The lab automation market is projected to reach $ 5.20 billion by 2022 from USD 4.06 billion in 2017, at a CAGR of 5.1%. Factors such as process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large scale workforce demand and supply gap are the growth of this market. In addition, lab automation offers enhanced productivity and reduced costs, improved personnel safety, and small volumes of samples and reagents. However, high cost is limiting the automation of small and medium-sized labs which is likely to restrict the market growth.
The report analysis the lab automation market by equipment and software, application, end user, and region.
Based on equipment and software, the market is segmented into automated workstations, off-the-shelf workcells, robotic systems, automated storage and retrieval systems, software, and other equipment. In 2017, the automated workstation segment is expected to account for the largest share of the automation market. The high demand for automation in liquid handling is the key factor driving market growth in this segment. Automated workstations offer advantages such as enhanced accuracy and reduced time and cost.
Based on end user, the lab automation market is segmented into pharmaceutical and biotechnology companies, hospitals and diagnostic labs, and research and academic institute. In 2017, the biotechnology & pharmaceutical companies segment is expected to account for the largest share of the automation market. Factors such as increasing product intricacy, pricing pressure, high costs incurred by errors, and requirements for quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate the drug discovery process.
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Based on region, the automation market is segmented into North America, Europe, Asia Pacific, and RoW. In 2017, North America is projected to account for the largest share of the global lab automation market. R & D labs in this region, and laboratory automation adoption by hospitals and clinical diagnostic labs due to increase in the volume of tests ,
However, the high cost of equipment and low priority of automation in small-to-medium sized labs is restraining the growth of this market.
In 2017, Tecan (Switzerland) is expected to dominate the lab automation market. PerkinElmer (US), Danaher (Beckman Coulter & Molecular Devices) (US), Thermo Fisher (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Diagnostics (US) , Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).