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The key players in the laboratory glassware and plasticware market are Thermo Fisher Scientific (U.S.), Corning, Inc. (U.S.), Eppendorf AG (Germany), and Sartorius (Germany). This market is expected to grow at a single-digit CAGR in the coming years. Strong presence in individual segments in this market will depend on the core competencies of different players.
Companies that launch products targeted at specific requirements in the laboratory glassware and plasticware market are expected to maintain their market positions in the coming years. Thermo Fisher Scientific is one of the leading companies in the laboratory glassware and plasticware market.
The company primarily focuses on strengthening its R&D capabilities to continuously develop and market innovative products. In January 2016, Thermo Fisher Scientific acquired Affymetrix, Inc. (U.S.), a leading provider of cellular and genetic analysis products. Affymetrix provides a wide range of laboratory products for pharmaceutical, biotechnology, and diagnostic applications, among others. With this, Thermo Fisher increased its geographic and commercial reach and strengthened its market presence.
With its global presence in over 17 countries and strong customer base, Corning has maintained its strong position in the laboratory glassware and plasticware market. Corning’s Life Sciences segment collaborates with researchers to seek new opportunities to increase efficiencies, reduce costs, and decrease timelines in the drug discovery process.
The company focuses on acquisitions to expand its reach in the market. In November 2012, Corning, Inc. completed the acquisition of the Discovery Labware business segment of Becton, Dickinson and Company, (U.S.). This acquisition helped in the expansion of Corning Life Sciences’ market presence in Asian countries, especially in India, Japan, and Korea. However, its R&D expenditure in recent years has shown a decline due to lowered variable compensation and decrease in revenue from display technologies and specialty materials segments.
Companies in the laboratory glassware and plasticware market are majorly focusing on expanding and entering segments for new indications and technologies. New product launch is the major strategy adopted by key market players to enhance their product offerings and increase their shares in the laboratory glassware and plasticware market. A number of market players also adopted the strategy of acquisitions, which accounted for a significant share of the total number of strategic developments undertaken by market players in recent years.
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