Lab Automation Market – Rising Market for Genomics Driving Market Growth

What This Report Will Provide?

This study involved four major activities in estimating the current size of the lab automation market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

The global lab automation market size is projected to grow from an estimated USD 4.3 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 5.2%

Major Growth Boosters:

Market growth is driven largely by factors, such as increasing expenditure on research & development by pharmaceutical companies, and Strict regulation for healthcare. The improving healthcare infrastructure across emerging countries, and growth of the pharmaceutical and biotechnology industries are expected to present avenues of growth for market players.

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Recent Developments:

In February 2020, Thermo Fisher Scientific, Inc.  Launched Rapid EZ DNA-Seq library preparation kit, offering PCR-free generation of sequencing-ready libraries for NGS

In July 2020, Danaher Corporation(Beckman Coulter, Inc.) entered into a marketing agreement with Clever Culture Systems (CCS), a leader in microbiology automation using AI, to promote the APAS Independence in their suite of lab automation solutions

In July 2019, Agilent Technologies, Inc. acquired BioTek Instruments (US to enhance Agilent’s portfolio with BioTek’s life science instrumentation and provide integrated solutions to customers in the fast-growing area of live-cell analysis

Key Market Driver: Increased R&D Investment in Pharmaceuticals Industries:

Pharmaceutical and biotechnology companies are making significant investments in research to meet the growing needs of the healthcare sector. For instance, According to the India Brand Equity Foundation (IBEF), pharmaceutical companies such as Sun Pharmaceuticals, Cipla, and Lupin Ltd. invested 8.8% of their sales in R&D in FY 2018.Moreover,collaborations between pharma companies and healthcare stakeholders for R&D into therapeutics will also stimulate the use of lab automation., hence exceeding the production levels this will likely to drive the demand of Lab Automation market.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global lab automation market?
2. What are the drivers, restraints, opportunities, and challenges in the lab automation Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of lab automation in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Regional Growth Analysis:

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the major regions considered for the study of the Lab Automation market. North America is expected to dominate the market during the forecast period. Owing to the presence of large pharmaceutical companies, increasing investment in drug discovery and genomics market. This is expected to drive market growth for lab automation industry.

Leading Players:

The major players in the global Lab Automation market Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc, (US) Agilent Technologies (US), Danaher Corporation (US), F. Hoffmann-La Roche Ltd. (Switzerland), and Tecan Group Ltd. (Switzerland).