Technavio, a leading provider of market research reports, has released its latest study on Laboratory Disposables Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. The rising laboratory costs and frequent experiment failures have prompted laboratories to embrace automation in their devices. Automated laboratory equipment, including microplate readers, automated liquid handling systems, and synthetic biology workstations, significantly decrease overall laboratory expenses and minimize sample wastage during experiments. These devices utilize disposable items such as tips, microplates, and vials, which do not necessitate human intervention and can be discarded post-use. The implementation of automated laboratory systems results in a reduction of inventory depletion costs. This is due to the fact that a substantial portion of laboratory consumables are discarded due to short expiry dates and can yield inaccurate results when utilized for experiments.
The global laboratory disposables market size is estimated to grow by USD 11175.7 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.03% during the forecast period. Increasing research studies is driving market growth, with a trend towards increasing adoption of laboratory automation systems However, lack of differentiation among vendors poses a challenge.Key market players include 3M Co., Agilent Technologies Inc., Avantor Inc., Becton Dickinson and Co., BIO PLAS Inc., Bio Rad Laboratories Inc., BioTC Labware, BRAND GmbH and Co. KG, Cardinal Health Inc., CELLTREAT Scientific Products, Corning Inc., Crystalgen Inc., Eppendorf SE, GENFOLLOWER BIOTECH Co. Ltd., Gerresheimer AG, Greiner Bio One International GmbH, Heathrow Scientific LLC, Labcon North America, Labtech Disposables, QIAGEN NV, Simport Scientific Inc., Surgeine Healthcare India Pvt. Ltd., and Thermo Fisher Scientific Inc..
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The global healthcare supplies market encompasses businesses and innovations within the medical consumables sector, catering to the diagnosis and treatment of diverse diseases. According to Technavio, this market's size is determined by the consolidated revenue generated by manufacturers of essential supplies, including syringes, drapes, gloves, and gowns. Factors driving market expansion include demographic shifts, with the global population aged 60 and above projected to rise significantly. By 2050, approximately one-quarter of the US population and Europe's population by 2030 will be over 60 years old.
The Laboratory Disposables Market is experiencing significant growth, fueled by the Increasing research studies. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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The Laboratory Disposables Market represents a significant business opportunity, driven by the increasing demand for cost-effective and efficient laboratory solutions. Key market trends include the growing adoption of automation in laboratories, rising research and development expenditures, and the increasing focus on infection control. Major players in this market include Thermo Fisher Scientific, Merck KGaA, and Sigma-Aldrich, among others. These companies are investing in innovation and expanding their product portfolios to cater to the evolving needs of customers.
The Laboratory Disposables Market is witnessing significant growth due to the increasing adoption of Robotics and Automation in Diagnostics laboratories and Pharmaceutical firms. The market is driven by the rising demand for advanced technologies such as Biomarker Analysis, Genetic Testing, Molecular Diagnostics, and Advanced Imaging Systems in healthcare sector. The trend towards Personalized Medicines and Point-of-Care Testing (POCT) is also fueling the market's growth. Laboratory disposables play a crucial role in healthcare technology, including Diagnostics, Infectious Diseases, and Chronic Diseases testing. These non-reusable products include Specimen Containers, Consumable Items, and Laboratory Equipment. The demand for disposables is high due to their chemical resistance, sterilization capabilities, and contamination prevention features. Pharmaceutical firms and Diagnostic labs are the major consumers of laboratory disposables. The market is expected to grow further due to the increasing number of Clinical trials and the need for Diagnostic tests in various industries. The market's growth is also driven by the rising awareness of Patient safety and the need to prevent cross-contamination. In conclusion, the Laboratory Disposables Market is a significant contributor to the healthcare sector and is expected to continue its growth trajectory in the coming years.
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