The Global Laboratory Gas Generators Market is projected to reach USD 686 million by 2026 from USD 353 million in 2021, at a CAGR of 14.2% during the forecast period. The growth of the laboratory gas generators market is primarily driven by the growing importance of analytical techniques in drug and food approval processes, rising food safety concerns, increasing adoption of laboratory gas generators owing to their various advantages over conventional gas cylinders, growing demand for hydrogen gas as an alternative to helium, and the increasing R&D spending in target industries. On the other hand, reluctance shown by lab users in terms of replacing conventional gas supply methods with modern laboratory gas generators and the availability of refurbished products are the major factors expected to hamper the growth of this market.
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Global Nitrogen gas generators Market Dynamics
DRIVER: Increasing R&D spending in target industries
With a growing focus on developing and delivering effective solutions, there has been a significant increase in the overall R&D activities in industries such as life sciences, chemical and petrochemical, and food and beverages. In 2019, Pharmaceutical Research and Manufacturers of America (PhRMA) members invested USD 83 billion in R&D, establishing the biopharmaceutical industry as the most R&D-intensive sector in the US. Similarly, the European Commissions new framework, Horizon 2020, proposed a budget allocation of USD 110.99 billion (EUR 100 billion) for research activities for the period of 2021 to 2027 (Source: European Commission).
OPPORTUNITY: Opportunities in the life sciences industry
The demand for the analytical testing of cannabis for ensuring its safety before human consumption has increased in recent years, as medical cannabis is being legalized in a number of countries/states across the globe. Medical cannabis has proven effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma. Owing to their health benefits, governments in various countries are legalizing the use of medical cannabis. Australia (2016), Canada (2015), South Korea (2018), Portugal (2001), the UK (2006), Germany (2017), Italy (2013), the Netherlands (2003), and Brazil (2017) have all legalized the use of medical cannabis in recent years.
CHALLENGE: Availability of refurbished products
The availability of refurbished laboratory gas generators is a major challenge to the growth of this market. KRSS Ltd. (US), SpectraLab Scientific Inc. (Canada), McKinley Scientific (US), and GenTech Scientific LLC (US) are some of the companies offering refurbished laboratory gas generators such as hydrogen gas generators, nitrogen gas generators, and zero air generators. Many end users, mainly small and medium-sized laboratories, look for cost-effectiveness and opt for refurbished systems, particularly in price-sensitive markets in developing countries.
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The hydrogen gas generators segment accounted for the highest growth rate in the Labortaory gas generators market, by type, during the forecast period
Based on type, the laboratory gas generators market is segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, TOC gas generators, and other gas generators. The hydrogen gas generators segment accounted for the highest growth rate in the Labortaory gas generators market in 2020. This can be attributed to the growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.
Gas chromatography segment accounted for the highest CAGR
Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications. In 2020, gas chromatography accounted for accounted for the highest growth rate. The major factors driving the growth of this is the adoption of hydrogen over helium due to the latters high cost and scarcity in gas chromatography.
Life science industry accounted for the largest share of the laboratory gas generators market in 2020
Based on end user, the laboratory gas generators market is segmented into the life science industry, chemical and petrochemical industry, food and beverage industry, and other end users (environmental companies and research & academic institutes). The life science industry accounted for the largest share of the global laboratory gas generators market. The major factors driving the growth of this segment are the rising demand for laboratory analytical instruments, increase in drug research activities, and stringent regulations relating to the drug discovery process.
North America accounted for the largest share of the hydrogen gas generators market in 2020
The laboratory gas generators market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global laboratory gas generators market. The large share of the North American region is mainly attributed to the high investments in R&D in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment.
Recent Developments:
- In 2020, PeakGas launched various laboratory gas generators such as Genius XE SCI 2, MS Bench (G) SCI 2, MS Bench SCI 2, and i-Flow O2 oxygen gas generator.
- In 2019, Laboratory Supplies Ltd. (Ireland), a supplier of scientific, industrial, and laboratory apparatus, joined the distributor network of the Asynt Ltd.
Frequently Asked Questions (FAQ):
- What is the projected market value of the global laboratory gas generators market?
- What is the estimated growth rate (CAGR) of the global laboratory gas generators market for the next five years?
- Who are the major players offering laboratory gas generators in the market?
- Which type segment of the global laboratory gas generators market is expected to witness the highest growth?
- Which end user segment is expected to have largest market share during the forecast period?
Key Players:
Hannifin Corporation (US), PeakGas (UK), Linde plc (Ireland), Nel ASA (Norway), PerkinElmer Inc. (US), VICI DBS (US), Angstrom Advanced Inc. (US), Dürr Group (Germany), ErreDue spa (Italy), F-DGSi (France), LabTech S.r.l. (Italy), CLAIND S.r.l. (Italy).
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