The disposable pipette tips market size projected to reach US$ 166.57 million by 2028 from US$ 88.51 million in 2021 to grow at a CAGR of 9.5% from 2021 to 2028; while non-filtered pipette tips segment by type held largest share of the market in 2021.
New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Disposable Pipette Tips Market: Key Insights
According to our new research study on "Disposable Pipette Tips Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Non-Filtered Pipette Tips and Filtered Pipette Tips) and End-User (Research Institutions, Hospitals, and Others) and Geography," the market is projected to reach US$ 166.57 million by 2028 from US$ 88.51 million in 2021; it is expected to grow at a CAGR of 9.5% during 2021–2028. The market growth is mainly attributed to growing research in the biotechnology sector and increasing advancements in the healthcare sector. However, the reuse of plastic pipette tips hampers the market growth.
Disposable Pipette Tips Market: Competition Landscape and Key Developments
Eppendorf AG, METTLER TOLEDO, THERMO FISHER SCIENTIFIC INC, Sartorius AG, Tecan Trading AG, Corning Incorporated, Socorex Isba SA, INTEGRA Biosciences AG, Labcon, and Analytik Jena GmbH are among the major players operating in the market. Leading market players adopt strategies such as the launch of new products, expansion and diversification of market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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In 2020, North America dominated the global disposable pipette tips market. The market growth in the region is majorly driven by the increasing investments and initiatives by market players and governments. The disposable pipette tips market players are actively involved in numerous business development activities, such as product launches and partnerships. For instance, in September 2021, Thermo Fisher Scientific Inc. declared a $192.5 million contract award from the US Department of Defense (DoD) to ensure consistent and reliable domestic production of pipette tips, which are used within research and diagnostic labs to discharge precise amounts of liquid. Thus, continuous efforts and investments by the market players by uplifting the production and sales of their products in the domestic and international markets to address the rising demands are driving the disposable pipette tips market growth.
The COVID-19 pandemic has disrupted the socioeconomic conditions of various countries across the world. The high number of COVID-19 cases has negatively impacted the global economy, and there has been a decline in overall business activities and growth of various industries operating in the region.
In mid-2020, many companies increased investments to boost pipette tip production capacity to support COVID-19 diagnostics and treatments. In October 2020, the Tecan Group received a US$ 32.9 million (CHF 29.8 million) contract by the US Department of Defense (DoD) and the US Department of Health and Human Services (HHS) to support the expansion of US pipette tip manufacture for COVID-19 testing. Disposable pipette tips are an important part of molecular tests for SARS-CoV-2 and other assays run on fully automated, high-throughput systems. The new manufacturing lines in the US are planned to begin producing pipette tips in the fall of 2021, allowing for an increase in domestic testing capacity of several million tests per month by December of that year. With increasing research and diagnostic testing, the demand for pipettes, pipette tips, well plates, and other diagnostics related consumables has increased, and is expected to grow vigorously during the forecast period. COVID-19-related issues have propelled the disposable pipette tips market growth.
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Growing Research in Biotechnology Sector Drives Disposable Pipette Tips Market:
The biotechnology sector across the world is witnessing growing inventions and innovations. As a result, the biotechnology hubs have cropped up in niche cities of the US, such as San Francisco, Raleigh, and Chicago. Moreover, regions such as Europe and Asia have taken several initiatives to improve the biotechnology sector in their countries. For instance, in September 2007, India announced their first National Biotechnology Development Strategy. Further, in 2015, the Department of Biotechnology (DBT) announced the National Biotechnology Development Strategy 2015–2020, also referred to Strategy-II. The strategy’s focus is to create a robust infrastructure for R&D.
Moreover, African governments have independently established biotech hubs and incubators that help encourage private–public partnerships. In Africa, BioPark Mauritius is the first multidisciplinary hub that provides a devoted space for R&D in the biotechnology sector in the country.
The extensive research being conducted worldwide to develop advanced diagnostics and therapeutics requires appropriate equipment and laboratory supplies, which is expected to induce the demand for pipettes and pipette tips in the next a few years. In addition, academic and research institutes are focusing on introducing basic and advanced biotechnology concepts to students and researchers, which would foster the growth of the disposable pipette tips market during the forecast period.
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Disposable Pipette Tips Market: Segmental Overview
Based on type, the disposable pipette tips market is bifurcated into non-filtered pipette tips and filtered pipette tips. In 2021, the non-filtered pipette tips segment accounted for a larger share of the market. Non-barrier tips are the workhorse of any lab and are usually the most affordable option. These tips come in the large quantities (i.e., in a bag) and pre-racked (i.e., in racks which can be easily place into boxes). The non-filtered pipette tips are either pre sterilized or non-sterilized. The tips are available for manual pipette as well as automated pipette. Majority of market players, such as Labcon, Corning Incorporated, and Tecan Trading AG, offer these types of tips.
Based on end-user, the disposable pipette tips market is segmented into hospitals, research institutions, and others. The research institutions segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 10.9% of the market during the forecast period.
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