Automated liquid handling systems are specialized laboratory equipment used to dispense precise volumes of fluids into assay plates or tubes. These systems reduce the scope of error in several processes like sample preparation, drug discovery, chemical synthesis and clinical diagnostics. They offer benefits like minimized manual errors, greater repeatability, consistency and productivity. With rising healthcare expenditure, growing R&D investments and advent of high-throughput screening in drug discovery, demand for automated liquid handling systems is increasing significantly.
The global Automated Liquid Handling Systems Market is estimated to be valued at US$ 4.63 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Growing Demand from Healthcare Industry
The key opportunity for automated liquid handling systems lies in the rapidly growing healthcare industry. Rising incidence of various diseases is prompting drug manufacturers and clinical laboratories to enhance drug discovery and diagnostic testing processes. Automated liquid handling systems improve efficiency and quality of processes involved in molecular biology applications, analytical chemistry and microplate-based assays. Their demand is rising notably from pharmaceutical and biotechnology companies for use in laboratory automation solutions. Continuous technological advancements to develop high-throughput, precise and flexible systems will further aid their adoption across healthcare sector in coming years, driving the market growth.
Porter’s Analysis
Threat of new entrants: The automated liquid handling systems market has moderate threat of new entrants due to high initial investments required for R&D and manufacturing. However, developed economies provide opportunities for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and bargaining for better prices. However, customized solutions increase switching costs.
Bargaining power of suppliers: Major suppliers have low-to-moderate bargaining power due to the availability of component suppliers. However, suppliers of proprietary technologies possess higher bargaining power.
Threat of new substitutes: Threat of substitutes is low as automated liquid handling systems provide accuracy and efficiency advantages over manual operations. However, semi-automatic systems are substitutes.
Competitive rivalry: The market has high competitive rivalry due to the presence of global and regional players offering customized and innovative solutions.
SWOT Analysis
Strength: Automated systems offer high accuracy, efficiency and reproducibility. They are essential for industries like pharmaceuticals, healthcare, and research institutes.
Weakness: High initial investments and maintenance costs. Require technical skills to operate complex systems.
Opportunity: Growing biopharmaceutical industry and focus on process automation create opportunities. Rising R&D investments in developing nations also provide scope.
Threats: Economic slowdowns can decrease equipment upgrade plans. Regulatory hurdles for new products.
Key Takeaways
The Global Automated Liquid Handling Systems Market Size is expected to witness high growth during the forecast period owing to the rising demand from end-use industries like pharmaceutical and biotechnology.
Regional analysis: The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period owing to rising pharmaceutical and biotechnology research activities in developing economies like China and India. China dominates the APAC market and is a major global exporter. Government initiatives are aiding the regional growth of ALH systems in the pharmaceutical and research sectors.
Key players operating in the automated liquid handling systems market are Ingersoll Machine Tools Inc., Automated Dynamics, M.Torres Industrial Designs, SAU, Electroimpact Inc., MIKROSAM, Accudyne Systems, Inc., Fives, Coriolis Composites. Major players are focusing on new product launches and business expansions to strengthen their market presence.
For More Insights, Read: https://www.newswirestats.com/automated-liquid-handling-systems-market-demand-growth-and-regional-outlook-by-2030/
