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Laboratory Automation Market 2019
Laboratory automation is a multi-disciplinary strategy to research, develop, optimize and capitalize on technologies in the laboratory that enable new and improved processes. Laboratory automation professionals are academic, commercial and government researchers, scientists and engineers who conduct research and develop new technologies to increase productivity, elevate experimental data quality, reduce lab process cycle times, or enable experimentation that otherwise would be impossible.
The most widely known application of laboratory automation technology is laboratory robotics. More generally, the field of laboratory automation comprises many different automated laboratory instruments, devices (the most common being autosamplers), software algorithms, and methodologies used to enable, expedite and increase the efficiency and effectiveness of scientific research in laboratories.
In 2018, the global Laboratory Automation market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Laboratory Automation status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Laboratory Automation development in United States, Europe and China.
The key players covered in this study
Thermo Fisher Scientific
Market segment by Type, the product can be split into
Off-The-Shelf Automated Workcells
Automated Storage & Retrieval Systems
Market segment by Application, split into
Hospitals and Diagnostic Laboratories
Research and Academic Institutes
Biotechnology and Pharmaceutical Companies
The healthcare sector is amid the fastest growing and the most significant industries which has a direct impact on a patient’s quality of life. The current-day advancement in technology and science has rendered this industry with the most effective and innovative processes and equipment to diagnose and also treat ailments. There are numerous companies that cater to the growing need for such equipment. Glucose meter, venous access device, robotic surgery equipment, mammography machine, surgical appliances, ophthalmic goods, and in-vitro diagnostic substances are few examples that are aiding healthcare experts to treat and detect diseases in a streamlined way.
The pharmaceutical industry manufacturers innovate, and markets licensed drugs which are integral and effective for improved healthcare facilities. With the general mass becoming more health conscious, nutritional supplements have taken a significant share of the healthcare sectors, which again are the products of pharmaceutical sectors. Again, medical insurance, which backs up the operations of the healthcare industry, entirely has a notable impact on the growth and the existence of the healthcare industry. With spontaneous service and active participation, medical insurance has turned into primary support for most of the treatments which incur considerable expenses. Facilities such as cashless treatments and TPA are helping patients to enjoy a hassle-free treatment at top-facilitated hospitals.
The landscape of the healthcare sector has become patient-friendly and fast-paced, owing to custom medical solutions. Software advancements in this domain have entirely transformed the manner in which medical professionals interact with patients and vice versa. There are many impactful technological advancements that patients and doctors are leveraging the power of- digital diagnostics, cloud/portal technology, wearable devices, mobile health, self-service kiosks, telehealth, and more. This again, is impacting the growth of the healthcare industry positively. All in all, healthcare software systems have brought about an increase in the quality of services offered and bringing about efficiency gains in the organization, upgrading security protocols, promoting patient safety, electronic health records, and more. Besides, claims submission and electronic billing rapidly generate extra savings by reducing the expenditure of creating bills along with speeding reimbursement.
Biotechnology, too, has contributed incredibly to the healthcare domain. Genetic diseases, as well as other illnesses such as cardiovascular disorders, multiple sclerosis, bone fracture, hemophilia, arthritis, cancer, hepatitis C, and hepatitis B, can all be treated through Biotechnology. Genetic testing has helped researchers to decode DNA, and study its structure. Carrier screening, cancer screening, and Prenatal diagnostic screening are facilitated through genetic testing. Cardiff doctors have recently launched a genetic testing kit exclusively for Welsh patients. This test is non-invasive and will offer patients a better understanding of what the test may mean. Biotechnology has contributed immensely by offering efficient medicines that can cure various deadly diseases. This again, is contributing to the growth of the healthcare sector.
The healthcare sector is developing at a brisk pace owing to its strengthening coverage, excellent services, and rising expenditure by private and public players alike. The adoption of AI in the healthcare sector is on the rise. Through AI-based applications, patients can talk to doctors directly for the best treatment. The modern healthcare industry has seen a paradigm shift in the manner in which patients are treated as now they have inordinate data in their hands, while a right amount of this can be put into good use. In fact, digital transformation and innovation are likely to offer reliable solutions to increase the quality of care as well as, at the same time containing costs.
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