Lab Automation Market to Grow at 5.1% CAGR to 2022 led by Genomics Solutions Segment - ReportsnReports

PUNE, India, November 23, 2017 /PRNewswire/ --

Lab Automation Market is forecast to reach $5.20 billion by 2022 from $4.06 billion in 2017 at a CAGR of 5.1% during (2017-2022) driven by the process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large workforce demand and supply gap.

Browse 279 Market Data Tables and 31 Figures spread through 235 Pages and in-depth TOC on "Lab Automation Market by Equipment and Software (Robotic Arms, Microplate Readers, LIMS), Applications (Drug Discovery, Clinical Diagnostics, Genomics), End Users (Biotechnology and Pharmaceuticals, Diagnostic Labs) - Global Forecast to 2022" http://www.reportsnreports.com/reports/252623-lab-automation-market-by-equipment-software-automated-liquid-handling-robotics-microplate-readers-lims-and-automated-storage-and-applications-drug-discovery-clinical-diagnostics-genomics-proteomics-trends-global-forecasts-to-2017.html.

The major players in the lab automation market include Tecan Group (Switzerland), PerkinElmer (US), Danaher (Beckman Coulter & Molecular Devices) (US), Thermo Fisher (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Diagnostics (US), Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).

Based on application, the lab automation market is segmented into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology, and other applications. The genomics solutions segment is expected to grow at the highest CAGR during the forecast period. The rising need for high-throughput genomics in research labs and increase in genetic testing in diagnostic labs along, with better accuracy and reproducibility is contributing to the growth of lab automation solutions in genomics.

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The lab automation market in APAC region is expected to register the highest CAGR during the forecast period. A growing economy, increasing healthcare investments which lead to increased research activities and adoption of automated systems in clinical diagnostics and drug discovery, large population pool, improving public health awareness, and the rising demand for standardization and accreditation in laboratory practices are key market drivers in Asia Pacific. Process automation, miniaturization, and incorporation of robotics in lab automation workflows and the expansion of product distribution networks in APAC are the ongoing trends in the global lab automation market.