Dublin, Oct. 28, 2022 (GLOBE NEWSWIRE) -- The "Modular Laboratory Automation - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Modular Laboratory Automation Market to Reach $4.6 Billion by 2026
Laboratory Automation is a proactive and customized process, involving automation of analytical process to total laboratory process. Laboratory automation is gradually shifting towards modular laboratory automation systems, which offer more flexibility and occupy lesser space. Rapid advancements in the field of laboratory automation have further led to the evolution of automated analytical and clinical testing, high-throughput screening, large-scale biorepositories, diagnostics, and combinatorial chemistry laboratories.
Amid the COVID-19 crisis, the global market for Modular Laboratory Automation estimated at US$3.6 Billion in the year 2022, is projected to reach a revised size of US$4.6 Billion by 2026, registering a compounded annual growth rate (CAGR) of 6.1 % over the period. The United States represents the largest regional market for Modular Laboratory Automation, and is projected to reach US$2.4 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 8.4% over the period.
The momentum in the modular laboratory automation market is likely to remain robust in the coming years. Concerns over dearth of skilled workforce, pressing need for high-quality, faster, and error-free laboratory analysis, and sustained drive towards total laboratory automation (TLA) would pave way for progressive growth in the market.
Continued advancements in technology and roll out of sophisticated modular platforms for diagnostic as well as research laboratories would aid market growth. Improvements in the healthcare infrastructure of developing regions would play vital role in future growth of the market. Growing awareness of various diagnostic procedures and the increased emphasis on early detection for improved therapeutic results are the major factors promoting demand for high-tech laboratory technologies in the US. Rising incidence of cancer, cardiac conditions as well as other neurodegenerative disorders in the country are promoting wider deployment of advanced laboratories with end-to-end automation capabilities.
Factors such as increasing public and private sector investments in lifescience and healthcare domains, rising incidence of chronic and lifestyle diseases, and improvement in healthcare access and rising awareness levels, are favoring market growth in the developing regions. China, in particular, is expected to spearhead growth, due to efforts to modernize healthcare infrastructure and increasing demand for laboratory services in clinical and diagnostic laboratories.
Select Competitors (Total 46 Featured)
- Agilent Technologies, Inc.
- Beckman Coulter, Inc.
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Eppendorf AG
- F. Hoffmann-La Roche Ltd.
- Honeywell International Inc.
- Hudson Robotics, Inc.
- PerkinElmer, Inc.
- QIAGEN N.V.
- Shimadzu Scientific Instruments
- Siemens Healthineers
- Synchron Lab Automation
- Tecan Group Ltd.
- Thermo Fisher Scientific, Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rise of Laboratory 4.0 to Change Dynamics in the Modular Laboratory Automation Market
- Modular Laboratory Automation Gains Traction Amid Growing Need to Enhance Workflow Efficiencies and Reduce Costs
- High Growth Opportunities in Clinical Diagnostics
- Automation Plays an Important Role in Patient Treatment Management
- As Laboratories Take On More Clinical Testing & Diagnostic Cases on the Back of Growing Global Healthcare Burden, Automation Becomes an Important Efficiency Enhancement Strategy
- Uptrend in Drug Discovery Industry Builds Robust Market Momentum
- Healthy Trajectory in Genomics Research Favors Market Growth
- Market Stands to Gain from Growing Proteomics Research Volumes
- Improving Healthcare & Lifescience Expenditure to Turbo Charge Future Growth of the Market
- Technology Advancements & Innovations Widen Scope & Span of Modulation Laboratory Automation
- Sophisticated Laboratory Information Systems Inflate Automation Deployments
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/n24t3d
