Presence of government funding for biotech and pharmaceutical research are expected to drive the growth of the global lab automation market
The global lab automation market is projected to USD 5.48 Billion by 2021 from USD 3.92 Billion in 2016, growing at a CAGR of 6.9% from 2016 to 2021
Developing markets such as the Brazil, China, India, and Middle East are lucrative markets for lab automation, owing to increasing government and corporate funding for biotech and pharmaceutical research.
The report segments the global lab automation market by equipment and software, application, type, end user, and region. Micro plate Readers are the key playing field in the lab automation equipment and software market, owing to increasing benefits such as in research, drug discovery, bioassay validation, QC, and manufacturing for the detection of biological, chemical, or physical processes in samples contained in micro titer plates.
Drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, and other applications (bio banking and cell biology solutions) are major application segments of lab automation market. In 2016, the drug discovery application segment is expected to account for the largest share of the global lab automation market. The need for high-/ultra-high-throughput screening and reduced time-to-market for drugs are the major drivers for the growth of the drug discovery segment.
On the basis of type, the lab automation market is segmented into modular automation, and total lab automation. The modular automation segment is expected to account for the largest share of the lab automation market in 2016. The ability to automate user-specific tasks, better affordability than TLA, and easy integration through robotics for future automation requirements are driving the growth of this segment.
Biotechnology and pharmaceutical industries are the major end user of the lab automation market, followed by research institutes. The large share of this segment can be attributed to increase demand of the biopharmaceuticals.
New and innovative product launches was the dominant strategy adopted by key industry participants to increase their market share and cater to unmet needs.
The deviations and overlap of revenue between applications and products in a number of sources was the major challenge faced while estimating market size. This challenge was overcome by validating data through a large number of industry experts and key opinion leaders.
From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and sub-segments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and threats), winning imperatives, and burning issues. The report also offers market sizes and data on the growth of various segments in the industry. It focuses on emerging and high-growth segments, high-growth regions, and initiatives of governments. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the lab automation market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analysis—industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the lab automation market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on products offered by the top players in the lab automation market
- Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the lab automation market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for lab automation products across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the lab automation market
- Competitive Assessment: In-depth assessment of market ranking, strategies, products, and manufacturing capabilities of the leading players in the lab automation market