Laboratory Chemicals Market Analysis

Global Laboratory Chemicals Market Overview

Laboratory Chemicals Market Size was valued at USD 3.7 Billion in 2023. The Laboratory Chemicals market Type is projected to grow from USD 3.89 Billion in 2024 to USD 5.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.63% during the forecast period (2024 - 2032). Growth in the number of wastewater treatment and sewage water treatment facilities, as well as improvements in laboratory chemicals, are the key market drivers enhancing the market growth. 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Several industrial processes heavily rely on laboratory chemicals, like bromination and cryogenic reactions. There will probably be a growth in the demand for laboratory chemicals due to higher factory demand. Using chemical reagents in laboratories has numerous uses in the national defense, healthcare, life sciences, and environmental protection sectors. Due to the rising use of chemical reagents in various commercial applications and fundamental research initiatives, the demand for laboratory chemical reagents is anticipated to expand rapidly. Additionally, during the forecast period, the market may expand due to increasing requests from the biotechnology sector. The market for DNA and protein sequencing reagents has grown dramatically. The presence of cheaper lab chemicals will probably restrain market expansion. The pharmaceutical industry's increased productivity, technological developments in the treatment of diseases, and rising R&D expenditures for creating long-lasting and environmentally friendly consumer goods are the primary reasons for the growth of the laboratory chemicals market.

Acid chloride setup, nitration, carboxylation, ion-exchange reactions, Suzuki coupling, or Williamson's ether synthesis are a few of the procedures that involve laboratory chemicals most frequently. DNA and cell structure recombination is high-end market growth. It is a method for locating genetic diseases and developing fresh medications. This significant market innovation will also trigger a significant expansion. Technological advancements in the demand for laboratory chemicals will attract new end users. As a result, demand is increasing. The market for lab chemicals is also significantly impacted by the rising need for biopharmaceutical businesses. The pharmaceutical industry consumes a sizeable portion of the marketplace for laboratory chemical reagents. Another factor limiting growth is the surge in market investments. These substances are crucial to the re-crystallization and distillation procedures used to create a wide range of commercial goods. The rate of testing and trials had accelerated due to the healthcare sector's rapid expansion and the emergence of new facilities for producing medicines, vaccines, and agrochemicals.

According to information provided by the firm, the Brunsbüttel factory concentrates on cutting-edge and environmentally friendly solutions for Sasol's major markets, such as coatings, lubricants, and metalworking. The 7000-square-meter facility's planning and construction got underway in April 2019. It can accommodate 140 personnel and has thirty-three offices and 82 testing stations. The facility's qualified staff will be able to analyze up to 200,000 samples annually using its cutting-edge equipment.

Laboratory Chemicals Market Trends

• Increasing demand from the industrial sector is driving the market growth

Due to the increased demand from the industrial sector, there will likely be a rise in the need for laboratory chemicals. Chemical reagents used in laboratories have many applications in the fields of environmental protection, healthcare, life sciences, agriculture, and national defence. The market for laboratory chemical reagents is expected to grow significantly as a result of the increased usage of chemical reagents in a variety of commercial applications and basic research projects. In addition, growing demand from the biotechnology industry may cause the market to grow throughout the course of the projection period. The market for reagents for DNA and protein sequencing has significantly increased recently. It's probable that the availability of substitute lab chemicals will impede market growth.

Several industrial processes, like bromination and several cryogenic reactions, heavily rely on laboratory chemicals. Acid chloride preparations, carboxylation, ion-exchange reactions, nitration, Suzuki coupling, and Williamson's ether synthesis are a few of the procedures that involve laboratory chemicals most frequently. These substances are crucial to the re-crystallization and distillation processes used to create a wide range of commercial goods. Increasing investments in the R&D division to create new chemicals that are equally sustainable and less damaging to the environment are the result of occupational and industrial safety and disaster prevention efforts. Consequently, it is anticipated that rising industrial demand will boost demand for laboratory chemicals.

