The lab automation market is expected to be worth US$ 2.1 billion in 2023. The lab automation market is expected to grow at a CAGR of 10.1% during the forecast period, reaching US$ 5.5 billion by 2033, owing to the increasing adoption of lab automation across various end-use verticals.
FMI, in its business report, elaborates the historical and current scenario of the global Lab Automation Market in terms of production, consumption, volume, and value. The report scrutinizes the market into various segments, regions and players on the basis of demand pattern and growth prospects.
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Crucial information and forecast statistics covered in the Lab Automation market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
COVID-19 Impact Analysis on Lab Automation Market
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Lab Automation market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Lab Automation market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Lab Automation market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Lab Automation Market: Segmentation
Valuable information covered in the FMI’s Lab Automation market report has been segregated into key segments and sub-segments.
By Component Type:
- Devices
- Biochemistry Devices
- Molecular Devices
- Hematology Devices
- Immunology Devices
- Microbiology Devices
- Others
- Software
- Scheduling Software
- Momentum Integration Software
By Application:
- Life Sciences Research and Development
- Drug Discovery
- Diagnostics
By End User:
- Pharmaceutical Companies
- Hospitals and Diagnostic Centers
- Educational Institutions
- Contract Research Organizations (CROs)
- Research Institutes
Lab Automation Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Lab Automation market. Competitive information detailed in the Lab Automation market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Lab Automation market report.
Key players covered in the report include:
- Abbott Laboratories
- Agilent Technologies
- Perkin Elmer, Inc
- Thermo Fisher Scientific, Inc
- Siemens Healthcare
- Danaher Corporation
- Becton
- Dickinson and Company
- Transcriptic, Inc
Important Questions Answered in the Lab Automation Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Lab Automation market been expanding during the forecast period?
- How will the global Lab Automation market look like by the end of the forecast period?
- What innovative strategies are adopted by Lab Automation market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Lab Automation market?
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Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Lab Automation market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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