Global Lab Bioanalysis Automation Market 2017-2021
About Lab Bioanalysis Automation
Bioanalysis refers to a collective process of measuring quantitative and qualitative aspects of a sample, which can either be a chemical compound for drug target identification or a blood sample for disease diagnosis. Researchers in life sciences, healthcare, and pharmaceutical industries deal with numerous samples every day. Thus, bioanalysis of these samples requires repetition of certain basic steps and procedures. As a result, to enhance routine lab processes and to improve process efficiencies, products or systems that conduct these repetitive processes automatically are introduced. This helps in saving the operational time for researchers, which they can dedicate to more vital activities such as data analysis and generation of actionable insights. The collective process of automating set procedures and protocols during a bioanalysis experiment is called lab bioanalysis automation.
Technavio’s analysts forecast the global lab bioanalysis automation market to grow at a CAGR of 7.84% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global lab bioanalysis automation market for 2017-2021 . To calculate the market size, the report considers the revenue generated from retail sales of laboratory automation products and software programs used in bioanalysis.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Lab Bioanalysis Automation Market 2017-2021
Technavio recognizes the following companies as the key players in the global lab bioanalysis automation market: Agilent Technologies, Beckman Coulter, F. Hoffmann-La Roche, and Thermo Fisher Scientific
Other Prominent Vendors in the market are: Aurora Biomed, Becton, Dickinson and Company, bioMérieux, Bio-Rad Laboratories, BioTek Instruments, Eppendorf, Hamilton Company, Hudson Robotics, PerkinElmer, QIAGEN, Shimadzu, Siemens Healthineers, Synchron Lab Automation, Tecan Trading, and Universal Robots
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing focus on personalized medicine. As there is a shift in the mindset of healthcare professionals (HCPs) and patients toward a model of preventive healthcare from prescriptive healthcare, development of personalized medicine is becoming increasingly important as it will contribute to the exploration of new therapies for individuals with genetic anomalies.”
According to the report, one of the major drivers for this market is Increasing use of automation in healthcare industry. In various industry and government-funded studies, chief executive officers (CEO) of hospital and healthcare systems cite overall cost reduction and efficiency as one of their top two financial priorities. With the healthcare industry continually looking at cost-cutting and improvements in efficiency and throughput, automation of manual tasks can be an important part of the strategy for performance improvement.
Further, the report states that one of the major factors hindering the growth of this market is Inability of small-scale and medium-scale laboratories to fully adopt automation solutions. Medium and small-scale laboratories handle less sample volume per day and are mostly set up to address specific applications. These laboratories suffer from cramped budgets, lesser number of staff, and inefficient planning procedures. Therefore, these labs never take automation as a priority and hence, display consistent inability to shift to fully automated lab solutions. Lack of floor space is also an issue and automating every process would cramp up the space required for researchers and other key equipment.
Agilent Technologies, Beckman Coulter, F. Hoffmann-La Roche, Thermo Fisher Scientific, Aurora Biomed, Becton, Dickinson and Company, bioMérieux, Bio-Rad Laboratories, BioTek Instruments, Eppendorf, Hamilton Company, Hudson Robotics, PerkinElmer, QIAGEN, Shimadzu, Siemens Healthineers, Synchron Lab Automation, Tecan Trading, and Universal Robots