Lab Accessories Market Size, Share & Growth | Forecast 2031
Lab Accessories Market Size, Share & Growth | Forecast 2031
Segments - Lab Accessories Market by Type (Label Printer, Pumps, Wash Station, Valve, Microplate, Pipette Tips, and Others), End-user (Original Equipment Manufacturers, Hospitals, Private Labs, Research Institutes, and Academic Institutes), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5059
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Report Description
The global lab accessories market size was valued at USD 527.4 Million in 2022 and is likely to reach USD 770.1 Million by 2031, expanding at a CAGR of 5.1% during the forecast period, 2023–2031. Rising adoption of laboratory systems in drug discovery and clinical examination is anticipated to fuel the market.
Growing research & developments in the medical fields such as biotechnology and pharmaceutical are boosting the demand for lab accessories, as these fields require the latest equipment for effectively performing clinical operations. Furthermore, disease outbreaks and rising healthcare needs all over the world are some of the key factors boosting the dependence on laboratories to advance the medical field. Continuous developments in the lab equipment ensure that there is no shortage in their numbers and there is a stable supply chain. Such factors boost the global lab accessories market. For instance,
- On 27 February 2023, Hamilton Company developed Microlab STAR V, an automated liquid handling platform. It is a combination of their two systems, VANTAGE and STAR. Microlab STAR V provides a powerful and fast experience in a single device.
Advanced lab supplies facilitate the speed of clinical testing and diagnosing, thus there is an increasing demand for innovative lab products among lab technicians and hospitals. Expanding research and development facilities coupled with advances in technologies and machines are driving demand for various lab accessories. This, in turn, boosts the market during the projection period.
The market report finds that the COVID-19 pandemic created growth opportunities in the global lab accessories market. A major revenue share of the market was from the rising sales of testing apparatuses such as microplate, used to detect and confirm the presence of the infectious agent.
Increasing demand for clinical laboratory tests for SARS-CoV-2 was noticed during the pandemic. Sudden disruption in the supply chain caused by the global health crisis did not decline the demand for laboratory accessories, which propelled the market.
Impact of Artificial Intelligence on Lab Accessories Market
AI facilitates the enhancement of several aspects of the laboratory. Integration of artificial intelligence in drug discovery for active learning is likely to boost the market. Innovative lab automation services are required to speedily and accurately carry out drug discovery processes.
With this technology in laboratories, technicians can develop high-quality and updated infrastructure to effectively carry out lab functions such as disease diagnosis, drug discovery, testing, and screening. These factors increase the scope for AI integration in labware and lab accessories, which is anticipated to further propel the market. For instance,
- As per an article published in October 2022, BIOVIA, Dassault Systèmes, a software-providing organization that offers software services to pharmaceutical, bioscience research, and chemical companies, developed an AI integrated technology for small molecule therapeutics design. This technology can be installed in lab equipment services in order to accelerate the drug discovery process and produce high-efficacy drugs.
Lab Accessories Market Dynamics
Major Drivers
High adoption of laboratory automation systems in clinical diagnostics and drug discovery is expected to boost the market. These solutions reduce cost and time and are used in analytical testing, screening, diagnostics, and combinatorial chemistry. There is Increasing popularity for small and handy accessories in modern laboratories, as they allow easy portability, usage, and convenience.
Furthermore, rising government investments and initiatives in healthcare across several countries and high productivity due to the accessories are expected to propel the market during the projection period.
Existing Restraints
High manufacturing costs due to the consistent volatility in the prices of raw materials for setting up a laboratory is expected to hamper the market. Moreover, some lab accessories need to be handled with care and maintained daily. Lack of skilled professionals to handle lab equipment in the laboratory is expected to restrain the market
Emerging Opportunities
Increasing scope for laboratory supplies across various applications including biotechnology companies, educational institutes, and diagnostic centers is expected to create lucrative opportunities in the market. Rising investments in biotechnology activities supported by advanced chemical and biological research are further projected to propel the market.
Scope of Lab Accessories Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Lab Accessories Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Label Printer, Pumps, Wash Station, Valve, Microplate, Pipette Tips, and Others) and End-user (Original Equipment Manufacturers, Hospitals, Private Labs, Research Institutes, and Academic Institutes) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Lab Accessories Market Size and Analysis, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
BD; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Hamilton Company; Brooks Automation; Corning Incorporated; PerkinElmer Inc.; Azenta, Inc.; VISTALAB TECHNOLOGIES, INC.; Endress+Hauser Group Services AG; and Cole-Parmer Instrument Company, LLC |
Lab Accessories Market Segment Insights
Type Segment Analysis
On the basis of type, the lab accessories market is divided into label printer, pumps, wash station, valve, microplate, pipette tips, and others. The wash station segment is expected to expand at a significant pace during the assessment period due to the increasing demand for efficient, high-tech, and effective lab accessories.
