Lab Automation Software Market to Showcase Excellent Growth By 5.23% CAGR up to 2023 | DANAHER, HUDSON ROBOTICS, BECTON DICKINSON, AGILENT TECHNOLOGIES, SIEMENS HEALTHCARE, TECAN GROUP, PERKINELMER

The global lab automation software market is expected to grow at a CAGR of 5.23% over the forecast period (2018 - 2023). In this immensely competitive world squeezing the maximum efficiency out of every department, including the R&D labs, is a constant issue. Automation of routine laboratory procedures for the use of dedicated workstations and software to program instruments allows associate scientists and technicians to think creatively about the implications of their experimentation and to design effective follow-up projects or develop alternative approaches to their work instead of spending their days performing tasks of tedious repetition. Automation is used is a wide variety of life sciences applications ranging from proteomics to systems biology. The high throughput is the primary driving factor in clinical diagnostics, where profits are driven by the number of samples.

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Increasing Adoption of Stand-Alone Automated Solutions is driving Market Growth
Laboratory automation has developed over the past decade as a means of consolidating testing, reducing costs, and improving the effectiveness of laboratory testing. Analytical equipment has been successfully automated, yielding dramatic improvements in throughput, precision, convenience, and data handling. Automated analyzers now form the backbone of all clinical laboratories, both large and small. Over the past decade, automation has been extended to pre-analytical processes as well but has been most often viewed as large as well as fully integrated total laboratory automation systems that include sample sorting, routing, centrifugation, aliquot preparation, analysis, and sometimes, post-analytical storage and retrieval. Modular systems provide either analytical capability or pre-analytical processing, which can be selected independently to meet the users’ individual needs. They also allow a more flexible use of space or positioning of functions is existing facilities. Modular systems manufacturers have developed several products to support selected areas of pre-analytical processing. Systems which can be purchased as stand-alone modules include machines to sort, aliquot, and archive specimens. Some of these include cap removal and may also include centrifugation in the future.

Key Developments in the Market
• September 2017 - Agilent announced a platinum sponsorship agreement with LabCentral, biotech innovation hub based in Cambridge, Massachusetts. As a platinum sponsor, Agilent will provide LabCentral's shared laboratory workspace with a variety of Agilent technology.
• July 2017 u2013 Thermo Fisher Scientific announced two innovative technologies (ISQ EC Single Quadrupole mass spectrometer, MAbPac RP 1mm columns). These are expected to increase analytical analysis.
• June 2017 - Roche announced that it would be showcasing new solutions for lab innovation and leadership at the 22nd IFCCu2013EFLM European Congress of Clinical Chemistry and Laboratory Medicines in Athens. The congress will offer the opportunity to experience first-hand Roche’s latest technological advancements in diagnostics technology and solutions, including the Roche Integrated Core Lab (ICL).

The major players includes –
THERMO FISHER SCIENTIFIC, DANAHER, HUDSON ROBOTICS, BECTON DICKINSON, SYNCHRON LAB AUTOMATION, AGILENT TECHNOLOGIES, SIEMENS HEALTHCARE, TECAN GROUP LTD, PERKINELMER, HONEYWELL INTERNATIONAL, BIO-RAD, ROCHE HOLDING AG, EPPENDORF AG, SHIMADZU CORPORATION, AURORA BIOMED, amongst other.

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Laboratory Information Management System has largest Market Share
The laboratory information management systems industry has exhibited robust growth over the past five years as laboratories have grappled with an increase in sample volumes, partly due to increased demand for diagnostic testing from the burgeoning elderly population. Industry operators have particularly focused on developing software that assists with operational issues, such as data security and regulatory compliance. The market is driven by several factors such as the rising pressure to comply with regulations, a growing need to integrate healthcare systems, a shift from legacy systems to commercial off-the-shelf LIMS solutions, and technological advancements in LIMS products. The relatively untapped Asian market and the increasing acceptance of cloud-based LIMS have opened an array of opportunities for the growth of the market.

North America holds the Largest Market Share
Rise in the number of clinical and pre-clinical studies worldwide has made the need for speed in analysis of samples imperative, making automation to be one of the key components, contributing towards the growth of the market. Strict regulations by the United States government and the FDA, along with the growing demand in the diagnostic market and the increasing usage of the discovery and research labs, owing to the rising presence of various diseases, such as cardiovascular and neurological diseases, in the region, has fuelled the growth of the market. United States dominates the North American market and is the major revenue contributor in the region.

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