Pharmaceutical companies are increasingly focusing on conducting number of research and development activities as well as outsourcing such activities to academic and private research institutes, which is increasing the number of new laboratory set-ups. This in turn increases demand for liquid handling systems, thereby fostering the market growth. Moreover, pharmaceutical companies are increasingly outsourcing their research to privately-based contract research organizations (CRO) to stay competitive in the exponentially growing pharmaceutical and biotechnology medicines sector. For instance, in May 2018, Ritter Pharmaceuticals, Inc.—a developer of novel therapeutic products entered into an agreement with Medpace—a clinical research organization (CRO)—to conduct the first of two pivotal Phase 3 clinical trials for RP-G28 among patients with lactose intolerance (LI). In October 2016, Sun Pharma—an India-based pharmaceutical company—announced plans to increase its research and development activities by investing in a new R&D unit at Madhya Pradesh, India.
Click To Continue Reading On Automated Liquid Handling Systems Market
However, automated liquid handling systems are unaffordable for medical settings in emerging economies and small-scale laboratories, due to its high cost, which in turn is a major factor hindering the market growth. Moreover, stringent manufacturing requirements for receiving commercial license and market approvals by various governmental agencies such as the FDA and European Commission, increases the costs of these devices. Furthermore, integration of Information Technology (IT) in lab flow instruments requires high manufacturing expenses, leading to elevated prices of these devices. The low cost options available in portable formats do not provide accuracy and reliable test results. For instance, according to a report published by Food and Drug Association (FDA) and A2LA Certification Board, 2013, bending of tips due to external factors may result in around 10% errors in pipetting accuracy in low cost automated liquid handling systems.
Get The Holistic SAMPLE With Research Methodology:
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.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Visit our news Website: https://www.coherenttimes.org