Kenneth Research, in its repository of market research reports, has recently added a report on Lab Automation Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Lab Automation Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lab Automation Market products.
The Final Report will cover the impact analysis of COVID-19 on this industry:
According to Market Intelligence, the Global Lab Automation Market was valued at USD 3.14 billion in 2017 and is projected to reach USD 4.64 billion by 2025, growing at a CAGR of 5.0% from 2018 to 2025.
What is Lab Automation?
Lab automation is a process that helps in developing, optimizing and capitalizing different technologies in the laboratory procedures. These system involves integration of automated lab instruments, devices and software. It helps in enhancing the speed of various laboratory processes such as vaccine production, drug discovery and many others. Lab Automation helps in examining large number of samples with minimal involvement of humans. Various benefits offered by lab automation are less time consuming, precise, flexible, minimizes repetitive injuries, reduces costs in the lab, and eliminates human error and many others. Growing usage of lab automation in various integrated health organizations boosts the growth of lab automation market.
Global Lab Automation Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Advantages of lab automation, growing geriatric population, advancing markets of drug discovery and diagnostics and funding by government for biotech and drug discovery research have been driving the global lab automation market. On the other hand, high production cost and lacking of planning strategies for technological developments might hamper the overall market at a global level.
Market Intelligence narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Lab Automation Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Lab Automation Market Competitive Landscape
The “Global Lab Automation Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Thermo Fisher Scientific, Inc., Tecan Group Ltd., Siemens Healthcare (Subsidiary of Siemens AG), Roche Holding AG, Qiagen N.V., Perkinelmer, Inc., Hamilton Robotics, Inc., Beckman Coulter, Inc., Biomérieux SA. and Agilent Technologies. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Lab Automation Market Segmentation, by Equipment and Software
- Automated Workstations
- Automated Liquid Handling Systems
- Automated Nucleic Acid Purification Systems
- Microplate Readers
- Automated Elisa Systems
- Off-the-shelf Automated Workcells
- Pre-analytical Automated Systems
- Post-analytical Automated Systems
- Total Lab Automation Systems
- Robotic Systems
- Robotic Arms
- Track Robots
- Automated Storage & Retrieval Systems (ASRS)
- Laboratory Information Management Systems (LIMS)
- Scientific Data Management Systems (SDMS)
- Electronic Laboratory Notebooks (ELN)
- Laboratory Execution Systems (LES)
Global Lab Automation Market Segmentation, by Application
- Drug Discovery
- High-throughput Screening (HTS)
- Compound Weighing And Dissolution
- Compound Management
- ADME Screening
- Other Drug Discovery Applications
- Clinical Diagnostics
- Pre-analytics/Sample Preparation
- Genomics Solutions
- Proteomics Solutions
- Microbiology Solutions
Global Lab Automation Market Segmentation, by End User
- Biotechnology and Pharmaceutical Companies
- Research and Academic Institutes
- Hospitals and Diagnostic Laboratories
Global Lab Automation Market Geographic Scope
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of the World
Research Methodology of Market Intelligence:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Name: Kenneth research
Phone: +1 313 462 0609
Mason Mount is is an energetic and versatile freelance writer for 5 years, he pens down any type of article and web content. He is a Cambridge University Business English Certificate (Europe Level) holder. He is analytical, enthusiastic, and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses.