Industry Outlook and Trend Analysis
The Lab Automation Market was worth USD 3.58 billion in 2014 and is expected to reach approximately USD 5.60 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.11% during the forecast period. Lab automation is characterized as the usage of technology to streamline or substitute manual control of processes and equipment. The level of automation that any lab requires relies upon its work process. While an academic research lab may use just a few instruments with a specific end goal to build efficiency and lessen the time spent on a tedious task, a drug discovery unit in a pharmaceutical organization will need to automate the majority of its research phases. Factors, for example, process scaling down, popularity for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and exactness, and huge workforce demand and supply gap are probably going to drive the development of this market. Furthermore, lab automation offers upgraded profitability and lessened costs, better staff safety, and little volumes of samples and reagents.
Equipment & Software Outlook and Trend Analysis
On the basis of equipment and software, the market is portioned into off-the-shelf workcells, automated workstations, automated storage and retrieval system, robotic systems, software, and other equipment. In 2017, the automated workstations fragment is anticipated to represent the biggest share of the lab automation market. The popularity for automation in liquid handling with is the key factor driving business sector development in this portion. Automated workstations offer benefits, for example, upgraded accuracy, and diminished time and cost.
Application Outlook and Trend Analysis
On the basis of applications, the lab automation market is portioned into clinical diagnostics, drug discovery, proteomics solutions, genomics solutions, microbiology, and other applications. The genomics arrangements fragment is anticipated to develop at the most astounding CAGR amid the figure time frame. The usage of mechanization is on the ascent in genomics for high-throughput necessities, giving significant reproducibility and throughput when contrasted with manual techniques.
End User Outlook and Trend Analysis
On the basis of end user, the lab automation market is divided into pharmaceutical and biotechnology organizations, research and academic institute, and hospitals and diagnostic labs. In 2017, the biotechnology and pharmaceutical companies section is anticipated to represent the biggest share of the lab automation market. Factors, for example, expanding pricing pressure, product intricacy, high cost acquired by blunders, and requirement for consistency in quality are driving biotechnology and pharmaceutical organizations to adopt automation and accelerate the drug discovery process.
Regional Outlook and Trend Analysis
In 2017, North America is anticipated to represent the biggest share of the worldwide lab automation market. The interest for lab robotization in North America is driven by the expanding number of investments in research and development by the administration, substantial existence of pharmaceutical R&D labs in this area, and lab automation selection by healing centres and clinical diagnostic labs because of expanding volume of tests.
The major players in the market are Siemens Healthineers, Perkin Elmer Private Limited, Eppendorf India Ltd, Abbott Diagnostics International Ltd, Thermo Fisher Scientific, Roche Diagnostics, Qiagen, Tecan, Agilent Technologies, Danaher Corporation and Hamilton Company. In 2017, Tecan dominated the Lab Automation Market.
The Lab Automation Market is segmented as follows-
By Software and Equipment:
Off-the-shelf Automated Workcells
Automated Storage & Retrieval Systems (ASRS)
By End User:
Hospitals and Diagnostic Laboratories
Biotechnology and Pharmaceutical Companies
Research and Academic Institutes
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?