The lab automation market is expected to grow from an estimated USD 4.3 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 5.2% during the forecast period. With the increasing investment in research by pharmaceutical companies, there are high growth prospects for lab automation market during the forecast period.
A few major players that have a wide regional presence dominate the Lab Automation market. The leading players in the Lab Automation market include Thermo Fisher Scientific (US), Agilent Technologies (US), PerkinElmer Inc. (US), Tecan Group (Switzerland), and Danaher Corporation (US).
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The major strategies adopted by these players include contracts & agreements ,new product launches, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Product Launches and partnerships & collaborations were the two most commonly adopted strategy from 2017 to 2020.
Thermo Fisher Scientific, Inc. holds the leading position in the lab automation market, owing to its robust portfolio of lab automation instruments products and related accessories. Thermo Fisher has expanded its product portfolio through insight-driven innovation and strategic M&A to address to establish its position in the market. For instance, during the last three years. Thermo Fisher launched several instruments, such as the Real-Time PCR Systems (August 2020), the Multidrop Pico 1 and Pico 8 digital reagent dispensers(February 2020), Thermo Scientific inSPIRE, a vertical modular robotic platform, Thermo Scientific Cytomat SkyLine microplate storage and sequential delivery device that can hold up to 728 microplates and/or lids (February 2018), Thermo Scientific Orbitor RS2 Microplate to improve laboratory throughput and operational flexibility (February 2017). The company further offers its products across major customer categories, such as clinical laboratories, research & academic institutes, diagnostic laboratories, and hospitals. Thermo Fisher is expected to witness sustainable growth during the forecast period with its broad and technologically advanced product portfolio, wide geographic reach, and collaborations, agreements with other smaller market players.
Danaher Corporation offers a wide range of lab automation systems such as microplate readers (single-mode, multi-mode microplate reader), microplate washers, handlers, and accessories, liquid handlers, clinical laboratory diagnostic products, and software. The company offers these products through its subsidiary Beckman Coulter, Inc. (US), and Molecular Devices (US) Additionally, Danaher also focuses on enhancing its R&D capabilities and product pipeline and, as a result, launched several products in 2019 to expand its market offering. The company also focuses on M&A; for instance, in January 2019 Beckman Coulter Life Sciences Inc. acquired Labcyte(US) to expand the laboratory automation business and enhance time-saving solutions for customer workflows. Thus, with its broad product portfolio and inorganic growth strategy, Danaher is expected to grow at a significant rate in the global life science instrumentation market during the forecast period.
Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End-User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2025
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