The global laboratory glass container market is envisaged to gain momentum as there is an increased demand for these glass containers from laboratories attributed to their extensive research. In the current pandemic, the demand has upsurged globally, finds Fortune Business Insights™, in its report, titled,“Laboratory Glass Container Market-2022-2029.”
According to the Dimensions COVID-19 data set, researchers have published over 38,000 SARS-CoV-2 preprints since the beginning of 2020, attributing to rigorous research done during the pandemic. Moderna’s COVID-19 vaccine, for example, could not have been developed so quickly.But, it went from its discovery to distribution in just 11 months. If the company did not have a long-standing partnership with researchers at the NIH and big pharma firms, it would have been difficult to collaborate to find novel antivirals for this pandemic and the next one. Open-science collaborations have also sprung up between academic research groups, pharmaceuticals, and healthcare sectors
The chemical industry is also rising, and it is also one of the main consumers of laboratory glass containers for its chemical analysis and research. According to a report published by India Brand Equity Foundation, the Indian chemicals industry accounted for US$ 178 billion in 2019, and this number is expected to rise to US$ 304 billion by the year 2025, recording a CAGR of 9.3%. The demand from the chemical industry is thus expected to increase by 9 percent per annum by the year 2025. The rigorous research in both biological and chemical sciences has fueled the laboratory glass container market growth.
COVID -19 Impact:
The outbreak of the COVID-19 pandemic has crippled the global economy, and the Laboratory Glass Container market also suffered the loss since the pandemic curtailed most academic, industry, and government basic science and clinical research. Except those testing life-saving therapies, most clinical trials have been paused, thus negatively impacting the market growth.
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The laboratory glass container industry is segmented by type, application, and geography. The market is divided into the pipette, burette, test tubes, droppers, bottle flask, and petri dish in terms of its type. By application, it is segregated into chemical laboratories, pharmaceutical laboratories, biological and food testing laboratories. The market has been categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East& Africa.
Salient Features of the Report:
The laboratory glass container report gives insights about drivers and restraints influencing the market’s size, share, and growth. It also identifies all the possible segments present along with regional growth. It tracks developments, such as recent mergers, acquisitions, and new product launches. Lastly, it gives information about key players in the market and their top strategies to make informed business decisions.
Driving Factor & Restraints
RisingPharmaceuticals and Chemical Industries to Promote Market Growth
The rising demand for laboratory glass containers can be attributed to the growing life science industry and increased research & development in pharmaceuticals and healthcare. In previous years, Indian pharmaceuticals companies had a 5 percent share, and the global pharma market had a 95% share. In the year 2020, Indian pharma had almost 85 percent share due to the rising number of pharma companies, reports Ministery of Health and Family Welfare.
Moreover, healthcare facilities, including hospitals and diagnostic centers, research laboratories, and chemical industries, provide many biological and chemical samples to analyze their samples. The rapidly surging burden of biological and chemical samples is anticipated to propel themarket growth
On the flip side, the fragility and brittleness of glassware containers are hampering the market growth.
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North America to Lead the Pack Backed by Rising R&D Activities by Independent Laboratories
North America is expected to dominate in terms of the laboratory glass container market share due to the rapid and promising advancements in research and development of pharmaceuticals, healthcare centers, and independent research by laboratories.
Asian countries, namely, China, Japan, and South Korea would also emerge as the fastest-growing countries in terms of research and development in the pharmaceuticals and healthcare sectors.
In Europe, thelaboratory glass containerindusrty will be mainly driven by the research and development happening in Germany. According to a report by Nature, it is estimated that 270 collaborative research centers are funded by the German Research Foundation, listing Germany in the top five countries in terms of research, especially in the fields of chemistry and life sciences. It would further aid growth of the laboratory glass containers market in this region.
Key Players to Focus on Producing Innovative and Durable Products
Leading entities in the laboratory glass container industry are concentrating on creating innovative and durable laboratory glass containers with multi-industry applicability to widen their business horizons and maximize profitability. Their inventiveness is directed towards industries majorly working in research and development regarding pharmaceuticals and healthcare, and chemical sectors. Companies such asAvantor and Borosil are focusing on making glassware with good chemical and thermal resistance properties by using 3.3 low expansion ASTM E-438 type 1 class of borosilicate glass. Such innovations in products use are expected to aid the market growth.
April 2018: Foxx Life Sciences and Borosil Glass Works Limited announced their agreement wherein Foxx Life Sciences would be the Borosil glass supplier in the North American region. They also collaborated to come up with a new line of laboratory reagent bottles, PureGrip.
List of Key Players Profiled in the Laboratory Glass Container Market Report:
- Corning Gerresheimer
- Thermo Fisher Scientific
- Bellco Glass, Inc.
- Hamilton Laboratory Glass
- Glassco Laboratory Equipments Pvt. Ltd.
- SciLabware Limited
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