New report published by The Insight Partners which offers insights on the Global Liquid Handling Technology Market
PUNE, MAHARASTRA, INDIA, December 1, 2019 /EINPresswire.com/ — According to a new market research study titled ‘Liquid Handling Technology Market to 2027 – Global Analysis and Forecasts by Product, Type, Application, End-User and Geography. The global liquid handling technology market is expected to reach US$ 5,705.63 Mn in 2027 from US$ 3,201.36 Mn in 2018. The market is estimated to grow with a CAGR of 6.7% from 2019-2027. The report highlights the trends prevalent in the global liquid handling technology market and the factors driving the market along with those that act as challenges to its growth.
The market for liquid handling technology is expected to grow significantly due to factors such as increasing drug discovery activities, growing biopharmaceutical industry, and rising research and development expenses. Whereas, the market is expected to have slow growth due to the scarcity of skilled professionals during the forecast period.
Liquid Handling Technology Market to 2027 – Global Analysis and Forecasts by Product (Automated Workstations, Small Devices, Consumables); Type (Automated Liquid Handling, Manual Liquid Handling, Semi-Automated Liquid Handling); Application (Drug Discovery and ADME-Tox Research, Cancer and Genomic Research, Bioprocessing/Biotechnology); End User (Pharmaceutical and Biotechnology Companies, Contract Research Organization (CRO), Academic and Research Institutes); and Geography
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The global liquid handling technology market was segmented by product, type, application, and end-user. The market based on product segment is classified as automated workstations, small devices, consumables. On the basis of type, the market is classified as automated liquid handling, manual liquid handling, semi-automated liquid handling. Based on the application segment market is divided into drug discovery & ADME-Tox Research, cancer and genomic research, bioprocessing/biotechnology. Based on end-user the market is categorized as pharmaceutical and biotechnology companies, contract research organizations, academic and research institutes.
In the past few years, the biopharmaceutical industry has experienced exponential growth and is growing in the developing region at an extraordinary pace. The North American region owe highly advanced techniques that enable it to offers more of the biotechnology products in the market. Regions such as Europe and the Asia Pacific have speeded up their investments and interest in the field of biotechnology, whereas regions such as South and Central America and the Middle East are developing their biotechnology industry significantly.
Developed regions are consolidated with various market leaders and are experiencing a rising number of start-up biotechnology companies. The developing regions are collaborating with various market leaders and government entities to expand research and development activities in the biotechnology sector. For instance, North American and European biotechnology sectors are heading towards the Asia Pacific region due to increased clinical activities. Since 2016, in the Asia Pacific, there are has been an increase in clinical activities from the biotech companies approximately by 26%.
Thus, owing to the rise in biotechnology sector, increasing initiatives and growing clinical activities in the biotechnology industry are likely to increase the growth of the liquid handling technology market during the forecast period.
The major players operating in the liquid handling technology market include Agilent Technologies, Inc., Aurora Biomed Inc., AutoGen, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Analytik Jena AG (Endress+Hauser Management AG), Corning Incorporated, Eppendorf, Formulatrix, Inc., and Gilson Incorporated among others. The market has carried out various organic growth strategies in the market. The organic strategies were conducted majorly and the strategies have assisted in strengthening their product offering and position in the global liquid handling technology market.
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Source: EIN Presswire