Laboratory Glassware Washers Market to Reach a Valuation of ~US$ 330 Mn by 2027February 23, 2021
Transparency Market Research (TMR) has published a new report on the laboratory glassware washers market for the forecast period of 2019 – 2027. According to the report, the global laboratory glassware washers market was valued at ~US$ 230 Mn in 2018, and is projected to expand at a CAGR of 4% from 2019 to 2027.
Global Laboratory Glassware Washers Market: Key Insights
Laboratory glassware washers are devices used in the sterilization and cleaning of glassware washers of various sizes. These washers are available in small, medium, and large sizes. Laboratory glassware washers are cost-effective and efficient options for use in laba. The three major types of laboratory glassware washers are undercounter, freestanding, and portable. Major brands operating in the market are Steam Scrubber, Flask Scrubber & Flask Scrubber Vantage Series, G 7893 compact washer, and Hotpack large-capacity glassware washers.
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Growth of the global laboratory glassware washers market can be attributed to increase in the geriatric population, growing life science industry, rise in the demand for laboratory glassware washers, and increase in the number of laboratories across the globe. Increase in research & development and requirement of sterilization are key factors fueling the growth of the global laboratory glassware washers market. Major players offering strong product portfolios and rise in investments in the development of laboratory glassware washers are likely to boost the growth of the global laboratory glassware washers market.
Rise in Demand for Glassware Washers in Healthcare Facilities to Boost Market
Healthcare facilities, which includes hospitals and diagnostic centers, provide a large number of biological samples for the analysis and diagnosis of several types of diseases. Rapidly growing burden of biological sample processing in healthcare facilities is attributed to the higher prevalence and incidence of chronic and infectious diseases. This is likely to propel the global laboratory glassware washers market in the next few years. Expansion of clinical & diagnostics laboratories across the globe is anticipated to drive the laboratory glassware washers market during the forecast period.
For instance, in June 2017, Europe’s leading clinical laboratory testing service provider Unilabs acquired CGC Genetics, a leading medical genetics laboratory company serving customers in over 65 countries. Quest Diagnostics has 130 labs and 1,000 collection centers across India, Africa, Sri Lanka, and Mauritius. The company plans to increase the number to 250 labs and 2,000 collection centers by the end of 2019.
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Advanced Laboratory Glassware Washers to Drive Global Market
Manufacturers are engaged in the development of novel, multipurpose laboratory glassware washers that can perform most laboratory applications in one single unit, with improved efficiency, reduced turnaround time, and safety features.
Freestanding Type of Washers to Lead Global Market
In terms of type, the freestanding segment is projected to account for a major share of the global laboratory glassware washers market. Increase in the preference for freestanding glassware washers in surgical departments and development of technologically-advanced products are anticipated to drive the segment during the forecast period. For instance, Steris’ Reliance 100 Series laboratory glassware washers provide excellent cleaning and drying efficacy and unmatched flexibility. Moreover, increase in the use of large freestanding glassware washers in laboratories, hospitals & diagnostic centers, and biopharmaceutical companies is expected to propel the segment during the forecast period.
Hospitals & Diagnostic Centers to Dominate Global Market
In terms of end user, the global laboratory glassware washers market has been divided into hospitals & diagnostics centers, pharmaceutical & biotechnology companies, research institutes, and others. The hospitals & diagnostic centers segment held the largest market share in 2018, and the trend is anticipated to continue during the forecast period. Increase in the number of surgeries and rise in the incidence of hospital-acquired infections are likely to augment the segment across the globe. According to research published by the Centers for Disease Control and Prevention, healthcare-associated infections account for more deaths each year across the globe than car accidents, breast cancer, or AIDS. This has prompted hospitals and diagnostic centers to carry out proper sterilization and washing in order to prevent infection.
Global Laboratory Glassware Washers Market: Prominent Regions
In terms of region, the global laboratory glassware washers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global laboratory glassware washers market in 2018, followed by Europe and Asia Pacific. This can be attributed to the highly developed healthcare sector and continuous evolution of technology. High prevalence of infectious diseases such as cholera, influenza, and syphilis in North America increases the demand for the utilization of laboratory glassware washers. Continued investments in research & development is another major factor expected to drive the laboratory glassware washers market in North America. The laboratory glassware washers market in Asia Pacific is likely to expand at the highest CAGR from 2019 to 2027.
Business Restructuring Strategies and Partnerships/Acquisitions by Key Players to Drive Global Market
The global laboratory glassware washers market is fragmented in terms of number of players. Major and local players account for a majority share of the global laboratory glassware washers market. Leading players operating in the global laboratory glassware washers market include SP Industries, SMEG S.p.A, Lancer Sales (Getinge Group), Scientek Technology Corporation (Spire Integrated Solutions), Belimed (Metall Zug Group), Steris plc, Labconco, Avantor, Inc., and Steelco S.p.A. (Meile Group).
These players have adopted various strategies such as mergers and acquisitions, collaborations, partnerships, and business restructuring. For instance, in February 2019, Belimed restructured its Life Science Solutions Business Unit, which was a key milestone by the company. Effective April 2019, life science solutions operates independently, which enables Belimed to increase its expansion geographically. Additionally, in January 2018, Lancer Sales USA established the life science division as a separate entity for the expansion of its product line. This division includes the robust Lancer laboratory washers product portfolio. In August 2019, Belimed entered into purchasing agreement with Premier for its instrument cleaners and enzymatic offerings. From October 2019, Belimed will offer Premier members an advantage of availing offers at special prices and terms.