Global Laboratory Robotics Market 2017-2021
About Laboratory Robotics
Laboratory robots empower end-users with robust and faster throughput and enable them to process a large volume of samples in a significantly lesser time than that in manual processing. Analysis of data in research and clinical laboratories is vital for establishing a meaningful result, and this is where robots prove to be highly beneficial in achieving the desired objective. Both research and clinical laboratories carry out a number of applications simultaneously, thus increasing the demand for personnel in case of manual operations. Comparatively, robotic solutions are better equipped and programmed to carry out the same number of tasks concurrently within less time, thus finding increased demand among laboratories.
Technavio’s analysts forecast the global laboratory robotics market to grow at a CAGR of 8.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global laboratory robotics market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Laboratory Robotics Market 2017-2021
Technavio recognizes the following companies as the key players in the global laboratory robotics market: Peak Analysis & Automation, Thermo Fisher Scientific, Tecan Group, and Yaskawa Electric.
Other Prominent Vendors in the market are: AB Controls, Aerotech, ALS Automated Lab Solutions, Anton Paar, Aurora Biomed, Biosero, Chemspeed Technologies, Cleveland Automation Engineering, Hamilton Robotics, HighRes Biosolutions, Hudson Robotics, Labman, Protedyne, ST Robotics, Synchron, and Universal Robots.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is advancement in diagnostic capabilities. In recent years, there have been several advancements in healthcare and research capabilities to facilitate the enhancement of medical technologies. Significant developments are taking place in the areas of in-vitro diagnosis techniques such as isothermal nucleic acid and biomarkers. These developments, in turn, necessitate the demand for advanced automation systems for carrying out analysis and reporting the findings. Some notable advancements that are going to shape the future of global laboratory robotics market during the forecast period.”
According to the report, one driver in market is addressing productivity and cost management in laboratories. Manually operated laboratories are often characterized by lower productivity in processes owing to human involvement. This, in turn, results in entailing a higher operational cost, additional overhead costs, and increased expenditure of samples, consumables, and reagents. It has been observed that in clinical and research laboratories, approximately 50%–60% of the operational cost is incurred due to labor and associated training and compensations. Laboratory automation technologies such as robots help to enhance the productivity of laboratories and alleviate the escalation of costs incurred due to wastage. Implementation of robotic technologies is a one-time investment which can address both productivity and cost related issues in laboratories. These robots can help chemical and pharmaceutical businesses in generating a higher profit by minimizing the time required for process completion and overhead charges arising out of lab operations.
Further, the report states that one challenge in market is high system engineering and installation costs. Independent software vendors who specialize in generic or customized software packages designed for robotics and system integrators providing engineered solutions are essential parts of the robotics supply chain. System engineering, services, and installations are expensive and account for three-fourth of the overall costs in robotic implementation. Although implementation of robots generates a better return for laboratory operations, a high one-time investment for product purchase and installation services deters unrestricted growth in the market. Several system integrators who procure components from different vendors offer their products at a high price due to rising system engineering cost. This makes end-users cautious while making new investments in robotics. In addition to high system engineering costs, pharmaceutical and chemical industries demand advanced robotic technologies that force system integrators to pass on the extra cost in terms of final product pricing. Since very few system integrators engage in long-term partnership with one company for procuring a specific component, customization needs inherently translate into higher engineering cost.
Peak Analysis & Automation, Thermo Fisher Scientific, Tecan Group, Yaskawa Electric, AB Controls, Aerotech, ALS Automated Lab Solutions, Anton Paar, Aurora Biomed, Biosero, Chemspeed Technologies, Cleveland Automation Engineering, Hamilton Robotics, HighRes Biosolutions, Hudson Robotics, Labman, Protedyne, ST Robotics, Synchron, and Universal Robots.
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