Market Overview:
Lab Automation Market is expected to grow at a high CAGR 8.0% during the forecasting period (2022-2029).
Laboratory automation allows to develop and optimize technology in the laboratory that enable new and improved procedures. Automation is regularly visible in a huge variety of packages starting from proteomics to systems biology. Laboratory automation system consists of computerized lab devices, software program, and devices which provide blessings such as discount of cycle time, growing productivity, improvement of workflow insurance, and development of records pleasant. They provide a smooth method to lab approaches such as decapping, centrifugation, aliquoting, recapping, and sorting, amongst others.
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Market Dynamics:
The worldwide lab automation market is often pushed with the aid of increasing demand for efficiency in drug discovery and medical diagnostics, better reproducibility and accuracy, higher employees protection, and miniaturization of the procedure.
The upward push inside the number of medical and pre-medical studies everywhere in the world forces the need for pace in the evaluation of samples crucial.
According to the U.S. National library of medication, 223,153 clinical research are completed worldwide, at the same time as there are 80 pre-scientific research.
In the contemporary lifestyles sciences, data nice and validation play a sizeable position in making the felony validation of patents and medical checking out a fantastic issue. And automation enables to cover this issue as a result of its high accuracy and higher-documented statistics at the same time as presenting safety in case of hazardous material trying out.
However, excessive prices of system and coffee precedence of automation in small to medium-sized labs are restraining the boom of this marketplace. Increasing occurrence of infectious diseases will growth the number of laboratory achieved diagnostic assessments and thereby gives an opportunity for marketplace boom.
Market Segmentation:
By Product Type
- Automated Liquid Handling Systems
- Microplate readers
- Automated Storage and Retrieval Systems (ASRS)
- Automated Nucleic Acid Purification Systems
By Application
- Drug Discovery
- Clinical Discovery
- Clinical Diagnostics
- Genomics Solutions
By End User
- Pharma and Biotech Companies
- Diagnostic Laboratories
- Research Institutes and Academics Institutes
Competitive Analysis:
New product launches, expansion of facilities, mergers and acquisitions, and strategic partnerships are vital strategies adopted by most companies to contribute to the growth of the company and improve their market growth rate. The key players in the market are Thermo Fischer Scientific, Tecan Group, Siemens Health Care, Roche Holding AG, Qiagen NV, Perklinelmer Inc., Hamilton Robotics Inc., Agilent Technologies, and Beckman Coulter Inc.
On 2nd May 2018, Agilent Technologies have entered into a definitive agreement to acquire Genohm, a developer of software solutions for laboratory management. Genohm’s main laboratory software automation suite, SLIMS, gives an information management system, LIMS along with an electronic lab notebook environment, EIN which are used in bio-banks, research labs, and next-gen sequencing facilities.
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