing to its cost-effectiveness, technological advancements, and introduction of specialty glassware are driving the growth of the laboratory glassware and plasticware market. However, the brittle nature of glass (resulting in low preference for glassware) and lack of funds (resulting in fewer research activities, thus affecting both glassware and plasticware markets) are the major factors that are expected to restrain the growth of this market to a certain extent.
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North America is expected to account for more than 40% of the laboratory glassware and plasticware market in 2015. In this region, R&D studies make use of laboratory glassware and plasticware on a large scale, which is a major factor responsible for the large share of North America in this market. However, in the coming years, the Asia-Pacific market is expected to witness the highest growth owing to the rising outsourcing activities in research and manufacturing as a result of low costs and access to skilled labor in this region.
Plasticware products such as pipettes & pipette tips and storage containers are expected to witness greater adoption during the forecast period and thus are the new revenue pockets in this market.
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