Lab Automation in Genomics Market - Growth, Trends, and Forecast (2019 - 2024)
The lab automation in genomics market is expected to register a CAGR of 7.5% during the forecast period 2019-2024. Apart from reducing mundane repetitive tasks, the market for laboratory automation is also driven by the need for consistency in quality. Because the cost of an error is very high in a scientific paper, developing a drug, or samples testing.
The emergence of robotics and automation has majorly transformed a typical workday of scientists around the world. With the advent of automation techniques, scientists are now capable of setting up, running and analyzing the results of an experiment in a fraction of the time. In today's world, gaining maximum efficiency out of every process, including the R & D labs, is a major factor driving the market ahead.
Automation of routine laboratory procedures, by the use of dedicated work stations and software to program instruments, allows scientists and technicians to think creatively about the implications of their experiments and to design effective follow-up projects or develop alternative approaches to their work instead of spending their time doing repetitive tedious tasks.
Genome analysis involves nucleic acid purification, amplification, labeling and signal detection (specific reaction, separation and signal counting). Implementation of laboratory automation in genomics enables the laboratory to standardize sample processing and analysis. Furthermore, implementation of automated liquid handlers reduces the risk of sample misplacement.
Scope of the Report
Genomics is the study of whole genomes of organisms and incorporates elements from genetics. Genomics uses a combination of recombinant DNA, DNA sequencing methods, and bioinformatics to sequence, assemble, and analyze the structure and function of genomes.
Key Market Trends
Automated Liquid Handlers to Witness High Growth
Cross contamination is a major problem in the genomics laboratory which can be avoided by implementing automated systems to manage the reagents and reaction mixtures.
It is believed that taking out human intervention helps in achieving more consistency. Many technological advances have been made in the molding of plastics that has reduced the volumes of reagents used and also has enabled the handling of smaller liquid volumes easy. These advancements have worked in favor of the development of micro and nano-litre plates to fit in with the automated liquid handling equipment.
Leading companies have set the benchmark for the development of automated liquid handlers, and are constantly investing in developing premium products to increase the productivity of the process.
According to the Robotics Industries Association, the life science sector has the third highest growth in industrial robots in term of automated liquid handlers, automated plate handlers, robotic arms & others to meet up the demand
North America Occupies the Largest Market Share
The lab automation market landscape in the North American region is extremely dynamic with many mergers and acquisitions happening in the market. Over the past few years, the Canadian economy has also witnessed positive growth of the market. As the Canadian economy is economically more stable, the profits margins were more visible.
With the increasing labor costs in the United States, the need for a cheaper and viable alternative to provide sustainable long-term benefits has emerged. With the advantages like improvement in the operational efficiency at a lower cost, it is the primary factor driving the market in the North American region.
The major demand for the laboratory automation solutions in the North American region is primarily rising with the increasing number of investments in research and innovation by the government. With the presence of large pharmaceutical companies with R&D labs in the region, and lab automation solutions adoption by hospitals and clinical diagnostic labs, the market is expected to grow further.
The lab automation in genomics market is a highly competitive market owing to the presence of many small and big players exporting products to many countries. The market is moderately concentrated and the key strategies adopted by the major players are technological advancement in the product and mergers and acquisition. Some of the major players in the market are Thermo Fisher Scientific, Becton Dickinson, Siemens Healthineers AG, Tecan Group Ltd among others.
May 2019 - Thermo Fisher Scientific Inc., the world leader in serving science, entered into a definitive agreement to acquire a drug substance manufacturing site in Cork, Ireland, from GlaxoSmithKline plc for approximately €90 million.
May 2019 - Thermo Fisher Scientific Inc., announced that it has completed the acquisition of Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, for approximately $1.7 billion.
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