Modular Laboratory Automation Market is expected to reach USD 4137.83 million by 2023, registering a CAGR of 7.69% over the forecast period of 2018-2023| Major Players - THERMO FISHER SCIENTIFIC, SIEMENS HEALTHCARE, TECAN GROUP LTD, ROCHE HOLDING AG, EPPE

Market Analysis:

North America to Dominate the Market
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, have also fueled the growth of drug discovery and clinical diagnostics fields.

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Laboratory automation in the medical field involves the use of dedicated workstations and software to program instruments. 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. Modular laboratory automation has helped clinical and pre-clinical studies, by developing, optimizing, and streamlining the laboratory workflow. Device miniaturization has been a gradual trend. 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 among others.

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Market Segments:
Modular Laboratory Automation Market is segmented by:
1. Equipment and Software: Automated Liquid Handlers, Automated Plate Handlers, Robotic Arms, Automated Storage & Retrieval Systems (ASRS), Software, Analyzers
2. Field of Application: Drug Discovery, Genomics, Proteomics, Clinical Diagnostics, Other
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

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.

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