Global lab automation market estimated to grow at a CAGR of 6.4% by 2017
Dallas, Texas (PRWEB) June 11, 2013
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Laboratory automation is defined as the use of technology to streamline or substitute manual manipulation of equipment and processes. Laboratory automation offers technologies and engineering backing for state-of-the-art work flows in research, quality assurance, and diagnostics labs. Lab automation techniques are broadly finding applications in a majority of lab procedures – from simple capping and decapping of sample bottles to high throughput screening of test samples.
The global lab automation market was valued at $3.1 billion in 2012 and is poised to reach $4.2 billion by 2017 at a CAGR of 6.4%. The growth of the lab automation market is driven by miniaturization of the process, leading to reduction in overall costs, higher reproducibility and accuracy, increasing investments in biotechnology, large lab personnel demand and supply gap, and reduction in sample contamination risk. It is expected that the market will offer opportunities for lab automation solutions manufacturers with the introduction and adoption of upcoming technologies such as digital dispensing, semantic technology and merger of Lab-on-a-chip (LOC) technology with lab automation systems. However, factors such as indefinite data interchange standards, economic slowdown, and lacks of technology planning are hindering the growth of the market. To deal with the varying demand, vendors of lab automation equipment offer a range of products and services. However, configuring components that permits maximum flexibility is a challenge.
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North America accounted for the largest market share of the lab automation market, followed by Europe, in 2012. However, Asian, Pacific and Latin American countries represent emerging markets, owing to a rise in research outsourcing by pharmaceutical giants, rise in biotechnology sector investment, and growing industry demand for standardization and accreditation. The major players in the lab automation market are Tecan Group, Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Danaher (U.S.), Agilent Technologies (U.S.), and Hamilton Robotics (U.S.).
Reasons For Doing The Study
Laboratory Automation Is Included Within A Large Number Of Scientific Disciplines. Clinical Diagnostics, Drug Discovery, Food And Agricultural Research, And Forensics Have Been Heavily Impacted By The Rise Of Automated Laboratory Systems. With The 2008 Creation Of The Institute Of Laboratory Automation And The 2010 Establishment Of The Society For Laboratory Automation And Screening, Laboratory Automation Is Quickly Defining Itself As A Specific Part Of The Laboratory Industry In The U.S. There Is A Vital Need To Reduce Laboratory Operating Costs Due To Budget Pressures Throughout The Laboratory Industry And New Applications Of Laboratory Automation Technology Coming On Board, So A Great And Broad-Based Demand For Laboratory Automation Products Will Be Evident During The Next Decade.
Scope Of Report
A Particular Focus Will Be Placed On The Biotechnology, Pharmaceutical, Clinical Diagnostics And Academic Science Industries, As Demand For Laboratory Automation Is Strongest In These Fields. Academic Science Is Unique, As It Entails Both Users Of Laboratory Automation And Creators Of New Uses For Laboratory Automation Through The Dissemination Of New Techniques And Ideas Through Research. Staffing Shortages Throughout The Clinical Diagnostics Industry Have Driven The Demand For More Automation To Reduce Staffing Demands. New Applications Developed By Both Industry And Academia, Along With The Demand For New Drugs And Clinical Diagnostics, Are Noted Drivers Of Demand In The Clinical Diagnostics, Biotechnology And Pharmaceutical Industries.
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