Global Laboratory Automation Market Forecast 2021-2028
NEW YORK, Oct. 29, 2020 /PRNewswire/ --
KEY FINDINGS
The global laboratory automation market is expected to grow with a CAGR of 5.61%, over the forecast period of 2021 to 2028. The key market growth drivers include, the increase in research and development, the need for laboratory advancement, additional benefits over non-automated laboratories, and the surging investments in pharma and biotech companies.
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MARKET INSIGHTS
Laboratory automation is characterized by a multi-disciplinary approach, in terms of research, development, optimization, and capitalization on laboratory-linked technologies. It enables novel and enhanced processes, while also minimizing manual steps.
Adopting laboratory automation systems has considerably increased over recent years, owing to the benefits provided by the equipment and software.Also, they are more preferred, over manual handling processes.
For instance, automated laboratory equipment offers major advantages, such as, no manual handling, reduced processing time, increased safety, and enhanced efficiency.Added flexible options for research and development laboratories limit injuries during manual handling, in addition to eliminating human errors, increasing productivity, and reducing inventory.
As a result, the greater benefits provided by laboratory automation systems are expected to drive the demand for automated laboratories across the biotechnology and pharmaceutical industries, as well as research institutions.
REGIONAL INSIGHTS
The global laboratory automation market growth analysis includes North America, the Asia Pacific, Europe, and the rest of the world.The Asia Pacific is anticipated to be the fastest-growing region, due to factors such as, the high population base, the developing research and development sector, the growing awareness regarding advanced laboratory automation systems, and the increasing number of pharmaceutical and biopharmaceutical enterprises.
However, the unstable industrial policies in several countries may hinder the region's market growth.
COMPETITIVE INSIGHTS
The global laboratory automation market comprises numerous regional and global players, and the brand identity associated with enterprises majorly influences the market growth.Since strong brands are characterized by good performance, established companies are anticipated to have the upper hand.
Therefore, the industrial rivalry is expected to be high, owing to the firms' market penetration and the potential to provide advanced products.
Key companies operating in the market include, F Hoffman-La Roche Ltd, Becton, Dickinson and Company (CR Bard, Danaher Corporation (Beckman Coulter), Abbott Laboratories, Thermo Fisher Scientific Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. BECTON, DICKINSON AND COMPANY (CR BARD)
2. THERMO FISHER SCIENTIFIC INC
3. DANAHER CORPORATION (BECKMAN COULTER)
4. HUDSON ROBOTICS INC
5. SYNCHRON LAB AUTOMATION
6. AGILENT TECHNOLOGIES INC
7. SIEMENS HEALTHINEERS AG
8. TECAN GROUP LTD
9. PERKINELMER INC
10. F HOFFMANN-LA ROCHE LTD
11. ABBOTT LABORATORIES
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