Laboratory Chemicals Market - Forecast(2023 - 2028)

Report Code: CMR 71938 Report Format: PDF + Excel

Laboratory Chemicals Market Overview

Laboratory Chemicals Market size is estimated to reach US$26.3 billion by 2027 after growing at a CAGR of 6.8% during the forecast period 2022-2027. Laboratory chemicals are the chemicals like oxidizers, corrosive acids, compressed gas, etc. which are used in laboratory testing and experiments. Such chemicals in laboratories are stored in ULT freezer containers and are used with apparatus like thermal cyclers or equipment like funnels, beakers, test tubes, bearers, etc. made from thermosetting plastics or nylon resin. In industrial sectors, these chemicals are used for investigative or diagnostics purposes and the major end-users of laboratory chemicals are pharmaceuticals, medical, automotive, etc. The drivers for the laboratory chemicals market are an increase in productivity in the pharmaceuticals sector, medical advancements for treating diseases, and growing investments in research & development for producing durable and eco-friendly consumer products. However, since the chemicals used in laboratories are acidic, flammable, or explosive, hence the stringent regulation imposed by the government organization relating to the usage of chemicals in laboratories has negatively impacted the laboratory chemicals industry.

COVID-19 Impact

The restrictions like lockdown, social distancing, and quarantining imposed by the governments in countries to prevent the spreading of COVID-19 caused disruptions in the functionality of certain end-users like medicine, cosmetics, pharmaceuticals, automotive, etc. The experimental work in these sectors is done to investigate or prepare the diagnosis of new products before their launch and to make improvements in existing ones. Hence, due to less workforce and restriction in movements of human personnel, the companies reduced their investments related to research & development and production of new products. For instance, as per the 2021 report European Union, in 2020 the overall research & development investments in EU based companies decreased by 2.2% with automobile companies showing a decrease of 4.3% in their R&D investments. Also, as per the 2020 report of the United Nations Office on Drugs and Crimes, due to restrictions in movements, there was a reduction in the production of opium medicine in Myanmar on account of the decrease in its sales. The decrease in research & development investments and production in the medicine and automotive sector negatively impacted the testing and experimental work for new products in them, which reduced the demand for laboratory chemicals in these sectors.   

Laboratory Chemicals Market Report Coverage

The report: “Laboratory Chemicals Market – Forecast (2022 – 2027)”, by IndustryARC, covers an in-depth analysis of the following segments of Laboratory Chemicals Industry.

By Type – Corrosive Acid (Organic, Inorganic), Corrosive Base, Flammable Chemicals (Acetone, Benzene, Ethanol), Oxidizers (Nitrates, Peroxides, Others), Water reactive chemicals (Sodium, Potassium, Lithium), Compressed Gas (Flammable, Oxidizing), Others

By Application – Molecular Biology, Cytokine and Chemokine Testing, Carbohydrate Analysis, Immunochemistry, Cell/Tissue Culture, Biochemistry, Environmental Testing, Other

By End User – Industrial (Pharmaceuticals, Medical, Agrobusiness, Automotive, Consumer goods), Education (Research Institutes, School & Universities), Others

By GeographyNorth America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • North America dominates the laboratory chemicals market, as the region consists of major countries like the U.S is the largest chemical producer in the world and is a hub to major pharmaceutical companies. 
  • Technological advancements such as cell culture, recombination DNA, and Biotherapeutics are projected to act as growth opportunities for the laboratory chemicals market in the future.
  • Rapid development in major sectors such as healthcare, pharmaceuticals by making the availability of new drugs and biological products increases the treatment options of people, which can have a positive impact on the laboratory chemicals industry

Figure: North America Laboratory Chemicals Market Revenue, 2021-2027 (US$ Billion)

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Laboratory Chemicals Market Segment – By Type

