The Business Research Company’s Laboratory Chemicals Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Laboratory Chemicals Global Market Report 2023 evaluates laboratory chemicals market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global laboratory chemicals market is expected to grow from $3.59 billion in 2022 to $3.85 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The laboratory chemicals market is expected to reach $4.9 billion in 2027 at a CAGR of 6.2%.
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 segments in the report are:
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
The table of contents in TBRC’s laboratory chemicals market report includes:
1. Executive Summary
2. Laboratory Chemicals Market Characteristics
3. Laboratory Chemicals Market Trends And Strategies
4. Laboratory Chemicals Market – Macro Economic Scenario
5. Laboratory Chemicals Market Segmentation
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26. South America Laboratory Chemicals Market
27. Brazil Laboratory Chemicals Market
28. Middle East Laboratory Chemicals Market
29. Africa Laboratory Chemicals Market
30. Laboratory Chemicals Market Competitive Landscape And Company Profiles
Top Major Players:
- Honeywell International Inc
- BD Biosciences Systems and Reagents Inc
- GE Healthcare Inc
- ITW Reagents Division
- Avantor Inc
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