The Lab Automation Market by Product Type (Automated Liquid Handling System, Micro plate Reader, Automated Storage and Retrieval System, Automated ELISA System, Automated Nucleic acid purification system, Robotic system, Software, and Others), by Application (Drug Discovery, Clinical Diagnostics, Genomics, Proteomics, Cell Biology, and Other Applications) By End User (Pharmaceutical and Biotechnology Companies, Diagnostics Laboratories, and Research and Academic Institutions) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 5,218.3 million in 2016 and is projected to exhibit a CAGR of 4.8% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Increasing application of the lab automation equipment in genomics for diagnostics and treatment of various diseases is propelling market growth.

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Genomics involves gene mapping and gene editing procedures, which require integrated automated workflow solution of lab automation equipment. For instance, DNA testing is emerging as noninvasive screening technique for early cancer detection, new gene editing technique such as CRISPR-Cas9 would further take genomics at new heights supported by lab automation systems. Personalized medicine for treatment of various diseases are expected to gain a significant traction in near future, which in turn is expected to drive growth of the lab automation market. Companies are offering integrated solutions to private and public research institutes. For instance, in June 2017, DiaSorin and Tecan Group announced the collaboration, under which DiaSorin will make use of Tecan's Fluent Laboratory Automation Solution as Nucleic Acid extraction platform. In January 2018, Hamilton developed a method for automating the library preparation of SOPHiA GENETICS’ CE-IVD marked hereditary cancer solution application in an advanced and flexible way through microlet automated workflow system, which reduces the challenges associated with manual sample preparation further standardizing the process and minimizing human intervention.

Browse 48 Market Data Tables and 35 Figures spread through 195 Pages and in-depth TOC on Lab Automation Market by Product Type (Automated Liquid Handling System, Micro plate Reader, Automated Storage and Retrieval System, Automated ELISA System, Automated Nucleic acid purification system, Robotic system, Software, Others), By Application (Drug Discovery, Clinical Diagnostics, Genomics, Proteomics, Cell Biology and Other Applications) By End User (Pharmaceutical And Biotechnology Companies, Diagnostics Laboratories, Research and Academic Institutions) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025

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Market players are focused on acquiring the competitors or small segments of their business in order to strengthen their position in market. For instance, Tecan Group ltd. acquired Sias AG in 2015, a company operating in modular and complete lab automation solutions, this acquisition resulted in increasing revenue and profit in first quarter of 2016. Companies are also focusing on launching new products, adding new features in existing products or integrating different automated systems to produce high quality results. For instance, Thermo Fisher Scientific presented new product Inspire in February 2018, which is vertical modular robotic platform, designed to integrate multiple instruments such as robotic system, software and microplate that streamlines workflow and speed up the operations. It also launched the Cytomat Skyline, which is microplate storage and sequential delivery device introduced to address the high throughput needs of pharmaceutical and biotechnology laboratories, such device can hold up to 728 microplates and/or lids in 14-stackers and it can provide access to this plates in just 12 seconds.

Key Takeaways of the Lab Automation Market:

The global lab automation market is expected to exhibit a CAGR of 4.8% over the forecast period (2017 – 2025), owing to high investment in drug discovery by pharmaceutical companies, increased research in genomics and proteomics, and diagnostics growth.

North America is expected to continue dominance during the forecast period (2017 - 2025), due to robust research infrastructure both in academic and commercial space and high investment by stakeholders in making labs efficient.

The market is expected to witness multiple product launches in recent years and the trend is expected to continue during the forecast period.

Mergers/acquisitions and collaborations and new product launches are major focus of leading companies in this field.

Major players operating in the global lab automation market include Tecan Group Ltd, PerkinElmer Inc., Beckman Coulter Inc., Thermo Fisher Scientific, Agilent Technologies Inc., Hamilton Robotics, Abbot Diagnostics Inc., Eppendorf Inc., QIAGEN, Roche Diagnostics Inc., and Siemens Healthineers.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.