SEATTLE, Nov. 30, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global pipettes and accessories market was valued at US$ 1.3 billion in 2017 and is projected to exhibit a CAGR of 4.0% over the forecast period (2018–2026).
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Key Trends and Analysis of the Pipettes and Accessories Market:
Pipettes and accessories are required in several fields of science, including cell biology, microbiology, biotechnology, biochemistry, and quantitative chemistry. They are required in drug development research labs to handle various liquids during processes such as cell culture and liquid chemical transfer.
Key players in the market are focused on new product launches and R&D activities in order to enhance their market share. For instance, in 2013, Switzerland-based Contract Research Organization (CRO), IBR Inc., Institute for Biopharmaceutical Research (IBR) collaborated with a U.S-based company, Accelerated Technology Laboratories, Inc. (ATL) to offer Check&Track v2.0 Pipette Calibration and Management Software to GMP and GLP compliant laboratories. Similarly, in 2011, Mettler Toledo Rainin launched a Radio Frequency Identification (RFID) enabled family of pipettes. RFID functionality in the new Pipet-Lite XLS pipettes enables users to track the pipettes' calibration in order to ensure regulatory compliance.
Increasing R&D activities in the field of biotechnology and pharmaceutical industry due to high prevalence of infectious disease such as Ebola, Swine flu, and various cancers are expected to drive demand for pipettes and accessories. According to the European Federation of Pharmaceutical Industries and Associations 2018 report, in 2017, Europe invested around US$ 40 billion in pharmaceutical R&D. Furthermore, complex or repeated pipetting can benefit from electronic pipettes, since these can be programmed for specific protocols. Electronic pipettes produce more consistent data in comparison to manual pipettes as microprocessors eliminate human error and variability. All these factors collectively are expected to fuel the pipettes and accessories market growth during the forecast period.
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Key Market Takeaways:
- The global pipettes and accessories market is expected to exhibit a CAGR of 4.0% during the forecast period (2018–2026). This growth is attributed to increasing R&D activities for developing new and effective therapies for increasing geriatric population and incidence of chronic diseases and neurological conditions.
- Asia Pacific is expected to witness significant growth in the market due to increasing R&D investments in the region. According to the Organization for Economic Co-operation and Development (OECD), investment on pharmaceutical R&D in China increased 19% annually between 1995 and 2005, reaching US$ 30 billion in 2005.
- Key players operating in the global pipettes and accessories market include, Thermo Fisher Scientific, Eppendorf AG, Hamilton Company, Mettler-Toledo International, Inc., Lab Depot Inc., Sartorius AG, BRAND GmbH + CO KG, Capp ApS, Corning Inc., Denville Scientific, Inc., Gilson, Inc., Greiner Bio-One International GmbH, Integra Biosciences AG, Kimble-chase, Nichiryo Co., Ltd., and Socorex ISBA SA.