Laboratory Equipment Manufacturing is a rapidly growing sector in the country as well as across the globe. The prime factors that are driving this market are growing awareness about health issues, the growing number of lifestyle diseases, an increase in investments in healthcare,
and the growth of the healthcare industry. According to a recent study, the global laboratory equipment
manufacturing market is forecasted to surpass USD 11 billion by the end of the year 2022 at a high CAGR of over 10 percent.
The growth in the Research & Development initiated by the government along with heavy capital expenditure in the laboratory equipment sector is boosting the growth of the laboratory equipment manufacturing sector in India. Since laboratory equipment relies heavily on technology, it should come as no surprise that laboratory trends are changing rapidly with the evolving technology. “Relying on traditional machinery and equipment cannot let us conquer the burgeoning competition and therefore, it is crucial for us to adapt swiftly with new and smart laboratory equipment”, says Ravi Jain, Director Jain Laboratory Instruments.
Focus on Quality Control
There is always some level of inaccuracy while making the measurements. Reliable instruments with high accuracy are used in the laboratories for reducing downtime. Quality control is one of the most important aspects of laboratory testing which entirely depends on the laboratory equipment. The laboratory equipment is used to reduce the level of inaccuracy in Research & Development organizations.
Storing Data on Cloud
The new-age laboratory equipment is capable enough to record and submit data to cloud storage. When the laboratory is functioning in an ideal environment, then only it can generate desired and fruitful results. If something goes wrong, the new laboratory equipment can alert a scientist or lab technician. Even a tiny increase or decrease in temperature is enough to alter the results of an experiment if they are not fixed immediately.
Currently, the boilers and freezers which are used in laboratories can alert the concerned lab technician if there is any unexpected change in the temperature.
Around 85 percent of scientists and lab technicians accepted that Cloud storage has been very helpful in their work. Cloud storage has made it possible to keep an eye on an experiment via phone or computer from any location.
Laboratory Equipment getting Smaller
The lab equipment manufacturers are focusing to decrease the size of equipment as the step can save a lot of space and is easy to carry. Nowadays, valves and pumps which were once used for the storage of samples are eliminated and fluidic components are used in their place. These fluidic components integrate multiple laboratory functions into a single chip and therefore save a lot of money and manpower.
Automation of Laboratory Equipment
With the advancements in technology, a single machine or equipment is now able to perform different tasks. The equipment is more flexible in nature as compared to traditional ones. The automation of laboratory equipment has been leveraged in Genomics, Proteomics, and Robotics. Automation of laboratory equipment has eliminated a lot of time-consuming, repetition of experimental steps which were performed earlier manually. Therefore, the results of these experiments are also generated in a short period. This enabled the researchers to focus on more analysis of data rather than waiting for its results.
In the last few years, eco-friendly products have been the talk of the town in every area of life. Since, there is substantial energy and resources required to operate research or testing facility, most of the laboratories are taking measures to reduce their carbon footprint and contribute to the environment. Laboratories are investing in eco-friendly equipment that is known to require less energy while delivering exceptional performance in the experiments. The new eco-friendly laboratory equipment allows technicians to respond more effectively to emergencies and monitor laboratory procedures in an efficient manner.
Improved Diagnostic Equipment
Modern laboratories are focusing on the latest equipment and devices for the diagnosis of diseases as a huge number of diagnostic samples need to be analyzed in laboratories and research centers in day-to-day life. There is stellar demand for improved safety procedures across all forms of research facilities in laboratories. Nowadays, laboratory equipment does not just include cups, beakers, and test tubes, but a number of other precautionary and safety tools for the diagnosis of chronic diseases. This rise in clinical diagnostic testing in the country is proving to be a game-changer for the laboratory equipment manufacturing market.
The Way Forward
By embracing the advancements and evolving changes in laboratory equipment manufacturing, researchers have more options available today than ever before. Researchers and lab technicians are now able to streamline procedures and cut costs in a more efficient manner. Asia is forecasted to be the most fast-growing region in this market, owing to the rise in focus of the pharmaceuticals and biotech sectors in developing countries for clinical trials. In addition to this, markets that are still developing like India will witness a growing number of advanced laboratory equipment in the coming future.