The global liquid handling system market is projected to be worth USD 6,521 million by 2030, growing at a CAGR of 4.20%. This development can be credited to the thriving life sciences sector, the growing occurrence of chronic illnesses, and growing expenditure by businesses for emerging pioneering and effective therapeutic agents.
In the coming few years, the need for automated systems is projected to surge quicker. These variants lessen the requirement for manpower and offer precise dispensing. Furthermore, the growing research and development expenditure by medicine makers and life science businesses and the robust government help for the establishment of improved research centers are playing an important role in the development of the category.
The pipettes category had the largest share, of over 21%, in the liquid handling system market, in 2022, and this trend will be upheld in the future as well. This is mainly because of the surge in the count of pipette calibration service providers and the launch of better pipettes.
In 2022, liquid handling systems are majorly utilized for drug discoveries, which is why the category had a significant share in the market. Over 20,000 medications under development are projected to be introduced shortly. Liquid handling systems account for high importance in every level of the medicine discovery procedure. Furthermore, businesses are concentrating on capacity growth for discovering drugs.
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Liquid handling systems have an extensive range of applications in the life sciences sector. They are utilized in RD activities for medication discovery and development, biopharmaceutical production, toxicity screening, tissue engineering, drug screening, and forensic testing, to name a few.
The active input of government establishments in creating the life sciences industry more planned is the main boosting reason for this market. The allowances provided are utilized for research on health, synthetic biology, climate change, and maintainable bioresource management.
In 2022, North America had the largest share, approximately 36%, because of the growing count of mergers and acquisitions among biotechnology businesses. Furthermore, the rising biotechnology and pharmaceutical businesses are having a positive effect on industry development. Furthermore, businesses are spending in the customer healthcare business to develop effective treatments.
By the end of the decade, the U.S. industry is projected to produce a substantial revenue share, advancing at a CAGR of approximately 4.5%. This can be credited to the existence of a huge count of key healthcare device and medicinal businesses and the surge in the requirement for the appropriate management and steadiness of biotechnical and pharmaceutical production processes.
Hence, the thriving life sciences sector, growing occurrence of chronic illnesses, and growing expenditure by businesses for emerging pioneering and effective therapeutic agents are the major factors contributing to the growth of the market.
