Global Laboratory Automation (Instruments, Reagents, and Consumables) Market will be worth US$18.191 billion by 2024
Increasing investment in the field of automation so as to reduce human error and improve operational efficiency are some of the key factors driving the demand for lab automation solutions worldwide. In addition, inflating expenditure on research and development activities by vendors so as to introduce new and improved products in the market will add to the growing demand for these solutions. However, the high initial cost of fully automated workstations along with the availability of a skilled workforce at competitive prices will restrict the demand for these devices in the developing nations over the forecast period.
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Reagents and Consumables held a significant market share in 2018
By component, the global laboratory automation market is segmented as instruments, reagents and consumables, and services. The market for instruments has been bifurcated as hardware and software. Reagents and consumables dominated the global laboratory automation market owing to the rise in volume due to automation and an increasing number of laboratory tests across all regions. In addition, rising health concerns in developing nations along with budding geriatric population in several advanced countries will boost the demand for reagents and consumables throughout the forecast period.
The North American region is projected to hold a substantial market share throughout the forecast period
Geographically, the global laboratory automation market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. The major factors driving the demand for laboratory automation solutions in the North American region are increasing healthcare expenditure, early adoption of advanced technology and the presence of specialized healthcare facilities. The United States of America is one of the major markets in the region and government regulations coupled with research and development expenditure will play a major role in determining the demand for these solutions over the next five years.
This report also includes a study of strategies and product portfolios of some of the leading companies in the global laboratory automation market. It consists of company profiles of the leading companies such as Synchron Laboratory Automation, Hudson Robotics, F. Hoffman- La Roche AG, Scienion AG, Tecan Trading AG, Thermo Fisher Scientific, COPAN ITALIA spa, Horiba, Ltd., Cerner Corporation, and HighRes Biosolutions,
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