Laboratory Storage Bin Market Report 2024 (Global Edition)

Global Laboratory Storage Bin Market Report 2024 Market Size Split by Type Outlook: (Laboratory Use, Storage Use), by Application Outlook: (PVC, PETG), by Sales Channel (Direct, Indirect)

Laboratory Storage Bin Market Report Description

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Competitive Landscape of the Laboratory Storage Bin Market

The competitive landscape of the Laboratory Storage Bin market is characterized by a range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established manufacturers, specialized Laboratory Storage Bin companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

Top Companies Market Share in Laboratory Storage Bin Industry: (In no particular order of Rank)

• Myers Industries (Akro-Mils)
• Poltex
• Heathrow Scientific
• CP Lab Safety
• Thermo Fisher Scientific
• RPI
• UNIVERSITY MEDICAL
• TrippNT
• Therapak
• SP Bel-Art
• Corning
• Crystalgen
• Duran Group
• Haikelasi
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Laboratory Storage Bin Market

Which Region Dominates the Laboratory Storage Bin Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. North America, particularly the United States and Canada, stands as a global leader in pharmaceutical and biotechnology research and development (R&D). According to the 2021 PMPRB Annual Report, from 2012 to 2021, the total value of pharmaceutical sales in Canada, including non-patented and over-the-counter medicines, surged by 56.4% to $34.1 billion. The distribution of medicine sales is diverse, with 56.8% managed by consolidated distributors, 35.5% through self-distributing pharmacy chains, and 7.7% directly to pharmacies. Despite this growth, total R&D expenditures by Canadian pharmaceutical companies selling patented medicines decreased by 1% from 2012 to 2021, amounting to $922.9 million. Furthermore, Research Infosource notes that thirty-one pharmaceutical and biotechnology companies were listed among the Top 100 Corporate R&D Spenders in Canada for 2021. This region's companies invest significantly in R&D to innovate and develop new drugs, vaccines, and biotechnological advancements.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Laboratory Storage Bin market due to a notable increase in the number of hospitals, diagnostic centers, and clinical laboratories, driven by growing healthcare demands and government initiatives aimed at enhancing healthcare access. According to IBEF, India's hospital market was valued at $98.98 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2032, reaching an estimated value of $193.59 billion by 2032. Investments in sectors such as hospitals and diagnostic centers, as well as medical and surgical appliances, amounted to $10.26 billion and $3.28 billion, respectively, between April 2000 and March 2024. Additionally, in the Interim Union Budget 2024-25, the government allocated Rs. 90,659 crore (approximately $10.93 billion) to the Ministry of Health and Family Welfare (MoHFW)

The current report Scope analyzes Laboratory Storage Bin Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!

North America Laboratory Storage Bin

According to Cognitive Market Research, the global Laboratory Storage Bin market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Laboratory Storage Bin market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. The nation's Extensive Laboratory Network, driving the market.
• The Canada Laboratory Storage Bin market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Canada's Advancements in pharmaceutical and biotechnological research, driving the market.
• The Mexico Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD XX million in 2024.

Europe Laboratory Storage Bin

According to Cognitive Market Research, the global Laboratory Storage Bin market size was estimated at USD XX Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Laboratory Storage Bin market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In the UK, Laboratory Storage Bin sales witness an upswing due to the nation's expansion of healthcare facilities, including hospitals and diagnostic centers.
• The France Laboratory Storage Bin market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the German Laboratory Storage Bin market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. In Germany, Laboratory Storage Bin surged due to the focus on improving healthcare infrastructure and regulatory compliance standards.
• The Italy Laboratory Storage Bin market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD XX million in 2024.
• The Russia Laboratory Storage Bin market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD XX million in 2024.
• The Spain Laboratory Storage Bin market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD XX million in 2024
• The Luxembourg Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD XX million in 2024.
• The Portugal Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD XX million in 2024.
• The Greece Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD XX million in 2024.
• Rest of Europe's Laboratory Storage Bin market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD XX million in 2024.

Asia Pacific Laboratory Storage Bin

According to Cognitive Market Research, the global Laboratory Storage Bin market size was estimated at USD XX Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Laboratory Storage Bin market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Laboratory Storage Bins surged in China due to the significant investments in biotechnology and pharmaceutical research, supported by substantial government funding and a rapidly growing bio-economy.
• The Japan Laboratory Storage Bin market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD XX million in 2024.
• The India Laboratory Storage Bin market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. India's substantial investments in drug development, healthcare infrastructure, and research activities, driving the market.
• The South Korean Laboratory Storage Bin market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD XX million in 2024.
• The Australian Laboratory Storage Bin market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia Laboratory Storage Bin market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific Laboratory Storage Bin market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD XX million in 2024.

