Global Laboratory Automation Systems Market 2019-2023| Increased Vaccine Production to Drive Growth| Technavio
The global laboratory automation systems market research report by Technavio predicts the market to post a CAGR of more than 7% during the period 2019-2023.
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Technavio has released a new market research report on the global laboratory automation systems market for the period 2019-2023. (Graphic: Business Wire)
Laboratories can handle the movement of specimens across disciplines and generate results quickly with the help of fully automated laboratory automation systems. In research and pharmaceutical industries, the ability to move liquids in laboratories in a predefined volume is essential. The laboratory automated systems use contact or non-contact methodologies to offer a range of features to help control liquid dispensing. Therefore, the efficiency and effectiveness provided by these laboratory automated systems will increase their adoption during the forecast period.
As per Technavio, the increased vaccine production will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global laboratory automation systems market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global laboratory automation systems market: Increased vaccine production
In the recent past, an increase in the production of vaccines has been witnessed because of the increasing awareness of the importance of immunization. The vaccines that have been used in universal programs were effective in targeting, controlling, and eliminating illnesses. The rising awareness about vaccination, growing investments by companies, and the outbreak of several diseases have helped in boosting the production of vaccines.
“There is a requirement for a streamlined process to increase the volume of vaccine products. Therefore, the demand for laboratory automation systems has been increasing as they assist in enhancing the quality of vaccine production. The adoption of laboratory automation systems for vaccine production has increased due to the success of the early implementation of these systems in the research process,” says a seniorresearch analyst at Technavio.
Global laboratory automation systems market: Segmentation analysis
This laboratory automation systems market analysis report segments the market by end-user (pharmaceutical and biotechnology companies, clinical and reference laboratories, and academic institutes and research organizations) and geography (Asia, Europe, North America, and ROW).
The pharmaceutical and biotechnology companies segment held the largest laboratory automation systems market share in 2018, accounting for over 46% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with more than 43% of the market share, followed by Europe and Asia, respectively. North America is expected to dominate the market throughout the period 2019-2023.
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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