"Increasing Adoption of Laboratory Ovens Globally to Ensure Rapid Growth for Laboratory Oven Market"
Globally, the laboratory oven market is expected to grow with a CAGR of 4.6% during the forecast period from 2019 to 2027. The laboratory ovens are majorly used across laboratories for different applications including evaporating, dehydrating, annealing, conditioning, baking, sample drying and other processes. They are majorly manufactured from stainless steel with a spray-painted surface that protects them from the rust. These laboratory ovens are equipped with a temperature controller, digital display system, air blower, low noise level and temperature distribution system. Ongoing evaluations in the healthcare and medical research sectors are the key factor that drives the growth of laboratory oven market.
The rapidly growing demand for the blood banks are promoting the growth of laboratory ovens market. Furthermore, the growing adoption of laboratory ovens in the food testing is expected to augment the growth of laboratory oven market. The availability of different types of the oven with respective applications are favoring the growth of laboratory ovens market. Moreover, the ongoing development in the laboratory equipment to provide minimum errors are projected to create several growth opportunities in the laboratory over the market in the near future.
"Growing demand of Laboratory oven medical research promoting the Market growth"
The global laboratory oven market is segmented into of types and the end users. Based on types, the market is further bifurcated into gravity ovens, forced-air ovens, vacuum ovens, digital air forced ovens, others. The gravity ovens hold considerable shares in the laboratory ovens market. At present, High-quality at an economical price offered by the gravity ovens are driving the growth gravity ovens in the type segments. Growing investments in the medical research is promoting the growth of laboratory oven market. Based on end users, the market is segmented into healthcare, medical research, food testing, agriculture and others. Growing adoption of laboratory ovens in the food testing market.
"North America Dominates the Market by Region"
North America held a maximum market share of approximately more than 30% of the total market share. It is estimated to dominate the laboratory oven market through the forecast period. The prevalence of major players and high adoption of laboratory ovens in the medical research are driving the growth of North America laboratory ovens market. Furthermore, Asia Pacific is expected to grow with the highest CAGR in the laboratory ovens market. The rapidly growing adoption of laboratory ovens in the agriculture testing applications and the growing healthcare expenditures are majorly promoting the growth of Asia Pacific water sinks market.
Some of the prominent players operating in the laboratory oven market include JIM Engineering Ltd, Carbolite Gero Limited, InterFocus Ltd., Agilent Technologies, PHC Corporation, Ted Pella, Inc., Thermo Fisher Scientific Inc., Terra Universal. Inc., SciQuip Ltd, Yamato Scientific America Inc., BMT Medical Technology s.r.o., VWR Lab Products Pvt. LTD. (Avantor) and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Laboratory Oven market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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End-User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
