Global Laboratory Glassware and Plasticware Market, by Product Type (Glassware and Plasticware), by End User (Hospitals and Diagnostic Centers, Pharma and Biotech Industries, Research and Academic Institutes, and Contract Research Organizations), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 5,473.3 million in 2017 and is projected to exhibit a CAGR of 3.7% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing number of research in biotechnology and pharmaceutical industries to augment the market growth
Increasing number of research in biotechnology and pharmaceutical industries and increase in biology and biotechnology research including disease research, stem cells research, and vaccine development boost the laboratory glassware and plasticware market. The disease like cancer has a major impact on society in the U.S. and across the world. According to national cancer institute, in 2018, an estimated 1,735,350 new cases of cancer are diagnosed and in the same year 609,640 people died from the disease in the U.S.
Furthermore, packaging in vials is done for processing of small batches such as orphan drugs, personalized medicines, which facilitate and accelerate the filling of these products. For instance, in March 2016, Pall launched Pyrofree Sterile, ready to use glass vials, which allow flexible filling from 2 mL to 20 mL. These vials are used in vaccines, biotechnology, and pharmaceutical industries and in hospitals.
Moreover, in August 2018, INTEGRA Biosciences AG developed electronic pipettes to follow standard operating procedures (SOP) and good laboratory practices (GLP). These pipettes make it easy to keep track of calibration schedules with built-in audiovisual alarms and allow to maintain standard operating procedures directly into the pipette and also allows password protection for various aspects of the pipette.
Browse 28 Market Data Tables and 22 Figures spread through 148 Pages and in-depth TOC on “Global Laboratory Glassware and Plasticware Market”- Global Forecast to 2026, by Product Type- Glassware and Plasticware ), by End User (Hospitals and Diagnostic Centers, Pharma and Biotech Industries, Research and Academic Institutes, and Contract Research Organization), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Acquisitions and mergers, product launches, and regulatory approvals are some of the factors, which drive the global laboratory glassware and plasticware market. For instance, in Feb 2019, Andrew Alliance S.A. and Sartorius announced the launch of the Andrew Alliance pipette, which uniquely provides traceability and improved repeatability in manual pipetting. The collaboration of Andrew Alliance S.A. and Sartorius, reflects the strategic investment, which improves and simplifies the complex and time consuming workflows.
Key Takeaways of the Global Laboratory Glassware and Plasticware Market:
- The global laboratory glassware and plasticware market is expected to exhibit a CAGR of 3.7% over the forecast period, owing to increasing number of biotech and pharmaceutical research and increasing prevalence of chronic diseases
- Among the product type, laboratory plasticware segment held dominant position in the global laboratory glassware and plasticware market in 2018, owing to innovations in techniques opted by key players for manufacturing the effective glassware
- Among end user, research and academic institutes segment held dominant position in the global laboratory glassware and plasticware market in 2015, owing to the increasing number of experiments performed or drug development experiments performed in research and academic institutes
- Companies operating in the global laboratory glassware and plasticware market include Corning, Inc., Duran Group, Vitlab, Thermo Fischer Scientific, Mettler Toledo International, Inc., Gerresheimer AG, Bellco Glass, Inc., Crystalgen, Inc., Sartorius AG, Eppendorf AG, and Technosklo Ltd.