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Global Laboratory Glassware and Plasticware Market to Reach US$ 6.9 Billion by 2024, Supported by Establishment of R&D Facilities

According to the latest report by IMARC Group, titled “Laboratory Glassware and Plasticware Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global laboratory glassware and plasticware market reached a value of US$ 5.5 Billion in 2018. Glassware and plasticware refer to a wide range of equipment used for scientific research in analytical, chemical and biological laboratories. These products are manufactured in various shapes and sizes depending on their applications. Although glassware products dominate the market, plasticware products are rapidly gaining popularity as they are inexpensive and safer. Moreover, new types of non-cytotoxic resins are being used in the production of plasticware which does not interact with biological materials, thereby, being more suitable for laboratory utilization.

Market Trends:

Increasing research activities in the pharmaceutical and biotechnology industries have given rise to the number of state-of-the-art research institutions across the globe. In line with this, the demand for efficient labware has also increased. Additionally, education systems in several nations are being developed to introduce the students to advanced scientific research methodologies. Moreover, the demand for glassware products is being elevated by properties of glass such as ease of cleaning, chemical resistance, transparency, and dimensional stability at high temperatures. On the other hand, the increasing popularity of laboratory plasticware products can be accredited to their lightweight and shatterproof nature. Other than this, plasticware products are also cheaper to produce and replace, and offer greater safety. Owing to these factors, the market is projected to be valued at US$ 6.9 Billion by 2024, expanding at a CAGR of 3.7% during 2019-2024.

Market Segmentation:

  • The market is segmented on the basis of product types which include laboratory glassware and laboratory plasticware. Presently, laboratory glassware represents the largest segment. It is further divided into test tubes, glass beakers, glass flasks, pipettes and burettes. On the other hand, laboratory plasticware is segmented as storage boxes, plastic flasks, plastic beakers, measuring cylinders and funnels.
  • Based on end-users, the market is categorized as research and academic institutes, hospitals and diagnostic centers, biotechnology industry and pharmaceutical contract research organizations, and food and beverage industry. Amongst these, research and academic institutes dominate the market.
  • On a regional basis, North America represents the leading market, holding the majority of the total share. It is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has also been examined with some of the key players being Corning Inc., Duran Group, Gerresheimer AG, Sartorius AG, Thermo Fisher Scientific, Mettler Toledo International, Inc., Eppendorf AG, Bellco Glass, Inc., Crystalgen Inc. and Technosklo Ltd.


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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
 

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