In 2022, the liquid handling system market was USD 4,692 million, and it is expected to reach a value of USD 6,521 million growing at a rate of 4.20%, by 2030 as told in a report by P&S Intelligence.
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This growth is credited to the developing life science industry, increasing investment to develop efficient and innovative therapeutic agents by various companies, and the growing incidence of chronic diseases.
Furthermore, the demand for these products has increased considerably due to the outbreak of the COVID-19. These systems were used in all sorts of laboratory work during the testing of samples for the virus.
India and China, are offering opportunities to various life science companies and drug manufacturers. For example, Pfizer Inc. set up a research and development center at the Indian Institute of Technology Madras, to enhance pharmaceutical research in India.
APAC will grow the fastest, at a rate of over 5.1%, in the years to come, owing to the rising investments in biotechnology.
China held the largest share in 2022, and it will advance significantly in the coming years. This is mainly credited to the number of research and development activities taking place in the life sciences industry.
Due to the developing life science industries, growing investment to develop effective and innovative therapeutic agents by companies, and rising incidence of chronic diseases, the demand for liquid handling system will grow considerably in the coming years.
