Wellesley, Mass. – According to a new technical market research report, GENERAL LABORATORY EQUIPMENT: GLOBAL MARKETS (Report Code: IAS078A) from BCC Research (www.bccresearch.com), the global market for general labware is expected to reach $6.7 billion in 2017, up from $3.9 billion in 2012.
The labware market is an extremely complex environment. Stakeholders in this area range anywhere from electronics to glassware, and from huge multinationals to small regional outfits. This report breaks the market for general labware into four geographic segments–North America, Europe, Asia, and the rest of the world (ROW)–with North America claiming the lion’s share, expected to be be worth nearly 2.2 billion in 2017, up from $1.4 billion in 2012. The European segment is the second-largest share, expected to be worth $1.7 billion in 2017, up from $1.0 billion in 2012.
Given the number and nature of players involved, the market is highly fragmented, leaving the field ripe for mergers and acquisitions. A recent example includes Corning picking up the majority of Becton Dickenson’s Discovery Labware business, worth $720 million in November 2012.
However, amid intense competition, general labware market movers face significant challenges as the scope of innovations is comparatively limited in this segment. The market is in great need of higher quality equipment and time-saving, autoprecision device. This is leading to manufacturing outsourcing to developing economies. China, so far the second largest market in Asia for lab equipment, is one of the fastest moving markets in the world, growing about 20% per year.
Within this environnment, there are significant challenges faced by laboratory companies such as intense competition, pressure of cutting cost, lack of skilled labor and sudden breakouts of new diseases (e.g., H1N1 virus). However, laboratory companies are facing these challenges through a number of methods, including: mergers and acquisitions, joint ventures to expand the product portfolio and competencies to meet the market’s needs, point of care testing, and continuous focus on technology innovations to impact on cost aspects, time, resources and accuracy levels.
With such complex market characteristics, it is critical that stakeholders in all segments of labware stay abreast of up-to-date market intelligence. This BCC Research report, identifies and analyzes opportunities and major factors driving and inhibiting growth in the global labware market and its geographic subsegments (North America, Europe, Asia and ROW). In addition, the report identifies major stakeholders, product portfolios and recent developments, and presents a competitive landscape for market leaders to track and analyze recent developments, alliances, joint ventures, mergers and acquisitions, and patents held by top players in the industry.
This report is intended to benefit entrants and manufacturers from the glass and plastic labware industries, and will prove valuable to distributors and service providers of lab equipment and devices, pharmaceutical and other life sciences companies as well as research institutes, associations and academicians.
Source: BCC Research