Expansion sought after for computerized research facilities across topographies with ascend in notoriety of lab computerization gear significantly drives the market development.
Expansion sought after for computerized research facilities across topographies with ascend in notoriety of lab computerization gear significantly drives the market development.
The global Laboratory Automation Market garnered $4.88 billion in 2018, and is expected to reach $8.42 billion by 2026, growing at a CAGR of 6.9% from 2019 to 2026.
Increase in research & development activities around the globe and increase in implementation in various applications propel the growth of the global laboratory automation market. However, high initial costs related to investment for building automated products restrain the market growth. Contrarily, increase in miniaturized process equipment demand and technological advancements offer numerous opportunities in coming years.
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COVID-19 scenario:
- The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
- The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
- However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
The equipment segment to maintain its dominant share during the forecast period
On the basis of product, the equipment segment accounted for more than five-sixths of the total market share in terms of revenue in 2018, and is projected to maintain its lion’s share during the forecast period. Moreover, this segment would grow at the largest CAGR of 7.2% from 2019 to 2026. This is attributed to increase lab automation equipment adoption for drug discovery & diagnostic purposes, less production fluctuations, and increase in demand for miniaturized process equipment. The report also discusses the software and informatics segment.
The clinical diagnostics segment to maintain its dominance throughout the forecast period
By application, the global laboratory automation market is categorized into drug discovery, clinical diagnostics, genomics solutions, and proteomics solutions. Presently, the drug discovery segment dominating the global market due to increase in adoption of lab automation equipment in drug discovery laboratories, surge in number of R&D activities for new drug development, and rise in demand for miniaturize process equipment in drug discovery laboratories drives the segment growth.
North America to maintain its lion’s share during the forecast period
Based on region, North America represented the most elevated offer, holding more than two-fifths of the worldwide research facility robotization market in 2018, and is relied upon to keep up with the vast majority during the estimate time frame. This is because of quality of very much created medical care framework, reception of research facility mechanization frameworks, and presence of prepared clinical experts. In any case, Asia-Pacific is relied upon to keep up with the most noteworthy CAGR of 8.3% from 2019 to 2026, attributable to progress in medical services foundation, flood in number of clinics furnished with cutting edge clinical offices, and the presence of creating Research and development area.
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The Major Key Players Are:
- Agilent Technologies, Inc.
- BioMerieux SA
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Hamilton Robotics
- PerkinElmer, Inc.
- Qiagen N.V.
- Siemens AG
- Tecan Group Ltd.
- Thermo Fisher Scientific Inc.
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