Lewes, DE -- (SBWIRE) -- 06/15/2016 -- Report forecast the global laboratory rack market to grow at a CAGR of 4.3% during the period 2016-2020.

A laboratory rack is a type of laboratory consumable that is used to temporarily store or hold sample handling labware such as test tubes, petri dishes, bottles, and slides. In addition, laboratory racks are used for drying labware and other laboratory utensils, and are also called drying racks. Another common type of laboratory rack is a freezer or cryogenic rack that is used to store test tubes or microcentrifuge tubes in freezers.

The report covers the present scenario and the growth prospects of the global laboratory rack market for 2016-2020. The market size was calculated from revenue generated from the sales of laboratory racks by market vendors in the following categories.

- Tube racks
- Bottle racks
- Other

The market is divided into the following segments based on geography:
- Americas
- APAC
- Europe
- MEA

According to the report, a key growth driver is the rising R&D expenditure. With nations continuing to place emphasis on knowledge expansion and innovation, the trend of increasing spending on R&D will continue over the forecast period. The increase in R&D translates to expansion of research and testing facilities in sectors like healthcare and chemicals, which will ultimately lead to increased demand for laboratory racks over the forecast period.

Further, the report states that one challenge that could restrict market growth is insufficient scope for innovation. Given the nature of laboratory racks, the scope for innovation or changes is minimal.

Global Laboratory Rack Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key players in the global laboratory rack market: Dynalon Labware, Global Scientific, Heathrow Scientific, Bel-Art Products-SP Scienceware, and Thermo Fisher Scientific.

Other Prominent Vendors in the market are: 3M, Abraxis, Argos Technologies, Bio Plas, CeilBlue, Corning, BioCision, Eppendorf, Glas-Col, Grant Instruments, Jaece, Simport, Troemner, United Scientific Supplies, and Wheaton.

Market driver
- Rising R&D expenditure
- For a full, detailed list, view our report

Market challenge
- Insufficient scope for innovation
- For a full, detailed list, view our report

Market trend
- Increasing level of customization
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 63 pages and 36 Exhibit "Global Laboratory Rack Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Market segmentation by end-user, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-laboratory-rack-market-2016-2020

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