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Laboratory Automation Market to Gain a Stronghold during forecast period 2019 to 2026 | Agilent Technologies, Inc., BioMerieux SA

10-18-2020 03:59 PM CET | Health & Medicine

Press release from: Allied Market Research

Laboratory Automation Market

Laboratory Automation Market

The research report published by Allied Market Report states that the global laboratory automation market is estimated to reach $8,424 million by 2026. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.

Laboratory automation is a multi-disciplinary innovative approach used in the laboratory to perform scientific experiments, carry out research, and execute analysis of different scientific materials. Automated laboratory equipment and software are adopted among the laboratories in biotechnology & pharmaceutical industries, research institutes, and hospitals to streamline workflow. Key advantages such as increase in productivity efficiency, lower cost of operation, and enhanced safety are the key drivers of the laboratory automation market.

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In addition, growth in adoption of automated laboratory systems in pharmaceutical companies & R&D institutes, developing R&D infrastructure in emerging economies, technological advancement in lab automation equipment, and rise in demand for miniaturize process equipment are significantly contributing toward the market growth.

By product, the market is categorized into equipment and software & informatics. At present, the equipment segment is the major revenue contributor and is estimated to grow significantly during the forecast period. Some key factors such as rise in demand for automated laboratory equipment, and technological advancements are majorly driving the market growth.

By application, the global laboratory automation market is categorized into drug discovery, clinical diagnostics, genomics solutions, and proteomics solutions. Presently, the drug discovery segment dominating the global market due to increase in adoption of lab automation equipment in drug discovery laboratories, surge in number of R&D activities for new drug development, and rise in demand for miniaturize process equipment in drug discovery laboratories drives the segment growth.

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Biotechnology & pharmaceutical industries segment is major revenue contributor in 2018 owing to large presence of pharmaceutical companies worldwide with increase in adoption of robotics & laboratory automation. In addition, laboratory automation has shifted from the support of manufactured products and quality control of laboratory applications, to R&D within pharmaceutical & biotechnology companies. This further supports the market growth.

North America accounted for approximately one-half of the global laboratory automation market share in 2018 and is expected to remain dominant throughout the forecast period. This was attributed to the rise in higher adoption of laboratory automation system, wide availability of advanced laboratory automation system, large presence of pharmaceutical, biotech companies, and R&D laboratories with higher adoption of automated laboratory systems, and large presence of trained professionals. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to, rise in awareness about advanced laboratory automation systems, the developing R&D sector, and increase in number of pharmaceutical & biopharmaceutical companies that majorly drive the market growth.

The Major Key Players Are:

Agilent Technologies, Inc., BioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche AG, Hamilton Robotics, PerkinElmer, Inc., Qiagen N.V., Siemens AG, Tecan Group Ltd., and Thermo Fisher Scientific Inc.

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Contact:

David Correa
Portland, OR, United States
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Web: https://www.alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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