Dublin, Jan. 10, 2022 (GLOBE NEWSWIRE) -- The "Laboratory Automation Systems Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global laboratory automation systems market is expected to grow from $4.85 billion in 2020 to $5.2 billion in 2021 at a compound annual growth rate (CAGR) of 7.2%. The market is expected to reach $6.4 billion in 2025 at a CAGR of 5.3%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
Major players in the laboratory automation systems market are Tecan Group, Perkinelmer, Thermo Fisher Scientific, Agilent Technologies, and Danaher.
The laboratory automation systems market consists of sales of laboratory automation systems and related services. The laboratory automation system speedup the processes such as, drug discovery, vaccine production, and others. Laboratory automation systems include clinical laboratory machines, equipment, and instruments, which analyze and automate many samples in the laboratory with minimal human intervention. The laboratory automation system market includes robots, conveyors, computer hardware & software, machine vision and others.
The laboratory automation systems market growth is limited due to severe shortage of skilled and trained healthcare professionals for operating the advanced laboratory equipment which requires specialized skillsets. These skillsets are limited to some hospitals, research organizations and medical equipment companies in the USA and Europe, this is expected to be a major restraint on the market. 40% of the healthcare industry was facing difficulties in hiring for process development staff due to shortage of talent.
According to American Society for Clinical Pathology (ASCP) survey, average job-vacancy rates exceeds 50% in some states. This shortage also led to rise in competition and salaries for the limited talent pool available, thereby further limiting the market growth.
The hospital laboratories are increasingly adopting RFID technology for laboratory automation systems due to its better productivity and product quality, reduced costs for technology, error reduction, faster delivery of samples and reduced human intervention.
Radio Frequency Identification (RFID) technology is an automatic system of identification based on wireless communication, consisting of a tag and a reader which can communicate through radio frequency. RFID technology is similar to bar code technology, but is more beneficial as it can perform some additional functions and actions automatically without human intervention than bar code technology. A RFID system is equipped with a transponder, transceiver, and a data processing unit to meet enhanced identification and tracking requirements in hospital laboratories.
Laboratory automated systems use RFID tags attached with patient samples for identification, and smart cards to store patient's data under a work station which monitors the process in the laboratory. For instance, Mayo Clinic, a healthcare company, adopted RFID enabled laboratory automation systems in order to minimize errors by 70%, maximize efficiency and patient safety, and reduce specimen turnaround time by 50%.
Increased demand for microbiology testing and standardization of sample-collection devices for microbiology culture has driven the adoption of automated laboratory systems for culture-based laboratory testing in clinical microbiology. Culture-based microbiology laboratory testing by manual methods is being replaced by automated methods with the help of total laboratory automation.
For instance, popular systems such as Becton Dickinson's Kiestra TLA, Copan's WASPLab and others enabling total laboratory automation (TLA) for culture-based microbiology testing. The potential to affect laboratory efficiency, turnaround time, and the overall quality of culture-based microbiology testing, is driving the automated laboratory systems market growth.
Key Topics Covered:
1. Executive Summary
2. Laboratory Automation Systems Market Characteristics
3. Laboratory Automation Systems Market Trends and Strategies
4. Impact Of COVID-19 On Laboratory Automation Systems
5. Laboratory Automation Systems Market Size and Growth
5.1. Global Laboratory Automation Systems Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Laboratory Automation Systems Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Laboratory Automation Systems Market Segmentation
6.1. Global Laboratory Automation Systems Market, Segmentation by Equipment & Software, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Automated Liquid Handling
Automated Storage and Retrieval Systems
Software and Informatics
6.2. Global Laboratory Automation Systems Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Laboratory Automation Systems Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Biotechnology and Pharmaceutical Industries
Hospitals and Private Labs
6.4. Global Laboratory Automation Systems Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Total Lab Automation
7. Laboratory Automation Systems Market Regional and Country Analysis
7.1. Global Laboratory Automation Systems Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Laboratory Automation Systems Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Thermo Fisher Scientific
Becton Dickinson and Company
BioTek Instruments Inc.
Bee Robotics Ltd
Apricot Designs Inc.
Hudson Robotics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sr3427
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900