A recent report published by Infinium Global Research on the liquid handling system market provides an in-depth analysis of segments and sub-segments in the global as well as regional liquid handling system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional liquid handling system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global liquid handling system market. According to the report, the global liquid handling system market is projected to grow at a CAGR of 6.90% over the forecast period of 2021-2027.
Liquid handling system market was valued at USD 3.3 billion in 2021 and expected to reach USD 4.9 billion in 2027, with a CAGR of 6.90% during the forecast period. The relevance of liquid handling procedures can hardly be overestimated as a major part of daily lab operations for testing, research or production relies on liquid-based techniques. An automated liquid handling system helps in reducing processing time, decreasing sample contamination, and increasing accuracy in bioassays. Robotic arms allocate accurate measurements of liquids to vessels, such as microtiter plates, and change out plates or tubes, thus streamlining workflow. Liquid handling systems release researchers from long, repetitive, laborious tasks, and free up time for other assays, lab reports, and other lab duties.
Increased investment in drug development is the key driving factor for the global liquid handling system market. Private spending on pharmaceutical R&D and the approval of new drugs have both increased markedly in recent years. In particular, spending on drug R&D augmented by nearly 50% between 2015 and 2019. Growing funding for drug and biotechnology research activities is fueling the demand for the liquid handling system market. Basic discovery research is funded largely by the government and by philanthropic organizations. The late-stage development is funded mainly by pharmaceutical companies or venture capitalists. Furthermore, technological advancements in liquid handling systems are boosting the market growth. However, the cost associated with the liquid handling system restraining the liquid handling system market. Acquiring a liquid-handling workstation requires a significant investment. Liquid handling systems with more flexibility, accuracy, and generally better features come at a higher price. Moreover, growing research activities in genomics and proteomics are providing growth opportunities to the market. The global COVID-19 pandemic is posing unprecedented challenges for laboratories. The demand for liquid handling systems in these laboratories has increased tremendously during the pandemic period. These laboratories are working to meet the demand for correct, large-scale testing in a short amount of time, and without the risk of cross-contamination. Lab directors had to respond immediately and make decisions quickly to speed up the development of new PCR liquid handling workflows to deal with increased demand.
Among the regions, North America is dominating the global liquid handling system market followed by Europe. The presence of original equipment manufacturers, advanced technology, large numbers, and a strong customer base is the major factors responsible for the growth of the North America region. Asia-Pacific region is expected to be the fastest-growing region on account of developing healthcare infrastructure, increased spending on healthcare in developing countries like India, China, and other southeast Asian countries.
The report on global liquid handling system market covers segments such as type, product, application, and end user. On the basis of type, the sub-markets include electronic, automated, and manual. On the basis of product, the sub-markets include pipette, consumables, workstation, and other products. On the basis of application, the sub-markets include drug discovery, genomics, clinical diagnostics, and other applications. On the basis of end user, the sub-markets include biotechnology and pharmaceutical industries, research institutes, and other end users.
The report provides profiles of the companies in the market such as Thermo Fisher Scientific Inc., Agilent Technologies, Danaher Corporation, Eppendorf AG, Mettler-Toledo International Inc., Tecan Group Ltd., Sartorius AG, Hamilton Company, Corning Incorporated, and Perkinelmer, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of0. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.