The Global Laboratory Automation Market is likely to Expand at CAGR of 5.14% by 2028

Triton Market Research presents the Global Laboratory Automation Market segmented by Application (Genomics Solutions, Clinical Diagnostics, Drug Discovery, Proteomics Solutions), End-user (Research Institutes, Biotechnology & Pharmaceutical Industries, Other End-users), Product Type (Software [Chromatography Data System, Laboratory Information Management Systems, Electronic Lab Notebook, Scientific Data Management System, Laboratory Information System], Equipment [Robotic Arms, Analyzers, Automated Liquid Handlers, Automated Storage and Retrieval Systems (ASRS), Automated Plate Handlers]), and by Geography (Asia-Pacific, Middle East and Africa, North America, Europe, Latin America). The market further discusses the Market Summary, Industry Outlook, Market Definition, Key Insights, Market Attractiveness Index, Vendor Scorecard, Drivers, Restraints, Opportunities, Key Strategic Developments, Impact of coronavirus, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Get a Sample Copy of the Report@ https://www.tritonmarketresearch.com/reports/laboratory-automation-market#request-free-sample

Triton's report suggests that the global laboratory automation market is estimated to register growth in revenue by 5.14% of CAGR during the evaluated phase of 2021-2028.

Laboratory automation helps enhance the efficiency of laboratory processes, overcoming the death of skilled professions to satisfy the surging demand in the pharmaceutical industry.

The surge in investments in pharma & biotech companies, along with the demand for high accuracy with less turnaround period, are factors that are opening multiple avenues for the laboratory automation market. For instance, pharmaceutical and biotechnology companies majorly concentrate on developing new molecules for treating several chronic conditions, including cancer and cardiovascular diseases.

This further requires the use of laboratory automation solutions leading to higher investments in these companies. However, the expensive setup process, physical constraints, and the challenge of technology integrations, are significant factors limiting the growth of the laboratory automation market worldwide.

Europe holds the largest market for laboratory automation market, and is likely to maintain its stronghold till 2028. The region's growth is mainly owing to demand for technologically advanced systems, use of automation in R&D laboratories, pharmaceutical companies, and availability of new automated laboratory systems. Furthermore, the well-developed healthcare infrastructure in countries, such as Germany and France, is also fueling the progress of the region.

Access full Report Description, TOC, Segments, Chart, etc: https://www.tritonmarketresearch.com/reports/laboratory-automation-market

The renowned companies engaged in the market comprise Becton Dickinson and Company, Siemens Healthineers AG, Agilent Technologies Inc, Danaher Corporation, Synchron Lab Automation, F Hoffmann-La Roche AG, Perkinelmer Inc, Abbott Laboratories, Tecan Group Ltd, Thermo Fisher Scientific Inc, and Hudson Robotics Inc.

The laboratory automation market is mainly capital-intensive as it includes high investments in R&D new product development. Moreover, the market has made it important for new players to keep track of technological advancements constantly. Further, the strong presence of existing companies has also restricted the entry of new players. This indicates that the threat of entry of new players is expected to be relatively high. On the other hand, the intensity of the competition among the existing players depends on numerous factors, including brand identity, competitive strategy, and degree of transparency. Due to the high market penetration, along with the ability to provide advanced products, the competition among the existing player is likely to remain high during the considered years.

Purchase a Copy of this Report @ https://www.tritonmarketresearch.com/reports/laboratory-automation-market#purchase-option

About Us:

Triton Market Research is a leading market research company with offices in the UK, providing the best online market research and data reports to our clients. We provide informative and fact-based data to our clients by performing in-depth data analysis and serve a wide horizon of industries such as healthcare, automation, (ICT) Information and Communication Technologies, agricultural industries, and construction. Our dedicated team of researchers and analysts will help you with the best market research consulting services for your business, which comprises profound study of primary, secondary, consumer and international market research, and industry market analysis.

Contact Us:

Phone: +44 7441 911839
Email: sales@tritonmarketresearch.com
Website: tritonmarketresearch.com

This release was published on openPR.