Global Lab Automation Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of 5.6% during the forecast period.
Global Lab Automation Market Dynamics
Adoption of lab automation and investment in R&D to drive the market At present time, the lab automation system is widely adopted to reduce the workload and improve the quality and performance of end-use industries. The biotech and pharma companies are investing a large part of their sales in R&D activities to meet the current need and remain competitive in the market. The pharma companies are promptly adopting lab automation equipment such as automated workstations, robotic systems, etc. to automate the experiment process. However, the Outburst of coronavirus led the government of various countries to invest more in the R&D of new drugs, vaccines, etc., which is expected to boost the market. Slow adoption to restrain the market The installation and maintenance cost of the automation equipments is too high. The SMEs operates with low budget and believes to reduce cost as much as possible, the adoption rate of lab automation system in SMEs is low, which is expected to restrain the market. Improvement in healthcare sector to create opportunities for the market The improvements are being done in the healthcare institutions in various countries. The clinical diagnostics centers have been promptly adopting a lab automation system to reduce the workload, cost, eliminate human errors, and increase turnaround time and the quality of the diagnostic centers. The above factors are expected to create many lucrative opportunities for the market during the forecast period. Lack of awareness and flexibility to challenge the market In some countries, the awareness about the lab automation system is very low and the lab automation system also requires a high level of flexibility as the laboratories require, which is expected to create challenges for the global lab automation market.
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According to the TMR report, the equipment segment is expected to hold the largest market share of XX% of the global lab automation market by 2026. The equipment can be sub-segmented into automated workstations, robotic systems, microplate readers, and other automation equipments. From which the demand for automated workstations has been increasing to modify the traditional experiment process with automated process and to enhance performance & productivity. However, the increasing demand for automated liquid handling due to its benefits such as automatic sampling, mixing, and combining of liquids is expected to boost the market in the nearer future. Other factors like the increasing adoption of robotic systems and lab automation by pharma companies are expected to create many lucrative opportunities for the market.
Clinical diagnosis held the largest market share of XX% in 2019. The market share is attributed to the high adoption of automation by clinical laboratories. Increasing workloads at clinical laboratories the implementation of lab adoption helps to manage workload at low cost. The system also reduces the errors and malpractices made by human beings in subsampling, analytical operation, sample transportation, etc., and improves qualities in the diagnostics center, which is expected to boost the market in clinical labs.
North America is expected to witness highest growth during forecast period North America is expected to dominate the market throughout the forecast period due to increasing investment in R&D of new drugs, genomics, etc. The countries like US and Canada are the prompt adopter of the lab automation system thanks to the availability of a large number of biotech and pharma companies and healthcare infrastructure. However, the region has the presence of major key players in lab automation, which is expected to boost the market in North America. The Asia Pacific is expected to grow at a rapid pace during the forecast period. The growth can be attributed to the development of pharma companies and the modification of healthcare infrastructure in countries like India, China, and South Korea. The increasing awareness about lab automation has raised the demand for lab automation equipment in the region. However, the government invested a huge amount in the R&D activities in the region and the expansion and collaboration of foreign pharma companies in countries like India and China are expected to boost the market in the Asia Pacific. The objective of the report is to present a comprehensive analysis of the global Lab Automation market including all the stakeholders of the industry.
The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global Lab Automation market dynamic, structure by analyzing the market segments and project global Lab Automation market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global Lab Automation market make the report investor’s guide.
Global Lab Automation Market Key Players
• Tecan Group Ltd • Thermo Fisher Scientific Inc • Danaher Corporation • Hamilton • F. Hoffmann-La Roche Ltd. • Qiagen N.V. • Abbott Laboratories • Siemens AG • PerkinElmer Inc. • Agilent Technologies, Inc. • bioMerieux • Eppendorf • Bruker • Avantor • Smiths Group • Corning • Agilent • Roche • Bio-Rad • Gilson • Eppendorf • Beckman Coulter Life Sciences • PerkinElmer • Analytik Jena • VWR International • Shimadzu • SCIEX • HORIBA • Heska Corporation • Zymo Research • Omega Biotek • Sigma-Aldrich, Inc. • MACHEREY-NAGEL
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