Lab Automation Market size likely to exhibit 9.6% CAGR through 2027 | Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc, Thermo Fisher Scientific, Inc
Future Market Insights offers a 10-year forecast on the lab automation market between 2017 and 2027. In terms of value, the lab automation market is expected to register a CAGR of 9.6% during forecast period. This lab automation market study demonstrates the global market dynamics and trends across various regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Middle East & Africa, and Japan, which influence the current nature and future status of the lab automation market over the forecast period.
Lab Automation Market: Report Description
This research report provides a detailed analysis of the lab automation market, and offers insights on various factors. This lab automation market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The stakeholders in this lab automation market include healthcare automation providers, hospitals, pharmacies, and clinics. The lab automation report segregates the market based on component: devices and software; application, and end users across different regions, worldwide.
The increasing demand for technically advanced automated lab devices and platforms in various verticals such as biochemistry, hematology, microbiology, immunology, and molecular biology, for improved and accurate diagnosis, is anticipated to drive the growth of the lab automation market over the forecast period. Advancements in lab automation allow process standardization, which, in turn, decreases the frequency of outliers and errors, and is a key factor expected to propel the growth of the lab automation market.
The report starts with an overview of the global lab automations market in terms of value. In addition, this section includes the analysis of key trends, drivers, and restraints that are influencing the lab automation market. An impact analysis of key growth drivers and restraints is included in the lab automations market report to facilitate clients with crystal-clear decision-making insights.
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The global lab automation market is categorized on the basis of component, application, end user, and region. On the basis of component, the lab automation market is segmented into devices and software. Further, the devices segment has been segmented into six categories – biochemistry devices, molecular devices, hematology devices, immunology devices, microbiology devices, and others. The software segment is bifurcated into two segments scheduling software and momentum integration software.
On the basis of application, the lab automation market is segmented into life sciences research & development, drug-discovery, and diagnostics. In terms of revenue share, the life sciences R&D segment dominated the global lab automation market in 2017, and is expected to do so throughout the forecast period. The diagnostics application segment is anticipated to expand at the fastest CAGR over the forecast period.
On the basis of end user, the global lab automation market is segmented into pharmaceutical companies, hospitals and diagnostic centers, educational institutions, contract research organizations (CROs), and research institutes. The hospitals and diagnostic centers segment currently accounts for the highest revenue in the lab automation market, due to the increasing usage of automation devices in hospitals and diagnostic centers in developed countries.
The next section highlights a detailed analysis of the lab automation market across various countries in different regions. It provides a market outlook for 2017–2027, and sets the forecast within the context of the lab automation market to include the latest technological developments as well as service offerings in the market. This lab automation market study discusses key trends within countries contributing to the growth of the lab automation market, as well as analyses degrees at which the drivers are influencing this market in each region. Key regions and countries assessed in the lab automation report include North America (U.S. and Canada), Latin America (Brazil, Mexico, Argentina and the Rest of Latin America), Western Europe (Germany, UK, France, Italy, Spain, Nordic, and the Rest of Europe), Eastern Europe (Russia, Poland, and the Rest of Eastern Europe), APEJ (India, China, ASEAN, Australia and New Zealand, and the Rest of APEJ), Japan, and MEA (South Africa, GCC Countries, and Rest of MEA).
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The report evaluates the present scenario and growth prospects of the lab automation market across various regions, globally, for the period 2017–2027. We have considered 2016 as the base year, and provided data for the remaining 12 months. The forecast presented in the lab automation market report assesses the total revenue by value across the market. To offer an accurate forecast, we started by sizing the current lab automation market, which forms the basis of how the lab automation market will develop in the future. Given the characteristics of the lab automation market, we have triangulated the outcome of the analysis of different types and verticals based on technology trends.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the lab automation market, and to identify the right opportunities across the market.
In the final section of the lab automation market report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the lab automation portfolio, and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a market segment in the lab automation value chain, as well as the potential players for the same. Audiences of the lab automation market report can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the marketplace. Detailed profiles of lab automation providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in the lab automation space. Some of the key competitors covered in the lab automation market are Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcriptic, Inc.
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