Laboratory Chemicals Market Outlook 2031
The Laboratory Chemicals Market was USD 3.50 Billion in 2022 and is likely to reach USD 5.62 Billion by 2031, expanding at a CAGR of 5.4 % during 2023 – 2031.
Growth of the market is attributed to rapid urbanization, increasing overall efficiency & productivity for enterprises, and increasing demand for methyl isobutyl ketone in synthesis of anti-ozonate additives rubber.
For preparation of drugs & other chemicals, performing experiments, and investigative procedures the chemicals that are used are known as laboratory chemicals.
The Covid-19 pandemic affected the demand and supply of laboratory chemicals market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Laboratory Chemicals Market Outlook Market Trends, Drivers, Restraints, and Opportunities
- Rising usages of chemicals in waste water treatment is projected to boost the market.
- Increasing usages of chemicals in industrial process is the major factor fueling the market.
- Lack of awareness about the laboratory chemicals is projected to restrict the market expansion during the forecast period.
- Strict regulations on chemicals usages are anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in laboratory chemicals market is projected to offer lucrative opportunities for the market players
Scope of Laboratory Chemicals Market Outlook Report
The report on the laboratory chemicals market 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
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Details
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Report Title
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Laboratory Chemicals Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016-2021
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Forecast Period
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2023-2031
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Segmentation
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Types (Biochemistry, Molecular Biology, Environmental Testing, Cytokine & Chemokine Testing, Cell & Tissue Culture, Carbohydrate Analysis, Immunochemistry, and Other Types), Applications (Education, Healthcare, Industrial, Government, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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UJIFILM Wako Chemicals; R & D Systems; Nova Chemica SRL; Mitsubishi Rayon Co. Ltd.; Merck KGaA; GE Healthcare; BiosYnth SRL; BD Bioscience; Carlo Erba Reagents SRL; Avantor Inc.; Beckman Coulter Inc.; ITW Reagents Division; Meridian Life science Inc.; Morphisto GmbH; PerkinElmer Inc.; and Sigma-Aldrich Corp.
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Laboratory Chemicals Market Segment Insights
The cell & tissue culture segment accounts for key share of the market
On the basis of types, the laboratory chemicals market is fragmented into biochemistry, molecular biology, environmental testing, cytokine & chemokine testing, cell & tissue culture, carbohydrate analysis, immunochemistry, and other types. The cell & tissue culture segment accounts for a key share of the market.
Growth of the market is attributed to increasing awareness among consumers and increasing research & development activities in laboratory chemicals. However, the biochemistry segment is anticipated to expand at a rapid pace during the forecast period due to increasing per capita income, rising demand for chemicals for distillation & recrystallization process, and rapid development in industrial sector.
The industrial segment is anticipated to hold significant market share
Based on applications, the market is divided into education, healthcare, industrial, government, and others. The industrial segment accounts for a significant share of the market. Growth of the market is attributed to rapid development in laboratory infrastructure and rapid innovations in laboratory chemicals. The healthcare segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising investment by private sectors, rapidly changing lifestyle, rapidly growing population, and rising number of small & medium industry.
Europe is estimated to hold major market share
On the basis of region, the laboratory chemicals market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is estimated to expand at a high CAGR during the forecast period due to factors such as presence of major market players and rapid economic growth in region. The market of Europe is estimated to hold major market share due to rapidly growing number of working people, rapid advancement in technology such as recombinant DNA & cell culture, and rapid industrialization.
Segments
The laboratory chemicals market has been segmented on the basis of
Types
- Biochemistry
- Molecular Biology
- Environmental Testing
- Cytokine & Chemokine Testing
- Cell & Tissue Culture
- Carbohydrate Analysis
- Immunochemistry
- Other Types
Applications
- Education
- Healthcare
- Industrial
- Government
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- UJIFILM Wako Chemicals
- R & D Systems
- Nova Chemica SRL
- Mitsubishi Rayon Co. Ltd.
- Merck KGaA
- GE Healthcare
- BiosYnth SRL
- BD Bioscience
- Carlo Erba Reagents SRL
- Avantor Inc.
- Beckman Coulter Inc.
- ITW Reagents Division
- Meridian Life science Inc.
- Morphisto GmbH
- PerkinElmer Inc.
- Sigma-Aldrich Corp.
Competitive Landscape
Key players competing in the laboratory chemicals market include UJIFILM Wako Chemicals; R & D Systems; Nova Chemica SRL; Mitsubishi Rayon Co. Ltd.; Merck KGaA; GE Healthcare; BiosYnth SRL; BD Bioscience; Carlo Erba Reagents SRL; Avantor Inc.; Beckman Coulter Inc.; ITW Reagents Division; Meridian Life science Inc.; Morphisto GmbH; PerkinElmer Inc.; and Sigma-Aldrich Corp.
Some of these players are using several market strategies such as product launches, capacity expansion, merger, acquisitions, collaborations, and partnerships to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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