The Laboratory Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Laboratory Chemicals Global Market
Report 2024, The laboratory chemicals market size has grown strongly in recent
years. It will grow from $3.85 billion in 2023 to $4.11 billion in 2024 at a
compound annual growth rate (CAGR) of 6.7%.
The growth in the historic period
can be attributed to growth in pharmaceutical r&d, expansion of the
healthcare industry, increasing demand for diagnostic testing, globalization of
the chemical industry, regulatory compliance requirements.
The laboratory chemicals market size is expected to see strong growth in the
next few years. It will grow to $5.28 billion in 2028 at a compound annual
growth rate (CAGR) of 6.5%. The growth
in the forecast period can be attributed to rising demand for personalized
medicine, increased focus on biotechnology research, growth in environmental
testing, expansion of the food and beverage industry, globalization of drug
manufacturing. Major trends in the forecast period include growing emphasis on green
chemistry practices, increased use of automation in laboratories, rising demand
for specialty chemicals, development of sustainable chemical processes,
integration of artificial intelligence in laboratory workflows.
The growing clinical research activities are expected to propel the growth of
the laboratory chemicals market going forward. Clinical research activities are
studies conducted with human participants to evaluate the safety and
effectiveness of new medical treatments, interventions, or diagnostic
procedures. Clinical research laboratories use laboratory chemicals to perform
routine and specialized assays for patient care. These tests utilize various
methodologies, including tandem mass spectrometry, fully automated devices, and
high-performance liquid chromatography. For instance, in May 2023, according to
ClinicalTrials.gov, a US-based government agency responsible for conducting and
supporting medical research, the number of registered clinical research studies
increased from 399,499 in 2022 to 437,533 in all 50 states of the United States
and across 221 countries. Moreover, it was reported that 140,492 studies (31%)
are registered in the U.S. only, while 241,498 studies (53%) are recorded in
non-U.S. locations. Therefore, growing clinical research activities are driving
the growth of the laboratory chemicals market.
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The laboratory chemicals market covered in this report is segmented –
1) By Type: Cytokine And Chemokine Testing, Biochemistry, Molecular Biology,
Environmental Testing, Cell Or Tissue Culture, Carbohydrate Analysis, Other
Types
2) By Application: Government, Education, Industrial, Healthcare
3) By End User: Pharmaceutical Companies, Biotechnological Companies, Academic
And Research Institutions, Other End-Users
Product innovation has emerged as a key trend gaining popularity in the
laboratory chemicals market. Major companies operating in the laboratory
chemicals market are concentrating on creating and developing innovative
products to strengthen their position in the market. For instance, in March
2022, Spectrum Chemical Mfg. Corp., a US-based chemical provider company,
launched Sodium Chloride UPS, an essential inorganic salt for bioprocessing
with numerous uses, including upstream cell culture and downstream purification
and polishing. The most utilized stabilizer in pharmaceutical goods is sucrose.
To remove batch-to-batch unpredictability, bioCERTIFIED products provide change
control, batch traceability, supply chain transparency, and various product and
packaging options for biopharmaceutical R&D, scale-up, and production.
The laboratory chemicals market report table of contents includes:
1. Executive Summary
2.
Laboratory Chemicals Market Characteristics
3.
Laboratory Chemicals Market Trends And Strategies
4.
Laboratory Chemicals Market - Macro Economic Scenario
5. Global
Laboratory Chemicals Market Size and Growth
.
32. Global Laboratory Chemicals Market Competitive Benchmarking
33. Global
Laboratory Chemicals Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Laboratory Chemicals Market
35.
Appendix
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