$7.08 Billion Opportunity by 2026 in the Lab Automation Market: Global Key Vendors - Shimadzu Hudson Robotics, Siemens Healthcare, Thermo Fisher Scientific, Agilent Technologies, Synchron Lab Automation

Market Overview:
Global Lab Automation Market is estimated at $3.80 billion in 2017 and is projected to reach $7.08 billion by 2026, at a CAGR of 7.1%. Advancements in drug discovery and clinical diagnostics, benefits of lab automation over traditional laboratory, shortage of laboratory professionals and miniaturization of processes resulting in low reagent costs and high productivity are some key factors driving the market growth. However, low priority for lab automation among small and medium-sized laboratories and lack of planning for technology development are one of the major factors restraining the market growth.

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Laboratory automation is a multi-disciplinary strategy to research, develop, optimize and capitalize on technologies in the laboratory that enable new and improved processes. Laboratory automation professionals are academic, commercial and government researchers, scientists and engineers who conduct research and develop new technologies to increase productivity, elevate experimental data quality, reduce lab process cycle times, or enable experimentation that otherwise would be impossible. The most widely known application of laboratory automation technology is laboratory robotics. More generally, the field of laboratory automation comprises many different automated laboratory instruments, devices software algorithms, and methodologies used to enable, expedite and increase the efficiency and effectiveness of scientific research in laboratories.

Top Industry Players:
Some of the key players in Lab Automation Market are Honeywell International , Shimadzu Hudson Robotics, Siemens Healthcare, Thermo Fisher Scientific, Agilent Technologies, Synchron Lab Automation, Becton Dickinson, Eppendorf AG, Aurora Biomed, Roche Holding AG, Danaher, Tecan Group Ltd, Bio-Rad and Perkinelmer.

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Market Segments:
Based on Application, the genomics solutions segment is expected to held steady growth during the forecast period. The rising need for high-throughput genomics in research labs and increase in genetic testing in diagnostic labs along, with better accuracy and reproducibility is contributing to the growth of lab automation solutions in genomics. By geography, North America is projected to account for the largest share of the global market. The growth in this region is driven by the rising number of investments in research and innovation by the government, large presence of pharmaceutical R&D labs in this region, and lab automation adoption by hospitals and clinical diagnostic labs due to increasing volume of tests.
Applications Covered:
• Genomics Solutions
• Clinical Diagnostics
• Microbiology Solutions
• Drug Discovery
• Proteomics Solutions
• Other Applications
Equipment & Softwares Covered:
• Software
• Automated Workstations
• Off-The-Shelf Automated Workcells
• Microplate Readers
• Robotic Systems
• Automated Storage & Retrieval Systems (ASRS)
• Other Equipments
End Users Covered:
• Hospitals and Diagnostic Laboratories
• Research and Academic Institutes
• Biotechnology and Pharmaceutical Companies

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This release was published on openPR.