Global Lab Accessories Market

Lab Accessories Market Insights

Laboratories play an important role in developing novel drugs and vaccines. The usefulness of the accessories in the labs provides scientists to handle work efficiently. Clinical research and trials are increasing across the globe making the laboratory an indispensable space.

Enhanced performance of the lab tests and their increasing trend have created a gateway for the lab equipment/accessories to increase in number. Performing blood tests and other tests require the use of multiple lab accessories and technical know-how.

Routine doctor visit requiresthe use of certain lab accessories to conduct either BP test or to check the back of the throat. Routine doctor visits in the past year declined due to the spread of COVID-19 but the relaxation in the rules of distancing and rising need for body check-ups and flu tests will lead to high use of accessories.

Drug discovery is being revolutionized by the inculcation of lab automation equipment and products. Automated Configurators, microplates, and lab robotics are all changing the definition of lab accessories by including lab automation at a rapid rate. High throughput is the need of the hour and much of it can be achieved by the integration of automation in the lab space. Lab automation is becoming a norm and has the potential to achieve reliable and accurate results.  The deployment rate for automation is increasing as research points towards the positive benefits it offers. Companies developing lab automation are raising potential funds to develop innovative laboratory pipettes.

The increased penetration of cloud technology in the laboratory sphere is also changing the usage of lab equipment. Scientists and technicians with the help of the cloudreceive reminders regarding lab processes. Cloud technology will also enable equipment control and companies in India are heavily investing in this domain.

The compact and eco-friendly equipment are also shaping the lab accessories and their use.  Labs are switching to accessories that use less energy making the model more efficient and eco-friendly.Higher efficiencies in the labs are also achieved by incorporating new technologies showcased through the trade shows and exhibitions solely for the lab industry.Lab Innovations is a platform showcasing lab equipment to be purchased and shown to the industry players. Sustainability incorporation in the labs is also gaining momentum. STARLAB and LTE are transforming lab accessories by infusing energy-efficient equipment. Other players that are introducing cabinets that would ensure biological safety are Haier BioMedical and Esco.

Market valuations also increase as the manufacturers increase the effort to provide equipment to the laboratory startups. Moreover,prominent players are developing startup programs for laboratory set up equipping the budding players with the know-how of labs. INTEGRA is helping startups to build labs and achieve a competitive edge.

The choice of the right lab equipment determines the high output generation. The equipment should save space, time and ensure the maximum safety of the samples. Lab equipmentis under constant innovations and certain innovations have racked up the market share. ZipChip,Milo, TOC Analyzers, and Lumos are significant contributions to the laboratory space. The market is also analyzed through the lens of management tools and software in the laboratory setting.

Certain trends that would impact the market are drone technology, and home-based wearable devices. Drones are perceived to be industry-altering as they help to deliver specimens and vaccines to the point of care. The advanced technologies developed for the microplates are also being showcased at international conferences.  The advanced microplates are designed to cater to the samples collected from the COVID-19 patients.

The COVID-19 built a plethora of opportunities for the market to experiment with.  The collection of samples and testing of blood is changing with the infusion of new technologies. Further, pipettes are also being transformed to meet the user’s needs. Electronic pipettes are trending in the market space and will boost the potential of the companies to expand. Automation is penetrating the pipettes by way of introducing robots for the pipettes. Projects like the Pipetting Robots are leading the way for automation in the labs. ASSIST PLUS is another project in the space for integrating the robotic for the pipettes. The success of the market is also visible through the awards and showcasing of the product on a larger scale.Liquid handling is also transforming to include robotic handling and software intrusion.

Lab Accessories Market: By Type

Microplates occupy a dominating space in the market owing to their high usagein clinical and analytical research. Their usage also extends to drug discovery and its applications. The increased use of microplates for cell imaging, and storing reagents will shape the segment’s demand. Also, Label printers would observe a rising trend owing to the affordabilityand reliability it offers.

Lab Accessories Market: By End User

Biotechnology and Pharmaceutical companies would have a high end-use for the lab accessories. Large budget allocationsand growing innovation levels would place the segment in the limelight. Big players like ThermoFisher Scientific and AstraZeneca are developing modern and automated solutions to be used in the labs. The provision of automation and product launch by pharmaceutical companies will positively influencesegment growth.

OEM as the user of lab accessories would see a rising market value as space is beingdominated by manufacturers such as Lab Strong, Phantom Laboratory, and Labnet International among others.

Lab Accessories Market: By Region

North America’s continued dominating position would be sustained by the manufacturer’s strong position in the market. The life science industry in the region is also experiencing growing revenue generation. Pharmaceutical company’s efforts to increase partnerships would also bear huge investment for the market in the region.

The Asia Pacific would experience strong growth mainly accrued to the rising laboratory testing and analytical research. Much of the growth is sustained by the growth in the pharma sector and the fast deployment of automation in the lab environment.

Market Share and Competitive Analysis

ThermoFisher Scientific,Agilent Technologies,Perkin Elmer, Bruker Corporation, Danaher Corporation, ACMAS Technologies Pvt Ltd, Lab Strong, Labnet International, Inc, Boekel Scientific,JLab, BrandTech Scientific,and Crown Healthcare are key players in this market.

Please note: This is not an exhaustive list of companies profiled in the report.