Technology advancements in the health sector influence market demand. Recombination of DNA and cell structures is a high-end market development. It is a tool for identifying genetic illnesses and creating novel drugs. This important market breakthrough will also lead to a large expansion. Technological developments in the market for laboratory chemicals will attract new end users. Demand is rising as a result of the development of biotherapeutics. The growing demand for biopharmaceutical companies has a significant impact on the market for laboratory chemicals as well. The pharmaceutical industry is a significant end-user for the market for laboratory chemical reagents. The rise in market investments is another element restraining growth. As a result of tremendous investment, the market has seen numerous developments. In addition, the government's actions are hastening the market's expansion. Government actions are leading to the approval of more laboratory chemical reagent items. Furthermore, this element is widely known throughout the world. The market is growing quickly due to all of these factors.Thus, driving the Laboratory Chemicals market revenue.

Laboratory Chemicals Market Segment Insights

Laboratory Chemicals Type Insights

The Laboratory Chemicals market segmentation, based on type, includes cytokine and chemokine testing, biochemistry, molecular biology, environmental testing, cell/tissue culture, carbohydrate analysis and others. In 2022, the market was dominated by the cytokine and chemokine testing segment. This is due to the widespread use of cytokine and chemokine testing in industries like agriculture, nutrition, and medicine. It is used in agriculture to investigate soil and fertilisers, in medical to identify the cause of sickness and treat it, and in nutrition to discover how to maintain health and wellness. The rapid growth of the healthcare industry and the appearance of new manufacturing facilities for pharmaceuticals, vaccines, and agrochemicals had increased the rate of testing and trials.

Laboratory Chemicals Application Insights

The Laboratory Chemicals market segmentation, based on application, includes government, education, industrial, and healthcare. Industrial segment dominated the market in 2022. This is due in part to the fact that industries like pharmaceuticals and healthcare are rapidly boosting their productivity through the introduction of new treatments and medicines and increased R&D spending. For instance, according to the 2021 report of the European Commission, the U.S. and China have expanded their R&D spending in key industrial areas, such as the healthcare industry, which climbed 17.9% and 30.7% in 2020.

Laboratory Chemicals End User Insights

The Laboratory Chemicals market segmentation, based on end user, includes pharmaceutical & biotechnological companies, academic & research institutions, and others. Pharmaceutical & biotechnological companies segment dominated the Laboratory Chemicals market in 2022.Ultra-high performance liquid chromatography (UHPLC), high performance liquid chromatography (HPLC), gas spectrometry (GS), and mass spectrometry (MS) reagents are the primary technologies employed in pharmaceutical and biotechnology organisations. As a result, over the projection period, the demand for laboratory chemicals will increase due to the growing use of these compounds.

Figure 1: Laboratory Chemicals Market, by End User, 2022 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

An Indian start-up called Haber revealed that it is enlarging its current facilities to incorporate a unique lab dedicated to application, chemical research, and analytical sensor creation. The company's flagship item, the AI-driven eLIXA®, automates the laborious manual procedures of manufacturing, collecting samples, measurement, analysis, and treatment. The new lab's opening coincides with a critical period in which AI must attain and accelerate maximum efficiency.

Laboratory Chemicals Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Laboratory Chemicals Market dominated this market in 2022 (45.80%). This is crucial to keep in mind because the region contains countries like the U.S., which is home to the world's largest chemical industry and some of the major pharmaceutical companies, like Merck, Pfizer, and Bristol-Myers. In 2020, the U.S. Food and Drug Administration approved 53 new medications and biologics, a 10% increase from 2019. Further, the U.S. Laboratory Chemicals market held the largest market share, and the Canada Laboratory Chemicals market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: LABORATORY CHEMICALS MARKET SHARE BY REGION 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Laboratory Chemicals market accounted for the healthy market share in 2022. More testing and experimental work will be required to develop these items as a result of the pharmaceutical industry's rapid expansion in R&D spending, production, and product launches. As a result, the use of laboratory chemicals will expand due to the increase in experimental activities, which will positively affect the development of the laboratory chemicals sector in Europe.Further, the German Laboratory Chemicals market held the largest market share, and the U.K Laboratory Chemicals market was the fastest growing market in the European region.

