PORTLAND, Ore., Oct. 13, 2020
- Technological advancements associated with ALH systems, availability of improved and error-free ALH systems, and dearth of skilled professionals are the major factors that propel the growth of global automated liquid handling market.
PORTLAND, Ore., Oct. 13, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Automated Liquid Handling Market By Type (Standalone, Individual Benchtop Workstation, Multi-Instrument System, and Others), Modality (Fixed Tips and Disposable Tips), Procedure (PCR-Set-Up, Serial Dilution, High-Throughput Screening, Cell Culture, Whole Genome Amplification, Plate Reformatting, Array Printing, and Other Procedures), End User (Biotechnology & Pharmaceutical Companies, Contract Research Organizations, and Academic & Government Research institutes): Global Opportunity Analysis and Industry Forecast, 2020–2027" According to the report published by Allied Market Research, the global automated liquid handling market garnered $763 million in 2019, and is projected to reach $1.48 billion by 2027, registering a CAGR of 8.5% from 2020 to 2027.
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Prime determinants of the market-
Technological advancements associated with ALH systems, availability of improved and error-free ALH systems, and dearth of skilled professionals are the major factors that propel the growth of the global automated liquid handling market. Furthermore, increase in number of R&D activities fuel the market growth. Nevertheless, laboratory budget constraints affect procurement of ALH systems and complex operability of latest liquid handling systems curtail down the market growth. However, untapped potential of emerging markets and development of miniaturized ALH systems are anticipated to usher new opportunities in the near future.
The standalone segment is anticipated to dominate the market by 2027-
Based on product type, the standalone segment contributed to the largest market share in 2019, accounting for more than two-fifths of the global automated liquid handling market, and is projected to maintain its lead status during the forecast period. This is attributed to lower cost and higher usage among different research and clinical settings. However, the multi instrument segment is estimated to manifest the highest CAGR of 10.3% from 2020 to 2027. This is owing rise in adoption of technologically advanced multi-instrument ALH.
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The biotechnology and pharmaceutical companies segment held the lion's share in 2019-
Based on industry vertical, the biotechnology and pharmaceutical companies segment accounted for the highest market share, contributing to more than half of the global automated liquid handling market in 2019, and is expected to maintain its dominant share by 2027. Increase in the use and application of ALH systems to carry out high throughput screening in the biotechnology and pharmaceutical industry is expected to boost the growth of the segment. However, the academic and government research Institutes and retail segment is anticipated to grow at the highest CAGR of 10.1% during the forecast period. Different research laboratories globally are focused on adoption of ALH systems to reduce manual effort in pipetting, plate reformatting, plate replication, PCR set-up, and other procedures which are significant aspects of fields related to life science research. Additionally, ALH has significantly augmented multiple areas of life science research, making way for experiments, which makes them more precise and reproducible, thereby driving the growth of the segment.
North America region would lead the trail by 2027-
Based on region, the North America region held the largest share of the global automated liquid handling market, contributing to more than two-fifths of the total share in 2019, and will continue its leadership position during the forecast period. This is owing to availability of technologically advanced ALH systems, large presence of pharmaceutical and biotech companies and increase in adoption of ALH in the region. On the other hand, the Asia-Pacific region is anticipated to manifest the fastest CAGR of 10.3% from 2020 to 2027. Increase in the demand for ALH, developing infrastructure of healthcare industry and surge in awareness regarding automated lab equipment are the major factors that drive the growth of the market in this province.
Leading players of the market-
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