Corrosive acid held the largest share in the laboratory chemicals market in 2021, with a share of over 30%. This owns to factors like corrosive acids like hydrochloric acid and sulphuric acid have high applications in sectors like pharmaceutical, medical and automotive. In the pharmaceutical sector sulfur & hydrochloric acid are used in the chemical synthesis of drug components and in the medical sector they are used during the treatment of diseases. The growing demand for new innovative products in such sectors will have a positive impact on corrosive chemicals. For instance, in 2021 Takeda Pharmaceutical Company introduced FDA-approved moborcertinib as the first and most efficient treatment for lung cancer. Also, in 2019 Mylan collaborated with the Drug Controller General of India to create & launch Pteromalid, an experimental drug for treating pulmonary tuberculosis. Sulphuric acid is used as an alkaline agent in cancer treatment and hydrochloric acid is used for tuberculosis treatment. The introduction of such corrosive acid-based experimental drugs will have a positive impact on laboratory chemicals as more laboratory tests and experiments will be conducted to create medicine for other severe diseases.

Laboratory Chemicals Market Segment – By Application

Biochemistry held the largest share in the laboratory chemicals market in 2021, with a share of over 35%. This owns to factor like findings of biochemistry is majorly applied in sectors like medicine, nutrition agriculture, etc. In medicine it is used to know the cause & cure of disease, in agriculture it investigates soil & fertilizers and in nutrition, it studies how to maintain health and wellness. The rapid development in the healthcare sector and the introduction of new drugs, vaccines, and agrochemicals manufacturing facilities, had increased the rate of testing and experiments. For instance, in 2021 Merck in collaboration with Innovative Biotech established the first vaccine production facility in Nigeria for designing virus-like-particle-based vaccines. Also, in 2021 Food and Drug Administration approved monoclonal antibodies which are laboratory-made proteins to be used as a treatment for primary-progressive multiple sclerosis.  The introduction of such new drugs and agrochemicals will increase demand for more innovative products in the medical & agriculture sector leading to more testing and experiments on new products. Hence such an increase in the rate of testing will increase the demand for chemicals to be used in laboratories.

Laboratory Chemicals Market Segment – By End Use

The industrial segment held the largest share in the laboratory chemicals market in 2021, with a share of over 30%. This owns to factor like industrial sectors such as pharmaceuticals, healthcare is showing rapid development in their productivity by launching new drugs & medicine and increasing R&D investments. For instance, as per the 2021 report of the European Commission, the R&D investments of the U.S and China have increased in certain industrial sectors like, healthcare sector increased 17.9% and 30.7% in 2020. Also, in 2020 Sanofi launched drugs relating to Eczema and Dupixen which increased the pharmaceutical sale of the company by 6%. The increase in R&D investments and introduction of new medicines will lead to more testing on new drugs and medicinal products in the pharmaceutical & healthcare sector. Hence such an increase in testing will lead to more usage of laboratory chemicals, thereby having a positive impact on the growth of the laboratory chemicals industry in the healthcare & pharmaceutical sector.  

Laboratory Chemicals Market Segment – By Geography

North America held the largest share in the laboratory chemicals market in 2021, with a share of over 45%. This owns to factor as the region consists of countries like the U.S which has some of the largest pharmaceutical companies like Merck, Pfizer, Bristol Myers, and also the country consists of the largest chemical industry in the world. In 2020, U.S Food and Drug Administration approved 53 new innovative drugs and biologics showing a 10% increase compared to 2019. Also, as per the 2021 report of the European Federation of Pharmaceutical Industries and Association with 63.7%, the U.S held the largest share in global sales of new medicine launched during 2015-2020. Moreover, in 2019 the R&D expenditure in the U.S pharmaceutical sector compared to Europe’s, increased by 3% from last year. The rapid increase in R&D expenditure and production & launching of new products in the pharmaceutical sector will lead to more testing and experimental work to prepare such products. Hence such an increase in experimental work will lead to more usage of laboratory chemicals, thereby having a positive impact on the growth of the laboratory chemicals industry in North America.

