Press Release

Laboratory Chemicals Market to Grow with a CAGR of 3.86% Globally through 2028

Increasing medical advancements for treating diseases is expected to drive the Global Laboratory Chemicals Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Laboratory Chemicals Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Laboratory Chemicals Market stood at USD27.25 billion in 2022 and is anticipated to grow with a CAGR of 3.86% during 2023-2028. The initiatives taken by government based on laboratory chemicals has led to favorable market conditions for the Global Laboratory Chemicals Market. Several factors contribute to the growth of various laboratory chemicals market products.

Safety is of utmost importance when it comes to dealing with laboratory chemicals. The U.S. Occupational Safety and Health Administration (OSHA), along with other regulatory bodies, has implemented a comprehensive framework of laws and standards to ensure the safe handling and proper disposal of these chemicals. These regulations are specifically designed to safeguard laboratory workers from a wide range of potential hazards, including chemical, biological, physical, and even radioactive substances. By adhering to these stringent guidelines, laboratories can create a secure environment that minimizes risks and promotes the well-being of all personnel involved in scientific research and experimentation.

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Medical advancements have significantly transformed the landscape of disease diagnosis and treatment. Through groundbreaking research and development, these advancements have paved the way for the creation of sophisticated medicines and drugs that hold the potential to revolutionize the treatment of various serious diseases. A notable example of such progress is the Antiviral Oral Pills, jointly developed by Merck and Pfizer in 2021. These innovative pills were specifically designed to prevent the entry of the COVID virus and combat flu-related ailments.

Furthermore, in 2021, the US Centre for Drug Evaluation and Research approved the development of an impressive collection of 50 new therapeutic biological products. This remarkable achievement signifies the continuous growth and expansion of the medical industry's commitment to delivering cutting-edge solutions for patient care.

The Global Laboratory Chemicals Market is segmented into type, application, regional distribution, and company.

Based on its application, the carbohydrate analysis segment held the largest share in the market. In the laboratory chemicals market, the identification, measurement, and characterization of carbohydrates - organic molecules composed of carbon, hydrogen, and oxygen - are accomplished through the use of specific reagents, standards, and apparatus. Carbohydrate analysis plays a crucial role in various disciplines, such as biochemistry, food science, medicine, and environmental studies. It enables researchers to gain insights into the composition and structure of carbohydrates, leading to the development of novel products and innovative techniques for their analysis.

Collaboration among researchers, organizations, and suppliers further enhances the potential for advancements in carbohydrate analysis, contributing to a deeper understanding of these essential biomolecules and their impact on various fields.

Based on region, Asia Pacific segment is expected to grow during the forecast period.

The establishment of new educational facilities across the region, particularly in the field of biological and chemical sciences, has led to a significant transformation. As new companies within the pharmaceutical sector continue to invest heavily in research and development, the opportunities for test analysis are expanding.

Moreover, the growth of clinical research subcontracting activities in the Asian area is further fueling the demand for chemical laboratories. These laboratories play a crucial role in evaluating drug quality and testing items in the fields of food, chemical, and biological research and development. With the increasing need for accurate and reliable analysis, the demand for these specialized laboratories is expected to rise, contributing to the overall advancement and progress in the scientific and healthcare sectors.

Major companies operating in Global Laboratory Chemicals Market are:

  • Avantor Inc.
  • Beckman Coulter Inc.
  • BiosYnth SRL
  • Carlo Erba Reagents SRL
  • Merck KGaA
  • Meridian Life Science Inc
  • Mitsubishi Rayon Co. Ltd
  • Morphisto GmbH
  • PerkinElmer Inc.
  • Sigma-Aldrich Corp.

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“Growing application of laboratory chemicals in various end user industries are key drivers of the laboratory chemicals market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of laboratory chemicals with every passing year are anticipated to register an impressive growth to Global Laboratory Chemicals Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Laboratory Chemicals Market By Type (Corrosive Acids, Corrosive Bases, Flammable Chemicals, Oxidizers, Water-Reactive Chemicals, Compressed Gas, Others), By Application (Molecular Biology, Cytokine and Chemokine Testing, Carbohydrate Analysis, Immunochemistry, Cell/ Tissue Culture, Biochemistry, Environmental Testing, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Laboratory Chemicals Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Laboratory Chemicals Market.


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