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Liquid Handling Systems Market Projections 2024: Cutting-Edge Solutions and Industry Trends
liquid handling systems market size
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According to The Business Research Company's, The liquid handling systems market size has grown rapidly in recent years. It will grow from $4.09 billion in 2023 to $4.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increasing biotech and pharmaceutical industries, the growing number of clinical trials, high growth potential in emerging markets, and the growing number of initiatives and research activities.
The liquid handling systems market size is expected to see rapid growth in the next few years. It will grow to $5.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising investment in drug development and research, increasing demand for high-throughput screening, increasing focus on drug discovery, and introduction of advanced solutions. Major trends in the forecast period include advancements in laboratory development and manufacturing, notable technological advancements, and launches of new products and services.
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Market Drivers and Trends:
The increasing spending on animal health is expected to propel the growth of the mammalian polyclonal immunoglobulin G (IgG) antibody markets going forward. Animal health refers to the holistic care and management practices aimed at ensuring the well-being and longevity of animals, including pets, livestock, and wildlife. Spending on animal health is increasing due to rising pet ownership, greater demand for animal products, advances in veterinary care, stronger human-animal bonds, and stricter regulations. Higher spending on animal health boosts demand for specialized mammalian polyclonal immunoglobulin G (IgG) antibody, spurring innovation, loyalty, vet collaboration, and market growth in the pet care sector. For instance, in March 2023, according to the American Pet Products Association, a US-based not-for-profit industry association, pet foods and treats saw the highest spending at $58.1 billion, marking a significant 16.2% increase, making it the category with the largest growth. Therefore, the increasing spending on animal health is expected to propel the growth of the mammalian polyclonal immunoglobulin G (IgG) antibody market.
Major companies operating in the liquid handling systems market are focusing on developing innovative technologies, such as automated liquid handling platforms, to enhance their position in the market. Automated liquid handling platforms are essential tools in modern laboratories, helping to increase efficiency, accuracy, and reproducibility in liquid handling tasks while freeing up researchers' time for more complex analyses and experiments. For instance, in February 2022, SPT Labtech, a UK-based manufacturer of lab automation solutions, launched Apricot DC1, a flexible, 4-in-1 automated platform for managing liquids. This cutting-edge liquid handling platform has intuitive software interfaces for effortless protocol design and optimization. Its compact, scalable design caters to diverse laboratory sizes and applications while ensuring high precision and accuracy for reliable results across liquid handling tasks. This solution allows laboratories to streamline processes, minimize errors, and expedite research and development endeavors.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Danaher Corporation, Corning Incorporated, Lonza Group Ltd., PerkinElmer Inc., Sartorius AG, Mettler-Toledo International, Bio-Rad Laboratories Inc., Qiagen N.V., Integra Biosciences AG, Eppendorf, Tecan Trading AG, Promega Corporation, Metrohm A.G., Hamilton Company, 10x Genomics, Analytik Jena AG, BioTek Instruments, Hudson Robotics Inc., Gilson Inc., Orochem Technologies Inc, Aurora Biomed Inc., SciRobotics Ltd
Liquid Handling Systems Market 2024 Key Insights:
• The liquid handling systems market size is expected to see rapid growth in the next few years. It will grow to $5.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Adoption Of Personalized Medicine To Drive Demand For Liquid Handling Systems
• Advancements In Automated Liquid Handling Platforms Driving Market Growth
• North America was the largest region in the liquid handling systems market in 2023
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