Dublin, Dec. 10, 2020 (GLOBE NEWSWIRE) — The “Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End-User (Pharma, Diagnolab, Forensics, Environmental) – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The lab automation market is projected to reach USD 5.5 billion by 2025 from an estimated USD 4.3 billion in 2020, at a CAGR of 5.2% during the forecast period.
The growth of the market is attributed to increasing spending on pharmaceutical R&D, growing food safety concerns, stringent regulation in healthcare. Moreover, the growing proteomics market, rising environmental safety concerns, and high demand in emerging nations offer lucrative opportunities for the market players.
However, slow adoption of automation among small and medium-sized laboratories owing to the budget constraint are the major factors that are expected to restrain the growth of this market during the forecast period.
“The software, by product type, is expected to be the fastest-growing market from 2020 to 2025.”
The software segment is categorized as LIMS, ELN, LES, and SDMS.LIMS is the fast-growing software during the forecast period. The growth is attributed to the ability of the systems to increase workflow efficiencies by removing manual data entry and transcription errors. Thus, improving work processes, productivity, traceability, sample turnaround time, data security and accountability, ease of access to data, and regulatory compliance.
“The biotechnology and pharmaceutical companies, by end user, is expected to be the largest market from 2020 to 2025.”
The biotechnology and pharmaceutical companies segment is expected to grow at the fastest rate during the forecast period. Owing to the increasing pressure on the biotechnology and pharmaceutical companies to rapidly develop drugs has driven demand for automating laboratory processes in this end-user segment. Moreover, the availability of government and corporate funding for biotech and pharma research is also driving the growth of this industry
“North America: The largest and the third fastest-growing region in the lab automation market.”
North America is expected to dominate the global lab automation market between 2020 and 2025. Increasing diagnostic testing in the region due to the higher penetration of healthcare facilities and growing health awareness. With an increasingly aging population and the rising prevalence of lifestyle diseases, there has been a significant rise in the demand for diagnostics and therapeutics.
The lab automation market is dominated by a few major players that have an extensive regional presence. The leading players in the lab automation market are Thermo Fisher Scientific (US), Agilent Technologies (US),Tecan Group (Switzerland),PerkinElmer Inc. (US) and Danaher Corporation (US).
Market Dynamics
Drivers
- Increased R&D Investments in Pharmaceutical Industries
- Growing Demand for Process Automation for Food Safety
- Standardization of Workflows
- Stringent Regulatory Control in the Healthcare Industry
Restraints
- Slow Adoption of Automation Among Small and Medium-Sized Laboratories
- Long Gestation Period for Workflow Implementation
Opportunities
- Improving Healthcare Infrastructure Across Emerging Countries
- Growth of the Pharmaceutical and Biotechnology Industries
- Integration of Ai and Analytical Tools in Laboratory Workflows
Challenges
- Limited Feasibility with Technology Integration in Analytical Labs
Key Trends
- Growing Adoption of High-Throughput Solutions
- Industry-Academia Collaborations
Ecosystem Coverage
Impact of COVID-19 on the Lab Automation Market
Companies Mentioned
- Abbott
- Agilent Technologies
- Aurora Biomed
- Becton, Dickinson and Company
- Biomerieux
- BMG Labtech
- Danaher Corporation
- Endress+Hauser Group
- Eppendorf Ag
- F. Hoffmann-La Roche Ltd
- Formulatrix
- Gilson Inc.
- Hamilton Company
- Hudson Robotics
- Peak Analysis & Automation
- Perkinelmer
- Siemens Healthineers
- Tecan Group
- Thermo Fisher Scientific
- Waters Corporation
For more information about this report visit https://www.researchandmarkets.com/r/maxbpe
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