“The global lab automation market is projected to grow at a CAGR of 5.1%.”
The lab automation market is expected to reach USD 5.20 billion by 2022 from an estimated USD 4.06 billion in 2017, at a CAGR of 5.1%. Factors such as process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large workforce demand and supply gap are likely to drive the growth of this market. In addition, lab automation offers enhanced productivity and reduced costs, better personnel safety, and small volumes of samples and reagents. However, high cost is limiting the adoption of lab automation among small and medium-sized labs which is likely to restrict the market growth.
“The software segment is expected to grow at the highest CAGR during the forecast period.”
On the basis of equipment and software, the lab automation market is segmented into automated workstations, off-the-shelf workcells, robotic systems, automated storage and retrieval system, software, and other equipment. The software segment is expected to witness the highest growth during the forecast period. The growth of this segment can be attributed to the rising need for efficient data storage, analysis, and sharing methods.
“The genomic solutions segment to grow at the highest rate during the forecast period.”
Based on application, the lab automation market is segmented into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology, and other applications. The genomics solutions segment is expected to grow at the highest CAGR during the forecast period. The rising need for high-throughput genomics in research labs and increase in genetic testing in diagnostic labs along, with better accuracy and reproducibility is contributing to the growth of lab automation solutions in genomics.
“APAC to witness the highest growth during the forecast period.”
The APAC region is expected to register the highest CAGR during the forecast period. A growing economy, increasing healthcare investments which lead to increased research activities and adoption of automated systems in clinical diagnostics and drug discovery, large population pool, improving public health awareness, and the rising demand for standardization and accreditation in laboratory practices are key market drivers in Asia Pacific. Process automation, miniaturization, and incorporation of robotics in lab automation workflows and the expansion of product distribution networks in APAC are the ongoing trends in the global lab automation market.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–32%, Tier 2–42% and Tier 3–26%
- By Designation – C-level–23%, Director Level–35%, Others–42%
- By Region – North America–41%, Europe–34%, Asia Pacific–16%, RoW–8%
The major players in the lab automation market include Tecan Group (Switzerland), PerkinElmer (US), Danaher (Beckman Coulter & Molecular Devices) (US), Thermo Fisher (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Diagnostics (US), Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).
The report analyzes the lab automation market and aims at estimating the market size and future growth potential of this market based on various aspects such as equipment and software, application, end user, and region. The report also includes an in-depth market trend analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in-turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by key players in the global lab automation market. The report analyzes the global lab automation market by equipment and software, application, end user, and region
- Product and Service Innovation: Detailed insights on upcoming trends and new product and service launches in the global lab automation market
- Market Development: Comprehensive information about the lucrative emerging markets by equipment and software, application, and end user
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the global lab automation market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products in pipeline of leading players in the global markets