Selbyville, Delaware, May 06, 2021 (GLOBE NEWSWIRE) -- According to reliable estimations, global laboratory automation market had reached a valuation of USD 4831 million in the year 2020 and is likely to expand 5.14% CAGR during the study period, subsequently accounting for USD 6555 million by 2028. This rapid growth can be credited to rising R&D activities and technological advancements in laboratory systems.
The document specializes in offering complete assessment of the market segmentations as well as the regional outlook. Several business-centric strategies deployed by the leading companies have been scrutinized and offered in the research report.
Several companies have been focusing on improving the accuracy and efficiency of laboratory systems amidst the growth demand. Notably, laboratory automation helps in reducing the supply-demand gap of skilled staff, further minimizing the turnaround time.
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Thus, beneficial properties associated with automated laboratory systems coupled with escalating healthcare expenditure are stimulating global laboratory automation industry outlook. Surging investments in biotech and pharma companies in consort with growing demand for highly accurate systems are fueling the overall market size.
However, high production and deployment costs, complexities associated with technological integration, and other physical constraints could potentially act as a bottleneck to the growth of global laboratory automation market.
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Emphasizing on the regional scope
Global reach of operations of the market has been regionally bifurcated on the basis of North America, Latin America, Europe, Middle East & Africa, and Asia-Pacific.
North America
Estimates state that North America laboratory automation industry is predicted to expand with a CAGR of 4.60% between 2021 and 2028, owing to supportive federal outlook, widespread adoption of innovative technologies, high concentration of prominent manufacturers, and availability of an advanced healthcare infrastructure. In the United States, several automation solutions providers are involved in continually innovating to incorporate a large number of clinical equipment. For instance, Beckman Coulter, obtained clearance from the US Food and Drug Administration for its lab automation system. Additionally, the country?s microbiological laboratories are pursuing to acquire technologically innovative solutions to cope with vast samples. Here, numerous prominent manufacturers are commercializing fragment or complete laboratory automation systems for bacteriology in the country. Therefore, these developments are projected to propel the laboratory automation market on a growth path in the United States.
Europe
In terms of revenue, laboratory automation market in Europe is likely to record a 5.31% CAGR through 2028. The growth can be attributed to proliferating sales of pharmaceutical products, rising R&D activities, and accessibility towards a well-established medical infrastructure. France is one of the largest consumers of pharmaceutical products globally. Moreover, it is considered to be the second-largest country in the region providing medical care facilities following Germany. This indicates that the research activities in the pharmaceutical industry are likely to witness substantial growth. Earlier, France joined the United Kingdom and other global powers by declaring its ambitious goal to develop large-scale genome sequencing operations in the healthcare industry. Furthermore, a report, France Medicine Gnomique 2025, states proposals for significant investments in the first five years of the new ?French Genome Project? further accompanied by commercial contributions. Hence, such initiatives are likely to influence the demand for automation in laboratories, further propelling the French laboratory automation market on a growth path.
Asia-Pacific
Asia-Pacific laboratory automation industry size is anticipated to showcase a y-o-y growth rate of 6.04% over the period of 2021-2028, owing to alarming increase in COVID-19 cases, rising export of pharmaceutical products, focus towards establishing an advanced healthcare infrastructure, and improving economic conditions. In Rest of Asia-Pacific, economic growth and demographic transformations in Vietnam are majorly improving the healthcare services. Here, public and provincial-level hospitals are undergoing significant upgrades in their facilities, owing to the government?s funds. Such developments are generating new opportunities for the healthcare sector. These factors are expected to significantly boost the demand for laboratory automation solutions, thereby fueling the progression of the laboratory automation market.
Latin America
Laboratory automation market share in Latin America is reckoned to witness a compound annual growth rate of 5.28% through 2028. Factors such as mounting number of laboratories, rapid expansion of the pharmaceutical and biotechnology sector, increased pervasiveness of chronic conditions, and favorable government initiatives. In Latin America, the laboratory automation market is motivating mainly due to the growth in the number of laboratories with advanced systems, a rise in pharmaceutical and biopharmaceutical companies, and an increase in R&D activities. In Brazil, government programs and academic research initiatives have encouraged the progress of the life sciences sector. Moreover, the Hermes Pardini Group has established the largest automated clinical laboratory in Brazil, which further contributes to the growth of the laboratory automation market.
Global Laboratory Automation Market by Application Reach (Revenue, USD Million, 2021-2028)
- Proteomic Solutions
- Genomic Solutions
- Drug Discovery
- Clinical Diagnostics
Global Laboratory Automation Market End-user Analysis (Revenue, USD Million, 2021-2028)
- Research Institutes
- Biotechnology & Pharmaceutical Industries
- Others
Global Laboratory Automation Market Product Varieties (Revenue, USD Million, 2021-2028)
Equipment
- Analyzers
- Robotic Arms
- Automated Plate Handlers
- Automated Storage and Retrieval Systems (ASRS)
- Automated Liquid Handlers
Software
- Scientific Data Management System
- Electronic Lab Notebook
- Chromatography Data System
- Laboratory Information System
- Laboratory Information Management Systems
Global Laboratory Automation Market Geographical Landscape (Revenue, USD Million, 2021-2028)
North America
- U.S.
