(PharmaNewsWire.Com, April 13, 2020 ) Market Overview The Global Labautomation Market is expected to grow at a CAGR of 6.90% during the forecasting period (2019-2026). Laboratory automation helps to develop and optimize technologies in the laboratory that enable new and improved processes. Automation is often seen in a wide range of applications ranging from proteomics to systems biology. Laboratory automation system includes automated lab instruments, software, and devices which offer benefits such as reduction of cycle time, increasing productivity, improvement of workflow coverage, and improvement of data quality. They provide a smooth solution to lab procedures such as decapping, centrifugation, aliquoting, recapping, and sorting, among others. Market Dynamics The global lab automation market is primarily driven by increasing demand for efficiency in drug discovery and clinical diagnostics, higher reproducibility and accuracy, better personnel safety, and miniaturization of the process. The rise in the number of clinical and pre-clinical studies all over the world forces the need for speed in an analysis of samples essential. According to the U.S. National library of medicine, 223,153 clinical studies are performed worldwide, while there are 80 pre-clinical studies. In the modern life sciences, data quality and validation play a significant role in making the legal validation of patents and clinical testing as great issues. And automation enables to cover this difficulty owing to its high accuracy and better-documented data while providing the safety in case of hazardous material testing. However, high costs of equipment and low priority of automation in small to medium-sized labs are restraining the growth of this market. Increasing prevalence of infectious diseases will increase the number of laboratory performed diagnostic tests and thereby provides an opportunity for market growth. Segment Analysis Diagnostics are expected to hold a significant market share in the lab automation market. The reason can be attributed to the high throughput required by the diagnostics, which is provided by the automated laboratories giving more samples. This kind of labs prefers total automation, while research labs and academic institutions need a modular level of automation. For example, on 14th May 2019, Roche launched of CE-IVD launch of the cobas MTB-RIF/INH test to aids clinicians in accelerating tuberculosis diagnosis and treatment by detecting antimicrobial resistance. Based on the application, the market is segmented as drug discovery, clinical discovery, clinical diagnostics, genomics solutions, proteomics solutions, others (cell biology, microbiology solutions). According to Drug report 2018, 247 million people used drugs, 29 million people suffered from drug use disorders, but only 1 in 6 people with drug use disorder is in treatment. Hence thorough research and approvals of drugs are of dire need.According to Drug report 2018, 247 million people used drugs, 29 million people suffered from drug use disorders, but only 1 in 6 people with drug use disorder is in treatment. Hence a thorough research and approvals of drugs are of dire need. The biotechnology & pharmaceutical companies segment are expected to hold the largest share in the lab automation market of the end-user segment. Factors such as increasing product intricacy, pricing pressure, high cost incurred by errors, and need for consistency in quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate the drug discovery process. According to the Pharmaceutical Research and Manufacturers of America, in 2016 the medicines in development globally are 7,000, the potential first in class medicines across the pipeline are at an average of 70%, and the drugs that are in progress to treat rare diseases are approximately around 450. Geographical Analysis North America is expected to hold the largest share in the global lab automation market owing to the presence of a high number of pharmaceutical R&D labs and increasing applications of lab automation by hospitals and clinical diagnostic labs for drug developments in the region. According to the U.S. National library of medicine, 223,153 clinical studies are performed worldwide, out of which North America has highest conducted studies (99,864), and the U.S. alone has 90,208 clinical studies. The U.S. biopharmaceutical industry has been the world leader in the development of new medicines. The biopharmaceutical industry invested an estimated $90 billion in research and development (R&D) in 2016. Asia Pacific is expected to witness the highest growth rate during the forecast period owing to the rise in R&D expenditure due to the developing nations, availability of cheap labor, and improving economic conditions in the region. For example, on 19th April 2019, Huawei launched a cloud and artificial intelligence innovation lab in Singapore. This cloud and AI lab serve as a hub for the Asia Pacific region. Competitive Analysis New product launches, expansion of facilities, mergers and acquisitions, and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate. The key players in the market are Thermo Fischer Scientific, Tecan Group, Siemens Health Care, Roche Holding AG, Qiagen NV, Perklinelmer Inc., Hamilton Robotics Inc., Agilent Technologies, and Beckman Coulter Inc. On 2nd May 2018, Agilent Technologies have entered into a definitive agreement to acquire Genohm, a developer of software solutions for laboratory management. Genohm's main laboratory software automation suite, SLIMS, gives an information management system, LIMS along with an electronic lab notebook environment, EIN which are used in bio-banks, research labs, and next-gen sequencing facilities. On 8th August 2018, Roche Diagnostics has launched VENTANA DP 200, a high-speed slide scanner used for digital pathology. The DP 200 has received approval from the Ministry of Food and Drug Safety. The product has a tray-type design that does not need slides to be moved directly, reducing scan errors and adding stability to equipment operation. On 1st March 2018, Thermofischer Scientific launched inSPIRE vertical modular robotic platform to accommodate multiple instruments in a space-saving solution. The product is designed to provide intuitive control of all integrated systems, both online and offline, and the Thermo Scientific Spinnaker XT robot is used. The platform operates based on the company's Momentum software enabling users to define, execute, and monitor multiple workflows through a single interface. Download Free Sample: https://www.datamintelligence.com/download-sample/lab-automation-market Why Purchase the Report? Visualize the composition of the global lab automation market across each product type and end users, highlighting the key commercial assets and players. Identify commercial opportunities in global lab automation market by analyzing trends and co-development deals. Excel data sheet with thousands of data points of the global lab automation market - level 4/5 segmentation. PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. 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