Redding, California, Dec. 14, 2022 (GLOBE NEWSWIRE) -- According to a new market research report, ‘Liquid Handling Systems Market By Type (Automated, Electronic, Manual), Product (Pipette, Consumables, Burette, Software, Microplate), Application (Drug Discovery, Cancer & Genomics, Clinical), End User (Hospital, Diagnostic Lab) - Global Forecast to 2029,' published by Meticulous Research®, the liquid handling systems market is projected to reach $6.99 billion by 2029, at a CAGR of 6.4% from 2022 to 2029.
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A liquid handling system involves any equipment used for transferring liquids in a laboratory from a pipette to the multifunction workstation. Liquid handling is usually required in the laboratory for various applications such as ELISA, nucleic acid preparation, PCR reaction, next-generation sequencing for genomic research, and liquid-liquid extraction. Liquid handling systems are crucial in increasing laboratory procedures requiring high-throughput screening.
Major factors driving the liquid handling systems market are the rapid growth and expansion of the pharmaceutical & biotechnology industry, increasing R&D expenditure of biopharmaceutical companies, rapid adoption of automation in laboratories, and growing demand for high-throughput screening. Furthermore, emerging economies and growing genomics and proteomics research are expected to provide significant growth opportunities for this market.
However, the high costs of automated liquid handling systems are expected to restrain the growth of this market to a notable extent. In addition, factors such as the slow adoption of automation among small & medium-sized laboratories and additional training required by the laboratory personnel for operating automated robotic liquid handling workstations are the major challenges to the growth of this market.
The Impact of COVID-19 on the Liquid Handling Systems Market
The coronavirus disease (COVID-19) outbreak in March 2020 impacted nearly every country around the globe. According to the WHO, as of 17th November 2022, there were 633.2 million confirmed cases and 6.6 million confirmed deaths. During the initial months of the pandemic, there were nationwide lockdowns and restrictions in several countries. This led to a global supply chain disruption and shortages of equipment & consumables. Further, according to the International Monetary Fund, the pandemic shrunk the global economy by about 3.5% in 2020. These factors had a short-term negative impact on the global liquid handling systems market.
However, due to the pandemic, there was an increased demand for COVID-19 testing in laboratories. Large volumes of samples were to be tested, and liquid handling systems were a crucial part of performing these tests. This led to an increased demand for liquid handling systems in clinical diagnostics laboratories. In addition, there was an increased demand for drug discovery and vaccine development. The demand for various types of liquid handling systems in pharmaceutical and biotechnology companies also increased. Thus, the COVID-19 pandemic ultimately had a positive impact on the liquid handling systems market.
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The liquid handling systems market is segmented by Type (Automated Liquid Handling Systems, Electronic Liquid Handling Systems, and Manual Liquid Handling Systems), Product (Pipettes [Semi-Automated Pipettes, Manual Pipettes, and Electronic Pipettes], Consumables, Liquid Handling Workstations, Burettes, Software, Microplate Reagents Dispensers, Microplate Washers, and Other Products), Application (Drug Discovery, Cancer & Genomics Research, Clinical Diagnostics, and Other Applications), End User (Hospitals & Diagnostic Laboratories, Biotechnology & Pharmaceutical Industries, Research & Academic Institutes, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on type, in 2022, the automated liquid handling systems segment is expected to account for the largest share of the liquid handling systems market. The large market share of this segment is attributed to factors such as the increased demand for high-throughput screening, the advantages of automated liquid handling systems, and the increased capabilities of end users to acquire advanced automated liquid handling systems.
Based on product, in 2022, the pipette segment is expected to account for the largest share of the liquid handling systems market. The large market share of this segment is attributed to the basic utility of pipettes in the liquid handling process and its applicability in a wide range of applications such as in sample preparation, serial dilution, and various types of assays.
Based on application, in 2022, the drug discovery segment is expected to account for the largest share of the liquid handling systems market. This segment's large market share is attributed to the high demand for newer personalized drugs for treating a wide range of diseases, increased R&D expenditure, and increased focus on the efficient development of new drugs through molecular screening.
Based on end user, in 2022, the biotechnology & pharmaceutical industries segment is expected to account for the largest share of the liquid handling systems market. The large market share of this segment is attributed to the higher demand for liquid handling systems in the biotechnology & pharmaceutical industry, especially for drug discovery and manufacturing applications, and increased R&D expenditure in biopharma companies.
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Based on geography, in 2022, North America is expected to account for the largest share of the liquid handling systems market, followed by Europe and Asia-Pacific. North America’s large market share is attributed to its robust healthcare and R&D infrastructure, high R&D spending and investments, collaborations with large academic universities and the presence of key players in the region.
The report also includes an extensive assessment of the type, product portfolio, application, end user, and geography, and key strategic developments adopted by leading market participants in the industry over the past years (2020–2022). In recent years, the liquid handling systems market has witnessed numerous product launches & approvals, agreements, collaborations, partnerships, and mergers & acquisitions.
Some of the key players operating in this market study are Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Eppendorf AG (Germany), Hamilton Company (U.S.), PerkinElmer, Inc. (U.S.), Tecan Group Ltd. (Switzerland), PRIMADAG SAS (France), BRAND GMBH + CO KG (Germany), Hudson Robotics (U.S.), SPT Labtech (U.K.), F. Hoffmann-La Roche Ltd. (Switzerland), QIAGEN N.V. (Netherlands), and Mettler-Toledo International, Inc (U.S.).
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Scope of the Report:
Liquid Handling Systems Market, by Type
- Automated Liquid Handling Systems
- Electronic Liquid Handling Systems
- Manual Liquid Handling Systems
Liquid Handling Systems Market, by Product
- Pipettes
- Semi-automated pipettes
- Manual Pipettes
- Electronic Pipettes
- Consumables
- Liquid Handling Workstations
- Burettes
- Software
- Microplate Reagents Dispensers
- Microplate Washers
- Other Products
(Other Products include stackers, flocculation tester, pipetting aid, and laboratory glassware)
Liquid Handling Systems Market, by Application
- Drug Discovery
- Cancer & Genomics Research
- Clinical Diagnostics
- Other Applications
(Other applications include proteomics, bioprocessing in biotechnology, basic research, and microbiology)
Liquid Handling Systems Market, by End User
- Hospitals & Diagnostic Laboratories
- Biotechnology & Pharmaceutical Industries
- Research & Academic Institutes
- Other End users
(Other end users include contract research organizations, forensic laboratories, and government laboratories)
Liquid Handling Systems Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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