The growth of the wash station segment is attributed to the high need for clean and hygienic floors. The Centers for Disease Control and Prevention (CDC) recommends using anti-slip floor mats, which create friction between the floor and the foot to prevent slipping, in turn propelling the market.
Lab technicians require facilities where they can comfortably use wash stations in emergency cases where they do not slip or lose balance, thus, numerous developments are made to ensure high-visibility and anti-slip floors in such cases. For instance
- On 13 April 2023, NoTrax, a leading global floor matting solution provider, introduced a novel 524 eyewash station mat, specifically for usage in eye-washing areas in labs to ensure anti-slip safety. These mats prevent any obstructions while using the washing stations. Such developments are likely to further propel the segment.
The label printer segment is anticipated to hold a key share of the market in the coming years, as it has a wide range of various applications such as retail price marking, blood & laboratory specimen marking, supply chain management, and fixed asset management. Label printers are specially designed for printing individual labels.
End-user Segment Analysis
Based on end-user, the market is segregated into original equipment manufacturers, hospitals, private labs, research institutes, and academic institutes. The research institutes segment is projected to register a CAGR during the forecast period. Additionally, the system accuracy, financial support for research investments, and increased adoption of lab automation systems for R&D purposes are expected to boost the segment.
The hospitals segment is anticipated to account for a major market share in the coming years. Healthcare facilities are providing a wide range of laboratory procedures that aid physicians to carry out the treatment, diagnostics, and management of patients, which is boosting the segment in the market.
Regional Analysis
In terms of region, the global lab accessories market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period due to the presence of numerous hospitals, research institutes, and advanced healthcare infrastructure. Continuously increasing demand for lab accessories in the region is anticipated to fuel the market in North America.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, owing to the rapidly increasing healthcare infrastructure and increasing investment in the healthcare sector. Increasing research and development activities, the presence of leading manufacturers, and continuous demand for lab accessories are fueling the market in the region.
Segments
The lab accessories market has been segmented on the basis of
Type
- Label Printer
- Pumps
- Wash Station
- Valve
- Microplate
- Pipette Tips
- Others
End-user
- Original Equipment Manufacturers
- Hospitals
- Private Labs
- Research Institutes
- Academic Institutes
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- BD
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Hamilton Company
- Brooks Automation
- Corning Incorporated
- PerkinElmer Inc.
- Azenta, Inc.
- VISTALAB TECHNOLOGIES, INC.
- Endress+Hauser Group Services AG
- Cole-Parmer Instrument Company, LLC
Competitive Landscape
Key players operating in the global lab accessories market include BD; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Hamilton Company; Brooks Automation; Corning Incorporated; PerkinElmer Inc.; Azenta, Inc.; VISTALAB TECHNOLOGIES, INC.; Endress+Hauser Group Services AG; and Cole-Parmer Instrument Company, LLC.
These companies adopt strategies such as acquisitions, partnerships, collaboration, mergers, R&D investments, and product launches to boost their market share. For instance,
- On April 11, 2023, BD introduced advanced Ultrasound Technology to aid First-Stick Success for IV Insertions. This technology is easy-to-use and designed to offer clinicians optimal IV placement.
- On 27 February 2023, Hamilton Company introduced Microlab STAR V, an automated liquid handling platform. It is a combination of their two systems, VANTAGE and STAR. Microlab STAR V provides a powerful and fast experience in a single device.
- On February 27, 2023, Azenta, Inc., introd Cryo Store Pico, an innovative automated cryogenic storage system. This system is designed for high-value biological samples that are used in the several stages of life sciences from discovery to clinical use. Azenta is the provider of revolutionary automated cryogenic solutions including BioStore III Cryo and the CryoPod Carrier.
