Disposable Cuvettes Market Size Anticipated to Reach $45 Million by 2026
Factors Such as Rise in Number of Healthcare Centers Are Amongst the Major Factor Projected to Impel Growth of Disposable Cuvettes Market.
Disposable Cuvettes Market size was valued at $37 million by 2020, and is anticipated to reach $45 million by the end of 2026 growing at a CAGR of 6.2% during the forecast period 2021-2026. The disposable cuvettes industry growth rate is attributed to the technological advancements associated with disposable cuvettes demand; adoption of single-use laboratory consumables is increasing and is anticipated bringing new opportunities. A disposable cuvette is a small plastic tube with a circular or square cross section and a single end that is sealed. These cuvettes are used to carry samples for spectroscopic experiments, and a beam of light will pass through the cuvette from two clear sides to determine the absorbance value with a spectrophotometer.
Disposable cuvettes are usually made of polystyrene and Polymethyl methacrylate are suitable for use with polar solvents, alkaline solutions, and acids. The dynamics of the global market for disposable cuvettes are largely determined by pharmaceutical companies. They are usually used in pairs and must coordinate optically. Spectroscopy and cytometry are two applications for cuvettes. UV disposable cuvettes are becoming more common due to their low cost and potential to replace costly quartz cuvettes in the coming years.
Disposable Cuvettes Market Segment Analysis - By Product Types
On the basis of product types, Polystyrene segment accounted for the largest segmental revenue of the disposable cuvettes market in 2020. This is owing to the reason that majority of Bio-Rad disposable cuvettes are molded from polystyrene, making them ideal for use with the Bio-Rad protein assay, the DC protein assay, and the RC DC protein assay. Furthermore, Polystyrene is also set to be the fastest-growing withy a CAGR of 6.7% during the forecast period 2021-2026. This is owing to its increasing demand among major applications and its majority usage by manufacturing companies.
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Disposable Cuvettes Market Segment Analysis - By End Users
On the basis of end users, medical health segment accounted for the largest segmental revenue of the disposable cuvettes market in 2020. The large share can be attributed to the healthcare manufacturers’ ability to create precision cuvettes for the best performance. The segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.50%. The medical health are to witness a healthy growth owing to the reduced risk of cross contamination during laboratory experiments, as disposable cuvettes are becoming more common which is also anticipated to offer significant growth for the medical health segments during the forecast period 2021-2026.
Disposable Cuvettes Market Segment Analysis - By Geography
North America is the major region dominating the disposable cuvettes market with a market share of 33.89% in the year 2020. This can be attributed to the presence of developed pharmaceutical market coupled with the presence of large number of significant players operating in this area, as well as the growing potential of healthcare spending. Furthermore, the industry is poised to be driven by large private sector investments and a growing number of new product approvals pertaining to optimum use as cuvettes are anticipated to fuel market growth during the forecast period 2021-2026.
Disposable Cuvettes Market Drivers
Advancements With Increasing Awareness to Escalate Market Demand
The disposable cuvettes market is poised to receive upswing owing to an increase in adoption of single use laboratory consumables. Furthermore, advances in the field of medical devices are poised to drive the global disposable cuvettes market forward.
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Disposable Cuvettes Market Challenges
Lack Of Robust Material
Despite several drivers, one of the major factor hindering is the lack of robust material in disposable plastic cuvettes thereby, challenging the regional market growth. However, novel disposable cuvettes have a high chemical tolerance and are ideal for various protein analyses at wavelengths ranging from 230 to 900nm. Moreover, because of the reduced risk of cross contamination during laboratory experiments, disposable cuvettes are becoming more common which is to pose barrier to the challenges.
Disposable Cuvettes Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Disposable Cuvettes market. In 2020, Disposable Cuvettes market share is fragmented by the top ten players present in the market. The Disposable Cuvettes market top 10 companies are Shimadzu Oceania, BrandTech Scientific, Inc., Hellma GmbH & Co. KG, Japan Spectroscopic Company (JASCO), Agilent Technologies, Inc., Vernier Software & Technology, LLC, Cole-Parmer India Pvt. Ltd., VWR International, LLC., Starna Scientific Limited, Thorlabs, Inc., Jade Scientific, Inc. and others.
In 2019, Japan Spectroscopic Company (JASCO) announced joint venture with University of Pennsylvania (Philadelphia) to develop a new center for spectroscopy.
North America dominated the disposable cuvettes market with a majority of share in the year 2020.
The factors such as rise in number of healthcare centers are amongst the major factor projected to impel growth of disposable cuvettes market.
Additionally, factors such as technological advancements and increase in R&D expenditure in the development of disposable cuvettes are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.
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