Worldwide Laboratory Supplies Market to 2025 - by Offering, End-user and Geography
DUBLIN, June 5, 2020 /PRNewswire/ -- The "Laboratory Supplies Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The laboratory supplies market was valued at US$30.121 billion in 2019. Global spending on R&D has reached a record high of almost US$ 1.7 trillion.
About 10 countries account for 80% of spending. As part of the Sustainable Development Goals (SDGs), countries have pledged to substantially increase public and private R&D spending as well as the number of researchers by 2030. Moreover, there have been continuous investments to fuel the expansion of R&D facilities, especially life sciences, across the globe. With rising healthcare expenditure and growing incidence of rare and orphan diseases, the life sciences industry is under great pressure to increase the speed of drug discovery and development. This, in turn, is escalating the demand for laboratory supplies worldwide, thereby driving the market growth.
Increasing investments by governments to improve the education sector so as to generate a great pool of talent is also supporting the expansion of research laboratories across the education sector, thus positively impacting the market growth of laboratory supplies. For example, in March 2019, the Canadian government provided funding of $763 million for the Canada Foundation for Innovation (CFI) over the next five years and $462 million per year starting in 2023-24. This investment will allow CFI to continue to support researchers by investing in advanced labs and research equipment in Canadian universities, colleges, and research hospitals while creating a new generation of researchers.
The recent COVID-19 global pandemic outbreak has caused a sudden spike in the demand for laboratory supplies across the globe, thus creating a dire shortage. Many affected countries are facing dwindling supplies of both chemical components and basic swabs needed to collect patient samples. In order to fill this demand-supply gap, companies are focusing on the possible capacity expansion and playing their role in battling this global pandemic. The Dutch diagnostic manufacturer Quiagen is planning to scale up the production of the RNA test reagents, that are being used to perform certain COVID-19 diagnostics, to support more than 10 million coronavirus tests per month by the end of June.
The company hopes to deliver the chemical reagent for more than 20 million monthly tests by the end of the year through its production sites in the United States and Europe. Novacyt has collaborated with GSK, AstraZeneca, and the University of Cambridge to establish a new testing laboratory as part of the UK government's five-pillar plan regarding the testing of COVID-19. The lab is being used for screening of coronavirus testing and the analysis of alternative chemical reagent use for test kits in order to mitigate supply shortages. Moreover, governments are also relaxing regulations and guidance in order to increase the number of patients being tested per day so as to prevent the further spread of this disease. For example, On February 28, the FDA (U.S. Food and Drug Administration) declared the EUA (emergency use authorization) process to high-complexity CLIA labs to meet the burgeoning demand for clinical testing. With commercial labs also involved in testing and pursuing emergency use under these guidelines, the demand for laboratory supplies continues to increase in the country.
Laboratory supplies market is segmented by offering, end-user, and geography. By offering, the global Laboratory supplies market is segmented into chemicals and reagents, kits, and consumables. By end-user, the market is segmented into government, life sciences, industrial, and others.
North America holds a significant market share throughout the forecast period
Geographically, the Laboratory Supplies market is segmented as North America, South America, Europe, the Middle East, and Africa (MEA), and Asia Pacific (APAC). North America accounted for a decent market share in 2019. Growing R&D spending across various sectors, especially pharmaceuticals and chemicals in the U.S. are significantly augmenting the demand for laboratory supplies across the region. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), the U.S. pharmaceutical R&D expenditure has increased from $2 million in 1980 to more than $70 million in 2017. The rising expansion of research facilities in Mexico is also contributing to the market growth of laboratory supplies in North America. In August 2019, global cosmetic manufacturer Avon opened a new state-of-the-art research and development facility in Mexico to support its Celaya plant in order to ramp up the development of products targeting the Mexican market. Europe is also one of the leading regional markets for laboratory supplies vendors owing to the continuous rise in the number of R&D projects across the region. Increasing funding to expand the R&D hub across the European region is also supporting the growing demand for laboratory supplies in the region. For instance, the European Union research budget has grown from 3.8 billion for 1984-87 to 100 billion for 2021-27.
Competitive Insights
Prominent key players in the laboratory supplies market include Lab Connections, Th. Geyer GmbH & Co. KG., Thermo Fisher Scientific, Spectrum Chemical Manufacturing Corp., Ing. Petr vec - PENTA s.r.o., and Scientific OEM among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Laboratory Supplies market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Laboratory Supplies Market Analysis, By Offering
5.1. Introduction
5.2. Chemicals and Reagents
5.3. Kits
5.4. Consumables
6. Laboratory Supplies Market Analysis, By End User
6.1. Introduction
6.2. Government
6.3. Life Sciences
6.4. Industrial
6.5. Others
7. Laboratory Supplies Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.2.1. North America Laboratory Supplies Market, By Offering, 2019 to 2025
7.2.2. North America Laboratory Supplies Market, By End User, 2019 to 2025
7.2.3. By Country
7.2.3.1. USA
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Laboratory Supplies Market, By Offering, 2019 to 2025
7.3.2. South America Laboratory Supplies Market, By End User, 2019 to 2025
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Laboratory Supplies Market, By Offering, 2019 to 2025
7.4.2. Europe Laboratory Supplies Market, By End User, 2019 to 2025
7.4.3. By Country
7.4.3.1. Germany
7.4.3.2. France
7.4.3.3. United Kingdom
7.4.3.4. Spain
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Laboratory Supplies Market, Offering, 2019 to 2025
7.5.2. Middle East and Africa Laboratory Supplies Market, By End User, 2019 to 2025
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. UAE
7.5.3.3. Israel
7.5.3.4. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Laboratory Supplies Market, By Offering, 2019 to 2025
7.6.2. Asia Pacific Laboratory Supplies Market, By End User, 2019 to 2025
7.6.3. By Country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. South Korea
7.6.3.4. India
7.6.3.5. Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Lab Connections
9.2. Th. Geyer GmbH & Co. KG.
9.3. Thermo Fisher Scientific
9.4. Spectrum Chemical Manufacturing Corp.
9.5. Ing. Petr vec - PENTA s.r.o.
9.6. Scientific OEM
For more information about this report visit https://www.researchandmarkets.com/r/b1wwn1
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/worldwide-laboratory-supplies-market-to-2025---by-offering-end-user-and-geography-301071450.html
SOURCE Research and Markets
