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Lab Accessories Market: Business Growth, Type, Size, Share, Application, Cost, Trends, Revenue, New Opportunity and Top Companies Overview

Lab Accessories Market research report aids accomplish the needs of businesses for which it analyses the market from top to bottom by considering plentiful parameters. A strong research methodology used here consists of data models that include market overview and guide, vendor positioning grid, market timeline analysis, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. The Lab Accessories Market report first introduces the market basics like definitions, classifications, applications, and industry chain overview, and then industry policies and plans, product specifications, manufacturing processes, cost structures, and so on.

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The dearth of qualified laboratory professionals(over 17% of laboratory professionals are set to retire in the next five years) and rising aging population have increased the demand for laboratory automation.The application of advanced technology in testing laboratories has gained importance as it ensures timely progress and efficiency with minimal errors. This has led to the adoption of lab automation in high-throughput screening, combinatorial chemistry, automated clinical and analytical testing, diagnostics, and large-scale bio repositories. However, high capital expenditure required for laboratory automation, higher level of maintenance required as compared to manually operated machines, and lower flexibility in terms of products as compared to that of manual systems are some of the restraining factors that may hinder the growth of this market. The global laboratory accessories market is expected to reach $504.7 million by 2020 from $327 million in 2014, growing at a CAGR of 7.5% during the forecast period.

The wash stations products segment dominated the laboratory automation accessories market,and was valued at $91.6 million 2014. Geographically, the laboratory accessories market is dominated by North America, which accounted for the largest share—42%—of the market.This segment is expected to reach $196.8 million by 2020 from $137.3 million in 2014, growing at a CAGR of 6.2% from 2014 to 2020.The implementation of the Affordable Care Act in the U.S. is expected to have a positive impact on the laboratory accessories market in this region. Europe accounted for the second-largest share of the market. The new EU Framework “Horizon 2020” as a part of its EU budget proposal for 2014 to 2020 proposed by the European commission is considered to boost research and innovation in this region. A significant part (9.7%) of the proposed budget will be allocated to research in the fields of healthcare, demographic changes, and well-being of the population, which provides financial strength to testing laboratories and research centers for adopting laboratory automation.

However, Asia is the fastest-growing region of the laboratory accessories market. This market is expected to grow at a CAGR of 11.8% during the forecast period. The growth of this market can be attributed to the governments of China, South Korea, and Singapore that significantly focus on the biotechnology industry. For instance, the government of China has provided a funding of an estimated $300 billion to its biotechnology sector as a part of its 12th five-year plan (2011–2015), and the government of South Korea invested ~$1.43 billion for its Bio-Vision 2016 program. These regions are considered to be the revenue pockets for the evolving laboratory accessories market.

The global laboratory accessories market is highly competitive with the presence of many big and small firms. These companies adopt various strategies (innovation, acquisitions, and geographic expansions) to increase their market shares and to establish a strong foothold in the global market.
Reasons to Buy the Report:

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them to achieve a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the product portfolios and services offered by the top players in the laboratory accessories market. It provides detailed insights of the market trends and factors contributing to the growth of the market
  • Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the laboratory accessories market
  • Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the laboratory accessories market across geographies
  • Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the laboratory accessories market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the laboratory accessories market

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency & Pricing
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Secondary and Primary Research Methodology
2.1.1 Secondary Research
2.1.2 Background Study
2.1.3 Market Understanding
2.1.4 Trends
2.1.5 Primary Research
2.1.6 Key Data From Primary Sources
2.1.7 Key Insights From Primary Sources
2.1.8 Market Size Estimation Methodology
2.1.9 Market Validation and Data Triangulation
2.1.10 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Geographical Snapshot of the Global Laboratory Accessories Market, 2014
4.2 Laboratory Accessories Market By Type
4.3 Growth Potential of Laboratory Accessories Market
4.4 Laboratory Accessories Market By End User

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 Laboratory Accessories/Components Market, By Type
5.2.2 Laboratory Accessories/Components Market, By End User
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Greater Productivity and Reduction in Costs
5.3.1.2 Better Personnel Safety: Lab Accessories Market
5.3.1.3 Increasing Adoption of Laboratory Automation Systems in Drug Discovery and Clinical Diagnostics
5.3.1.4 Large-Scale Disease Outbreaks
5.3.1.5 Availability of Funding for Research
5.3.1.6 Automation Enables End Users to Overcome Manpower Shortage
5.3.1.7 Higher Reproducibility and Accuracy
5.3.2 Restraints
5.3.2.1 Lack of Planning for Technology Development
5.3.2.2 Automation Not A Priority for Small and Medium-Sized Laboratories
5.3.3 Opportunities
5.3.3.1 Aging Population Leading to an Increase in the Number of Diagnostic Tests Performed in Laboratories
5.3.3.2 Automation in Cancer Research for Early Cancer Detection and Reduction in Cost of Cancer Treatment
5.3.3.3 Rising Number of Hospitals in Asia
5.3.4 Challenges in Lab Accessories Market
5.3.4.1 Survival for Smaller Players
5.3.4.2 Cost Challenges

6 Laboratory Accessories Market, By Type
6.1 Introduction
6.2 Microplates
6.2.1 Microplate Accessories
6.2.1.1 Microplate Storage Racks
6.2.1.2 Well Orienters
6.2.1.3 Well Stands
6.3 Label Printers
6.4 Pipettes
6.5 Pumps
6.6 Reagent Reservoirs
6.7 Valves
6.8 Tubings
6.9 Wash Stations

7 Laboratory Accessories, By End User
7.1 Introduction
7.2 OEMS
7.3 Biotechnology & Pharmaceutical Companies
7.4 Hospitals & Private Laboratories
7.5 Academic Institutes
7.6 Research Institutes

8 Laboratory Accessories Market, By Region

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