In 2022, the liquid handling system market was USD 4,692 million, and it is expected to reach a value of USD 6,521 million growing at a rate of 4.20%, by 2030 as told in a report by P&S Intelligence.
This growth is credited to the developing life science industry, increasing investment to develop efficient and innovative therapeutic agents by various companies, and the growing incidence of chronic diseases.
Furthermore, the demand for these products has increased considerably due to the outbreak of the COVID-19. These systems were used in all sorts of laboratory work during the testing of samples for the virus.
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India and China, are offering opportunities to various life science companies and drug manufacturers. For example, Pfizer Inc. set up a research and development center at the Indian Institute of Technology Madras, to enhance pharmaceutical research in India.
Significant demand is expected for automated systems in the near future. These variants offer accurate dispensing and decrease the requirement for manpower.
Pipettes held the largest liquid handling system market share, of over 21%, in 2022, and it will remain like this in the years to come. This is because of the production of advanced pipettes and the increasing number of pipette calibration service providers.
In 2022 liquid handling systems held a major share as these systems are frequently used in drug making. Over 20,000 drugs will be launched in the years to come. These systems are crucial at every stage of the drug development process.
Liquid handling systems are used in research activities for toxicity screening, drug screening, forensic testing, biopharma production, tissue engineering, and drug discovery and development. The key driving factor in the industry is the government’s involvement in making a more organized life science industry.
The growing number of mergers and acquisitions is a key trend in the industry. The reason behind this is to increase product portfolios for the company, geographical expansion, achieving a larger customer base, and the profit share.
North America accounted for the largest share in 2022, at approximately 36%. This is credited to the increasing merger & acquisition between biotechnology companies. Furthermore, to develop effective therapies various companies are investing in the consumer healthcare business.
APAC will grow the fastest, at a rate of over 5.1%, in the years to come, owing to the rising investments in biotechnology.
China held the largest share in 2022, and it will advance significantly in the coming years. This is mainly credited to the number of research and development activities taking place in the life sciences industry.
Due to the developing life science industries, growing investment to develop effective and innovative therapeutic agents by companies, and rising incidence of chronic diseases, the demand for liquid handling system will grow considerably in the coming years.