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Pharmaceutical Industry Growth and Impact on the Pipette and Accessories Market: Strengthening the Growth Trajectory of the Pipettes And Accessories Market
Pipettes And Accessories Market
What Is the Expected CAGR for the Pipettes And Accessories Market Through 2025?
There has been a consistent expansion in the size of the pipettes and accessories market in the past few years. The market, currently valued at $1.42 billion in 2024, is projected to escalate to $1.48 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.4%. Factors contributing to the historical growth phase include an upward trend in the demand for accurate lab devices, progress in pharmaceutical research, a higher occurrence of chronic illnesses, an essential requirement for high-throughput screening, an increase in the demand for precise liquid management, escalated fund allocation for life sciences, and the growth of clinical and diagnostic laboratories.
What's the Projected Size of the Global Pipettes And Accessories Market by 2029?
The market area for pipettes and related accessories is anticipated to enjoy uniform expansion over the upcoming years, rising to a worth of $1.77 billion in 2029 with a compound annual growth rate (CAGR) of 4.5%. This progressing development throughout the prediction period stems from various factors such as the surge in the requirement for precise laboratory investigations, increasing clinical diagnostic practices, the emphasis on environmental assessments, the extended biopharmaceutical R&D sector, amplified investment in life sciences and the evolving need for custom-made medicine. Forward-looking trends in the predicted time frame envelop the escalating demand for automated fluid management systems, advancements in user-friendly designs, proliferating acceptance of digital pipettes, the broadening use of multi-channel pipettes in large-scale examinations, the creation of sustainable and recyclable pipette tips, and the harnessing of IoT and AI for improved laboratory operations.
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Top Growth Drivers in the Pipettes And Accessories Industry: What's Accelerating the Market?
The anticipated growth of the pipette and accessories market is being fuelled by the expansion of pharmaceutical companies. The economy's area mainly focused on the research, development, manufacturing, and sale of medicinal drugs for medical treatment or therapy is the pharmaceutical industry. This industry is experiencing growth due to an increase in chronic disease cases, advances in research and technology, and healthcare reforms that result in increased healthcare spending. Pipettes and accessories, critical for drug formulation, sample preparation, and analytical testing in pharmaceutical processes, accurately measure and transfer specific liquid volumes. For example, GOV.UK reported in July 2024 that the value of UK pharmaceutical exports has bounced back, with significantly higher values in 2022 and 2023 than in 2021. Hence, the growth of the pipette and accessories market is being boosted by the expansion of pharmaceutical companies.
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What Trends Will Shape the Pipettes And Accessories Market Through 2029 and Beyond?
Key players in the pipettes and accessories market are focusing on the development of groundbreaking products that incorporate advanced technologies, such as Bluetooth connectivity. These technologies enhance the integration of pipette devices with various laboratory software, promoting efficient data management, real-time data sharing, and workflow optimization. Sartorius AG, a Germany-based pharmaceutical and laboratory equipment manufacturer, rolled out affordable pipettes in September 2023-the Picus 2 electronic pipettes. These pipettes, equipped with Bluetooth connectivity technology, allow users to sync with the Sartorius Pipet*ting mobile app and integrate with other systems. Designed for easy pipet*ting, these devices are lightweight, have a streamlined design, and come with features such as customizable programs, safety functionalities and are easy to clean.
What Are the Main Segments in the Pipettes And Accessories Market?
The pipettes and accessories market covered in this report is segmented -
1) By Type: Manual Pipettes, Electronic Pipettes, Accessories
2) By Channel Type: Single Channel, Multi-Channel
3) By Application: Hospitals, Academic And Research Institute, Pharmaceutical And Biotechnology Companies, Other Applications
Subsegments:
1) By Manual Pipettes: Single-Channel Manual Pipettes, Multi-Channel Manual Pipettes, Adjustable Volume Manual Pipettes, Fixed Volume Manual Pipettes
2) By Electronic Pipettes: Single-Channel Electronic Pipettes, Multi-Channel Electronic Pipettes, Digital Electronic Pipettes, Programmable Electronic Pipettes
3) By Accessories: Pipette Tips, Pipette Calibration Tools, Pipette Stands And Holders, Pipette Servicing And Maintenance Kits, Pipette Filters
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Which Top Companies are Driving Growth in the Pipettes And Accessories Market?
Major companies operating in the pipettes and accessories market are Thermo Fisher Scientific Inc., Corning Incorporated, VWR International LLC, Mettler Toledo, Bio-Rad Laboratories Inc., Eppendorf SE, Sarstedt AG & Co. KG, Hamilton Company, Greiner Bio-One International GmbH, Cole-Parmer Instrument Company LLC, Biotix Inc., Integra Biosciences AG, Gilson Incorporated, Brand GMBH + CO KG, Socorex ISBA SA, Ajanta Export Industries, Microlit, Heathrow Scientific, Vistalab Technologies Inc., Capp, Oxford Lab Products, Nichiryo Co. Ltd., Phoenix Instruments, Agilent Technologies Inc., Kartell Labware
Which Regions Will Dominate the Pipettes And Accessories Market Through 2029?
North America was the largest region in the pipettes and accessories market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pipettes and accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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