(EMAILWIRE.COM, November 23, 2018 ) According to a new market research report "Laboratory Glassware and Plasticware Market by Product (Glassware (Pipette, Flasks, Containers, Petri Dishes, Slides), Plasticware (Pipette, Laboratory Beakers, Racks, Storage Boxes)), End User (Diagnostic Center, Pharmaceuticals) - Forecast to 2020", published by MarketsandMarkets, The market is expected to reach USD 6.0 Billion by 2020 from USD 4.99 Billion in 2015, growing at a CAGR of 3.7% during the forecast period 2015-2020.

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A number of factors such as increasing demand for plasticware, cost-effectiveness of plasticware, and technological advancements in plasticware are driving the market growth. On the other hand, the brittle nature of glass (resulting in low preference for glassware) and lack of funds (resulting in fewer research activities, thus affecting both glassware and plasticware markets) are the major market restraints. Specialty glass, however, is expected to offer growth opportunities for market players during the forecast period.

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The glassware market is segmented into pipettes and pipette tips, storage containers, beakers, flasks, and petri dishes. The pipettes and pipette tips segment is expected to account for the largest share of the laboratory glassware market in 2015. Glass pipettes are easy to autoclave, owing to which they are widely used in academic institutes and research laboratories.

North America is expected to account for more than 40% of the Laboratory Glassware and Plasticware Market in 2015. In this region, R&D studies make use of laboratory glassware and plasticware on a large scale, which is a major factor responsible for the large share of North America in this market. However, in the coming years, the Asia-Pacific market is expected to witness the highest growth owing to the rising outsourcing activities in research and manufacturing as a result of low costs and access to skilled labor in this region.

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Major players in this market include Corning, Inc. (U.S.), Eppendorf AG (Germany), Sartorius AG (Germany), and Thermo Fisher Scientific, Inc. (U.S.).