Wednesday, June 8th, 2016 includes Global Laboratory Rack Market 2016-2020 a new research reports in its store. The analysts forecast global laboratory rack market to grow at a CAGR of 4.3% during the period 2016-2020.

Complete laboratory rack market report is available at .

A key trend which is helping boost market growth is increased customization. The choice of the type and size of the racks is largely based on the application and the process. With a broad range of laboratory racks to choose from, based on material, size, function, design, and flexibility, end-users have the freedom to choose what best suits their application. For specialized end-users, manufacturers have also begun designing and producing customized racks to meet specific customer requirements.

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.

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The report, 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.

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.

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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.

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.

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.

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