Global Laboratory Plasticware Market Witnesses Rising Opportunities in Emerging Economies due to Favorable Government Policies

Published Date : Jun 03, 2016

The use of plasticware has significantly increased in laboratory applications mainly due to their cost-effectiveness. A laboratory plasticware is made from polymers and is used for various applications across research and development centers. The design of plasticware apparatus has evolved over the time in terms of material composition, design, and application. Laboratory apparatuses made from polymers are nowadays preferred more than their conventional counterparts since they are unbreakable and are easily available at affordable price. Owing to its intrinsic properties such as environment friendliness, reusability, and thermostability, laboratory plasticware also finds applicability in handling radioactive isotopes and hazardous and carcinogenic substances or chemicals. Furthermore, laboratory plasticware is also considered safer than glass apparatuses in many cases. 

Technological Advancements are expected to Boost Market

Beaker, Buchner funnel, spirator bottles, centrifuges, and micro centrifuge tubes are some of the most commonly used laboratory plastic-wares. With the rising acceptance of cryopreservation and cell culture related experiments, the demand for laboratory plasticware is expected to increase at a significant pace. The market is also gaining impetus from the advances in technology that enables the use of various chemical compositions for manufacturing laboratory plasticware. Such developments are expected to give significant boost to the market. 

Reduced Government Funding on R&D Negatively Impacts Market

Despite witnessing steady growth over the past few years, the laboratory plasticware market in Europe and the US is threatened by reduced government funding for research and development. Furthermore, the reluctance of private enterprises on investing in R&D activities is also expected to negatively impact the market. Nevertheless, according to market studies, the US will continue to remain the leading market for laboratory plasticware owing to the presence of a large number of research centers and universities in the nation. 

Global Laboratory Plasticware Market to Witness Attractive Prospects in Developing Nations

The global market for laboratory plastic is also expected to gain from the increasing demand in the emerging economies of Asia Pacific such as India, Japan, Singapore, and China. The surging economy of these nations will boost R&D activities in these countries, which in turn could provide lucrative opportunities to the market vendors. Moreover, implementation of stringent regulations mandating enhanced safety across research centers and laboratories will further bolster the global laboratory plasticware market.