Experiments play a major role in various types of inventions since a number of path breaking discoveries and inventions have been possible through experiments conducted in laboratories. In order to conduct tests and researches, the laboratories require a wide range of chemical lab equipment and instruments. While performing any sort of experiment we come across a various types of
chemical lab equipment and one of the most important types of these is the chemistry glassware.
It is highly crucial to make proper use of laboratory equipment in order to avoid any disaster while working with hazardous chemicals and the two very important parts of this activity include the maintenance and regular inspection of laboratory equipment. Unfortunately, most of the accidents that take place in the laboratories can be accredited to improper use and maintenance of laboratory equipment.
While the most common equipment related hazards in laboratories occur due to devices that are powered by electricity devices that work with compressed gases and devices for high or low pressure and temperatures,
electromagnetic radiation from lasers and radio-frequency generating devices are the other physical hazards that occur in the laboratories.
The laboratory equipment service market is anticipated to reach USD 17.7 billion by 2024. Major factors driving the growth in the laboratory equipment service market is owing to rise in number of research activities both in pharmaceutical and biotechnology industries. Not just that, the surge in demand for the effective and timely diagnosis of diseases and the increasing investments are the other factors driving this market growth. Based on the end-users, the biomedical equipment services market is classified into pharmaceutical and biotechnology companies, diagnostic laboratories and others such as academic and research institutions.
Specialty chemicals sector - one of the most resilient segments
The specialty chemicals enterprises in India are drawing the attention of private equity (PE) investors due to the sturdy growth of the industry over the last decade. Moreover, the Indian chemicals businesses are finding favor with companies across the globe looking to de-risk their supply chains from China. In the last 10 days, 2 PE investors have signed deals in the specialty chemicals space.
“The specialty chemicals sector has been one of the most resilient segments within the manufacturing industry in India over the last six months. Certain pockets within Indian specialty chemicals are expected to benefit significantly from the increased implementation of “China, plus one” procurement strategies in a post-covid world,” said Koushik Bhattacharya, Director and Head, Industrials, at Investment Banking firm, Avendus Capital.
“In the current environment, PE funds are actively looking for opportunities to invest in market leaders in insulated and high growth sectors and specialty chemicals sector is one of the few sectors that ticks all the boxes for them,” he added.
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