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Laboratory Supplies Market Size to Worth Around US$ 53.56 Bn By 2030

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Ottawa, Dec. 30, 2021 (GLOBE NEWSWIRE) — The global laboratory supplies market size was valued at US$ 31.56 billion in 2021. The rapidly growing pharmaceutical and biotechnology industry across the globe is fueling the growth of the global laboratory supplies market. The huge investments made by the pharmaceutical industries for the development of new drugs and diagnostic equipment is significantly driving the demand for the laboratory supplies. Moreover, the rising number of scientific companies and research organizations across the globe is estimated to foster the consumption of various laboratory equipment and consumables in the forthcoming years.

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The recent outbreak of the COVID-19 disease has suddenly spiked the demand for the various laboratory consumables as most of the research organizations were involved in conducting researches and experiments regarding the virus and development of vaccines. The COVID-19 pandemic compelled the various government and the pharmaceutical companies to heavily infuse funds in the research activities. Moreover, various developmental strategies adopted by the key market players highly influence the market as there are few market players. Furthermore, the rising number of approvals of the medicines and diagnostic equipment is encouraging the pharmaceutical companies to invest more in the research activities.

Scope of the Laboratory Supplies Market

Report Coverage Details
Market Size in 2021 US$ 31.56 Billion
Growth Rate From 2021 to 2030 CAGR of 6.1%
Fastest Growing Market Asia Pacific
Largest Market North America
Base Year 2021
Forecast Period 2021 to 2030
Companies Covered Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, Fujifilm Holdings Corporation, Agilent Technologies Inc., PerkinElmer Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc., Waters Corporation

Regional Snapshot

North America dominated the global laboratory supplies market, garnering around 38% of the market share in 2020. This can be attributed to the rising number of grants by the government organizations to carry out research activities in the region has fueled the market growth. The presence of top biopharmaceutical industry players in the region is another major factors that contributes towards the growth of the laboratory supplies market. The biopharmaceutical industry in North America is a huge investor that heavily invests in the research organizations to develop various new diagnostic tools and drugs. Moreover, the presence of numerous companies that are involved in the development of new vaccines and therapeutics is boosting the demand for the laboratory supplies in the region.

On the other hand, Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is the home to several top research organizations and laboratory product manufacturers. The countries like China is a major supplier of various laboratory equipment and consumables in the Asia Pacific region. The increasing investments by the government in the research and development of various vaccines are expected to fuel the growth of the market.

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Report Highlights

  • Based on the product, the equipment segment dominated the global laboratory supplies market, garnering a market share of around 64% in 2020. This is attributable to the increased number of research organizations and extensive demand for the laboratory products. The general lab products and equipment are costly assets that can be operated for many years and hence, the huge cost of the equipment results in the generation of higher revenues of this segment.

Driver

Rapidly growing pharmaceutical and biotechnology companies

The biopharmaceutical sector is a prominent investor of the research activities. The research & developmental activities funded by the biotechnology companies are targeted towards the development of the new drugs and diagnostic techniques. The rising prevalence of the various gene diseases and other chronic diseases are presenting lucrative growth opportunities to the biotechnology companies. This compels them to increasingly invest in the research activities.

Restraints

High investments involved in the research

A huge cost is involved in funding the research activities. Research also involves longer time periods for generating the desired outcomes related to the drug development. Therefore, the small and medium biopharmaceutical companies are unable to involve in such research activities, which may hamper the growth of the global laboratory supplies market.

Opportunities

Proliferation of the latest technologies in the lab equipment

The proliferation of latest technologies like artificial intelligence equipped with the various lab equipment helps the researchers to effectively conduct analysis and generate faster results. Moreover, the automation of the lab equipment helps in increasing the productivity of the research activities undertaken. Hence, the latest technologies are expected to provide growth avenues to the stakeholders in the forthcoming years.

Challenges

Lack of efficient professionals and adequate time

There is a lack of experienced and efficient research professionals. Therefore, the increasing investments and increasing number of research programs are building a huge pressure on the research organizations to produce faster results. This may hamper the quality of the research. This is a major challenge faced by the market players and this may restrict the market growth.

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Segments Covered in the Report

By Product

  • Equipment
    • Incubators
    • Lab Air Filtration System
    • Laminar Flow Hood
    • Centrifuges
    • Micro Manipulation Systems
    • Autoclaves & Sterilizers
    • Scopes
    • Sonicators& Homogenizers
    • Others
  • Consumables
    • Tubes
    • Tips
    • Gloves
    • Pipettes
    • Dishes
    • Cell Imaging Consumables
    • Masks
    • Cell Culture Consumables

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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