- In June 2021, Bio-Rad Laboratories, Inc. introduced the PREvalence ddPCR SARS-CoV-2 Wastewater Quantification Kit, which can be utilized to detect SARS-CoV-2 presence in any community’s wastewater. The CDC recommends this kit for treating wastewater. The Environmental Protection Agency (EPA) published this technology as a reliable method of quantifying viruses in wastewater.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Lab Accessories Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Lab Accessories Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Lab Accessories Market - Supply Chain
4.5. Global Lab Accessories Market Forecast
4.5.1. Lab Accessories Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Lab Accessories Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Lab Accessories Market Absolute $ Opportunity
5. Global Lab Accessories Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Lab Accessories Market Size and Volume Forecast by Types
5.3.1. Label Printer
5.3.2. Pumps
5.3.3. Wash Station
5.3.4. Valve
5.3.5. Microplate
5.3.6. Pipette Tips
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Lab Accessories Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Lab Accessories Market Size and Volume Forecast by End Users
6.3.1. Original Equipment Manufacturers
6.3.2. Hospitals
6.3.3. Private Labs
6.3.4. Research Institutes
6.3.5. Academic Institutes
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Lab Accessories Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Lab Accessories Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Lab Accessories Demand Share Forecast, 2019-2026
8. North America Lab Accessories Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Lab Accessories Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Lab Accessories Market Size and Volume Forecast by Types
8.4.1. Label Printer
8.4.2. Pumps
8.4.3. Wash Station
8.4.4. Valve
8.4.5. Microplate
8.4.6. Pipette Tips
8.4.7. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Lab Accessories Market Size and Volume Forecast by End Users
8.7.1. Original Equipment Manufacturers
8.7.2. Hospitals
8.7.3. Private Labs
8.7.4. Research Institutes
8.7.5. Academic Institutes
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Lab Accessories Demand Share Forecast, 2019-2026
9. Latin America Lab Accessories Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Lab Accessories Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Lab Accessories Market Size and Volume Forecast by Types
9.4.1. Label Printer
9.4.2. Pumps
9.4.3. Wash Station
9.4.4. Valve
9.4.5. Microplate
9.4.6. Pipette Tips
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Lab Accessories Market Size and Volume Forecast by End Users
9.7.1. Original Equipment Manufacturers
9.7.2. Hospitals
9.7.3. Private Labs
9.7.4. Research Institutes
9.7.5. Academic Institutes
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Lab Accessories Demand Share Forecast, 2019-2026
10. Europe Lab Accessories Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Lab Accessories Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Lab Accessories Market Size and Volume Forecast by Types
10.4.1. Label Printer
10.4.2. Pumps
10.4.3. Wash Station
10.4.4. Valve
10.4.5. Microplate
10.4.6. Pipette Tips
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Lab Accessories Market Size and Volume Forecast by End Users
10.7.1. Original Equipment Manufacturers
10.7.2. Hospitals
10.7.3. Private Labs
10.7.4. Research Institutes
10.7.5. Academic Institutes
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Lab Accessories Demand Share Forecast, 2019-2026
11. Asia Pacific Lab Accessories Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Lab Accessories Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Lab Accessories Market Size and Volume Forecast by Types
11.4.1. Label Printer
11.4.2. Pumps
11.4.3. Wash Station
11.4.4. Valve
11.4.5. Microplate
11.4.6. Pipette Tips
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Lab Accessories Market Size and Volume Forecast by End Users
11.7.1. Original Equipment Manufacturers
11.7.2. Hospitals
11.7.3. Private Labs
11.7.4. Research Institutes
11.7.5. Academic Institutes
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Lab Accessories Demand Share Forecast, 2019-2026
12. Middle East & Africa Lab Accessories Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Lab Accessories Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Lab Accessories Market Size and Volume Forecast by Types
12.4.1. Label Printer
12.4.2. Pumps
12.4.3. Wash Station
12.4.4. Valve
12.4.5. Microplate
12.4.6. Pipette Tips
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Lab Accessories Market Size and Volume Forecast by End Users
12.7.1. Original Equipment Manufacturers
12.7.2. Hospitals
12.7.3. Private Labs
12.7.4. Research Institutes
12.7.5. Academic Institutes
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Lab Accessories Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Lab Accessories Market: Market Share Analysis
13.2. Lab Accessories Distributors and Customers
13.3. Lab Accessories Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. BD
13.4.2. Thermo Fisher Scientific, Inc.
13.4.3. Bio-Rad Laboratories, Inc.
13.4.4. Hamilton Company
13.4.5. Brooks Automation
13.4.6. Corning Incorporated
13.4.7. PerkinElmer Inc.
13.4.8. Azenta, Inc.
13.4.9. VISTALAB TECHNOLOGIES, INC.
13.4.10. Endress+Hauser Group Services AG
13.4.11. Cole-Parmer Instrument Company, LLC
Methodology
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