Lab Automation Global Market – Forecast to 2020
DUBLIN, Sept. 8, 2014 /PRNewswire/ — Research and Markets has announced the addition of the “Lab Automation Global Market – Forecast to 2020” report to their offering.
Laboratory automation involves the process, technology, device and software which enable automated workflow process in the laboratories and thus reduce manual steps and errors. Lab automation incorporates both hardware (devices) and software. Hardware Automation involves either total automation system (TLA) where all the devices are integrated or modular automation where certain devices in the workflow are automated.
The wide applications of the Lab Automation include clinical diagnostic laboratories, drug discovery laboratories, government and academic research laboratories involving food, agriculture and medicine. Lab automation procedure not only helps in saving time but also helps in improving quality and efficiency of the work process.
The laboratory automation market is expected to grow at a CAGR rate of around 7.0%from 2014 to 2019. The factors that contributes for the market growth include rise in diagnosis owing to work pressure, shortage of quality lab technicians, accuracy of the results, budget constraints for laboratories, time delay and labor cost. However the changes in reimbursement policies, high cost of equipment, affordability by small players, users shift from traditional procedures to automation are hampering the growth of the market.
Although, lack of flexibility and adoptability in the existing lab automated systems pose a threat for the market, there is a big need for the market to grow as latest diagnostic technologies demand for new and sophisticated automated systems in the coming years. New market segments such as automation options in microbiology and hematology are providing more opportunities for the market growth.
North America holds the largest market share of laboratory automation process followed by Europe, Asia and rest of the world. U.S. tops the chart due to its aging population, high diagnosis rate, and large volume of test samples compelling the clinical diagnostic laboratories to shift for automation process. The emerging economies are the fastest growing in the market because of its growing economy, rising health care awareness and increasing investment in corporate and academic research.
Major players in the market are Abbott Diagnostics (U.S.), Agilent Technologies (U.S.), Beckman Coulter (U.S.), GE Healthcare (U.S.), Olympus (Japan), Philips Healthcare (U.S.), Roche Diagnostics (Switzerland), Siemens Healthcare Diagnostics (Germany), Tecan (Switzerland), and Thermo Fisher Scientific (U.S).
For more information visit http://www.researchandmarkets.com/research/lrzpvt/lab_automation
