Plastic Labware Market to Reach $19.83 Billion by 2028, Bellco Glass, Corning, DWK Life Sciences, Sartorius, and Thermo Fisher Scientific are the Major Stakeholders
Aug 11, 2023
June 26th, 2023 Arizton Advisory & Intelligence Releases
According to Arizton’s latest research report, the plastic labware market will grow at a CAGR of 12.20% during 2022-2028. North America dominated the global plastic labware market share, accounting for over 33% in 2022. The global plastic labware market is segmented by product type, material, end-user, and region. Product types include pipettes, Petri dishes, centrifuge tubes, beakers, flasks, and other laboratory plasticware products. These products are used to manufacture polystyrene, polypropylene, polycarbonate, and other plastic materials. The end-users of plastic labware products include research and development centers, academic institutions, pharmaceutical companies, and biotechnology companies.
North America and Europe are the major markets for plastic labware due to many research and development centers, academic institutions, and pharmaceutical companies in these regions. However, the Asia-Pacific region is expected to witness the highest growth rate in the plastic labware market, driven by the increasing investments in research and development activities and the growth of the healthcare sector in emerging economies, such as India and China.
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Plastic Labware Market Report Scope
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Impact of COVID-19
The COVID-19 pandemic has highlighted the importance of laboratory equipment in diagnosing, treating, and researching infectious diseases. Plastic labware, such as pipettes, test tubes, and culture plates, is essential to laboratory operations, providing reliable and consistent results while maintaining sample integrity.
The demand for plastic labware has increased significantly since the beginning of the COVID-19 pandemic. The use of disposable plastic labware has become more prevalent to reduce the risk of cross-contamination and transmission of the virus. In addition, the demand for plastic labware has increased for producing and distributing COVID-19 vaccines and diagnostic tests.
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North America is expected to dominate the global plastic labware market, accounting for over 33% share in 2022. Factors such as the rising number of diagnostic tests, increased usage of laboratory consumables, and the introduction of specially designed plasticware are driving the growth of the plastic labware market in the region. The U.S. and Canada are the major countries in this region. North America has been one of the leaders in innovation and research. To retain its top position, the U.S. is continuing to invest in R&D, which is expected to boost the plastic labware market in the region during the forecast period.
The APAC plastic labware market is the fastest-growing market globally. The region’s biotechnology industry is on a continuous surge that is increasing the adoption rate of laboratory instruments, thereby driving the labware market in the region. Developing countries such as China, India, and South Korea are implementing effective R&D in biotechnology; even though their economic development is not precisely in sync, each of these countries has been innovating developing countries in biotech research in recent years. Further, Latin America and the Middle East are also projected to have profitable development in the plastic labware market in the future years.
Key Company Profiles
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