Dublin, July 19, 2021 (GLOBE NEWSWIRE) -- The "Lab Automation Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Lab Automation Market Report
The lab automation market is expected to grow at a CAGR of 8.53% during 2021-2026.
To scale up the process of manufacturing and to produce accurate results with increased quality and reduce time consumption, lab automation is gaining high traction in the healthcare industry. Many large hospitals in the developed countries have adopted lab automation techniques.
As a result, the global laboratory information management system market is expected to exhibit a significant CAGR and annual growth during the forecast period. In addition, a high level of investment in healthcare and life science research is boosting the demand for lab automation.
LAB AUTOMATION MARKET SEGMENTATION
The global lab automation market research report includes a detailed segmentation by product, application, automation, end-user, geography. The latest workstations, which are modular and customized to suit a particular application, such as sample preparation for genomics, proteomics, cellular analysis, and more, are gaining high momentum in the market. For instance, Abbott provides total labor depending on the requirement of the laboratory, and workstations can be procured. As a result, large laboratories are planning to prefer automated workstations to increase productivity across the globe.
The application of automation is helping researchers to test a more significant number of hypotheses. The automated robots and workstations benefit the researchers to evaluate large numbers of compounds against specific biological targets rapidly. Adopting digital workflow management practices and automated solutions is a key growth driver for labs to improve their efficiency and reduce their costs.
With the rise in the COVID-19 pandemic, most companies have invested in the task-targeted analyzers to increase the safety of lab personnel and handle the virus samples, especially in the preanalytical phase and preparing the samples to analyze it. Some pharma companies and research labs prefer using task-targeted analyzers in the post-analytical phase to produce error-free results. Compared to the total laboratory automation, implementing task-targeted automation is low, creating high growth in the market.
The biotechnology and pharma companies are increasing their usages of automated laboratory instruments, creating lucrative opportunities for the players in the market. The improved agility with the reduced testing time can reduce lead time for quality control labs by 60% to 70% and eventually leading to real-time product releases.
Additionally, hospital laboratories are unique entities within the hospitals. Around 92% of the hospitals operate with their laboratories. In recent years, private laboratories have expanded their footprints, especially in developing countries, fueling the market growth.
Public health laboratories are implementing partnership strategies with the World Health Organization and other international health entities to prevent and control health threats. The investments in new technologies with automated features will be high in the upcoming years.
INSIGHTS BY GEOGRAPHY
Many hospitals in North America have started to automate their labs to improve the quality of the labs, to provide better treatments to the people. Shortage of skilled laboratory technicians, increase in the number of diagnostic tests conducted, and increased investments in the life sciences industry are some of the major factors driving the demand for laboratory automation in the US. In Canada, two gene therapies for cancer treatment have been approved, and there are plans to implement somatic gene therapy in the coming years in lab automation market.
Manufacturers such as Abbott and Danaher are continuously focusing on product development and offering lab automation with new technology to increase their presence in the global market. In addition, key players are engaging in strategic acquisitions as part of their inorganic growth strategy to improve sales and profit margins. With the increase in the competition, vendors are expected to actively launch innovative devices to penetrate and tap the huge growth potential in the lab automation market.
Danaher, Thermo Fisher Scientific, Tecan, Illumia, Abbott, and Agilent Technologies are the leading players and accounted for significant shares in the market.
Thermo Fisher Scientific
Other Prominent Vendors
Peak Analysis & Automation
Synchron Lab Automation
Sunquest Information Systems
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at A Glance
7.2 Impact of Lab-Automation on COVID-19
8 Market Opportunities & Trends
8.1 Robotics Revolutionizing Lab Automation
8.2 Future of Lab-Automation - Smart Labs
8.3 Increased Demand for Task-Targeted Automation
9 Market Growth Enablers
9.1 Adoption of Lab Automation Among Genome Research Labs & Companies
9.2 Increased Product Launches
9.3 Increased Adoption of Automated Workstations
10 Market Restraints
10.1 Slow Adoption of Automation Among SMLs
10.2 Limited Skills Among Lab Technicians
10.3 High Cost of Implementing Laboratory Automation
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12 Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Market Size & Forecast
13.4 System: Geographic Segmentation
13.5 Automated Workstations
13.6 Automated Microplate Reader
13.7 Robotic Systems
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Market Size & Forecast
14.4 Software: Geographic Segmentation
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Drug Discovery
15.4 Clinical Diagnostics
15.5 Genomic Solutions
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Subtotal Automation
16.5 Total Laboratory Automation
17.1 Market Snapshot & Growth Engine
17.2 Market Overview
17.3 Biotechnology & Pharma Companies
17.4 Hospital and Diagnostic Laboratories
17.5 Forensic Laboratory
17.6 Food & Beverage
17.7 Environmental Testing
17.8 Research & Academic Institutes
For more information about this report visit https://www.researchandmarkets.com/r/nbrtv6
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