Portland, OR -- (SBWire) -- 06/30/2017 --According to a new report published by Allied Market Research, titled, "Automated Liquid Handling (ALH) Market by Type, Modality, Procedure, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global ALH market was valued at $585 million in 2016, and is projected to reach $1,054 million by 2023, growing at a CAGR of 8.7% from 2017 to 2023. The multi-instrument ALH system segment is anticipated to witness highest growth rate from 2017 to 2023.
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Automated liquid handling (ALH) has now become a vital tool in drug development and discovery, especially in high-throughput screening procedures comprising millions of compounds. Different innovations in ALH systems have facilitated assay miniaturization, thereby exponentially accelerating the discovery of chemical probes and drug candidates for querying biological systems.
The major factors that drive the global ALH market are advantages of ALH systems over manual pipetting, dearth in skilled professionals, and technological advancements associated with ALH systems. In addition, rise in awareness of the benefits of using ALH is expected to fuel the market growth. However, high costs of instruments and complex operability of advanced ALH systems are expected to restrain the market growth. Furthermore, untapped potential of emerging markets provides lucrative opportunities to the market players.
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The standalone ALH type segment occupied the highest share in ALH type market in 2016, owing to their sheer usage and availability in different research and clinical settings. The ALH PCR setup procedure segment witnessed the highest growth rate in 2016. However, the serial dilution procedure is anticipated to dominate the market.
At present, the biotechnology and pharmaceutical companies dominate the end user segment, and are expected to grow at a CAGR of 7.5% during the forecast period. This is attributable to increase in usage and application of ALH systems to carry out high-throughput screening in these companies.
Key Findings of the Automated Liquid Handling (ALH) Market:
The fixed tip modality segment is anticipated to grow at the highest CAGR from 2017 to 2023.
The biotechnology and pharmaceuticals company end user segment generated the highest revenue in 2016, and is expected to continue its dominance in the near future.
North America dominated the global ALH market, and is projected to grow at a CAGR of 7.3% from 2017 to 2023.
Asia-Pacific is expected to witness the highest growth rate during the forecast period.
The major companies profiled in the report include Tecan Group Ltd., Corning Incorporated, Hamilton Company, Agilent Technologies, Mettler-Toledo International Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Danaher Corporation, Aurora Biomed, and Eppendorf AG.
