World Lab Automation Software Market Outlook to 2024 - Increasing R&D by Pharmaceutical & Biotech Companies is a Key Growth Driver
DUBLIN, July 25, 2019 /PRNewswire/ -- The "Lab Automation Software Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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The lab automation software market is expected to register a CAGR of 5.23% over the forecast period (2019-2024).
Key Highlights
-- The integration of robotics and automation is rapidly increasing, owing
to the enhanced productivity and mitigated operational cost for
laboratories. It is likely to boost the market growth over the forecast
period.
-- The progress in understanding and the discovery of the nature of life,
including the polymerase chain reaction (PCR), splice genes, means of
sequencing are on the rise, which may propel the market growth.
-- The cost to set lab automation module, including software, is on the
higher side and discourages small enterprises. This factor is expected
to hamper the market growth over the forecast period.
Market Trends
Laboratory Information Management System Expected to Have Largest Market Share
-- The laboratory information management system industry exhibited robust
growth over the past five years as laboratories grappled with an
increase in sample volumes, partly due to the increased demand for
diagnostic testing from the burgeoning elderly population.
-- Industry operators have particularly focused on developing software that
assists with operational issues, such as data security and regulatory
compliance. This market is driven by certain factors, such as the rising
pressure to comply with regulations, a growing need to integrate
healthcare systems, a shift from legacy systems to commercial
off-the-shelf LIMS solutions, and technological advancements in LIMS
products.
-- Moreover, the funding for tests, such as genome and DNA has led to an
increase in the laboratory information and data. Therefore, the rising
practice of genome study is favoring the market growth. Associated
advantages, such as high precision and elimination of manual data
transcription error are also anticipated to provide a boost to the
market.
North America Expected to Hold the Largest Market Share
-- The United States dominates the North American market and is the major
revenue contributor in the region. The large share in this region can be
attributed to the growing applications of lab automation in drug
development and clinical laboratory functions. The rise in the number of
clinical and pre-clinical studies worldwide has made the need for speed
in the analysis of samples imperative, making automation one of the key
components, contributing toward the growth of the market.
-- Strict regulations by the United States government and the FDA, along
with the growing demand in the diagnostic market and the increasing
usage of the discovery and research labs, owing to the rising presence
of various diseases, such as cardiovascular and neurological diseases,
in the region, has fuelled the growth of the market in this region.
Competitive Landscape
The lab automation software market is neither highly competitive nor does it have a limited number of players. There are other newer technologies in the pipeline through which routine laboratory processes, such as testing and screening are automated. Automation tools can process concurrent requests in real-time, showing marked improvement in productivity and throughput.
Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Value Chain / Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 TECHNOLOGY SNAPSHOT
6 MARKET DYNAMICS
6.1 Market Drivers
6.1.1 Increasing Research & Development by Pharmaceutical & Biotech Companies
6.1.2 Growing Demand from Drug Discovery & Genomics
6.2 Market Restraints
6.2.1 Higher Initial Setup Costs Can be Expensive for Overall Module
7 MARKET SEGMENTATION
7.1 By Software
7.1.1 Laboratory Information Management System (LIMS)
7.1.2 Laboratory Information System (LIS)
7.1.3 Chromatography Data System (CDS)
7.1.4 Electronic Lab Notebook (ELN)
7.1.5 Scientific Data Management System (SDMS)
7.2 By Field of Application
7.2.1 Drug Discovery
7.2.2 Genomics
7.2.3 Proteomics
7.2.4 Clinical Diagnostics
7.2.5 Other Applications
7.3 Geography
7.3.1 North America
7.3.2 Europe
7.3.3 Asia-Pacific
7.3.4 Rest of the World
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Thermo Fisher Scientific
8.1.2 Danaher Corporation
8.1.3 Hudson Robotics
8.1.4 Becton, Dickinson & Company
8.1.5 Synchron Lab Automation
8.1.6 Agilent Technologies
8.1.7 Siemens Healthcare
8.1.8 Tecan Group Ltd.
8.1.9 Perkinelmer Inc.
8.1.10 Bio-Rad Laboratories Inc.
8.1.11 Roche Holding AG
8.1.12 Eppendorf AG
8.1.13 Shimadzu Corporation
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9u42h2
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