Global Lab Automation Market: Industry Key Player - Abbott Laboratories, Agilent Technologies, Perkin Elmer Inc., Thermos Fisher Scientific Inc., Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcript Inc.

Market Research Reports Search Engine (MRRSE) has recently updated its massive report catalogue by adding a fresh study titled “Global Lab Automation Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2027”. This business intelligence study encapsulates vital details about the market current as well as future status during the mentioned forecast period of 2027.The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Lab Automation Market. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.

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Lab automation is the process of the integration of various types of devices on a same platform, such as diagnostic analyzers, research devices, and supportive instruments and software to increase throughput with remarkable speed, precise motion, and consistency in report generation. During the automation of a routine laboratory, dedicated workstations and software are used to program instruments, which allows scientists and technicians to maintain consistency in quality and result output by reducing mundane tasks. The growing number of diagnosed cases and increasing real-time result analysis with the advent of automation techniques have led to a threefold increase in the demand for automated devices, services, and advanced software.

Lab automation offerings consist of two types of components - devices and software. The devices section consists of biochemistry devices, molecular devices, hematology devices, immunology devices, microbiology devices, and others. In the software section, FMI has included scheduling software and momentum integrated software. In the overall lab automation market, the devices segment has the largest market share in terms of value, which has a huge potential in the coming future, due to the increasing demand for biochemistry devices and molecular devices.

Due to the dominant features and advantages, lab automation is preferred by the diagnostics industry, followed by drug discovery and research labs. Lab automation has a wide variety of applications in life sciences, ranging from clinical pathology to molecular research. In clinical diagnostics such as biochemistry, hematology, microbiology, and immunology, high throughput is directly proportional to time efficiency and operator safety. While research organizations and academic institutions generally prefer automation, which reduces human intervention in tedious and repetitive tasks. The global lab automation systems market was valued at US$ 1,130 Mn in 2017, and is expected to expand at a CAGR of 9.6% over the forecast period (2018–2027).

Emerging countries in the Asia Pacific region such as China and India are the major countries for investment opportunities because of higher growth rates of molecular-based diagnosis, quality improvisations, increasing number of partnerships, and healthcare modernization in these countries. To increase revenue share, medical device manufacturing companies are focusing on the development of automated devices used for in-vitro diagnosis and research, with advanced facilities, which will indirectly pump growth into the lab automation market, and also boost the software and services revenue over the forecast period. The increasing demand for high-end, advanced lab automation devices from end users, such as pharmaceutical and biotechnology companies, hospitals and diagnostics centers, ambulatory surgical centers, educational institutes, and research organizations for better output and performance will generate opportunities for the launching of novel lab automation techniques and services in the market over the long run.

The use of lab automation services has increased very steeply over the past decade. Lab automation services help in increasing throughput at a remarkable speed, and with precise motion and consistency in report generation. The growing number of diagnosis cases and real-time result analysis with the advent of automation techniques has led to a threefold increase in the demand for automated devices, and advanced software and services. The aforesaid factors will increase the demand for lab automation in large integrated healthcare systems.

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Several players in the lab automation market are majorly focusing on new automated device launches and services to reduce the costs of lab automation services, in order to gain maximum market share. Acquisition, mergers, strategic collaborations, and technology play a vital role in the growth of the lab automation market.

On the basis of component, the lab automation market is segmented by devices and software. Further, the devices segment has been segmented into six categories - biochemistry devices, molecular devices, hematology devices, immunology devices, microbiology devices, and others. The software segment is bifurcated into two segments scheduling software and momentum integration software.

On the basis of application, the lab automation market is segmented into life sciences research & development, drug-discovery, and diagnostics. In terms of revenue share, the life sciences R&D segment dominated the global lab automation market in 2018, and is expected to do so throughout the forecast period. The diagnostics application segment is anticipated to expand at the fastest CAGR over the forecast period.

On the basis of end user, the global lab automation market is segmented into pharmaceutical companies, hospitals and diagnostic centers, educational institutions, contract research organizations (CROs), and research institutes. The hospitals and diagnostic centers segment currently accounts for the highest revenue in the lab automation market, due to the increasing usage of automation devices in hospitals and diagnostic centers in developed countries.

Among the key regional markets, the North American lab automation market is projected to exhibit relatively higher growth in the global lab automation market, with a CAGR of over 10.7% during the forecast period. Revenue from the lab automation markets in North America and Western Europe are expected to collectively account for over 57.2% of the global lab automation market revenue in 2018. Key competitors in the lab automation market are Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc., Thermos Fisher Scientific, Inc., Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcript, Inc.

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