Lab Automation Market Size, Share, Growth, Emerging Trends, Top 10 Players and Industry Outlook

This report aims to provide detailed insights
into the global
lab
automation market
. It provides valuable information on
the type, procedure, application, and region in the market. Furthermore, the
information for these segments, by region, is also presented in this report.
Leading players in the market are profiled to study their product offerings and
understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:

The lab automation market size will grow to USD 5.5 billion by 2025 from USD 4.3 billion in
2020, at a CAGR of 5.2% during the forecast period.

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Key Factors Driving Market Growth:

The Increasing spending on pharmaceutical R&D, growing food safety
concerns, standardization of workflows, stringent regulatory control in the
healthcare industry are fuelling the growth of the market. Moreover, high
demand in the emerging nation and the growth of the pharmaceutical and
biotechnology industries are some of the other major factors driving the growth
of this market.

The Automated Workstations segment is expected to dominate the lab
automation market, by product type, during the forecast period.

Automated workstations are compact & standalone, capable of conducting
a particular task unattended. Owing to the easy integration with both existing
and upcoming systems are favorable options for customers looking to introduce
automation in their labs. The Automated workstations is further segmented to
automated liquid handling systems, microplate reader, automated Elisa system,
automated nucleic acid purification systems. The automated liquid handling
system are growing at the highest CAGR. Owing to an increase in the number of
tests carried out in pharmaceutical labs for screening compounds, optimizing
leads, determining drug properties with absorption, distribution, metabolism,
and excretion (ADME), and toxicity has favored the argument for automation.

The drug discovery is expected to be the fastest-growing lab automation
market, by application, during the forecast period.

The drug discovery, by application, laboratory automation market is
estimated to grow at the fastest rate during the forecast period. This is
mainly because of the increasing industry-academia collaboration for the
development and use of fully automated, ultrahigh-throughput systems. Moreover,
investments in automation permit the safer generation of data with improved
accuracy, precision, reproducibility, and traceability, allowing drug discovery
scientists to utilize higher–quality data in the hypothesis–driven research
required to discover new medicines. Thus, growing the market of drug discovery
segment.

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North America likely
to emerge as the largest lab automation market

In this report, the laboratory automation market has been analyzed for four
regions, namely, North
America
EuropeAsia PacificLatin America,
and Middle East & Africa. Growth in
the North American market is also supported by the demand for the integration
of laboratory systems, rising government funding for research, growth in
biobanks, need for early drug discovery, and stringent regulatory requirements.
Thus, North America dominated
the market during the forecasted period.

To enable an in-depth understanding of the competitive landscape, the report
includes the profiles of some of the top players in the market.

Some of the key players are Thermo Fisher Scientific, Inc. (US), PerkinElmer
Inc,(US) Agilent Technologies (US), Danaher Corporation (US), F. Hoffmann-La
Roche Ltd. (Switzerland),
Danaher Corporation (US), and Tecan Group Ltd. (Switzerland).The leading players are adopting
various strategies to increase their share in the lab automation market.

Contact:

Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Source :https://pressreleasebox.com/pr/lab-automation-market-size-share-growth-emerging-trends-top-10-players-and-industry-outlook

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