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Pipettes and Accessories Market Outlook,Opportunity Analysis And Top Companies
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The global pipettes and accessories market size was valued at US$ 1.3 billion in 2017 and is expected to witness a CAGR of 4.0% over the forecast period (2018 – 2026).
Pipettes are used in biotechnology, pharmaceutical, and chemical laboratories in order to transfer certain volume of liquids. Micropipettes are important in molecular biology experiments, which require microliter amounts of solutions whereas serological pipettes are used in microbiology laboratories to prepare cell cultures that require media preparations of milliliter volumes. Volume transfers with sterile cultures and solutions using instruments such as micropipettes and serological pipettes are one of several types of routine techniques performed in a laboratory. Pipette designs such as electronic pipetting, ultralight pipettes, plungers positions in more user-friendly configurations, and reducing frictional forces help in reducing strain.
Increasing research and development in the field of pharmaceuticals and biotechnology due to high prevalence of infectious diseases and cancer are the major factors driving the pipettes and accessories market growth. According to 2012 European Union Industrial R&D Investment Scoreboard, the pharmaceutical and biotechnology sectors represented 17.7% of business R&D expenditure in the world.
Pharmaceutical companies are increasingly focusing on conducting research and development activities as well as outsourcing such activities to academic and private research institutes. This in turn is increasing demand for liquid handling systems such as pipettes. Pharmaceutical companies are also increasingly outsourcing their research activities to privately-owned Contract Research Organizations (CRO) to maintain their presence in the growing pharmaceutical and biotechnology market. For instance, in May 2018, Ritter Pharmaceuticals, Inc., a manufacturer of novel therapeutic products entered into an agreement with Medpace, a CRO to conduct the first of two pivotal Phase 3 clinical trials for RP-G28 among patients with lactose intolerance.
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Pipettes and Accessories Market Restraints
Pipettes are extensively used for various applications and are thus exposed to various types of reagents and specimens. They can introduce quality-specific concerns regarding precision and accuracy and can also lead to safety risks, particularly while working with hazardous chemicals or specimens with a high infection risk. Furthermore, high cost of electronic pipettes can be a negative factor for the market growth. For instance, the cost of the Xplorer plus electronic single channel pipette with charging adapter is around US$ 1000. This product may not be affordable for several laboratories due to its high price. However, manual pipettes tend to be more economical, though they produce greater variability, particularly for highly sensitive or expensive pipetting applications.
Pipettes and Accessories Market - Regional Insights
On the basis of region, the global pipettes and accessories market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is the largest market for biotechnology and pharmaceutical research and manufacturing and therefore, demand for pipettes and accessories is the highest in the region. According to a study published by the International Trade Administration in 2016, the U.S. is the major hub for drug manufacturing and is expected to grow considerably in future.
Asia Pacific pipettes and accessories market is expected to witness significant growth over the forecast period. This is owing to increasing clinical trials from biopharmaceutical industry in the region due to easy patient recruitment and availability of skilled professionals to conduct research experiments. This in turn leads to increasing number of research laboratories being set up in the region, thereby propelling demand for pipettes and accessories. For instance, in March 2017, Herbalife Company associated with Syngene established a new research and development lab at Bangalore, India.
According to the India Brand Equity Foundation June 2018 report, Government of India has reduced the approval time for new facilities to propel investments for drug manufacturers under the ‘Pharma Vision 2020’. Such initiatives are expected to attract foreign investors for the development of new manufacturing units, in turn increasing demand for pipettes and accessories during the forecast period.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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