Laboratory Disposables Market Size to grow by USD 11175.7 million between 2024-2028

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.

Key Highlights

Growth Projections

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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Major Findings

The laboratory disposables market is experiencing significant growth due to the increasing number of research studies and the resulting demand for high-quality disposable labware. These items are essential for maintaining the sterility and integrity of experiments, making them indispensable in scientific research and diagnostic applications. Advancements in technology have led to the production of more durable and cost-effective disposables, further fueling market expansion.

The expansion of the diagnostic laboratories sector is significantly driving the demand for laboratory disposables. These facilities require a constant supply of high-quality disposable products to ensure the accuracy and sterility of diagnostic tests. The market for laboratory disposables is witnessing robust growth due to the increasing number of diagnostic laboratories and the rising preference for point-of-care testing. Additionally, advancements in technology are leading to the development of innovative and cost-effective disposable solutions, further fueling market growth.

The Laboratory Disposables Market faces a challenge with the lack of differentiation among vendors, making it increasingly competitive. To stand out, companies must focus on offering innovative products, enhancing product quality, and providing exceptional customer service. By doing so, they can establish a unique value proposition and gain a competitive edge in the market. Effective marketing strategies and collaborations with key industry players can also contribute to differentiating offerings and expanding market share.

The generation of non-recyclable waste from laboratory disposables is a growing concern in the scientific community. With the increasing usage of single-use plastics and glassware in research facilities, the volume of non-biodegradable waste is escalating at an alarming rate. This trend poses a significant environmental challenge, necessitating the exploration of sustainable alternatives and the implementation of effective waste management strategies in the laboratory disposables market.

Market Research Overview

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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Regional Insights

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.

Research Analysis Overview

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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