Laboratory Robotics Market - Segmented by Application, End User, and Region - Growth, Trends, and Forecast (2018 - 2023)
The laboratory robotics market is expected to witness a CAGR of over 6.7% over the forecast period (2018 - 2023).
Laboratory robotics can be broadly defined as using a technology to conduct scientific study and research experiments in a safe environment. The scope of this report is restricted to end-user industries, like clinical laboratories and research laboratories. Laboratory robotics are developed by a number of firms, like Thermo Fisher Scientific, Beckman Coulter Inc., Hudson Robotics, Peak Analysis & Automation (PAA), Tecan Group, and Perkin Elmer, among others. North America is likely to stay at the helm during the forecast period, due to the advent of advanced research institutes and increasing investments by market players.
Ensures Safety of Both Humans and Property
Laboratory experiments involve the use hazardous chemicals and substances, however, a number of precautionary measures are being undertaken to overcome ill-effects of these chemicals. There are a number of cases where these experiments have caused injuries to researchers, moreover, in some adverse conditions they can also lead to death. Considering these factors, the need for laboratory robots has grown significantly. These robots make sure that humans are not exposed to these chemicals directly and, in turn, provide a safer working environment.
Robots More Accurate and Precise than Humans
In the recent past, robotics has revolutionized the mankind to a great extent. The reason being, once robots are programmed to do a task, they continue to do the assigned job at a stretch. They do not get tired or worn out, unlike humans. By delegating repetitive applications to robots, they provide consistency in sample preparation. On the other hand, robots maintain accuracy and precision and are highly efficient.
North America is the Largest Region
In North America, increasing technological focus and investments by market leaders are driving the market to be the largest laboratory robotics. The increasing number of players in the region has a led to a rise in collaborations in the market, which is boosting the focus toward technology. Asia-Pacific, followed by Europe, is the second-largest market, due to the growing aged population and high demand for healthcare services fueling the demand for laboratory robotics.
Key Developments in the Market