The global laboratory automation market is projected to grow at a CAGR of 5.87% to reach US$18.191 billion by 2024, from US$12.922 billion in 2018. Growing awareness regarding the advantages of laboratory automation coupled with technological advancement being made in the field is some of the major factors driving the demand for these automation solutions. In addition, growing funds by government and private funding to make advancement in the field of biotechnology and drug discovery will further boost the demand for these solutions. However, the slow adoption of this equipment in among SMEs will hinder the growing demand for these automation solutions. Developing regions such as the Asia Pacific and South America presents a novel business opportunity for this market over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global laboratory automation value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the global laboratory automation market.
Major industry players profiled as part of the report are Synchron Laboratory automation, Hudson Robotics, F. Hoffmann- La Roche AG, Scienion AG, Tecan Trading AG, Thermo Fisher Scientific, and COPAN ITALIA spa among others.
The global laboratory automation market has been analyzed through the following segments:
Reagents and Consumables
By End User
Research and Academic Institutes
Biotechnology and Pharmaceutical Companies
Hospitals and Diagnostic Laboratories
Middle East and Africa