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Key Insights on the Global Lab Bioanalysis Automation Market | Technavio

Technavio Research
Posted on: 22 Nov 17

The latest market research report by Technavio on the global lab bioanalysis automation marketpredicts a CAGR of around 8% during the period 2017-2021.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005313/en/

Technavio has published a new report on the global lab bioanalysis automation market from 2017-2021. (Graphic: Business Wire)

The report segments the global lab bioanalysis automation market by product (automated liquid handling systems, microplate readers, and standalone robots) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global lab bioanalysis automation market, according to Technavio researchers:

  • Increasing use of automation in healthcare industry: a major market driver
  • In terms of revenue, automated liquid handling systems was the biggest contributor to the market
  • The Americas was the highest revenue contributor to the global lab bioanalysis automation market with more than 48% share in 2016
  • Agilent Technologies, Beckman Coulter, F. Hoffmann-La Roche, and Thermo Fisher Scientific are the leading players in the market

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Market growth analysis

Increasing use of automation in the healthcare industry is one of the major factors driving the global lab bioanalysis automation market. With the healthcare industry continually looking at cost-cutting and improvements in efficiency and throughput, automation of manual tasks can be an important part of the strategy for performance improvement.

The sheer volume of samples in hospitals is huge as this contains routine check-up samples as well as those referred for specific diagnosis. With increasing population and a rise in the number of diseases, efficient procedures that are supported by laboratory automation products would be required throughout the forecast period, translating to market growth.

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Geographical analysis

Technavio researchers anticipate high growth for the global lab bioanalysis automation market in the Americas as there is excellent technology and infrastructure support throughout the region. It is also home to some of the key companies in the market such as Agilent Technologies, Beckman Coulter, and Thermo Fisher Scientific. The US and Canada are the largest revenue contributing countries in the region. In the US, hospitals and diagnostic centers are extensively using laboratory automation products for bioanalysis.

According to Tasneem Ali, a lead analyst at Technavio for research onlab equipment, "The region will experience steady growth throughout the forecast period as the demand for laboratory automation products will be high, especially from pharmaceutical and healthcare companies. These companies are constantly focusing on launching new medicines or therapies for various diseases such as cancer, diabetes, and cardiovascular disorders."

Competitive vendor landscape

The global lab bioanalysis automation market is oligopolistic in nature with four key players Agilent Technologies, Beckman Coulter, F. Hoffmann-La Roche, and Thermo Fisher Scientific dominating the market. These companies compete in terms of product innovation and technological advances with emphasis on developing fruitful distribution partnerships to sell their respective products across the globe. They also place emphasis on R&D and are constantly looking to enhance their respective product portfolios by launching new products and attracting new end-users at trade conferences.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171122005313/en/

Business Wire
www.businesswire.com

Last updated on: 22/11/2017

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