Lab Automation Market Worth $5,105.7 Million by 2020
DALLAS, April 30, 2015 /PRNewswire/ --
According to a new market research report "Lab Automation Market by Equipment & Software (Robotic Arm, Microplate Readers, LIMS), Applications (Drug Discovery, Clinical Diagnostics), Type of Automation (Modular, Total Lab), & End Users (Biotechnology & Pharmaceuticals) - Global Forecasts to 2020", published by MarketsandMarkets, the global Lab Automation Market is poised to reach $5,105.7 Million by 2020 from $3,474.2 Million in 2014, at a CAGR of 6.7% from 2015 to 2020.
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Factors such as miniaturization in the process, progressing drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large gap in workforce demand and supply are driving the growth of this market. Greater productivity and reduction in costs, better personnel safety, and requirement of small volumes of samples and reagents are further driving the growth of the Lab Automation Market from the demand side. However, lack of planning for technology development and indefinite data interchange are restricting the market growth.
Furthermore, the emerging markets of China, India, Brazil, Australia, and Middle East; increasing base of aging population, wide scope and emerging adoption in microbiology; growing automation needs in various segments; and biobanking applications present significant growth opportunities for market players.
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The Lab Automation Market is segmented on the basis of equipment and software, application, type of automation, end user, and region. On the basis of equipment and software, the Lab Automation Market is segmented into six categories, namely, automated liquid handling, microplate readers, standalone robots, automated storage and retrieval systems (ASRS), software & informatics, and others (barcode readers, weighing platforms, microplate coolers, and tube recognition devices). In 2014, the automated liquid handling segment accounted for the largest share of the lab automation market, by equipment and software, as liquid handling is a major constituent for automation.
On the basis of application, the Lab Automation Market is classified into clinical diagnostics, drug discovery, genomics solutions, and proteomics solutions. Drug discovery is a major application area of the lab automation market.
Based on end user, the lab automation is categorized into biotechnology and pharmaceuticals, hospitals and private labs, academics, and research institutes. The research institutes segment is the fastest-growing segment of the lab automation end-users market.
On the basis of geography, the Lab Automation Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2014, North America accounted for the largest share of the lab automation market, followed by Europe. However, Asia-Pacific is expected to register a higher growth rate during the forecast period owing to huge investment opportunities in this region. The growth of the Lab Automation Market in the Asia-Pacific region will be centered at China, Japan, and India.
Major players operating in this market include Tecan Group Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Danaher (Beckman Coulter & Molecular Devices) (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Hamilton Robotics (U.S.), Abbot Diagnostics (U.S.), Aurora Biomed (Canada), BioTek Instruments, Inc. (U.S.), BMG LABTECH GmbH (Germany), Eppendorf (Germany), Hudson Robotics (U.S.), Qiagen (Germany), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).
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