The labware market is an extremely complex one. There are miscellaneous products to meet the demands of both clinical and industrial labs. As a trend now, many labs all over the world are utilizing new ‘open labs’ that allow researchers to share equipment and resources in the laboratory. Equipment is extremely expensive and open labs allow access to many people at a reduced cost to both the scientists and the lab.
China, so far the second largest market in Asia for lab equipment and is one of the fastest moving markets in the world, growing about 20% per year.
The market is in great need of higher quality equipment and time-saving, autoprecision device. This is leading to manufacturing outsourcing to developing economies.
There is intense competition and general labware market movers face significant challenges as the scope of innovations is comparatively limited in this segment. So, to counter atleast some challenges, recycling is being used as an option - another simple, yet very important concept which has been largely emphasized on and should not be overlooked. It’s a popular concept indeed; since the global environment is gradually becoming more eco-friendlier and it is wise to dispose off used containers and equipment to ensure they are following environmental, health and safety guidelines alongside other responsibilities. Buying recycled lab instruments and supplies also keeps the cycle going, they are safe and they are less expensive.
The manufacturers of lab instruments & supplies or stakeholders, range from electronics to glassware and from huge multinationals to small regional outfits.
This graph shows the market for general labware into four geographic segments--North America, Europe, Asia and the rest of the world (ROW). North America claimed the mightiest share, announcing its growth to be nearly 2.2 billion in 2017 from $1.4 billion in 2012. The European segment possessed the second-largest share – upto a $1.7 billion in 2017 from $1.0 billion in 2012.
The purpose of this article is to benefit entrants and manufacturers of glass and plastic labware industries, life sciences companies as well as research institutes, associations and academicians; making them aware of alternate options and new trend, turning out to be competition for them – around the world. They should be able choose wisely which lab instruments & supplies they will produce, in what quantities and the impact on the environment.
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