Automated Liquid Handling Systems Market Is Estimated To Witness High Growth Owing To Rising Adoption In Drug Discovery And Life Science Research
Market Dynamics:
The growth of the global automated liquid handling systems market is majorly driven by growing adoption of these systems in drug discovery and life science research owing to their advantages such as minimal error rates, reproducibility and ability to handle large sample volumes. Additionally, laboratories are increasingly automating routine tasks which require repetitive liquid manipulation to ensure reduced laboratory operational costs, standardized workflows and mitigate risks of contamination. Furthermore, increasing research funding from pharmaceutical and biotechnology companies as well as government bodies is fueling the demand for automated liquid handling equipment in research laboratories. However, high costs of automated systems and large capital investments may restrain market growth.
SWOT Analysis
Strength: Automated liquid handling systems provide high accuracy and precision for laboratory applications. They offer significant time and cost savings by automating repetitive tasks and eliminating manual errors. The rising adoption of miniaturization and automation in life sciences research and diagnostics augurs well for their demand.
Weakness: High initial costs of automated liquid handling systems pose a major restraint for small laboratories and research institutes. Frequent technological upgradations also increase maintenance costs over the lifespan. The complex programming of protocol parameters requires specialized training.
Opportunity: Growing biotechnology and pharmaceutical industry coupled with increasing R&D expenditure creates opportunities for automated liquid handling system providers. rising demand for higher throughput, miniaturization and modular upgrades also presents new avenues. Expanding geographical reach through strategic partnerships boosts sales potential.
Threats: Availability of refurbished and cheaper used systems poses pricing pressure on new systems. Mid- range and portable systems from local Asian manufacturers capture share in price-sensitive developing markets. Regulatory delays in approval processes hamper revenue growth plans.
Key Takeaways
Global Automated Liquid Handling Systems Market Demand is expected to witness high growth, exhibiting a CAGR of 5.8% over the forecast period, due to increasing demand from biotechnology and pharmaceutical companies for higher throughput and accuracy. The market size is estimated to reach US$ 4.63 Bn by 2023.
Regional analysis
North America dominates the automated liquid handling systems market currently due to concentration of key players, rising biotech industry revenue, and growing R&D expenditure in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rising pharmaceutical industry, increasing investments in diagnostic sectors by regional governments, and rapidly expandingChinese market.
Key players
Key players operating in the automated liquid handling systems market are Agilent Technologies, Bio-Rad Laboratories, Corning Incorporated, Labcyte Inc., and Perkin Elmer Inc. among others. Agilent Technologies dominates the market with broad product portfolio catering to life science, diagnostics and chemical analysis applications. Bio-Rad Laboratories has strong presence in emerging Asian markets while Corning Incorporated is expanding geographically through acquisitions.
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