Global Laboratory Furniture Market Size By Type, By Application, By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Laboratory Furniture Market Size By Type, By Application, By Geographic Scope And Forecast

Laboratory Furniture Market Size And Forecast

Laboratory Furniture Market size was valued at USD 1.8 Billion in 2024 and is projected to reach USD 2.8 Billion by 2031, growing at a CAGR of 7.3% from 2024 to 2031.

Global Laboratory Furniture Market Drivers

The market drivers for the Laboratory Furniture Market can be influenced by various factors. These may include

  • Increasing Research and Development Activities One important factor is the increased focus on R&D in a number of industries, including biotechnology, pharmaceuticals, and academic institutions. Modern, effective, and ergonomic laboratory furniture is in higher demand as these activities grow since it supports a variety of scientific jobs and ensures both productivity and safety.
  • Technological Developments The market is expanding due to developments in laboratory furniture materials and design. To improve usefulness and efficiency, laboratories are increasingly favouring innovations like modular furniture systems, improved ergonomic designs, and the use of sturdy, easily-cleanable materials.
  • Expansion of the Healthcare Sector The need for laboratory furniture is rising as a result of the healthcare sector’s global expansion, which includes hospitals, diagnostic centres, and clinical laboratories. The need for speciality furniture is driven by the necessity for cutting-edge medical research and diagnostics.
  • Strict Safety and Regulatory Standards It’s critical that laboratory settings adhere to strict safety and regulatory standards. The need for compliance laboratory furniture is fueled by regulations that frequently require the use of particular furniture types that adhere to safety and hygienic requirements.
  • Growth of Educational Institutions As educational institutions expand, particularly those that emphasise science and technology, there will be a greater need for laboratory furniture. In order to give students and researchers access to cutting-edge facilities, universities and colleges are investing in modernizing their laboratories.
  • The Rise of High-Tech Labs Labs such as those studying advanced material science, genetics, and nanotechnology, necessitates the need for specialized furniture to hold complex apparatus and experimental configurations.
  • Globalization and Outsourcing The demand for laboratory furniture is increasing in these regions due to the globalization of research and the outsourcing of laboratory operations to developing markets. The demand for laboratory infrastructure rises with the number of research centres built in developing nations.
  • Sustainability and Environmental Concerns Eco-friendly materials and energy-efficient designs are the focus of a developing trend in laboratory furniture that is oriented towards sustainability. Furniture that lessens environmental effect and is in line with sustainability aims is becoming more and more common in laboratories.

Global Laboratory Furniture Market Restraints

Several factors can act as restraints or challenges for the Laboratory Furniture Market. These may include

  • Exorbitant Starting Costs Good laboratory furniture may be expensive, especially when it comes to specialty products like workbenches, fume hoods and storage solutions. These hefty upfront costs may be prohibitive for labs that are smaller or have tighter budgets.
  • Economic Recessions Funding for research and development initiatives may be cut as a result of economic volatility, especially in the public and academic sectors. This may lead to a decline in the market for lab equipment.
  • Strict Regulations Labs are subject to stringent safety and quality regulations, particularly those in the chemical, biotech, and pharmaceutical industries. For furniture producers, adhering to these regulations may result in higher costs and longer lead times.
  • Extended Lead Times and Limited Customisation Customised lab furniture can be costly and has lengthy lead times. This can be a turnoff for labs that have to set up quickly or that have strict deadlines.
  • Technological Progress and End-of-Life Issues Fast technological progress can rapidly render some types of laboratory furniture outdated. For buyers who need to make sure their investments stay relevant and helpful over time, this presents a risk.
  • Sustainability and Environmental Concerns The growing focus on eco-friendly and sustainable materials might provide a problem for producers that have to modify their operations and product lines. In order to get sustainable resources and ensure environmentally friendly production, this may entail additional expenses and complications.
  • Supply Chain Interruptions Problems with the global supply chain, such as delays in transit and raw material shortages, might affect the availability and price of laboratory furniture. Longer delivery periods and higher final user costs may result from this.
  • Competition from Other Approaches Alternative options, such prefabricated and modular laboratory sets, which might be more affordable and easier to set up than traditional furniture, are a competitive threat to the industry.
  • Issues with Durability and Maintenance Because laboratories operate in such a rigorous environment, their furniture is susceptible to wear and tear. Long-term expenditures for users may increase due to the necessity for high-quality, long-lasting materials and frequent maintenance.
  • Variable Costs of Raw Materials The price of raw materials, including as steel, wood, and specialty coatings, used in the production of laboratory furniture, can fluctuate. Price changes may have an effect on manufacturers’ total cost structures and profitability.

Global Laboratory Furniture MarketSegmentation Analysis

The Global Laboratory Furniture Market is segmented based on Type, Application, and Geography.

Laboratory Furniture Market, By Type

  • Lab Bench
  • Lab Cabinet
  • Fume Hood
  • Stool
  • Accessories

Based on Type, the market is further segmented into Lab Bench, Lab Cabinet, Fume Hood, Stool, Accessories. The Lab Cabinet is expected to witness the highest CAGR for the forecast period. A lab cabinet is a portable storage unit utilized in laboratories for storing chemicals, reagents, kits, and other gadgets. It is also referred to as a test tube rack or glass rack. The length of the cabinet depends on the space available withinside the laboratory. Lab cabinets are made up of various substances including metal, plastic, and wood; they may be customized according to consumer requirements.

Laboratory Furniture Market, By Application

  • Education
  • Government
  • Industry
  • Research
  • Pharmaceutical

On the basis of Application, the market Education, Government, Industry, Research, and Pharmaceutical. The education segment is anticipated to witness the highest CAGR for the forecast period. This may be attributed to growing investments in R&D centres by various governments across the world. Also, the developing demand for laboratory fixtures by school and universities are expected to rise during the forecast period. Furthermore, these varieties of furniture are also used significantly by academic institutes/universities throughout all regions as these centres require advanced technology equipment to train college students efficiently while maintaining student protection at an equal time.

Laboratory Furniture Market, By Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

On the basis of regional analysis, the Global Laboratory Furniture Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North American region is predicted to witness significant growth during the forecast period. This may be attributed to growing authorities’ investment in research and development activities, a growing variety of medical trials, and an increase in R&D centres throughout this region. In addition, the developing demand for advanced diagnostic techniques is expected to drive the regional growth over the forecast period.

Key Players

The major players in the Laboratory Furniture Market are

  • Kewaunee Scientific Corporation
  • Mott Manufacturing Ltd.
  • Thermo Fisher Scientific Inc.
  • Labconco
  • Köttermann GmbH
  • Diversified Woodcrafts, Inc.
  • Esco Micro Pte Ltd., NuAire
  • Shimadzu RIKA Corporation
  • WALDNER Laboreinrichtungen GmbH & Co. KG.
  • Air Master Systems Corp (US)
  • WALDNER Holding SE & Co. KG (Germany)
  • PSA Laboratory Furniture LLC (US)
  • FRIATEC GmbH (Germany)
  • GE Healthcare Services (US)
  • Lab Crafters (US)
  • Hamilton Lab Solutions (US)

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

BASE YEAR

2024

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2021-2023

KEY COMPANIES PROFILED

Kewaunee Scientific Corporation, Mott Manufacturing Ltd., Thermo Fisher Scientific Inc., Labconco, Köttermann GmbH, Diversified Woodcrafts, Inc., Esco Micro Pte Ltd., & Others

SEGMENTS COVERED
  • By Type
  • By Application
  • By Geography
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