Lab Automation Market to Witness a Pronounce Growth by 2026embed
The Global Lab Automation Market was valued at US$ 5,218.3 million in 2016 and is expected to witness a CAGR of 4.8% over the forecast period (2017 – 2025).
Lab Automation Market to Witness a Pronounce Growth by 2026 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 - Global Trends, and Forecast to 2025 Lab automation systems incorporates use of high end equipment’s and software into various laboratory procedure such as sample preparation with reagent mixing, pipetting out sample, performing sample analysis for characterization of the compound in the sample, sensitive lab ware movement, liquid dispensing assay performance, and cell culture preparation. Lab automation systems provides advantage such as precision in operations, saving time by performing batch operations, and accuracy of data due to minimizing human error. It also prevents sample wastage (in case sample having very low yield). Increasing applications of lab automation in research laboratory is creating potential opportunity for growth of the market. The Global Lab Automation Market was valued at US$ 5,218.3 million in 2016 and is expected to witness a CAGR of 4.8% over the forecast period (2017 – 2025). Market Dynamics Major factor driving growth of the lab automation market include the need for accurate diagnosis in less time with minimum error. For instance, ELISA test is utilized in diagnosis of diseases such as Zika, AIDS, rotavirus, syphilis, and chickenpox. These diseases has high prevalence worldwide and frequent outbreaks of the same as infectious disease may promote use of automated ELISA systems. Increasing use of the DNA sample in diagnostics with tedious procedure involved in it is expected to propel growth of the lab automation market. Pharmaceutical companies worldwide are involved in genomics research, there is increasing research spending and collaboration with genomics firms by pharmaceutical and biotechnological companies in which lab automation will play crucial role. In April 2016, AstraZeneca launched project to sequence genome of over 2 million people by collaborating with biotech firm Human Longetivity, Inc., and other academic institutions. In March 2015, Genomics England announced to partner with 10 pharmaceutical and biotechnological companies to develop new diagnostics and treatments for cancer patient and rare disease, using the genomic sequences gathered through the 100,000 Genomes Project. Ask For Sample Copy Of This Business Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1334 Research and development conducted by pharmaceutical and biotech companies is fueling growth of the global lab automation market Integration of the lab automation system reduces the time required for preclinical studies by lead molecule failure due to precision in procedure. Steps involved in drug development such as screening and lead optimization, sample assay development, and ADME (Absorption, Distribution, Metabolism and Excretion)-toxicological studies majorly require lab automation equipment. For instance, assay development can be performed in real-time for large volume of new drug samples with the help of micrometer plate. Furthermore, high throughput screening of ADME samples can be performed with liquid handling system through automated cell permeability, drug solubility, in vitro drug metabolism, protein binding studies, and compound characterization procedures. Detailed Segmentation: •Global Lab Automation Market, By Product Type: •Automated Liquid Handling System •Microplate Reader •Automated Storage And Retrieval System •Automated ELISA System •Automated Nucleic Acid Purification System •Robotic Systems •Software •Others •Global Lab Automation Market, By Application: •Drug Discovery •Clinical Diagnostics •Genomics Solutions •Proteomics Solutions •Cell Biology •Others •Global Lab Automation Market, By End User: •Pharmaceutical and Biotech Companies •Diagnostics Laboratories •Research and Academic Institutes Increasing research and development in personalized medicine to drive growth of the lab automation market Lab automation market is expected to gain significant traction in near future due to advancements in personalized medicine by utilizing tools of genome engineering. For instance, immuno-oncology utilizes CAR-T cell therapy for isolation of T cells from patients, which then genetically engineered to produce receptors on their surface called chimeric antigen receptors and such cells are multiplied by in vitro methods. Most of the steps involved in this procedure require lab automation equipment. For instance, automated liquid handling system would boost the assay and sample preparation of CAR-T cells, automated storage and retrieval system helps in efficient preservation and storage of original and multiplied T cells, which are to be administered in patient’s body. Competitive Analysis Key companies covered as a part of this study include Tecan Group Ltd., PerkinElmer Inc., BeckmannCoulter Inc., Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Hamilton Robotics, Abbot Diagnostics Inc., Eppendorf, Roche Diagnostics, and Siemens Healthineers. 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