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Global Lab Automation Market: Research Institutes and Educational Institutions Show Potential Growth in the Coming Years
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As per Market Research Reports Search Engine (MRRSE), the global market for lab automation is anticipated to display robust growth during the period of assessment. The global lab automation market has been witnessing steady growth since 2012. According to the research study conducted on lab automation market on a global level, the global market is projected to grow at a high CAGR of 9.6% throughout the period of forecast. The global market in 2017 is estimated at about US$ 1219.4 Mn and is anticipated to reach a valuation of more than US$ 3 Bn by the end of the assessment period. The stellar growth of this market is on account of availability of compatible lab automation solutions, rising strategic consolidation among service providers as well as end users, ease in FDA clearance, advancements in lab automation and rising adoption of lab automation.
Hospitals and diagnostic centres to show increased adoption of lab automation
Hospitals and diagnostic centres segment in the end user category is expected to show high growth and potential in the coming years. Hospitals and diagnostic centres around the globe have been portraying a higher adoption of lab automation since 2012 and this rate of consumption has been witnessing a steady growth path since the base year and is poised to continue to retail its status quo in the years to come. In 2017, the hospitals and diagnostic centres segment was estimated at a value of about US$ 800 Mn and is expected to reach a gigantic valuation more than US$ 2 Bn by the end of the assessment year. The growth rate of this segment outpaces that of other end user segments during the period of forecast, and it is projected to register a high CAGR of 10.3% during 2017-2027.
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Pharmaceutical companies and CROs (Contract Research Organizations) also have high potential in the global lab automation market. The pharmaceutical companies segment in the end user category is expected to be the second largest in terms of both value share as well as growth rate. This segment is poised to register a CAGR of 9.2% throughout the period of forecast to reach a value of around US$ 377 Mn by the end of the forecast year. Contract Research Organizations segment is anticipated to grow at a significant rate to reach a noteworthy value by the end of 2027.
Regional understandings on the adoption of lab automation across end use industries
The global lab automation market is surging ahead with superfast growth in North America, Asia Pacific excluding Japan (APEJ), Western Europe and Middle East and Africa (MEA) owing to increase in the demand for lab automation. The North America lab automation market by end user is expected to grow at a higher rate to register a CAGR of 10.6% during the period of forecast. The hospitals and diagnostic centres segment by end user in the APEJ lab automation market is anticipated to expand at a stellar 10.9% CAGR throughout the forecast period to reach a significant valuation by 2027 end. MEA is also expected to show higher potential with respect to the end user category of the lab automation market in the coming years.
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