Lab Automation in Bioanalysis Markets, 2024 - Rising Demand for Personalized Medicines & Technological Innovations Resulting in Improved Solutions

DUBLIN, June 21, 2019 /PRNewswire/ -- The "Lab Automation in Bioanalysis Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The lab automation in bioanalysis market is expected to grow at a CAGR of 3.85% over the forecast period of 2019-2024

Such a solution, need has been a sought out in the bioanalysis applications as the manual and traditional handling may result in the corrupted or infected sample. The emergence of automated solutions such as automated liquid handlers, automated plate handlers, robotics has eliminated the human interventions in the bioanalysis laboratories by increasing accuracy and improving efficiency.

• For clinical trials, it is sometimes imperative to monitor drug levels in subjects in real-time, which enables medical monitors and clinical investigators to adjust dosing to meet the subject needs and study requirements. Thus, clinical trials and diagnostics require bioanalysis technologies. The automated handling makes it better placed in obtaining error-free results. Owing to the rise in the number of clinical trials and studies and growth in complexity, lab automation in bioanalysis is projected to experience significant demand.
• Various aspects, such as growing reproducibility and accuracy, miniaturization in the process, progressing drug discovery, clinical diagnostics, and the large gap in workforce demand and supply, have driven the growth of the market across the globe. Moreover, factors such as technological innovations leading to device miniaturization and increased throughput and rising demand for personalized medicines are significantly driving the market growth.
• However, high capital requirements for setup will be a major hindrance to the market growth.

Scope of the Report

Lab automation in bioanalysis involves the use of dedicated work-stations and software to program instruments to automate routine laboratory procedures. The extent of automation required is dependent on the nature of the task to be performed, the need for processing, and the amount of human intervention.

Key Market Trends

Robotic Arms to be the Fastest Growing Equipment Segment

• Robotic arms in lab automation are used for chemical analysis. Pharmaceutical companies are employing robots to move samples around the workspace for diagnosing chemical entities from the existing sample. Robotic arms are used for sample handling coupled with new technologies to eliminate errors.
• The pharmaceutical industry has experienced increased use of robotic arms, as the synthesizing of samples with structural analysis can be done automatically. Robotic arms are used in applications like biological & combinatorial chemistry for sample diagnosis, with automation increasing the market's standards.
• Furthermore, robotic arms also help in doing the mundane task in the laboratory set up saving time and energy of a human being doing that task. According to IFR, World Robotics 2018, sales of medical robots increased by 73% compared in 2016 to 2,931 units in 2017, accounting for a share of 2.7% of the total unit sales of professional service robots. The major reason identified for an increased sale has been the wide use in robotic surgery and laboratory automation in clinics.

North America to Hold Largest Market Share

• A rise in the number of global clinical and pre-clinical studies has made the need for speed in the analysis of samples imperative, making automation as one of the key components contributing towards the growth of the market.
• Various aspects, such as growing reproducibility & accuracy, miniaturization in the process, progressing drug discovery, clinical diagnostics, and the large gap in workforce demand and supply, have driven the growth of the market across the globe. Cost-effectiveness owing to routine work, professional labor cost and precise handling is an impacting variable in demand for these solutions.
• Strict regulations by the US government and the FDA, along with the growing demand in the diagnostic market and the increasing usage of the discovery & research labs, owing to the rising presence of various diseases such as cardiovascular diseases and neurological diseases in the region, has fuelled the growth of the market. The US dominates the North America market and is the major revenue contributor in the region.

Competitive Landscape

The lab automation in bioanalysis market is consolidated. Major players have maximum market share. Also, the players in the lab automation in bioanalysis market are increasingly competing against each other based on factors such as product innovations and technological advances.

Some of the key players include Thermo Fisher Scientific, Beckman Coulter (Danaher Corporation), Hudson Robotics, Becton Dickinson, Synchron Lab Automation, Agilent Technologies, Siemens Healthcare, Tecan Group Ltd, PerkinElmer, Bio-Rad, Roche Holding AG, Eppendorf AG, Shimadzu, and Aurora Biomed, among others.

• May 2019 - Beckman Coulter, announced latest addition to its automation portfolio, the DxA 5000 total laboratory automation solution has achieved European CE Mark and China Food and Drug Administration approval. In the healthcare environment, laboratories are highly focused on enhancing patient care by driving faster turnaround time, delivering quality results and improving laboratory operations.
  
• The DxA 5000 helps laboratories meet these challenges through a collection of patented innovations that deliver rapid and consistent turnaround time, provide a new level of comprehensive pre-analytical sample quality detection, and reduce the number of manual processing steps to significantly improve laboratory efficiency.
• September 2018 - Tecan successfully completes the acquisition of NuGEN Technologies.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Personalized Medicines
4.2.2 Technological Innovations Resulting in Improved Solutions
4.3 Market Restraints
4.3.1 High Capital Requirements For Setup
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.6 Technology Snapshot

5 MARKET SEGMENTATION
5.1 By Offering
5.1.1 Equipment
5.1.1.1 Automated Liquid Handlers
5.1.1.2 Automated Plate Handlers
5.1.1.3 Robotic Arms
5.1.1.4 AS/RS
5.1.1.5 Vision Systems
5.1.2 Software
5.2 By Analyzers
5.2.1 Biochemistry Analyzers
5.2.2 Immuno-Based Analyzers
5.2.3 Hematology Analyzers
5.2.4 Cell Counters
5.2.5 Coagulometers.
5.3 Geography

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Thermo Fisher Scientific Inc.
6.1.2 Agilent Technologies
6.1.3 Beckman Coulter Inc. (Danaher Corporation)
6.1.4 Hamilton Company
6.1.5 Hudson Robotics Inc.
6.1.6 Becton, Dickinson and Company
6.1.7 Siemens Healthineers AG
6.1.8 Tecan Group Ltd.
6.1.9 Shimadzu Corporation

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/y9unvm

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