The latest market research report by Technavio on the global laboratory bottle-top dispenser marketpredicts a CAGR of close to 5% during the period 2018-2022.
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Technavio has published a new market research report on the global laboratory bottle-top dispenser market from 2018-2022. (Graphic: Business Wire)
The report segments the global laboratory bottle-top dispenser market by end-users (pharmaceutical and biotechnological companies and clinical and reference laboratories) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global laboratory bottle-top dispenser market, according to Technavio researchers:
- Growing prevalence of chronic diseases drives need for drug discovery research: a major market driver
- Increasing adoption of digitalization in healthcare: emerging market trend
- The Americas dominated the global laboratory bottle-top dispenser market in 2017
- In 2017, the pharmaceutical and biotechnology companies segment held around 42% share of the market
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Growing prevalence of chronic diseases drives need for drug discovery research: a major market driver
There has been an increase in chronic diseases such cancer, CVDs, and neurological diseases. This has led to an increase in research funding to discover new drugs. The funding is supporting drug discovery and diagnostics for different chronic diseases. Liquid handling instruments such as laboratory bottle-top dispensers enable the accurate screening of potential new drug candidates from high-throughput samples. Hence, the development of liquid handling accuracy and precision together is very crucial to evaluate performance.
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Increasing adoption of digitalization in healthcare: emerging market trend
Digital laboratory helps in reducing costs and generates accurate results. Such electronic solutions also contribute towards the reduction in time required. This allows digital equipment to replace manually intensive tasks, which results in researchers devoting more time to analyze and interpret data. This improves laboratory productivity as it reduces the chances of human errors and provides data-driven insights. The technology that is implemented delivers a large volume of data, which can be used to improve and optimize performance. With each step, digital systems collect data about the process and use the information to improve the same process. This increases throughput and reduces the workload on healthcare professionals.
According to a senior analyst at Technavio for research on lab equipment, "Fully automated liquid handling instruments such as laboratory bottle-top dispensers enables laboratories to handle the movement of specimens across disciplines such as genomics, molecular biology, and forensics. This generates quick results. In the research and pharmaceutical industries, the ability to move liquids in laboratories in a predefined volume is very vital. Large assays that can investigate more samples and biological targets in a limited period are necessary for such settings. Digital systems present a vast range of approaches to allow the control of liquid dispensing using contact or non-contact methodologies. The efficiency and effectiveness will enable higher adoption during the forecast period."
Global market opportunities
In terms of regional dominance, the Americas led the global laboratory bottle-top dispenser market. This can be attributed to the significant investments made in healthcare research and testing in this region.
EMEA was the second highest contributor in the market. The high number of clinical diagnostic tests, especially in countries such as the UK, Germany, France, Spain, and Italy, which require high precision tools such as laboratory bottle-top dispensers, are contributing towards the market growth in this region.
In APAC, there has been an increase in the middle-class population and the prevalence of diseases such as malaria and human immunodeficiency virus (HIV). Such factors have increased the demand for high-quality diagnostics and treatment, which resulted in a rise in demand for bottle-top dispensers.
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