Flexibility and Adaptability of Lab Automation System is Augmenting the Market Growth
The operational and strategic needs of labs are continually changing, evolving, and expanding. The adoption of a new laboratory automation solution utilizes a workflow analysis and offers benefits to laboratories to a large extent. A workflow study will provide lab leaders with a transparent and data-driven picture of what the laboratory is doing right now. As the demand for testing and more test types, coupled with efficient usage of advanced diagnostic devices, and increasing automation increases, the laboratory equipment for laboratory automation is rising to meet the needs. The need for flexibility and adaptability in a laboratory is driving more number of laboratories to look for solutions that will help in growing their panel selections in diagnostic systems, along with the ability to offer flexibility to third-party providers.
Bioanalysis Application is Growing Exponentially
The use of technology to streamline or substitute manual intervention of equipment and processes is known as lab automation. Technological innovations leading to device miniaturization and increased throughput, demand for replicable and accurate solutions to aid diagnostics/clinical research, and the need for efficient testing processes to off-set lack of highly skilled laboratory professionals, are the factors fuelling the growth in bioanalysis. This segment is expected to grow with the highest annual growth rate, during the forecast period. This is due to the snowballing investments and R&D activities in biotechnology and life sciences for applications in drug discovery, which propel the need for automated plate readers.
North America holds the Largest Market Share
The market landscape in North America is extremely dynamic, with a high level of merger and acquisition activities and many high-value deals. The United States is a major contributor in this region. Asia-Pacific and Latin America are the emerging regions and are expected to grow at an exponential rate, owing to factors like considerable increase in outsourcing pharmaceutical manufacturing, due to the availability of cheaper resources and labors. Stringent regulations for classification of devices imposed by the US government and the FDA, to assure safety and effectiveness, along with the growing demand in the market, is also expected to drive the market for automated plate readers.
Key Developments in the Market
• September 2017 - Agilent Technologies announced a platinum sponsorship agreement with LabCentral, a biotech innovation hub based in Cambridge, Massachusetts. As a platinum sponsor, Agilent will provide LabCentral's shared laboratory workspace with a variety of technologies.
• July 2017 - Thermo Fisher Scientific announced two innovative technologies (ISQ EC Single Quadrupole mass spectrometer, MAbPac RP 1mm columns). These are expected to increase the analytical analysis.
• June 2017 - Roche announced that it would be showcasing new solutions for lab innovation and leadership at the 22nd IFCC–EFLM European Congress of Clinical Chemistry and Laboratory Medicines (EuroMedLab) in Athens. The congress will offer the opportunity to experience Roche’s latest technological advancements in diagnostics technology and solutions, including the Roche Integrated Core Lab (ICL), first-hand.
Major Players: THERMO FISHER SCIENTIFIC, BECKMAN COULTER, HUDSON ROBOTICS, BECTON DICKINSON, SYNCHRON LAB AUTOMATION, AGILENT TECHNOLOGIES, SIEMENS HEALTHCARE, TECAN GROUP LTD, PERKINELMER, BIO-RAD, ROCHE HOLDING AG, EPPENDORF AG, SHIMADZU, and AURORA BIOMED, amongst others.
Reasons to Purchase the Report
• The flexibility and adaptability of lab automation system that will act as a driver to the global market scenario
• Analyze various perspectives of the market, with the help of Porter’s five forces analysis
• The application that is expected to dominate the market
• The regions that are expected to witness the fastest growth, during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the market estimate sheet (in excel)
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