Global Laboratory Glassware & Plasticware Market to reach USD 7.26 billion by 2025. Global Laboratory Glassware & Plasticware Market valued approximately USD 5.2 billion in 2016 is anticipated to grow with a healthy growth rate of more than 3.9% over the forecast period 2018-2025. Technological enhancements, rising demand for plasticware and reducing prices of plasticware & glassware are major factors which are driving the growth in the Global Laboratory Glassware & Plasticware Market. However, glassware are fragile in nature which along with fund problems in some of the research activities are the main reasons that restraint the market growth.
Laboratory glassware and plasticware include instruments which are used for hospitals, laboratories, and scientific research purposes. These include instruments like funnels, beakers, condensers, burettes, bottles, adapter, chromatography apparatus, measuring cylinder, flask, tubes, thermometer, and pipettes etc. Laboratory plasticware is mainly an equipment set which is made by various kinds of plastic materials while glassware is manufactured by borosilicate glass.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries.
According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
Many kinds of glassware and plasticware are being used in labs on the basis of their application and use in the research process. The main feature of plasticware is that it is flexible, while glassware is suitable for heating chemicals and conducting dynamic reactions despite its fragile nature. The glassware products were dominating the market for the last few decades, but nowadays the demand for plasticware products is increasing. Plasticware is easy to handle, flexible, and less costly than glassware. These are few features that help in growing the plasticware demand in the market.
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The regional analysis of Global Laboratory Glassware & Plasticware Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
§ Glassware
§ Plasticware
By End-User:
§ Research and Academic Institutes
§ Hospitals and Diagnostic Centers
§ Pharmaceutical and Biotechnology Industry
§ Contract Research Organizations
§ Food and Beverage Industry
§ Other End-Users
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By Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
§ Asia Pacific
o China
o India
o Japan
§ Latin America
o Brazil
o Mexico
§ Rest of the World
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.”
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