Laboratory Glassware Market size is slated to record significant revenue gains between 2023 and 2032, powered by significant advancements in the global pharmaceutical sector along with the thriving popularity of glass among chemists and research scientists in laboratories.
The increasing demand for high-quality produced glass labware and the optimum rate of industrialization are other factors outlining the market expansion. For instance, the 100-year-old PYREX brand owned by renowned industry leader Corning Incorporated continues to fulfill the stringent requirements of the chemical research and vaccine manufacturing industries.
The rising instances of research in genomics and the ongoing development of lightweight laboratory products to offer high thermal resistance will also play an essential role in driving the market forecast. The COVID-19 pandemic had a negative influence on this business avenue with the imposition of the lockdowns. However, as the number of R&D activities for drug discovery and development increased, the demand for laboratory glassware also gained strong ground. The increasing use of various glassware for the development of novel tests and vaccinations, as well as a possible treatment for the virus further boosted the market forecast.
Based on product, the laboratory glassware market share from the test tube segment will significantly expand through 2032 with steady utility in academic institutions and research laboratories. The growth can also be attributed to the rising adoption by biologists for culturing and handling a variety of organisms, fluids, and substances. Several chemists also utilize test tubes for mixing and heating chemicals as they offer excellent temperature tolerance and chemical resistance. The growing demand for heating chemicals that operate at wide temperature ranges will also boost product adoption.
With respect to end-user, the laboratory glassware industry share from research and academic institutes is set to rise considerably in the forecast timeframe, ascribing to the rising number of scientific research activities worldwide. Laboratory plasticware is economical and can be easily shaped into different forms. Pipettes, for instance, are increasingly being used in chemical and biological research applications in academic labs. The thriving concerns over the optimum use of hazardous materials in laboratories and the subsequent popularity of leak-proof plastic containers will add impetus to the market development.
Regionally, North America laboratory glassware market will showcase significant growth up to 2032, owing to the strong presence of key manufacturers in the region, including Thermo Fisher Scientific Inc., Yamato Scientific America Inc., Smeg S.p.A, and STERIS Corporation. The growing emphasis on well-developed infrastructure has resulted in rising healthcare costs in the region. According to the Centers for Medicare & Medicaid Services, national health spending in the U.S. is predicted to exceed $6.2 trillion by 2028. The increasing number of diagnostic tests and the higher utilization of laboratory consumables are pushing technical breakthroughs in laboratory glassware production, driving regional market trends.
Rose Scientific Ltd., Corning Incorporated, Acumen Labware, BOECO Germany, DWK Life Sciences, SciLabware Ltd., Paul Marienfeld GmbH & Co. KG, Bellco Glass, BOROSIL, and SOMATCO are some major laboratory glassware market participants worldwide. To acquire a larger consumer base, these companies are placing efforts on inorganic marketing ventures such as capacity expansions, acquisitions, and partnerships along with various additional rebranding and growth-driven tactics.