Global Pharmaceutical Lab Equipment Market Benefited by New Product Launches

Published Date : Aug 22, 2016

Albany, NY, Aug 22, 2016: Advanced technologies are being consistently employed in laboratory equipment and devices to improve problem solving and treatment procedures. Reduction in operation cost, energy efficiency, minimal waste, and higher productivity are some of the benefits of modern-day pharmaceutical labs. 

Manufacturers of pharmaceutical lab equipment and devices are taking extra efforts to design and develop innovative and advanced lab equipment. Rapid development of the nanotechnology sector, system integration, micro processing, microfabrication, system integration, and advanced electronics have helped pharmaceutical labs design, develop, and maintain advanced equipment. These are the findings of the new report added by to its database. 

The report, titled ‘Global Pharmaceutical Lab Equipment Market Outlook 2016-2021,’ focuses on the rising demand for new lab equipment in China and the changing trends in the global market. Lab equipment, biotechnology, pharma machinery, and analytical services in China are set for huge growth in the coming years. The improved quality of research and development activities and the use of advanced technology have helped manufacturers of lab equipment in new product launches. All these factors are expected to propel the China pharmaceutical lab equipment market in the coming years. 

The global market for pharmaceutical lab equipment is regionally divided into Asia (except China), China, North America, and EMEA. Backed by the growing business across all regions, pharmaceutical companies are introducing new lab equipment to fulfill the growing needs. Advanced technologies are predicted to bring about many changes in the design and features of lab equipment, predict the analysts.

As per the findings of the report, in the years to come, key pharma companies are expected to merge with the new entrants in the global market. The expected rise in the mergers, acquisitions, and partnership contracts between new entrants and key companies is predicted to propel the global market. By signing merging contracts, pharma companies are aiming to reduce the cost of manufacturing pharmaceutical lab equipment and devices.

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Outsourcing of pharmaceutical devices is also on the rise across the globe. The rising use of third-party suppliers of lab equipment and devices is expected to create new growth opportunities in the global market. Suppliers of pharmaceutical lab equipment are responding to the changing trends and the changing needs of hospitals, healthcare centers, and medical care centers. The increasing number of pharmaceutical companies and the rising number of patients undergoing various surgeries and treatments have led to the increase in the number of pharmaceutical laboratories.

Rising government funding and improvements in the research and development activities have led to a rise in new drug discovery activities. Consistently rising drug development activities have boosted the demand for pharmaceutical laboratories. This is anticipated to boost the demand for lab equipment and medical testing devices in the coming years.   

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