Fairfax, VA – The Laboratory Products Association (LPA) has announced the release of its 2011 Annual Forecast & Analysis of the Laboratory Products Market which has been produced by Frost & Sullivan’s Healthcare and Life Sciences Consulting Group.
The report covers the global and U.S. markets for laboratory products to include the size and growth of the total laboratory products market (U.S. and outside-U.S.), as well as the product segment markets and end-user market segments.
It contains not only secondary research, but primary research as well. Frost & Sullivan conducted a comprehensive survey of secondary sources as well as in-depth interviews of both end-users and LPA members for the primary research.
The three product segments include: laboratory instruments and equipment; laboratory chemicals, reagents, and kits; and laboratory consumables which are further broken down. The end-user market segments covered are: biopharmaceutical; academic; industrial; government; and patient care.
According to the report, the global laboratory products market totaled $36.2 billion in 2010. Approximately 43% of revenues were generated in the United States and 57% outside the U.S. The sales of chemicals, reagents, & life science kits, continues to be the leading contributor to global market growth. The global market for 2011 is expected to increase 4.3% to nearly $38 billion and the U.S. market is expected to increase 3.2%.
LPA President, Clark Mulligan remarked that the market report is an extremely valuable resource on the global and U.S. laboratory products market. “There is always a need for solid industry data and information by our members and this report from Frost & Sullivan certainly fulfills this need,” Mulligan commented.
Frost & Sullivan formally presented the report, which is available only to LPA members, at its Annual Meeting on November 7 in Naples, Florida.
For more information on the LPA contact Clark Mulligan or visit www.lpanet.org.
The Laboratory Products Association (LPA) was founded in 1918 as the Scientific Apparatus Makers Association. Its member companies are manufacturers and distributors of lab products and services such as glass and plasticware, chemicals, equipment and supplies used in scientific research and applied science and life science worldwide.