Modular Laboratory Automation Market will be Valued at $4137.83 Million by 2023: Global Key Players – THERMO FISHER SCIENTIFIC, DANAHER CORPORATION, HUDSON ROBOTICS, BECTON DICKINSON, SYNCHRON LAB AUTOMATION

The global modular laboratory automation market was valued at USD 2663.79 million in 2017, and is expected to reach USD 4137.83 million by 2023, registering a CAGR of 7.69% over the forecast period of 2018-2023. Laboratory automation in the medical field involves the use of dedicated workstations and software to program instruments. The extent of automation required, depends on the nature of the task to be performed, the need for processing, and the amount of human intervention in the operation. Laboratory automation has transformed the medical laboratory space, by steadily replacing semi-automatic and manual methods with fully automated systems. These automation systems are beneficial in sterile environments, wherein human error is greatly reduced and time is saved. Currently, routine laboratory processes, such as testing, screening, etc., are automated. Automation tools can process concurrent requests in real-time, showing marked improvement in productivity and throughput.

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Modular laboratory automation has helped clinical and pre-clinical studies, by developing, optimizing, and streamlining the laboratory workflow. Modular laboratory automation tools are widely being employed for diagnosis in emerging markets, such as India and China, and the demand for these tools is expected to rise steadily over the forecast period. Owing to its greater health awareness and the presence of major R&D firms in the region, North America is the largest contributor to growth in this market. The growing emphasis on optimizing workflows by minimizing human intervention, is augmenting the growth of the market.

Key Developments in the Market
• February 2017 - Thermo Fisher Scientific Inc. acquired Finesse Solutions Inc., a leader in the development of scalable control automation systems and software for bioproduction.
• February 2017 - Becton Dickinson announced an early access program for its single cell analysis platform, BD Resolve.
• February 2017 - Honeywell inaugurated its state-of-the-art refrigerant laboratory at the India Technology Center.
• January 2017 - Agilent Technologies announced that it has extended collaboration on reproductive genetics.
• January 2017 - Siemens Healthineers and Biogen announced an agreement to jointly develop new MRI tools for multiple sclerosis.
• January 2017 - PerkinElmer launched Vectra Polaris, an automated quantitative pathology imaging system.

Major Players:
THERMO FISHER SCIENTIFIC, DANAHER CORPORATION, HUDSON ROBOTICS INC., BECTON DICKINSON, SYNCHRON LAB AUTOMATION, AGILENT TECHNOLOGIES, SIEMENS HEALTHCARE, TECAN GROUP LTD, PERKINELMER INC., HONEYWELL INTERNATIONAL INC., BIO-RAD LABORATORIES INC., ROCHE HOLDING AG, EPPENDORF AG, SHIMADZU CORPORATION, AND AURORA BIOMED, amongst others.

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Technological Innovations in Device Miniaturization and Increased Throughput to Drive Growth
Clinical research focuses on generating quantitative data for drug discovery, diagnostics, and research teams. This discipline has been greatly aided by scientific and technological advances, thus ensuring greater reliability and throughput. Automation tools used in laboratories are required to be simple, yet intuitive to use. Device miniaturization has been a gradual trend in this regard. Innovations in this field have yielded a new class of devices that are rugged, fault tolerant, reliable, and are able to connect with other systems, to report data and interact with management systems, for generating sample trends. Robotic handlers have transformed into general purpose devices that offer a wider range of features, for full and semi-automation of tasks in wet chemistry automation. The associated software are being developed, to provide robustness and compatibility with existing applications. A wide range of robotic handlers is now available in the market, based on the extent of automation. Solutions are available for labs that require selective automation, in the form of robots with limited functionality and low cost. Thus, innovations in technology have provided compact systems to meet the requirements of the industry, thereby driving the growth of the market.

Automated Liquid Handlers Equipment Account for the Largest Market Share
Liquid handlers are usually employed in bio chemical and chemical laboratories. Automated liquid handling robots help in dispensing samples and other liquids in laboratories. Liquid handlers work on a software controlled using an integrated system, which customizes the handling procedures with large transfer volumes. Liquid handlers are enhanced with precision flow syringes, to control the flow. Automated liquid handlers minimize run times and maximize accuracy. Moreover, liquid handlers are capable of operating across a wide range of volumes, extending into nanolitres, thus proving their usefulness in dispensing operations. Leading companies have set the benchmark for the development of automated liquid handlers, and are constantly investing in developing premium products for increasing productivity in an effective manner. The evolution of the liquid handlers capable of handling minute volumes of liquids, has contributed to the rapid development of modular lab automation systems in the market.

North America to Dominate the Market over the Forecast Period
The rise in the number of clinical or pre-clinical studies has pushed the demand for an efficient and cost-effective solution, required for the analysis of samples, thus propelling the growth of the North American modular lab automation market. Strict regulations imposed by the US government and the FDA, growing demand in the diagnostic market, increasing emphasis on the drug discovery and research laboratories, and rising presence of various diseases, (such as cardiovascular diseases and neurological diseases in the region), have fueled the growth of drug discovery and clinical diagnostics fields. This trend has translated into the demand for modular lab automation market. The United States dominates the North American market and the global market, and has continued to be the major revenue generator in the regional and global markets.

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