Lab Accessories Market by Type: Label Printer, Pipette tips, Pumps/Microplate, Reagent Reservoir, Valve, Tubing, Wash Station

Lab Accessories Market report provides a profound overview of product specification, technology, product type, and production analysis considering major factors such as revenue, cost, and gross margin. Competitor analysis is one of the most important aspects of a market research report which helps businesses decide upon the strategies by comparing them with the competitors. This Lab Accessories Market report identifies and analyses the emerging trends along with major drivers, inhibitors, challenges, and opportunities in the market. In this era of globalization, the whole world is the marketplace and hence businesses seek to adopt a global market research report.

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The dearth of qualified laboratory professionals(over 17% of laboratory professionals are set to retire in the next five years) and rising aging population have increased the demand for laboratory automation.The application of advanced technology in testing laboratories has gained importance as it ensures timely progress and efficiency with minimal errors. This has led to the adoption of lab automation in high-throughput screening, combinatorial chemistry, automated clinical and analytical testing, diagnostics, and large-scale bio repositories. However, high capital expenditure required for laboratory automation, higher level of maintenance required as compared to manually operated machines, and lower flexibility in terms of products as compared to that of manual systems are some of the restraining factors that may hinder the growth of this market.

The wash stations products segment dominated the laboratory automation accessories market,and was valued at $91.6 million 2014. Geographically, the laboratory accessories market is dominated by North America, which accounted for the largest share—42%—of the market. The implementation of the Affordable Care Act in the U.S. is expected to have a positive impact on the laboratory accessories market in this region. Europe accounted for the second-largest share of the market. The new EU Framework “Horizon 2020” as a part of its EU budget proposal for 2014 to 2020 proposed by the European commission is considered to boost research and innovation in this region. A significant part (9.7%) of the proposed budget will be allocated to research in the fields of healthcare, demographic changes, and well-being of the population, which provides financial strength to testing laboratories and research centers for adopting laboratory automation.

However, Asia is the fastest-growing region of the laboratory accessories market. This market is expected to grow at a CAGR of 11.8% during the forecast period. The growth of this market can be attributed to the governments of China, South Korea, and Singapore that significantly focus on the biotechnology industry. For instance, the government of China has provided a funding of an estimated $300 billion to its biotechnology sector as a part of its 12th five-year plan (2011–2015), and the government of South Korea invested ~$1.43 billion for its Bio-Vision 2016 program. These regions are considered to be the revenue pockets for the evolving laboratory accessories market.

The global laboratory accessories market is highly competitive with the presence of many big and small firms. These companies adopt various strategies (innovation, acquisitions, and geographic expansions) to increase their market shares and to establish a strong foothold in the global market.

Reasons to Buy the Report:

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them to achieve a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios and services offered by the top players in the laboratory accessories market. It provides detailed insights of the market trends and factors contributing to the growth of the market

Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the laboratory accessories market

Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the laboratory accessories market across geographies

Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the laboratory accessories market

Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the laboratory accessories market

Lab Accessories Market is a professional and complete report focusing on primary and secondary drivers, market share, competitor analysis, leading segments, and geographical analysis. This market research report has been structured by thoroughly comprehending the specific requirements of the business. Further, for an unequivocal and better understanding of facts and figures, the data is symbolized in the form of graphs, tables, and charts. This Lab Accessories Market report gives a list of key competitors with the required specifications and also provides strategic insights and analysis of the key factors influencing the Medical Devices industry.

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