Liquid Handling Technology Market
Number of pages: 100 | Report Format: PDF | Published date: February 21, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 4.7 billion |
|
Revenue Forecast in 2030 |
US$ 7.16 billion |
|
CAGR |
4.8% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Product, Application, Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global liquid handling technology market was valued at US$ 4.7 billion in 2021 and is expected to register a revenue CAGR of 4.8% to reach US$ 7.16 billion by 2030.
Liquid Handling Technology Market Fundamentals
Liquid handling includes the transfer of liquid reagents using a variety of devices, from portable single-channel pipettes to massive robotic platforms. These tools are essential for providing accurate measurements and are utilized in everything from research to therapeutic applications. This apparatus decreases or completely eliminates contamination, evens out sample yield, and prepares consistent amounts. Various procedures, such as RNA/DNA purification, ELISA, cell culture, PCR/sequencing reaction setup, automated detection assays, reaction cleanup, protein purification, and MALDI-TOF spotting, involve liquid handling.
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Liquid Handling Technology Market Dynamics
The rise in the demand for novel drugs for the treatment of rare diseases is the major driving factor of the liquid handling technology market. Moreover, rise in investments by biotech and pharma companies in R&D and the increase in the number of clinical trials are playing a significant role in the revenue growth of the liquid handling technology market. Liquid handling technology has a high adoption rate among drug development organizations due to its capacity to shorten sample processing turnaround times. Similarly, the growing usage of procedures, such as RNA/DNA purification, ELISA, cell culture, and PCR, is fueling the demand for liquid handling technology. Additionally, the adoption of advanced technologies in liquid handling technology is improving accuracy and minimizing errors, fueling revenue growth in the liquid handling technology market. Furthermore, the less space required and cost-effective use of consumables are advantages of the usage of liquid handling technology.
However, the lack of skilled professionals using the technology and the possibilities of errors in fully automated instruments are the major restricting factors for the liquid handling technology market. Moreover, the high cost associated with liquid handling technology is hindering the revenue growth of the market.
Liquid Handling Technology Market Ecosystem
The global liquid handling technology market has been analyzed from five perspectives: product, application, type, end user, and region.
Liquid Handling Technology Market by Product
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Based on product, the global liquid handling technology market is segmented into automated workstations, small devices, and consumables.
The small devices segment dominated the liquid handling technology market with the largest revenue share in 2021. The small devices segment is further sub-segmented into pipettes, burettes, dispensers, and others. The pipettes sub-segment accounts for the largest revenue share. This sub-segment is further divided into electronic pipettes, manual pipettes, and pipette controllers. The revenue growth of the segment is attributed to the wide range of applications of pipettes. Moreover, pipettes provide high accuracy and precision in liquid handling instruments. Similarly, pipettes are efficient and reduce the time required to load samples.
Liquid Handling Technology Market by Application
Based on application, the global liquid handling technology market is segmented into drug discovery, cancer & genomic research, bioprocessing/biotechnology, and others.
The drug discovery segment accounted for a significant revenue share of the liquid handling technology market in 2021. The rise in the demand for novel treatments for rare diseases is propelling the revenue growth of the segment. Additionally, the growing adoption of precision medicine, which is based on the genetic profile of the patients, is fueling the usage of liquid handling technology in drug development. While major pharmaceutical companies are investing in drug development, they are increasing the demand for cost-effective and accurate instruments, thus boosting the sales of liquid handling instruments.
Liquid Handling Technology Market by Type
Based on type, the global liquid handling technology market is segmented into automated liquid handling, manual liquid handling, and semi-automated liquid handling.
The automated liquid handling segment accounted for the largest revenue share of the liquid handling technology market in 2021. Automated liquid handling systems help to increase workflow accuracy and speed up the pipetting and dispensing operation for various liquid types and quantities, thus boosting segment revenue growth. Moreover, these systems reduce the possibilities of cross-contamination that can take place during manual pipetting. Automated liquid handling increases the throughput time, which aids in handling batches with many samples, thus, propelling segment revenue growth.
Liquid Handling Technology Market by End User
Based on end user, the global liquid handling technology market is segmented into pharmaceutical & biotechnology companies, contract manufacturing organizations, academic & research institutes, and others.
The academic & research institutes segment dominated the market for liquid handling technology with a prominent revenue share in 2021. The growing usage of liquid handling technology in research institutes is playing a major role in segment revenue growth. There are a large number of PCR and microarray research carried out in academic and research institutes, which is increasing the demand for liquid handling technology.
Liquid Handling Technology Market by Region
Based on region, the global liquid handling technology market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global liquid handling technology market in 2021, followed by Europe and Asia Pacific. The large revenue share of North America can be attributed to the well-developed biopharma industry in the region with the presence of the major market players. Similarly, rise in the number of clinical trials in process is boosting the regional market revenue growth. Furthermore, many biopharmaceutical companies in the region are collaborating with research institutes to develop novel drugs, thus boosting the North America market revenue growth.
Liquid Handling Technology Market Competitive Landscape
The prominent players operating in the liquid handling technology market are:
Liquid Handling Technology Market Strategic Developments
The global liquid handling technology market is expected to be valued at US$ 7.16 billion by 2030.
The rise in the demand for novel drugs for rare diseases and the rise in R&D activities are the major factors driving the global market. Moreover, a wide range of advantages provided by liquid handling technology and the rise in the usage of RNA/DNA purification, ELISA, cell culture, and PCR are boosting market revenue growth.
Hamilton Co., Gilson Incorporated, Danaher Corporation, Thermo Fisher Scientific, Inc., and Tecan Group Ltd. are among the top market players.
Geographically, North America accounted for the largest revenue share of the market, followed by Europe. Moreover, Asia Pacific is the fastest-growing regional market for liquid handling technology.
The drug discovery segment accounts for the largest revenue share of the global market.
*Insights on financial performance are subject to the availability of information in the public domain