Outsized Growth and Profits in $25 Billion-Dollar Lab Consumables Market, Report Says
A new report from SDi (Strategic Directions International, part of Science and Medicine Group) says the sometimes overlooked market for consumable supplies used in laboratory research will reach 25.9 billion dollars in 2020. These products also represent the make-or-break portion of the business for many instrument companies; the business line where they earn their profits and increase their revenues. SDi has just released the SDi Global Laboratory Consumables Market, a 300+ page report that focuses specifically on the market for consumables.
These consumable supplies, including liquid chromatography columns, PCR reagents and ELISA kits, as well as well plates, vials, syringes, and chromatography resins offer additional revenue for makers of instruments and are part of their business models. Cell products such as sera and reagents are also included in the report.
The firm estimates that revenue growth of consumable sales is at least twice that of instrument sales, and that profit margins are higher for consumables than instruments.
With that profit comes opportunity, but also threats, SDi’s report makes clear. There are competitors waiting to take some of those profits and revenues, companies that do not make instruments but compete in consumables. Market share in consumables is different from instruments.
The report is designed for general management, product managers and marketing executives in the laboratory instrumentation consumables industry. Those involved in a particular technology or product line can obtain up-to-date statistics in their areas of interest, and gain insights into related or tangential areas. Those concerned with more than one segment, or the whole industry, can use the report to evaluate markets, the competitive landscape, or identify opportunities and acquisition targets.
Companies in this sector that are covered in the report include: ATCC, Agilent, Beckman Coulter, Bio-Rad, Corning, Danaher, Eppendorf, GE Healthcare, Genscript, Greiner Bio-One, Hitachi High Technologies, Illumina, Lonza, MilliporeSigma, PerkinElmer, Phenomenex, Promega, QIAGEN, Restek, Roche, Shimadzu, Thermo Fisher Scientific, Sartorius, Tosoh, VWR and Waters.
The report can be found at: https://strategic-directions.com/product/the-global-consumables-market/
About Strategic Directions International
Strategic Directions International (SDi), part of Science and Medicine Group, is the leading business intelligence firm in the highly specialized field of analytical and life science instruments. Its client list includes virtually every major analytical instrumentation company in the United States, Europe, and Japan. Founded in 1981, the Los Angeles-based company has published hundreds of market reports and provided proprietary consulting services for a multitude of clients.
