Growth Boosting Factors:
The growth of this market is majorly driven by the global expansion of pharmaceutical & biotechnology industries, Significant R&D expenditure by biopharma companies, Increasing funding for life science research, growing market demand for high-throughput screening, Increasing focus on data precision and accuracy, Increasing labor costs leading to higher automation requirements. However, Premium pricing of liquid handling systems and slow adoption of automation in small and medium-sized laboratories may restrain the market growth.
Global Market Size:
The global Liquid Handling System market is projected to reach USD 5.8 Billion by 2027 from USD 4.6 Billion in 2022, at a CAGR of 4.6 % during the forecast period.
Leading Companies Operating in This Market:
The liquid handling system market is highly consolidated and is dominated by various players. The major players operating in this market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Eppendorf (Germany), PerkinElmer Inc. (US), Agilent Technologies, Inc. (US), Sartorius AG (Germany), Mettler-Toledo International Inc. (US), Qiagen (Netherland), Corning Incorporated (US), Lonza Group Ltd. (Switzerland), Tecan Group Ltd. (Switzerland), Brooks Automation Inc. (US), Endress+Hauser Group Services AG (Sweden), Brand GmbH & Co. KG (Germany), Greiner Bio-One international GMBH (Germany), Gardner Denver (US), Hamilton Company (US), Gilson Incorporated (US), Hudson Robotics (US), HiTec Zang GMBH (Germany), Integra Biosciences AG (Switzerland), Metrohm A.G (Switzerland), Orochem Technologies Inc. (US), SPT Labtech Ltd.(UK), and Tomtec (US).
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Thermo Fisher Scientific is a leading player of the liquid handling systems market in 2021. The company invested USD 1,406 million in R&D activities in 2021. Thermo Fisher’s extensive R&D enables the company to enhance its technology, software, and service capabilities. A significant focus on R&D activities also helps the company provide innovative products and maintain and improve its competitive position in the liquid handling market space. With its broad product portfolio, strong marketing efforts, and wide geographic presence, the company is expected to grow at a high rate in the liquid handling market during the forecast period.
Danaher Corporation is an important player in the liquid handling market. Its subsidiary Beckman Colter offers analytical instruments, reagents, and consumables. In 2021, the company spent USD 1,742 million on R&D. Furthermore, research and development increased nearly 30%, allowing us to deliver breakthrough innovation more quickly. It is focused on opportunities to extend its global reach and advance its technology; Sales in 2021 for this segment by geographic destination were North America 36%, Western Europe 27%, other developed markets 6% and high-growth markets 31%. This highlights its strong presence and focuses on high-growth markets across Eastern Europe, the Middle East, Africa, Latin America, and Asia.
Different Growth Strategies Adopted by These Players:
Product innovation, Partnerships and collaborations, Mergers and acquisitions, Geographic expansion and Service offerings are the major growth strategies adopted by the key players to maintain their dominance in the global market.
Conclusion:
In conclusion, the global liquid handling system market is highly competitive, and key players are adopting a range of growth strategies to gain a competitive advantage. These strategies include product innovation, partnerships and collaborations, mergers and acquisitions, geographic expansion, and service offerings. Companies that are able to effectively execute these strategies are likely to see continued growth in the global liquid handling system market.
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