Global Lab Consumables and Supplies Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lab Consumables and Supplies Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Laboratory consumables refer to products that are used in the laboratory and are only intended to be used, discarded and replaced (i.e., disposable) or disposed of as usual. The range of laboratory consumables is very wide, including glassware, disposable products, safety gear, gas, reagents and media and other products. Laboratory supplies are used for controlled and precise testing, research and experimentation in the laboratory, and generally can be used multiple times. These include laboratory utensils, laboratory trays and laboratory trays for transporting, storing and preserving materials in the laboratory. Laboratory supplies are used to accurately and efficiently measure, mix, sort, process, distribute and analyse laboratory materials.

Market Overview:

The latest research study on the global Lab Consumables and Supplies market finds that the global Lab Consumables and Supplies market reached a value of USD 31886.0 million in 2022. It’s expected that the market will achieve USD 48391.46 million by 2028, exhibiting a CAGR of 7.2% during the forecast period.

Influence of COVID-19 Outbreak on Lab Consumables and Supplies Industry Development

COVID-19 prompts a surge in demand
The recent outbreak of the COVID-19 global pandemic has caused a sudden surge in global demand for laboratory supplies, causing severe shortages. Under the influence of the epidemic, clinical laboratories have experienced major technological advances. With the in-depth research and development in the field of disease pathogenesis and personalized medicine, advanced diagnostic methods and tests are being widely implemented. Improvements in instrument technology continue to bring real benefits. These benefits come from easier use, greater capacity, faster analysis, higher accuracy, higher operational efficiency, higher reliability, higher security, and many other intangible assets. It is the advancement of laboratory technology that has also driven the progress of the consumables and supplies market. Many affected countries are facing the problem of reducing the supply of chemical components and basic drug swabs needed to collect patient samples. In order to fill this gap in supply and demand, the company will focus on possible capacity expansion and play a role in the fight against global pandemics. The Dutch diagnostic manufacturer Quiagen plans to expand the production of RNA testing reagents for certain COVID-19 diagnosis to support more than 10 million coronavirus tests per month by the end of June. The company hopes to provide chemical reagents for more than 20 million tests per month through its production bases in the United States and Europe by the end of this year. Novacyt has partnered with GSK, AstraZeneca and the University of Cambridge to establish a new testing laboratory as part of the British government's five-pillar plan for COVID-19 testing. The laboratory is used to screen coronavirus tests and analyze alternative chemical reagents used in the test kits to alleviate supply shortages. In addition, the government is also relaxing regulations and guidance to increase the number of patients undergoing daily inspections to prevent the further spread of the disease. For example, on February 28, the FDA (U.S. Food and Drug Administration (FDA) announced the EUA (Emergency Use Authorization) process to highly complex CLIA laboratories to meet the increasing demand for clinical testing. Due to commercial laboratories It is also involved in testing and pursuing emergency uses according to these guidelines, so the country’s demand for laboratory supplies continues to grow.

Strength

Driven by the epidemic, research and development activities in the fields of biotechnology and pharmaceuticals
The use of laboratory consumables can speed up analysis, thereby adding value to the laboratory itself by increasing the capacity of the instrument and allowing more tests to be performed every day
Due to technological progress, developing countries’ awareness of advanced supplies has increased, the number of laboratories has increased, and equipment has become more widely available

Weakness

The lack of technologically advanced laboratories in certain countries hinders market growth
Compliance with certain regulatory requirements related to different regions of the world is a factor limiting market growth
Due to the cost associated with raw materials, the high cost associated with manufacturing

Opportunities

With the increase in government funding for universities, the revenue of the laboratory supplies wholesale industry is expected to grow at a faster rate, allowing scholars to conduct more research in a wider range of interests
The increase in the number of clinical diagnostic procedures and the increase in private and public healthcare investment, as well as the corresponding increase in research related to life sciences and biotechnology

Threat

Turnover difficulties and high purchase costs caused by the epidemic have reduced the adoption rate
Delays in public and private funding in Japan and Europe
The adverse effects of currency fluctuations in emerging countries such as Europe, Japan and India, Brazil and Mexico

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Thermo Fisher Scientific, Agilent Technologies, Inc., Avantor, Inc., Corning Inc. and Mettler-Toledo International Inc. are the five key players in the global Lab Consumables and Supplies market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Lab Consumables and Supplies market in the past 5 years.

Thermo Fisher Scientific, Inc. manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.

Agilent Technologies, Inc. provides core bio-analytical and electronic measurement solutions to the communications, electronics, life sciences, and chemical analysis industries. The Company offers electronic and bio-analytical measurement, semiconductor, and board testing.

Segmentation Overview:

Among different product types, General Labware segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Pharmaceutical Industry segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Lab Consumables and Supplies market covered in Chapter 3:

Avantor, Inc.
Thermo Fisher Scientific
Eppendorf
LabGeni
Membrane Solutions LLC
Mevid
Agilent Technologies, Inc.
ZHEJIANG RUNLAB TECHNOLOGY CO., LTD.
Sorfa Life
Lohand Biological
Wuxi NEST Biotechnology
Celltreat Scientific
Corning Inc.
Mettler-Toledo International Inc.
Guangzhou Jet Bio-Filtration Co., Ltd.
Genesee Scientific

In Chapter 4 and Chapter 14.2, on the basis of types, the Lab Consumables and Supplies market from 2018 to 2029 is primarily split into:

Safety and Cleaning
General Labware
Sampling and Cell Culture
Life Science Labware
Sample Preparation

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lab Consumables and Supplies market from 2018 to 2029 covers:

Pharmaceutical Industry
Research Organizations and Institutes
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)