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Lab Glassware market report transcript
Lab Glassware Global Market Outlook:
The global lab glassware market size is expected to grow at a rate of 3 percent from $3.28 Billion to $4.03 Billion from 2022 to 2027
With respect to demand of lab glassware, a steep demand is experienced in APAC, followed by North America and Europe. Increase in research activities worldwide would continue to influence lab glassware purchase by academia, research institutions, pharmaceutical companies and analytical labs.
Drivers & Constraints : Lab Glassware
The government is providing funds for research and development in biopharmaceutical industry.
Increased usage of glassware for research activities in drug development and diagnostic purposes
Sustainable material over plasticware and it can be designed according to customer requirements
The manufacturing of laboratory glassware is expensive, and the market is dominated by several major suppliers.
The transportation of laboratory glassware is complex as glass is fragile and transportation loss is high.
Alternative materials such as plasticware and stainless steel can impact the demand for laboratory glassware
Lab Glassware Market Trends:
Laboratory plastics which are considered alternatives can hamper the market for glassware, as the plastics are more economical. However, plastic ware are made of single-use plastics, which can cause environmental issues, hence, companies can engage in sustainable procurement, engineering out plastics, and take-back programs
Advances in technology are being used to improve accuracy and efficiency in the manufacture of laboratory glassware.
High resolution 3D printing technologies are being used to produce lab glassware with the usage of liquid resin
More advancements in the field of 3D printing is encouraging the researchers to involve in the research and development of glassware and reaction ware
Expansion of Service Portfolio
The demand of Type I borosilicate glass tubing for primary packaging has increased exponentially after the pandemic started and to manage the same demand, Schott has expanded its capacity in China. The expansion will not only cater to the production of primary packaging for COVID vaccine, but also for other drugs
SGD Pharma is the leader in developing the ready to use vials, along with Stevanato Group, these vials enable pharma companies to expedite business/product launches by reducing the turnaround time for packaging parenteral’s efficiently
Increase in Demand for Inventory Management Software
Organizations and universities are implementing off-the-shelf Chemical Inventory System (CIS) solution
Universities will be able to manage the inventory for the chemicals on real time basis and the demand for the same might increase in the forecasted period
Focus on Sustainability
Lab glassware manufacturers are using sustainable and eco-friendly materials in laboratory glassware manufacturing, such as glassware made from recycled material and providing eco-friendly packaging.
DWK Lifesciences offer several laboratory glassware manufactured
Cost Structure : Lab Glassware
Raw materials and packaging and logistics are the major contributors to the cost structure of lab glassware, followed by labor cost. Thus, procuring near-shore avoids issue related to logistics, saves time, and cost.
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