Laboratory Oven Market Is Driven By Increasing Usage In Medical Research And Healthcare Industry

Laboratory Oven Market Is Driven By Increasing Usage In Medical Research And Healthcare Industry

According to a new market research report published by Credence Research “Global Laboratory Oven Market (Technology (Gravity Ovens, Forced-Air Ovens, Vacuum Ovens, Digital Air Forced Ovens and Others); Capacity (Small (Under 2 cu. Ft.), Standard (2 cu. Ft-6 cu. Ft.) and Large (Above 6 cu. Ft.)) End-User (Healthcare, Medical Research, Food Testing, Agriculture and Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall laboratory oven market worldwide is set to grow with a CAGR of 4.6% during the forecast period.

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Market Insights

The key factor that drives the growth of laboratory ovens market is the continued modernization of clinical research and improving healthcare sector. Government organizations across several countries are more investing in healthcare improvers. Thus, this promoting the growth of laboratory oven market worldwide. The ongoing developments in the laboratory equipment are contributing to the growth of laboratory ovens market.  The various applications of laboratory ovens in several laboratory, food testing industries and healthcare applications are propelling the growth of laboratory oven market.

Among the end users, the global market of laboratory oven market is bifurcated as healthcare, medical research, food testing, agriculture and other. Among these distribution channels, healthcare and the medical research holds the significant market share in the laboratory oven market. The two segments collectively contribute to more than 50% of the total market value generated worldwide. The growing demand for the accurate and reliable results for the medical testing is rising the adoption laboratory ovens. This is will further escalation the growth of laboratory oven market in near future.

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North America holds the maximum market share in the laboratory oven market followed by Europe. The improved healthcare capabilities is the key factor that drives the growth of North America laboratory ovens market. The U.S. is expected to dominate the North America laboratory ovens market through the forecast period. Additionally, the growing investments in the medical research are promoting the growth of laboratory oven market in this region. Furthermore, Asia Pacific is the fastest-growing region in the laboratory oven market owing to the increased research and development in the healthcare and pharmaceutical sector, growing investments in the research and government support.

The key players in the 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.

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