Laboratory Chemicals Market Drivers

Increase in R&D investments in the pharmaceutical sector

The increase in economic growth, growing healthcare demand, and rising population have increased the demand for new and effective pharmaceutical products. Hence to meet such growing demand the drug companies have increased their R&D investments for producing new medicines and disease-related vaccines. For instance, in 2021 the Serum Institute of India approved Covovax and Corbevax for COVID, and also it approved eight vaccines three of which will be developed in India. as per U.S Congressional Budget Office in 2019, the pharmaceutical industry spent US$83 billion on clinical testing, drug testing, and product extension, hence the amount invested was ten times more than the amount invested in the past two decades. Moreover, as per Food and Drug Administration, the sales of new drugs from 2010-to 2019 increased up to 60% showing a massive increase over the past decade. Hence, the increase in expenditure and sales of new pharmaceutical products and the development of new vaccines will have a positive impact on the laboratory chemicals industry as it will lead to more usage of chemicals for testing and preparing new vaccines and medicine.

Medical Advancements for treating diseases

Medical advancements have become a turning point in the way diseases are diagnosed and treated. The medicine and drugs produced through such advancements have the potential to provide improved treatment for some serious diseases. For instance, the Antiviral Oral Pills developed by Merck and Pfizer in 2021 were designed to prevent the COVID virus and Flu-related diseases from entering the body. Also, in 2021 US Centre for Drug Evaluation and Research approved the development of 50 new innovative therapeutic biological products. Such growing development of pills and medical drugs will lead to more usage of laboratory chemicals for clinical and manufacturing testing thereby having a positive impact on the growth of the laboratory chemicals industry in the medical sector

Laboratory Chemicals Market Challenge

Stringent regulation regarding chemical usage in laboratories

Laboratory chemicals are not of the same type, they have different properties i.e., some are highly flammable or acidic. Any mix or other composition of such chemicals can lead to damaging results of a test. For such reasons, various regulations have been laid by government organizations relating to laboratory-developed tests. For instance, in 2020 the Food and Drug Administration added certain regulations in Medical Device Amendment Act, and in July 2021 introduction of Verifying Accurate Leading-Edge In Vitro Clinical Tests Development Act of 2020 added certain regulations relating to clinical diagnostic tests and Laboratory Development tests. Such an increase in regulations on diagnostic tests leads to an increase in time, cost, and efforts in it, causing less test development. Hence such reduction in test development can lead to less usage of chemicals which can harm the growth of the laboratory chemicals industry in the medical sector.  

Laboratory Chemicals Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Laboratory Chemicals Market top 10 companies include:

  1. Avantor Inc.
  2. ITW Reagents Division
  3. Merck KGaA
  4. Beckman Coulter Inc.
  5. Meridian Life science Inc.
  6. GE Healthcare
  7. Shimadzu Biotech
  8. Dickinson and Company
  9. Lonza Biologics Ltd
  10. EMD Chemicals Inc.

Recent Developments

  • In 2021, Merck acquired Swedish biotech Cord Therapeutics. Hence the acquisition will provide an opportunity for the company to develop cladribine for the treatment of generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD) 
  • In 2021, GE Healthcare new molecular imaging products and solutions at the Society of Nuclear Medicine and Molecular Imaging. Hence this increases access to more innovative precisions diagnostics and radiopharmaceuticals.

