NEW YORK, Oct. 3, 2016 /PRNewswire/ -- The laboratory glassware and plasticware market is expected to reach at USD 6.0 billion by 2020 from USD 4.99 billion in 2015 at CAGR of 3.7%. Technological advancements and cost effectiveness of plasticware will boost the growth of the laboratory glassware and plasticware market.
The glassware market is segmented into pipettes and pipette tips, storage containers, beakers, flasks, and petri dishes. The pipettes and pipette tips segment is expected to account for the largest share of the laboratory glassware market in 2015. Glass pipettes are easy to autoclave and thus are widely used in academic institutes and research laboratories.
The plasticware market is segmented into pipettes and pipette tips, storage containers, beakers, and flasks. The pipettes and pipette tips segment is expected to account for the largest share of the market and is expected to witness the highest growth during the forecast period. Plastic pipettes are breakage-free and do not chip when handling hazardous chemicals and chemical substances.
Based on end users, the laboratory glassware and plasticware market is segmented into research and academic institutes, contract research organizations, hospitals and diagnostic centers, pharmaceutical and biotechnology industries, and food and beverage industry. Research and academic institutes are expected to dominate this market in 2015. The large share of this segment can majorly be attributed to the increasing demand for glassware and plasticware in research and academic institutes owing to their high focus on the development of innovative products.
North America is expected to account for more than 40% of the laboratory glassware and plasticware market in 2015. In this region, R&D studies make use of laboratory glassware and plasticware on a large scale, which is a major factor responsible for the large share of North America in this market. However, in the coming years, the Asia-Pacific market is expected to witness the highest growth owing to the rising outsourcing activities in research and manufacturing as a result of low costs and access to skilled labor in this region.
The increasing demand for plasticware, cost-effectiveness of plasticware, and technological advancements in plasticware are the major factors driving market growth. On the other hand, the brittle nature of glass (resulting in low preference for glassware) and lack of funds (resulting in fewer research activities, thus affecting both glassware and plasticware markets) are the major market restraints. Specialty glass, however, is expected to offer growth opportunities for market players during the forecast period.
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends); market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the laboratory glassware and plasticware market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on galley equipment offered by the top players in the global laboratory glassware and plasticware market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the laboratory glassware and plasticware market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for laboratory glassware and plasticware across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global laboratory glassware and plasticware market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global laboratory glassware and plasticware market
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