The market is estimated to grow with a CAGR of 4. 4% from 2020–2027. The growth of the market is attributed to some key driving factors such as increasing investment in R&D by market players and high rise in pharmaceutical and biotechnology industries.
New York, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Pipette Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Category ; Channel ; Volume ; Application and Country" - https://www.reportlinker.com/p05989506/?utm_source=GNW
However, high cost of R&D and devices is expected to obstruct the growth of the market to a certain extent during the forecast period.
Pipettes are laboratory tools commonly used in biotechnology, pharmaceutical, and chemical laboratories to transport specific volume of liquids or samples.Various types of pipette designs such as electronic pipetting and ultra-light pipettes are available in the market.
The pipettes help in accurately measuring the liquids for various biology experiments, pharmaceutical applications, and others.These devices help in preventing contamination and easy handling of liquids during laboratory procedures.
Two types of pipettes commonly used are glass pipettes that are excellent in chemical resistance, and plastic pipettes that are convenient in preventing contamination.
Rise in investments in R&D by market players contribute to the growth of the pipette market across the Asia Pacific. As per the Invest India statistics for the year 2018, it is stated that the Indian Biotechnology industry is likely to create opportunities worth approximately US$ 80.8 million. Also, the country has 14 ongoing biotechnology projects across the country. Chong Kun Dang Pharmaceutical, Samsung Biologics, SK Chemicals, Hanmi Pharm, DaewoongPharma, and Ildong Pharmaceutical are among the major pharmaceutical players in South Korea. Therefore, a rising number of pharmaceutical and healthcare companies is expected to grow drug development activities. The companies and organizations in the country are supporting for the research and development activities for drug development. For instance, in February 2018, Korea Pharmaceutical and Bio-Pharma Manufacturers Association has launched AI Drug Development Support Center, which aims to prepare a path for new drug development. Thus, integrating the latest technologies are leading to the automation in the sector, and hence it is expected that the country is likely to create good growth opportunity for pipettes market during the forecast period.
Based on type, the pipette market is segmented into air displacement pipette, and positive displacement pipette. The air displacement pipette segment held a larger share of the market in 2019; whereas, the positive displacement pipette segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on category, the pipette market is segmented into manual and electronic. The manual segment held a larger share of the market in 2019; whereas, the electronic segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on channel, the pipette market is segmented into single channel and multi-channel (8-channel, 12-channel, and others). The multi-channel segment held a larger share of the market in 2019 and is anticipated to register a higher CAGR in the market during the forecast period.
Based on volume, the pipette market is segmented into adjustable volume and fixed volume. The adjustable volume segment held a larger share of the market in 2019 and is anticipated to register a higher CAGR in the market during the forecast period.
Based on application, the pipette market is segmented into pharmaceutical laboratories, biotech laboratories, food & beverage, forensic laboratories, and others. The pharmaceutical laboratories segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period.
Some of the major primary and secondary sources for Asia Pacific pipette market included in the report are US Food and Drug Administration (FDA), Invest India, and others.
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