Global Laboratory Cabinet Market 2016-2020

Outlook of the global laboratory cabinet market

Extensive market analysis carried out by the analysts at Technavio has shown that the global laboratory cabinet market will grow at a steady CAGR of around 6% until the end of 2020. The significant increase in expenditure on research and development in the last ten years is driving the market for laboratory cabinet globally. With continuing emphasis on knowledge expansion and innovation, the trend of increasing spending on R&D will continue over the forecast period. The increase in R&D activities translates to an expansion of research and testing facilities which will, in turn, result in an augmented demand for laboratory cabinets.

Factors such as the increasing adoption of automation in laboratories for sample preparation, storage, and movement of sample and equipment is both cost effective and saves time. Automation in labs allows for efficient workflow with less need for human input, thereby minimizing errors and levels of contamination. Also, several laboratory cabinets allow the integration of automated accessories and other instruments to improve safety. With the emergence of biosafety cabinets and laminar flow cabinets which integrate an automated air barrier that reduces the risk of infection from airborne contaminants. Also, the digital interfaces on the cabinets allow for easy control of various factors within the cabinet, thereby reducing the complexity of operation. The rising demand for automation in laboratories will bolster this market’s growth potential during the forecast period.

Segmentation by end-user and analysis of the laboratory cabinet market

• Medical and healthcare
• Pharmaceutical
• Electronics