The laboratory glassware and plasticware market size has demonstrated steady growth in recent years, increasing from $6.09 billion in 2023 to $6.35 billion in 2024, representing a compound annual growth rate (CAGR) of 4.2%. This growth during the historic period can be attributed to heightened demand for plasticware, a rise in the prevalence of chronic diseases, expansion of research facilities, increased research activities, and growing investments in the healthcare sector. Looking ahead, the laboratory glassware and plasticware market is projected to continue its steady growth, reaching $7.50 billion in 2028 at a CAGR of 4.3%. Factors contributing to this forecasted growth include increasing funding in research and development across various industries, the expansion of healthcare infrastructure, growth in biopharmaceutical industries, rising adoption of automated lab systems, and a growing demand for personalized medicine. Key trends influencing this period include advancements in eco-friendly and recyclable materials, the integration of smart technologies, innovations in personalized solutions, enhancements in automated lab systems, and the evolution of online sales channels.
Major Driver In The Laboratory Glassware And Plasticware Market
The increase in the number of diagnostic laboratories is projected to drive the growth of the laboratory glassware and plasticware market in the future. Diagnostic laboratories perform various tests and analyses on biological samples to assist in disease diagnosis and treatment. The rising number of diagnostic laboratories is fueled by the increasing prevalence of chronic diseases, advancements in diagnostic technologies, and the growing demand for early and accurate medical testing. Essential tools provided by laboratory glassware and plasticware facilitate precise measurement, mixing, and storage of samples and reagents for accurate and reliable testing, including blood tests, chemical assays, and microbiological cultures. For instance, in February 2024, the National Accreditation Board for Testing and Calibration Laboratories (NABL) reported that the number of NABL-accredited laboratories in India grew from 2,065 in 2021 to 2,150 in 2024. The laboratory glassware and plasticware market was valued at approximately $8.1 billion in 2023, is projected to reach around $8.9 billion in 2024, and is estimated to further increase to about $11.2 billion by 2028. Therefore, the growth in the number of diagnostic laboratories is a significant driver of the laboratory glassware and plasticware market.
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Laboratory Glassware And Plasticware Market Competitive Landscape
Major companies operating in the laboratory glassware and plasticware market are Compagnie de Saint-Gobain S.A., Thermo Fisher Scientific Inc., Merck KGaA, Corning Incorporated, Avantor Inc., Sartorius AG, Mettler-Toledo International Inc., Nipro Corporation, Schott AG, Gerresheimer AG, Eppendorf SE, Greiner Bio-One International GmbH, Metrohm AG, Kavalierglass AS, Chemglass Life Sciences LLC, Borosil Ltd., DWK Life Sciences Ltd., Labconco Corporation, Haier Biomedical International, Bel-Art Products Inc., Tarsons Products Limited, Adams & Chittenden Scientific Glass Cooperative Corporation, Crystalgen Inc., Hirschmann Laborgeräte GmbH & Co. KG
Key Laboratory Glassware And Plasticware Market Trend
Major companies in the laboratory glassware and plasticware market are creating plant-based lab consumables to tackle sustainability challenges and lessen the environmental impact of traditional plastic products. These plant-based consumables offer advantages like biodegradability, promote sustainable resource usage, lower carbon footprints, enhance market differentiation, ensure regulatory compliance, and provide long-term cost savings. For example, in February 2024, Green Elephant Biotech, a Germany-based sustainable biotechnology solutions company, launched the Green Elephant 96-Well Plate, the first plant-based lab consumable made from sustainable polylactic acid (PLA) rather than fossil fuels. This plate maintains the same quality and safety as traditional plastic plates while reducing the carbon footprint of laboratories by 50% over its lifecycle and is produced from corn starch using a less energy-intensive process.
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Global Laboratory Glassware And Plasticware Market Segmentation
The laboratory glassware and plasticware market covered in this report is segmented –
1) By Product: Burettes, Storage Containers, Beakers, Flasks, Petri Dishes, Pipettes And Pipette Tips, Other Products
2) By Distribution Channel: Online, Offline
3) By End-User: Contract Research Organizations, Food And Beverage Industry, Hospitals And Diagnostic Centers, Pharmaceutical And Biotechnology Industries, Research And Academic Institutes, Other End-Users
By Geography:The regions covered in the laboratory glassware and plasticware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the laboratory glassware and plasticware market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Laboratory Glassware And Plasticware Global Market Report 2024 furnishes information about the global laboratory glassware and plasticware market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
