Innovation to remain the key to pipette tips market growth

The demand for pipette tips increased dramatically as a result of the COVID-19 outbreak

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New Delhi: The pipette tips market is worth USD 680.40 million in 2022 and is expected to grow at an 8.0% CAGR from 2022 to 2032 to reach USD 1.47 billion by 2032.
Constant product innovation, rising demand for R&D, and an increasing number of healthcare settings, diagnostics, and liquid handling systems are key drivers driving pipette tips market growth as well as the pipette tips market opportunities.
Furthermore, there has been an increase in the number of innovations in this product category, which is fuelling demand for pipette tips. Pipette tips, such as wide orifice tips, gel loading tips, standard, filtered, low-retention pipette tips, and so on, saw a significant increase in demand for pipette tips following the emergence of COVID-19 in 2020, as they were among the critical laboratory devices used to detect the virus’s presence.
The filter tips product type segment of the pipette tips market in the United States is expected to grow at the fastest CAGR during the forecast period. The robotics segment had the largest pipette tips market share.
The demand for pipette tips increased dramatically as a result of the COVID-19 outbreak, as daily testing at diagnostic centres for infection detection increased influencing the pipette tips market adoption trends. However, many supply chain bottlenecks were encountered as demand for pipette tips outstripped supply.
Revenue from sales of pipette tips market increased significantly in the second half of 2020, particularly in the United States and Europe. Manufacturers of pipette tips are constructing a new plant for high-quality laboratory consumables made of functional high-tech polymers which will positively affect the pipette tips market key trends and opportunities as well as the pipette tips market future trends.
Eppendorf stated in its 2021 annual pipette tips market report that sales of pipette tips majorly its robotic pipetting systems have increased and have more than doubled since 2020. This suggests that demand for pipette tips notably robotic pipettes will rise as well along with the constructive effect on the pipette tips market future trends.
KEY TAKEAWAYS:
  • The standard product segment dominates the pipette tips market in product insight. It accounts for 32.5% of total revenue and is expected to grow at a healthy rate in the future.
  • In terms of technology insight, the non-robotic pipette tip segment is anticipated to have highest revenue in the pipette tips market share of 56.4% through 2032 and is expected to grow significantly during the forecast period.
  • In terms of application insight, the pharma and biotech segment dominates the pipette tips market, accounting for 32.3% of total revenue. The segment is expected to grow at the fastest CAGR during the forecast period, maintaining its leading position in the pipette tips market.
  • North America dominates the pipette tips market, accounting for 37.5% of the total revenue.
COMPETITIVE LANDSCAPE: 
New market research report on pipette tips will offer valuable insight into the market, with a focus on some of the major players such as Thermo Fisher Scientific, Sartorius AG, CORNING INC., Mettler Toledo, Tecan Trading AG, Hamilton Company, Eppendorf AG, and others.
Pipette tips market participants’ key strategic initiatives include new product development, collaborations, regional expansions, and mergers.
RECENT DEVELOPMENT:
Collaboration:
  • Moderna, Inc., a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Thermo Fisher Scientific Inc. announced a 15-year strategic collaboration agreement in 2022 to enable dedicated large-scale manufacturing in the United States of Spikevax, Moderna’s COVID-19 vaccine, and other investigational mRNA medicines in its pipeline, resulting in increased use of essential lab supplies such as pipette tips.
Expansion:
  • Thermo Fisher Scientific announced a $140 million investment to expand its laboratory plastics disposables production in order to meet global demand for pipette tips  during COVID-19 testing, as well as for the development and manufacturing of therapies and vaccines.
Acquisition:
  • Sartorius has acquired Biological Industries Ltd., a manufacturer of cell culture and molecular biology research products.

These insights are based on a report on Pipette Tips Market by Future Market Insights.