Liquid Handling Systems Market Size By Type (Manual, Automated), By Product (Pipettes, Dispensers, Burettes, Automated Workstation, Consumables), By End Use (Pharmaceutical & Biotechnology Industry, Diagnostic Centers, Research Institutes, Academic Institutes), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa), Application Potential, Competitive Market Share & Forecast, 2018 - 2024
Liquid Handling Systems Market will exceed USD 2.0 billion by 2024; as per a new research report.
Increase in number of research laboratory applications such as PCR, ELISA, plate replication, plate reformatting, array printing, and serial dilution will augment the liquid handling systems market growth over the forecast period. Furthermore, growing number of infectious as well as lifestyle-related diseases such as HIV, heart diseases and diabetes worldwide is increasing the demand for accurate disease diagnosis, that will in turn increase the application of liquid handling systems.
Vaccine production has also increased tremendously owing to growing human health significance that is a major concern worldwide because of prevailing infectious diseases. With growing vaccine production, the provision of promising technologies related to liquid handling is expected to increase during the projected years, thereby boosting the global liquid handling systems market growth.
Manual liquid handling systems captured the maximum share in the global market valued at around USD 844.9 million in 2017. Manual liquid handling equipment are widely available at lesser cost, thereby increasing its application and fostering the segment’s growth. However, automatic liquid handling systems are expected to grow swiftly during the forecast period due to enhanced sampling, mixing, and combining of liquid samples that are done automatically, hence reducing time and effort.
Based on product, automated workstation market segment is forecasted to grow rapidly at a CAGR of 6.0% during the projected years. Automated workstation have better flexibility, better customization options, and improved productivity, that will increase it application in the long run, hence expanding the growth of the segment. The automated workstation segment is followed by pipette segment in terms of growth. Various medical devices manufacturers are focusing on developing pipettes that are technological advanced, safe and ergonomically designed to suit the requirements of clinical and research laboratories, which will consequently drive the market growth.
Pharmaceutical & biotechnology industry market segment was valued at USD 635.5 million in 2017. Presence of various pharmaceutical firms globally and growing demand for drug discovery and vaccine production is propelling the market growth. Moreover, increasing incidence of infectious diseases which require accurate diagnosis will also boost the pharmaceutical & biotechnology industry growth in liquid handling systems market.
China liquid handling systems market is anticipated to grow at a lucrative CAGR of 7.1% in the forecast period. China is one of the most technologically advanced country, with the biotech industry depicted as one of the 10 significant sectors in Beijing’s latest five-year plan. Furthermore, substantial financial backing from both the private and public sectors, and regulations that are becoming globally harmonized is majorly contributing in the healthcare industry of the region, hence driving the demand for liquid handling systems over the projection years.
Some of the notable industry players are Gilson Incorporated, Tecan, Hamilton Co., Eppendorf AG, Thermo Fisher Scientific, Inc., Sartorius, among others. Companies are now strategizing to launch technologically advanced and automated systems that will not only increase its product portfolio, but also thrive the sales. Furthermore, innovative strategies such as mergers, collaborations, acquisition and partnerships are expected to be carried out in order to expand their product portfolio and geographic reach.