- Canada
Latin America
- Mexico
- Brazil
- Rest of Latin America
Europe
- France
- Spain
- Germany
- Italy
- U.K.
- Rest of Europe
Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa
Asia-Pacific
- India
- Japan
- China
- Australia & New Zealand
- South Korea
- Rest of Asia-Pacific
Global Laboratory Automation Market by Competitive Scope (Revenue, USD Million, 2021-2028)
- Abbott Laboratories
- F. Hoffmann-La Roche AG
- PerkinElmer Inc.
- Tecan Group Ltd.
- Siemens Healthineers AG
- Agilent Technologies Inc.
- Synchron Lab Automation
- Hudson Robotics Inc.
- Danaher Corp.
- Thermo Fisher Scientific Inc.
- Becton, Dickinson & Co.
TABLE OF CONTENTS
1. GLOBAL LABORATORY AUTOMATION MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. MARKET DEFINITION
2.2. KEY INSIGHTS
2.2.1. CLINICAL DIAGNOSTICS IS THE LARGEST APPLICATION IN THE MARKET
2.2.2. RESEARCH INSTITUTES IS THE FASTEST-GROWING END-USER IN THE MARKET
2.2.3. EQUIPMENT IS THE LARGEST PRODUCT TYPE IN THE LABORATORY AUTOMATION MARKET
2.3. PORTER’S FIVE FORCES ANALYSIS
2.3.1. THREAT OF NEW ENTRANTS
2.3.2. THREAT OF SUBSTITUTE
2.3.3. BARGAINING POWER OF SUPPLIERS
2.3.4. BARGAINING POWER OF BUYERS
2.3.5. INTENSITY OF COMPETITIVE RIVALRY
2.4. MARKET ATTRACTIVENESS INDEX
2.5. VENDOR SCORECARD
2.6. MARKET DRIVERS
2.6.1. BETTER THAN NON-AUTOMATED LABORATORIES
2.6.2. ADVANCEMENT OF LABORATORY SYSTEMS
2.6.3. RISE IN RESEARCH & DEVELOPMENT SECTOR
2.7. MARKET RESTRAINTS
2.7.1. COSTLY SETUP PROCESS
2.7.2. PHYSICAL CONSTRAINTS
2.7.3. TECHNOLOGY INTEGRATION CHALLENGE
2.8. MARKET OPPORTUNITIES
2.8.1. GROWTH IN INVESTMENTS IN PHARMA AND BIOTECH COMPANIES
2.8.2. DEMAND FOR HIGH ACCURACY WITH LESS TURNAROUND PERIOD
2.9. KEY STRATEGIC DEVELOPMENTS
2.9.1. MERGERS & ACQUISITIONS
2.9.2. PRODUCT LAUNCH & DEVELOPMENTS
2.9.3. PARTNERSHIP, CONTRACT/AGREEMENT, & COLLABORATION
2.9.4. BUSINESS EXPANSION
2.10. IMPACT OF CORONAVIRUS ON LABORATORY AUTOMATION MARKET
3. GLOBAL LABORATORY AUTOMATION MARKET OUTLOOK - BY APPLICATION
3.1. CLINICAL DIAGNOSTICS
3.2. DRUG DISCOVERY
3.3. GENOMICS SOLUTIONS
3.4. PROTEOMICS SOLUTIONS
4. GLOBAL LABORATORY AUTOMATION MARKET OUTLOOK - BY END-USER
4.1. BIOTECHNOLOGY & PHARMACEUTICAL INDUSTRIES
4.2. RESEARCH INSTITUTES
4.3. OTHER END-USERS
5. GLOBAL LABORATORY AUTOMATION MARKET OUTLOOK - BY PRODUCT TYPE
5.1. EQUIPMENT
5.1.1. AUTOMATED LIQUID HANDLERS
5.1.2. AUTOMATED PLATE HANDLERS
5.1.3. ROBOTIC ARMS
5.1.4. AUTOMATED STORAGE AND RETRIEVAL SYSTEMS (ASRS)
5.1.5. ANALYZERS
5.2. SOFTWARE
5.2.1. LABORATORY INFORMATION MANAGEMENT SYSTEMS
5.2.2. LABORATORY INFORMATION SYSTEM
5.2.3. CHROMATOGRAPHY DATA SYSTEM
5.2.4. ELECTRONIC LAB NOTEBOOK
5.2.5. SCIENTIFIC DATA MANAGEMENT SYSTEM
6. GLOBAL LABORATORY AUTOMATION MARKET - REGIONAL OUTLOOK
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