The Asia Pacific Laboratory Chemicals market is expected to register significant growth from 2023 to 2032. This is due to the creation of new academic institutions throughout the area, particularly in the fields of chemical and biological sciences. Similar to how new pharmaceutical businesses entering the area will increase investment in additional R&D activities, allowing for more test analysis. The demand for the chemical lab to assess drug quality or test the quality of products in the chemical industry, food industry, or biological sectors of research and development will also increase as clinical research subcontracting operations grow in the Asian region. Moreover, China’s Laboratory Chemicals market held the largest market share, and the Indian Laboratory Chemicals market was the fastest growing market in the Asia-Pacific region.

Laboratory Chemicals Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Laboratory Chemicals market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Laboratory Chemicals Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Laboratory Chemicals Industry to benefit clients and increase the market sector. In recent years, the Laboratory Chemicals Industry has offered some of the most significant advantages to medicine. Major players in the Laboratory Chemicals market, including Lonza Biologics Ltd PerkinElmer Inc., BD Biosciences, bioMerieux, Beckman Coulter Inc., GE healthcare, EMD Chemicals Inc., Meridian Life science Inc., Shimadzu Biotech, and Takara Bio Inc., are attempting to increase market demand by investing in research and development operations.

A healthcare organisation called Avantor Inc. (Avantor) produces and sells chemicals, reagents, and lab supplies. Amino acids, silicones, bioreagents, denaturants, gas, solvents, stains, colours, and minerals are among the company's product offerings. Among other things, Avantor's services include education, lab and production, sourcing and procurement, services for lab equipment, commercial kitting, and downstream optimisation. Additionally, it offers laboratory services. The business expanded its services under a variety of its brand names, including VWR, Nusil, J.T. Baker, Macron specialty chemicals, and Poch. The corporation has offices in Taiwan, Mexico, the Netherlands, Poland, India, Malaysia, and South Korea. Radnor, Pennsylvania, in the United States, is home to Avantor's headquarters. Avantor Inc. successfully completed the previously disclosed acquisition of Ritter GmbH and its affiliates in June 2021.

A biopharmaceutical firm called Merck & Co Inc (Merck) is dedicated to the discovery, development, production, and marketing of prescription drugs, biologic therapies, vaccines, and animal health products. It provides products on prescription for the treatment of conditions like diabetes, cancer, immunological diseases, cardiovascular disease, and cancer. The business offers vaccinations, poultry, cattle, and aquaculture products, among other animal health items. Merck provides managed healthcare services to hospitals, government organisations, wholesalers, retailers, and hospitals. It also provides veterinarians, distributors, and animal producers with animal health products. Operating in the Americas, Europe, the Middle East, Africa, Asia Pacific, and Latin America are the company and its subsidiaries. Outside of North America and Canada, Merck is known as MSD, and its main office is in Kenilworth, New Jersey. Merck purchased Cord Therapeutics, a Swedish biotech company, in 2021. As a result, the acquisition will give the company the chance to develop cladribine for the treatment of neuromyelitis optica spectrum disease (NMOSD) and generalised myasthenia gravis (gMG).

Key Companies in the Laboratory Chemicals market include

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  Lonza Biologics Ltd PerkinElmer Inc.

  
  


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  BD Biosciences

  
  


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  bioMerieux

  
  


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  Beckman Coulter Inc.

  
  


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  EMD Chemicals Inc. Meridian Life science Inc.

  
  


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  Shimadzu Biotech

  
  


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  Takara Bio Inc.

  
  


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  GE healthcare

  
  

Laboratory Chemicals Industry Developments

2021: At the Society of Nuclear Medicine and Molecular Imaging, GE Healthcare presented brand-new molecular imaging devices and solutions. As a result, there is now more access to cutting-edge radiopharmaceuticals and precise diagnostics.

Laboratory Chemicals Market Segmentation

Laboratory Chemicals Type Outlook

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  Cytokine and Chemokine Testing

  
  


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  Biochemistry

  
  


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  Molecular Biology

  
  


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  Environmental Testing

  
  


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  Cell/Tissue Culture

  
  


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  Carbohydrate Analysis

  
  


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  Others

  
  

Laboratory Chemicals Application Outlook

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  Government

  
  


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  Education

  
  


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  Industrial

  
  


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  Healthcare

  
  

Laboratory Chemicals End User Outlook

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  Pharmaceutical Companies

  
  


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  Biotechnological Companies

  
  


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  Academic & Research Institutions

  
  


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  Others

  
  

Laboratory Chemicals Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America