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(MoneyNewsWire.Net, November 30, 2018 ) Lab automation is defined as the use of technology to streamline or substitute manual manipulation of equipment and processes. The degree of automation that any lab requires depends on its workflow. While an academic research lab may prefer to use only some instruments in order to increase productivity and reduce the time spent on a tedious task, a drug discovery unit in a pharmaceutical company will perhaps need to automate all of its research phases.
Factors such as 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 are likely to drive the growth of this Lab Automation Market. In addition, lab automation offers enhanced productivity and reduced costs, better personnel safety, and small volumes of samples and reagents.
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The genomics solutions segment to grow at the highest CAGR
Based on applications, 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 use of automation is on the rise in genomics for high-throughput requirements, providing greater reproducibility and throughput as compared to manual methods.
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North America is expected to command the largest share of the global lab automation market in 2017. The increasing adoption of lab automation systems, implementation of the Affordable Care Act (ACA) in 2010 and economy stimulus programs such as increased funds for the National Institutes of Health (NIH) and the National Science Foundation (NSF), and increased R&D activities by biotechnology and pharmaceutical companies are driving growth in the lab automation market in North America.
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