South America Laboratory Storage Bin

According to Cognitive Market Research, the global Laboratory Storage Bin market size was estimated at USD XX Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Laboratory Storage Bin market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Laboratory Storage Bins flourished in Brazil due to the rise in chronic and infectious disease cases, along with substantial investments in healthcare and research.
• Argentina's Laboratory Storage Bin market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Argentina's growth in medical and scientific research facilities augments the demand.
• Colombia Laboratory Storage Bin market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD XX million in 2024.
• Peru Laboratory Storage Bin market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD XX million in 2024.
• Chile Laboratory Storage Bin market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Latin America's Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD XX million in 2024.

Middle East and Africa Laboratory Storage Bin

According to Cognitive Market Research, the global Laboratory Storage Bin market size was estimated at USD XX Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..

• The GCC Countries Laboratory Storage Bin market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD XX million in 2024. Laboratory Storage Bin sales flourish due to the rise in the number of diagnostic labs, and substantial growth in medical research activities.
• The Egypt Laboratory Storage Bin market is projected to witness growth at a CAGR of 6.00% during the forecast period, with a market size of USD XX million in 2024.
• The South Africa Laboratory Storage Bin market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD XX million in 2024. Laboratory Storage Bin sales flourish in South Africa due to the expansion of healthcare facilities aimed at improving public health outcomes.
• The Turkey Laboratory Storage Bin market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD XX million in 2024.
• The Nigeria Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of the MEA Laboratory Storage Bin market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD XX million in 2024.

Laboratory Storage Bin Market Analysis

How are Segments Performing in the Global Laboratory Storage Bin Market?

Laboratory Storage Bin Market Type Segment Analysis

According to Cognitive Market Research, Laboratory Use stands out as the dominant category over the projected period as Laboratories require efficient storage solutions to manage a diverse range of materials, including chemicals, biological samples, reagents, and lab equipment. Proper organization helps streamline laboratory workflows and improve operational efficiency. Well-designed storage bins facilitate easy access to frequently used materials, reducing time spent searching for items and increasing overall productivity in the lab..

Storage Use emerges as the fastest-growing category in the Laboratory Storage Bin market. Laboratories are focusing on optimizing their space to accommodate a growing number of samples, reagents, and equipment. Storage bins designed for specific storage needs help in maximizing space efficiency and organization. Proper storage solutions reduce clutter and help maintain an orderly workspace, which is crucial for maintaining an efficient laboratory environment.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Laboratory Storage Bin Industry. Request a Free Sample PDF!

Laboratory Storage Bin Market Application Segment Analysis

According to Cognitive Market Research, the dominant category is PVC as PVC is highly resistant to a wide range of chemicals, making it ideal for storing various reagents, solvents, and laboratory chemicals. This chemical resistance ensures that PVC bins do not degrade or react with stored materials. PVC has strong impact resistance, which enhances the durability of storage bins and reduces the risk of damage from accidental drops or bumps. This robustness is crucial for maintaining the integrity of stored items.

The fastest-growing category in the Laboratory Storage Bin market is PETG sports as PETG demonstrates strong resistance to a wide range of chemicals, including acids, bases, and solvents. This characteristic ensures that PETG storage bins can safely hold various laboratory chemicals and reagents without degrading or reacting with the stored substances. PETG's chemical resistance helps maintain the integrity of both the bin and its contents, preventing potential contamination or damage to valuable samples and chemicals..

The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Laboratory Storage Bin market report 2024 Edition by contacting our team.

Laboratory Storage Bin Sales Channel Segment Analysis

 Laboratory Storage Bin Market Sales Channel Segment Analysis 

According to Cognitive Market Research, the dominant category is the Direct sales channel as Direct sales channels allow manufacturers and suppliers to engage directly with customers, enabling them to offer tailored storage solutions that meet specific laboratory requirements. This personalized approach helps in addressing unique needs more effectively. Direct sales enable manufacturers to work closely with customers to create customized storage bins that align with their exact specifications. This flexibility is especially valuable for laboratories with unique storage needs..

The fastest-growing category in the Laboratory Storage Bin market is the Indirect sales channel. Indirect sales channels, including distributors, wholesalers, and retailers, have established networks that enable manufacturers to reach a larger and more diverse customer base. This broad distribution network helps expand market reach beyond what direct sales alone could achieve. Indirect sales partners often have deep knowledge of local markets, customer preferences, and industry trends. This expertise allows them to effectively position and sell laboratory storage bins to various customer segments.

• Direct
• Indirect

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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