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(Health-NewsWire.Net, September 01, 2021 ) This report aims to provide detailed insights into the global lab automation market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth:
The lab automation market size will grow to USD 5.5 billion by 2025 from USD 4.3 billion in 2020, at a CAGR of 5.2% during the forecast period.
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Thermo Fisher Scientific, Inc. holds the leading position in the lab automation market, owing to its robust portfolio of lab automation instruments products and related accessories. Thermo Fisher has expanded its product portfolio through insight-driven innovation and strategic M&A to address to establish its position in the market. For instance, during the last three years. Thermo Fisher launched several instruments, such as the Real-Time PCR Systems (August 2020), the Multidrop Pico 1 and Pico 8 digital reagent dispensers(February 2020), Thermo Scientific inSPIRE, a vertical modular robotic platform, Thermo Scientific Cytomat SkyLine microplate storage and sequential delivery device that can hold up to 728 microplates and/or lids (February 2018), Thermo Scientific Orbitor RS2 Microplate to improve laboratory throughput and operational flexibility (February 2017).
Key Factors Driving Market Growth:
The Increasing spending on pharmaceutical R&D, growing food safety concerns, standardization of workflows, stringent regulatory control in the healthcare industry are fuelling the growth of the market. Moreover, high demand in the emerging nation and the growth of the pharmaceutical and biotechnology industries are some of the other major factors driving the growth of this market.
The Automated Workstations segment is expected to dominate the lab automation market, by product type, during the forecast period.
Automated workstations are compact & standalone, capable of conducting a particular task unattended. Owing to the easy integration with both existing and upcoming systems are favorable options for customers looking to introduce automation in their labs. The Automated workstations is further segmented to automated liquid handling systems, microplate reader, automated Elisa system, automated nucleic acid purification systems. The automated liquid handling system are growing at the highest CAGR. Owing to an increase in the number of tests carried out in pharmaceutical labs for screening compounds, optimizing leads, determining drug properties with absorption, distribution, metabolism, and excretion (ADME), and toxicity has favored the argument for automation.
The drug discovery is expected to be the fastest-growing lab automation market, by application, during the forecast period.
The drug discovery, by application, laboratory automation market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the increasing industry-academia collaboration for the development and use of fully automated, ultrahigh-throughput systems. Moreover, investments in automation permit the safer generation of data with improved accuracy, precision, reproducibility, and traceability, allowing drug discovery scientists to utilize higher–quality data in the hypothesis–driven research required to discover new medicines. Thus, growing the market of drug discovery segment.
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North America likely to emerge as the largest lab automation market
In this report, the laboratory automation market has been analyzed for four regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Growth in the North American market is also supported by the demand for the integration of laboratory systems, rising government funding for research, growth in biobanks, need for early drug discovery, and stringent regulatory requirements. Thus, North America dominated the market during the forecasted period.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the market.
Some of the key players are Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc,(US) Agilent Technologies (US), Danaher Corporation (US), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), and Tecan Group Ltd. (Switzerland).The leading players are adopting various strategies to increase their share in the lab automation market.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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