Laboratory Glassware Market Size is expected to witness robust growth from 2022 to 2028 on account of the significant advancements in the pharmaceutical sector and the rapidly rising healthcare expenditure worldwide. The growing emphasis of students on bringing innovative solutions in biomedical science has made way for the thriving need for laboratory glassware instruments. Increasing research in genomics and the ongoing development of lightweight laboratory products to offer high thermal resistance along with the expanding government support will enhance the industry outlook.
Laboratory glassware can be regarded as a large variety of equipment used for storing chemicals, including solid or liquids, transferring chemicals for making solutions, and reagents, among others. They offer properties such as heat, chemicals, corrosion, and temperature resistance. The rising number of clinical research laboratories, mainly in India and China along with the significant strides in the petrochemistry, and polymer chemistry industries will drive the laboratory glassware market growth.
Based on products, the laboratory glassware market share from the test tube segment will substantially grow with consistent utility in academic institutions and research laboratories. On account of their high temperature withstanding capabilities and chemical resistance, test tubes are largely used by chemists for mixing or heating chemicals. They are also utilized by biologists for culturing and handling several organisms, fluids, and samples. Increasing adoption for heating chemicals at a varying range of temperatures will add positive impetus to the segment expansion.
With regards to end-user, the demand for laboratory glassware in research and academic institutes is set to rise considerably driven by the shifting emphasis on innovations and the surging number of research activities. A large number of diverse types of laboratory equipment are extensively adopted in routine scientific research applications in research centers and universities. There is a growing usage of pipettes in various chemistry as well as biological research applications in university labs. The rising count of pharmacy and biotechnology academic institutions is another prominent factor aiding the industry expansion.
Regionally, the North America laboratory glassware market will gain momentum between 2022 and 2028 owing to the growing number of R&D investments, mainly in the U.S. The increasing emphasis on well-developed infrastructure has led to escalating healthcare expenditure. According to the Centers for Medicare & Medicaid Services, the National health spending is expected to cross $6.2 trillion in the U.S. by 2028. The surging count of diagnostic tests and the growing adoption of laboratory consumables have made way for the rise in technological advancements. The strong presence of leading laboratory glassware manufacturers in the region is another trend driving the market growth.
Corning Incorporated, BOECO Germany, Acumen Labware, SciLabware Ltd., Rose Scientific Ltd., DWK Life Sciences, Paul Marienfeld GmbH & Co. KG, BOROSIL, Bellco Glass, and SOMATCO are some major laboratory glassware market participants.
These firms are constantly resorting to inorganic marketing strategies, including capacity expansions, acquisitions, and partnerships for an enhanced customer base. They are also working on several other rebranding and growth-driven strategies to achieve competitive benefits.
For instance, in October 2020, DWK Life Sciences, acquired Müller + Müller, a renowned German packaging material manufacturer for the pharmaceutical industry, in order to cater to the growing customer needs whilst advancing its pharmaceutical packaging portfolio.
In another instance, in July 2020, SciLabware Ltd. rebranded itself to DWK Life Sciences Ltd. in a bid to take the next step to align the company with the DWK Life Sciences Group.
The COVID-19 crisis had a profoundly negative impact on the business landscape, ultimately hampering the global economy. However, the demand for laboratory glassware saw lucrative growth considering the rising number of R&D activities for drug discovery and development. The growing adoption of various glassware for the introduction of new tests and vaccines as well as a possible cure to treat the virus also added an edge to the market forecast.
Market, by Product Type
Market, by End-Use
The above information is provided for the following regions and countries: