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Global Lab Consumables Category
Reagents & Chemicals
Disposable…
Global Lab Consumables Category
- Reagents & Chemicals
- Disposable Syringes & Needles
- Pipette & Pipette Tips
- Storage boxes, Sample Bags & Containers
- Disposable Wearable Consumables
- Others ( Swabs, filter paper and other)
:star:Market Insights
:check:Marker Overview
MARKET SIZE
2017- $10.3 B
2022- $13.1 B
CAGR- 4.93%
Major Growth Drivers
- The pharma and biotechnology industries in India and China have noticed significant growth.
- Increased spending in R&D by governments and private organizations in drug discovery, clinical research, and diagnostics
- increased outsourcing of manufacturing and distribution by suppliers to developing nations in APAC and South America.
- Buyers increasingly outsourcing diagnostics and clinical research services.
MARKET SIZE BY GEOGRAPHY
- North America: 35% share with 6-6.5% growth..presence of Multiple ROs and Diagnostics Laboratories. Huge Government spending on R&D
- Europe: 31% share with 5% growth..similar factors as North America
- APAC: 27% Share with 8% growth..growth in pharma and biotech industry
- South America: 5% Share with the stagnant growth of 3-4% because of limited presence of large-scale manufacturers and suppliers.
- MEA: 2% share with low growth because of lack of suppliers and distributors
PRODUCTION HUBS:
- Currently US and Germany are the largest producers in the world due to presence of market leaders, that is again a result of presence of many research organizations that re engaged in drug discovery, diagnostics and molecular biology.
- Slowly the major manufacturers are shifting their operations to APAC countries like china and India due to low manufacturing costs and less stringent regulations.
:check:Major Trends
:checkered_flag:Increasing Innovation in Automation and Connectivity Technology for Reducing Rate of Errors
- Top suppliers are spending a huge amount of money to fuel the innovative discoveries to stay ahead of the competition.
- Small companies solely rely on their innovation to sell their product against their large competitors.
- Impact is maximum in US and Europe because of strong economic growth and high government spending in R&D
:checkered_flag:Rising Preferences for Outsourcing of Product Manufacturing and Distribution to Subcontract Organizations
- Suppliers are saving significant costs which is achieved throughout sourcing the manufacturing and distribution operations to developing countries.
- The impact is maximum in NA and EUROPE because major players are from US and Europe who are shifting their operations to asian countries
:checkered_flag:Increased Acquisitions and Mergers
- Growth through increased investments in R&D and acquisitions of competitors with innovative tech.
- The impact is most visible in APAC because the regional players are being acquired by global players to strengthen the distribution network to support high growth.
:check:Porter's
5 Force
Bargaining Power of Suppliers: Moderate :!:
- Supplier Market is highly fragmented with abundance of suppliers.
Bargaining Power of Buyers: High
- Fragmented Market
- Mostly Bulk purchases
- Low Switching Cost
Threat of Rivalry: High
- Many big companies and competing fiercely through heavy investment in innovation and R&D
Threat of Substitutes: Low
- At present there is no alternative of lab equipments
Threat of new Entrants: Low
- Stringent Regulations
- Heavy Investments are needed
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