Hematoxylin Market Size To Reach US$ 2,899.96 Mn By 2025
According to a new market report published by Credence Research Inc., “Hematoxylin Market by Application (Laboratories & Textile), by Type (Alum Hematoxylin, Iron Hematoxylin, Tungsten Hematoxylin & Others)” – Growth, Future Prospects, Competitive Analysis and Forecast, 2017 – 2025”, the worldwide hematoxylin market was valued at US$ 1,532.64 Mn in 2016.
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Hematoxylin market is projected to witness high growth owing to rising demand from end use application. It is widely use as dye in histological studies and textiles application. Furthermore, aging global population, growing number of diseases and standardization of pathological laboratories are the factors anticipated to drive the investment in research and development with the concentration to cure the critical diseases such as cancer, etc. Increasing research and development in biomedical is fueling the demand for dyes such as hematoxylin.
However, volatile raw material prices & increasing use of substitutes are the factors hampering the market growth. China, Japan and India are expected to be the most attractive markets for hematoxylin, offering high growth potential. Besides this, Asia Pacific offers low cost of manufacturing, which can provide competitive advantage to the hematoxylin.
The global market for hematoxylin is highly competitive and fragmented due to presence of various players. To gain competitive advantage, players should provide better services to buyers. Market players are involved in adopting various strategies such as geographical expansion, mergers, acquisitions, and R & D (Research & Development) in order to develop their business and survive in the long run. Some of the prominent players present in this market are Abbey Color, Sigma-Aldrich, Thermo Fisher Scientific, Inc., American MasterTech Scientific Incorporated, Cardinal Health, Inc. and Molychem among others.
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- Asia Pacific offers huge untapped market potential
- Rising demand from end use application
- Growing prevalence of various disease along with rising demand for personalized medicine is projected to propel the demand for hematoxylin over the forecast period
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