The liquid handling systems market is expected to reach USD 5.522 billion by 2027 from USD 3.304 billion in 2020, at a CAGR of 7.2 % during the forecast period. Growing R&D and clinical trials by pharmaceutical companies as well as biotechnology industry will foster the market growth over the projection years. Clinical trials and drug discovery have increased incredibly over the past few years due to growing number of serious diseases. Also, increased drug development will bring new compound with proven therapeutic effect to the market; requiring extensive use of liquid handling systems, thereby boosting the market growth.
Increasing application of various laboratory processes such as serial dilution, PCR, array printing, plate replication, cell culture and whole genome amplification is also driving the liquid handling systems industry growth. Growing awareness about early disease diagnosis and prevention has stimulated demand for these laboratory processes for detection of cancer and infectious diseases at an early stage. Therefore, introduction of manual as well as automated liquid systems in laboratories is augmenting the industry expansion.
The liquid handling devices market is anticipated to grow moderately as such equipment delivers precise control for sample and reagent volume transfers, ensuring reproducible results, while making work in the laboratory much easier. Furthermore, automated systems are resulting in reliable and consistent processes and let goes off from any tedious pipetting, hence allowing individuals to focus on other significant laboratory tasks.
Manufacturers are engaged in the development of products to support variable customer needs concerning sample volume and application. For example, the launch of 96 and 384 channel automated and semi-automated liquid dispensing systems coupled with a broad range of consumables and accessories.
Market players have designed and developed platforms based on different technologies to improve the efficiency of liquid handling in complicated and sensitive processes. For instance, an introduction of Echo Liquid Handler by Labcyte, Inc. for contactless sample transfer using acoustics is a remarkable advancement in the market. This product reduces the risk of contamination which usually occurs due to disposable tips in conventional systems.
Agilent Technologies, Danaher Corporation, Thermo Fisher Scientific, Inc., Eppendorf AG, Tecan Group Ltd., Bio-Rad Laboratories, Corning Incorporated, Sartorius AG, Hamilton Company, Mettler-Toledo International Inc., and Perkinelmer, Inc. are some of the key players in the global liquid handling system market.
Europe is expected to hold the second-largest position in the global liquid handling system market. The market growth in this region is attributed to the growing R&D activities and growing biopharmaceutical sector. According to the Office for National Statistics, gross domestic expenditure on R&D was Euro 33.1 billion (USD 35.2 billion) in the year 2016.
The liquid handling system market in the Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be the fastest-growing region owing to the improving scenario of life science-related research, developing the healthcare sector, and growing government investments in the biotechnology and pharmaceutical sector.
The Middle East & Africa has the least share of the global liquid handling system market. The majority of the market of this region is expected to be held by the Middle East region due to the growing government initiatives for the healthcare segment which thereby provides a favourable scenario for the growth of the pharmaceutical and biotechnological sector in the region.
Report : Liquid handling systems Market - By Type (Electronic, Automated, Manual) By Products (Pipettes, Electronic, Consumables, Reagent containers, Other products) By Application (Drug discovery, Compound weighing and dissolution, Genomics, Other drug) - Industry Analysis, Opportunity and Forecast 2020 To 2027