(EMAILWIRE.COM, January 12, 2019 ) The lab automation market is expected to reach USD 5.20 billion by 2022 from an estimated USD 4.06 billion in 2017, at a CAGR of 5.1%. Factors such as process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher re producibility and accuracy, and large workforce demand and supply gap are likely to drive the growth of this market.
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The lab automation market is segmented into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology, and other applications. The genomics solutions segment is expected to grow at the highest CAGR during the forecast period. The rising need for high-throughput genomics in research labs and increase in genetic testing in diagnostic labs along, with better accuracy and reproducibility is contributing to the growth of lab automation solutions in genomics.
4 Premium Insights
4.1 Lab Automation Market Overview
4.2 Europe Lab Automation Market: By Application and Countries
4.3 Global Lab Automation Market: Geographic Mix
4.4 Global Lab Automation Market: Developing vs Developed Regions
4.5 Global Lab Automation Market: Geographic Snapshot
5 Market Overview
5.1 Introduction
5.2 Lab Automation Standards
5.3 Technological Evolution in Lab Automation
5.3.1 History of Lab Automation
5.3.2 Present Scenario of Lab Automation
5.3.3 Future Directions
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Benefits of Lab Automation
5.4.1.2 Rising Geriatric Population
5.4.1.3 Miniaturization of Processes
5.4.1.4 Progressing Markets of Drug Discovery and Diagnostics
5.4.1.5 Government Funding for Biotech and Drug Discovery Research
5.4.2 Restraints
5.4.2.1 Low Priority for Lab Automation Among Small and Medium-Sized Laboratories
5.4.3 Opportunities
5.4.3.1 Emerging Markets Provide an Array of Opportunities to Market Players
5.4.3.2 Wide Scope and Increasing Adoption in Microbiology
5.4.3.3 Biobanking Applications
5.4.4 Challenges
5.4.4.1 Lack of Integration
Click Here For More Information on Lab Automation Market at with Top Trends and Company Profiles at http://www.whatech.com/market-research/medical/543284-lab-automation-market-us-5-20-billion-by-2024-growing-at-5-1-cagr-illuminated-by-new-report .
The report analyzes the lab automation market and aims at estimating the market size and future growth potential of this market based on various aspects such as equipment and software, application, end user, and region. The report also includes an in-depth market trend analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Lab automation market is segmented into automated workstations, off-the-shelf work cells, robotic systems, automated storage and retrieval system, software, & equipment. Software segment is expected to witness highest growth during forecast period. Growth of this segment can be attributed to the rising need for efficient data storage, analysis, and sharing methods.
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The APAC region is expected to register the highest CAGR during the forecast period. A growing economy, increasing healthcare investments which lead to increased research activities and adoption of automated systems in clinical diagnostics and drug discovery, large population pool, improving public health awareness, and the rising demand for standardization and accreditation in laboratory practices are key market drivers in Asia Pacific. Process automation, miniaturization, and incorporation of robotics in lab automation workflows and the expansion of product distribution networks in APAC are the ongoing trends in the global lab automation market.
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