Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "Global Lab Automation Market 2020-2025 by Product, Type, Geography and Impact of Covid-19 with Ansoff's Analysis" report has been added to ResearchAndMarkets.com's offering.
The global laboratory automation market is estimated to be USD 4.42 Billion in 2020 and is expected to reach USD 5.77 Billion by 2026 growing at a CAGR of 5.6%
Laboratory automation is a multi-disciplinary advanced approach used in the laboratory to increase productivity, increase the efficiency of time and the laboratory process. Automation technology is used to streamline or alter manual handling of instruments and processes. The degree of automation that any lab requires depends on its workflow. Some labs prefer automation of only a few instruments, while others might choose to prefer automating its research phase.
Lab automation is expected to grow during the forecast period considering multiple factors such as the adoption of lab automation in pharma and R&D institutes, increase in demand for miniaturizing process equipment.
Various factors contribute to growth in the laboratory automation market such as rise in geriatric population, miniaturization of processes, benefits of lab automation, progressing markets of drug discovery and diagnostics, and government funding for biotech and drug discovery research, while on the contrary low priority for lab automation among small and medium-sized laboratories turn out as a restrain on the market.
Segments Covered
Based on equipment and software, the market is segmented into automated workstations, off-the-shelf work-cells, robotic systems, automated storage and retrieval system, software, and other equipment. In 2020, the automated workstation segment is expected to account for the largest share of the lab automation market. The high demand for automation in liquid handling is the key factor in driving market growth in this segment. Automated workstations offer advantages such as cost and time reduction, and accuracy enhancement.
Based on application, the market is segmented into Drug Discovery, Clinical Diagnostics, and Microbiology Solutions. In 2020 clinical diagnostics segment is expected to account for the largest share of the lab automation market. Factors such as growing population and increasing reach of healthcare facilities in growing economies attribute to its growth.
Based on end-user, the lab automation market is segmented into pharmaceutical and biotechnology companies, hospitals and diagnostic labs, and research and academic institutes. In 2020, the segment of biotechnology & pharmaceutical companies is expected to account for the largest share of the lab automation market. Factors such as increasing product intricacy, pricing pressure, high cost incurred by errors, and the need for consistency in quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate the drug discovery process.
North America is expected to account for the greater share of the global lab automation market. The growth for lab automation in North America is driven by the increasing number of investments in research and innovation by the government, the large presence of pharmaceutical R&D labs in this region, and lab automation adoption by hospitals and clinical diagnostic labs due to the increasing volume of tests. However, high costs of equipment and low priority of automation in small to medium-sized labs are restraining the growth of this market.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Market Dynamics
Drivers
- Increase in the adoption of Lab Automation
- Miniaturization of Processes
- Progressing Markets of Drug Discovery and Diagnostics
- Government Funding for Biotech and Drug Discovery Research
Restraints
- Low Priority for Lab Automation Among Small and Medium-Sized Laboratories
Opportunities
- Emerging markets provide a pool of opportunities to market players
- The wide scope and increasing adoption in microbiology
- Biobanking applications
Key Topics Covered:
1. Report Description
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Trends
5. Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6. Lab Automation Market, By Equipment & Software
6.1 Automated Workstations Primary Packaging Equipment
6.2 Off-the-shelf Automated Workcells
6.3 Robotic Systems
6.4 Automated Storage & Retrieval Systems (ASRS)
7. Lab Automation Market, By Application
7.1 Drug Discovery
7.2 Clinical Diagnostics
7.3 Microbiology Solutions
8. Lab Automation Market, By End User
8.1 Biotechnology and Pharmaceutical Companies
8.2 Hospitals and Diagnostic Laboratories
8.3 Research and Academic Institutes
9. Lab Automation Market, By Geography
10. Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreements, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Funding
11. Company Profiles
11.1 Tecan
11.1.1 Introduction
11.1.2 Financial Overview
11.1.3 Product Portfolio
11.1.4 Recent Developments
11.1.5 Key personnel
11.2 PerkinElmer
11.3 Danaher
11.4 Thermo Fisher
11.5 Agilent Technologies
11.6 Hamilton Robotics
11.7 Abbot Diagnostics
11.8 Eppendorf
11.9 QIAGEN
11.10 Roche Diagnostics
11.11 Siemens Healthineers
11.12 BMG Labtech GmbH
11.13 Aurora Biomed Inc.
11.14 Hudson Robotics
11.15 BIOMERIEUX SA
For more information about this report visit https://www.researchandmarkets.com/r/ma0w95
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