(PharmaNewsWire.Com, April 02, 2021 ) According to the new market research report "Laboratory Gas Generators Market by type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (Gas Chromatography, LC-MS), End user (Life Science Industry, Chemical & Petrochemical Industry, Food & Beverage Industry) - Global Forecast to 2026", published by MarketsandMarkets™, the global Lab Gas Generators Market is projected to reach USD 686 million by 2026 from USD 353 million in 2021, at a CAGR of 14.2% during the forecast period.
Covid -19 Impact On The Labortaory Gas Genertaors Market;
COVID-19 has negatively impacted the laboratory gas generators market. This can be attributed to disruption of operation and supply chain, decrease in customer demand, and global economic slowdown.
Laboratory gas generators are devices utilized to produce pure gas for lab experiments and other analytical applications. Laboratory gas generators are widely used along with analytical instruments. Companies like Thermo Fisher Scientific, PerkinElmer, and Agilent Technologies have experienced a great loss in their analytical instruments’ segmental revenue due to the closure of research centers, academic institutes, and laboratories worldwide. A dip of 16% in academic end users was experienced by Agilent in the first quarter of 2020. Thermo Fisher Scientific’s revenue was reduced by 16.79% in the first quarter of 2020 (January to March). The impact was mainly due to the hit on its academic end-user market, especially in China, followed by other regions.
A survey conducted by Science Advisory Board has shown that COVID-19 has limited the functioning of scientific research laboratories across the globe.
The liquid chromatography-mass spectrometry (LC-MS) segment accounted for the largest market share in 2020
Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications. The liquid chromatography-mass spectrometry (LC-MS) accounted for the largest share of the global market. The large share of this segment can be attributed to the high efficiency and the expandable and scalable nitrogen generation capacity of generators in LC-MS applications.
Life science industry is the largest end-users of the laboratory gas generators market
Based on end-user, segmented into the life science industry, chemical and petrochemical industry, food and beverage industry, and other end users (environmental companies and research & academic institutes). The life science industry accounted for the largest share of the global market. The major factors driving the growth of this segment are the rising demand for laboratory analytical instruments, increase in drug research activities, and stringent regulations relating to the drug discovery process.
North America dominates the global laboratory gas generators market
The Lab Gas Generators Market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global market. The large share of the North American region is mainly attributed to the high investments in R&D in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment.
The major players in the laboratory gas generators market are Parker Hannifin Corporation (US), PeakGas (UK), Linde plc (Ireland), Nel ASA (Norway), PerkinElmer Inc. (US), VICI DBS (US), Angstrom Advanced Inc. (US), Dürr Group (Germany), ErreDue spa (Italy), F-DGSi (France), LabTech S.r.l. (Italy), CLAIND S.r.l. (Italy).
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