Demand for Lab storage container market will witness steady recovery in short-term, with a positive outlook in the long-run. Increased investments in the field of life sciences and biomedical sector is expected to drive the market.
In addition, the demand for lab automation is expected to grow in the coming years as researchers and scientists prefer using new and developed systems to enhance the efficiency of medical discoveries, liquid-handling, purification and polymerase chain reactions.
Key factors such as increasing number of research and development laboratories, increasing demand for plasticware and glassware products for clinical use in hospitals and forensic laboratories as they are lightweight, recyclable, cost-effective, and non-breakable, government support in the field of pharmaceutical and drug discovery, etc. are expected to be the major driver for the market growth of the global laboratory glassware & plasticware market.
Furthermore, the increasing focus towards the development of innovative products in the field of medical and life sciences will further drive demand in research and academic institutes.
Rising demand for plastics in healthcare industry owing to its advantages such as, light-weight, cost-effectiveness, biocompatibility and versatility is projected to drive the market. Since the new products are cost-effective, it will possess increased demand which eventually help in avoiding contamination of medical products and offers better safety to patients. Plasticware product types are breakage-free and do not chip when handling hazardous chemicals and chemical substances.
Also, the growing prevalence of chronic diseases and advancements in production technologies also helps in driving the growth of the Lab storage containers.
North America dominates the market owing to the implementation of the Affordable Care Act and NIH’s Big Data to Knowledge initiative. The increasing number of hospitals in the regions of China, South Korea, India and few parts of America is driving the market with an optimistic growth opportunity.
Moreover, lab storage products play a crucial role in disease control and surveillance. Laboratory services support effective healthcare by providing reliable, valid and timely results. Proper functioning, good quality equipment and uninterrupted supply of raegents and other lab consumables are essential for this. The growing awareness is expected to drive demand for lab storage containers in the future.
Globally, rising demand and acceptance of laboratory plasticware in cell cultures and cryo preservation related studies and experiments, upsurge in demand for plastic based equipment due to longer shelf life, better handling and safety benefits and cost effectiveness are the prime growth drivers of laboratory market.
In addition, the major opportunity for the laboratory market to grow is the rising living standard and improving healthcare facilities in emerging nations in the European region.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Lab Storage Container Market
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