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1. Laboratory Chemicals Market- Market Overview
    1.1 Definitions and Scope
2. Laboratory Chemicals Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by End User
    2.4 Key Trends by Geography
3. Laboratory Chemicals Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Laboratory Chemicals Market - Startup companies Scenario Premium  Premium 
    4.1Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Laboratory Chemicals Market – Industry Market Entry Scenario Premium  Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Laboratory Chemicals Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Laboratory Chemicals Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Laboratory Chemicals Market – By Type (Market Size - $Million/Billion)
    8.1 Corrosive Acids
        8.1.1 Organic
        8.1.2 Inorganic
    8.2 Corrosive Bases
    8.3 Flammable chemicals
        8.3.1 Acetone
        8.3.2 Benzene
        8.3.3 Ethanol
    8.4 Oxidizers
        8.4.1 Nitrates
        8.4.2 Peroxides
        8.4.3 Others
    8.5 Water-Reactive Chemicals
        8.5.1 Sodium
        8.5.2 Potassium
        8.5.3 Lithium
    8.6 Compressed Gas
        8.6.1 Flammable
        8.6.2 Oxidizing
    8.7 Others (Explosives, Flammables)
9. Laboratory Chemicals Market – By Application (Market Size -$Million/Billion)
    9.1 Molecular biology
    9.2 Cytokine and Chemokine Testing
    9.3 Carbohydrate Analysis
    9.4 Immunochemistry
    9.5 Cell/ Tissue culture
    9.6 Biochemistry
    9.7 Environmental Testing
    9.8 Other
10. Laboratory Chemicals Market – By End User (Market Size -$Million/Billion)
    10.1 Industrial
        10.1.1 Pharmaceuticals
        10.1.2 Medical
        10.1.3 Agrobusiness
        10.1.4 Automotive
        10.1.5 Consumer goods
    10.2 Education
        10.2.1 Research Institutes
        10.2.2 Universities & Schools
    10.3 Other
11. Laboratory Chemicals Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zeeland
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Laboratory Chemicals Market – Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Laboratory Chemicals Market – Industry/Competition Segment Analysis Premium 
    13.1 Company Benchmarking Matrix – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Laboratory Chemicals Market – Key Company List by Country Premium Premium 
15. Laboratory Chemicals Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global MARKET SEGMENTATION Market 2019-2024 ($M)
1.1 Industrial Market 2019-2024 ($M) - Global Industry Research
1.2 Education Market 2019-2024 ($M) - Global Industry Research
1.3 Government Market 2019-2024 ($M) - Global Industry Research
1.4 Healthcare Market 2019-2024 ($M) - Global Industry Research
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
2.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
3.1 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Education Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Government Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
4.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
5.1 Industrial Market 2019-2024 ($M) - Regional Industry Research
5.2 Education Market 2019-2024 ($M) - Regional Industry Research
5.3 Government Market 2019-2024 ($M) - Regional Industry Research
5.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
7.1 Industrial Market 2019-2024 ($M) - Regional Industry Research
7.2 Education Market 2019-2024 ($M) - Regional Industry Research
7.3 Government Market 2019-2024 ($M) - Regional Industry Research
7.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
9.1 Industrial Market 2019-2024 ($M) - Regional Industry Research
9.2 Education Market 2019-2024 ($M) - Regional Industry Research
9.3 Government Market 2019-2024 ($M) - Regional Industry Research
9.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
10.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
11.1 Industrial Market 2019-2024 ($M) - Regional Industry Research
11.2 Education Market 2019-2024 ($M) - Regional Industry Research
11.3 Government Market 2019-2024 ($M) - Regional Industry Research
11.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
12.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
13.1 Industrial Market 2019-2024 ($M) - Regional Industry Research
13.2 Education Market 2019-2024 ($M) - Regional Industry Research
13.3 Government Market 2019-2024 ($M) - Regional Industry Research
13.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
14.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
2.Canada Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
3.Mexico Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
4.Brazil Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
5.Argentina Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
6.Peru Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
7.Colombia Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
8.Chile Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
9.Rest of South America Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
10.UK Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
11.Germany Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
12.France Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
13.Italy Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
14.Spain Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
15.Rest of Europe Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
16.China Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
17.India Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
18.Japan Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
19.South Korea Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
20.South Africa Italy Laboratory Chemicals Market Revenue, 2019-2024 ($M)
21.North America Italy Laboratory Chemicals By Application
22.South America Italy Laboratory Chemicals By Application
23.Europe Italy Laboratory Chemicals By Application
24.APAC Italy Laboratory Chemicals By Application
25.MENA Italy Laboratory Chemicals By Application