According to a report by Grand View Research, Inc., global liquid handling technology market is anticipated to value USD 6.99 billion by 2025. Growing requirement for precision and acceleration in laboratory workflow coupled with rising investment in drug discovery can surge demand for liquid handling technology. The technology is likely to reduce operational cost by avoiding excess use of expensive reagents during research and development activities.
High demand for effective miniaturization of workflow processes is anticipated to fuel demand for high –throughput liquid handling technology. This, in turn can augment growth of market. In addition, rising trend for adopting robotics and automation in clinical trials and drug discovery can stimulate growth of market over next few years. Moreover, increasing salary of highly skilled professionals is anticipated to surge demand for advanced technology in clinical research and drug discovery. This, in turn, can spur growth of market during the forecast period (2014 to 2025).
Full Research Report On Liquid Handling Technology Market Analysis:
The liquid handling technology market can be segregated on the basis of product, type, application, end-user, and region. Based on product, the market can be categorized into small devices, automated workstations, consumables.
Based on type, the market can be classified into manual liquid handling, automated liquid handling, and semi-automated liquid handling. Automated liquid handling segment is expected to witness significant growth owing to high demand for cutting-edge technology. Introduction of innovations such as CRISPR and next generation sequencing (NGS) can fuel demand for automation.
Similarly, growing need for human skills and customization in high-throughput experimentation can surge demand for manual liquid handling technology.
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Based on application, the market can be segmented into cancer & genomic research, drug discovery & ADME-Tox research, bioprocessing, and others. Drug discovery & ADME-Tox research is expected to contribute well for growth of market during the forecast period. Growing adoption of microarray technology in combination with liquid handling technology to simply screening and testing of drugs can influence market growth. Rising need to assay multiple samples in different volumes and environments is expected to surge demand for these advanced technologies.
On the contrary, cancer & genomic research segmented is estimated to fuel use of liquid handling technology. Continual innovations in biotechnology such as NSG and CRISPR-Cas9 is likely to accelerate pace of genomic research. This, in turn, is expected to encourage investments in new research including mutation-based disease treatment and disease mechanism studies. In addition, increasing financial support from public and private entities for regenerative medicine and oncology research can fuel adoption of liquid handling technology during the forecast period.
Based on end-user, the market can be divided into pharmaceutical & biotechnological companies, academic & research institutes, and contract research organizations. Pharmaceutical & biotechnological companies are expected to contribute well for market growth owing to rising number of clinical trials coupled with growing adoption of outsourcing services. In addition, increasing number of contract research organizations (CROs) adopting liquid handling technology to meet outsourcing requirement of these players is likely to contribute to revenue generation.
Similarly, academic & research institutes are likely to contribute to growth of market owing to rising government investments in infrastructural development of these institutes. In addition, collaborations between major market players and universities equipped with established research facilities can augment market growth.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the market and accounted for largest market share. Growing adoption of advanced instrumentation technology in research can fuel growth of market. In addition, high prevalence of major players in the region collaborating with well-established universities and research centers in Europe to expand their distribution channel can influence market growth.
Hence, in Europe, the market is expected to witness significant growth owing to huge customer base in the form of academic and research institutes in the region.
On the contrary, Asia Pacific is likely to grow well over the forecast period attributed to effective developments registered by emerging countries in biotechnology, pharmaceutical, and academic sectors can fuel market growth. In addition, growing investments in life science sectors including drug development, clinical diagnostics, microbiology, and omics research by China and Japan can fuel market growth in the region.
Some of the leading companies offering liquid handling technology are Agilent Technologies, Bio-Rad Laboratories, Borosil Glass Works Ltd., Corning Incorporated, and Hudson Robotics.
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