Laboratory Accessories Market worth $504.7 Million by 2020

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According to research report the global Lab Accessories Market is expected to reach $504.7 million by 2020 from $327.0 million in 2014, at a CAGR of 7.5% from 2014 to 2020, the global laboratory accessories market is segmented on the basis of products, end users, and regions. Based on products, the market is categorized into microplates, label printers, pipettes, pumps, reagent reservoirs, valves, tubings, and wash stations. The microplates segment includes microplate accessories such as microplate storage racks, well orienters, and well stands.
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The wash stations and the syringes and syringe pumps segments are expected to account for the largest shares of the market by 2020, accounting for CAGRs of 6.2% and 9.7%, respectively. However, the reagent reservoirs segment is the fastest-growing segment of the laboratory accessories market, with an estimated CAGR of 12.8% during the forecast period of 2014 to 2020.
On the basis of end users, the laboratory accessories market is segmented into original equipment manufacturers (OEMs), biotechnology and pharmaceutical companies, hospital and private laboratories, academic institutes, and research institutes. Based on regions, the market is categorized into North America, Europe, Asia, and the Rest of the World.
The demand for laboratory accessories in the near future is set to rise due to the increasing trend of hospitals and research institutes resorting to automate their testing laboratories. The driving factors that are expected to boost the growth of the market are greater productivity and reduction in costs, improved personal safety, rising adoption of laboratory automation systems in drug discovery and clinical diagnostics, large-scale disease outbreaks, availability of funding for research, and higher reproducibility and accuracy in laboratory automation.
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The major players in the market include Roche Holding AG (Switzerland), Abbott Laboratories, Inc. (U.S.), Tecan Group Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Beckton, Dickinson and Company (U.S.), Greiner Bio-One GmbH (Austria), Bio-Rad Laboratories, Inc. (U.S.) Hamilton Company (U.S.), Analytik Jena AG (Germany), Brooks Automation, Inc. (U.S.), and Corning Incorporated (U.S.).

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