LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global laboratory benchtop automation market to grow at a CAGR of above 6% during the period 2018-2022, according to their latest report.
This market research report segments the global laboratory benchtop automation market into the following applications, including pharmaceutical and biotechnology companies and clinical and reference laboratories and key regions, including the Americas, APAC, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the increasing product innovations as a key factor contributing to the growth of the global laboratory benchtop automation market:
Increasing product innovations
Technologically advanced products have emerged in the market due to the advances in electrical engineering, information technology, and instrumentation. They are designed for the specific needs of the end-users, which led to an increase in adoption of these products. Some of the prominent innovations in the global laboratory benchtop automation market include compact instrument configuration, extended pipetting ranges, pre-validated and compliant protocols, and newer configurations. Such innovations generated significant demand for benchtop automation products from various end-user segments. Players in the market have launched products which are focusing on improving laboratory productivity by automating repetitive tasks.
According to a senior analyst at Technavio for lab equipment, “Competitors provide numerous benchtop instruments, which automate each step of a life science or molecular testing workflow, including sample preparation, molecular detection, and analysis. Hence, the increasing number of innovations by players is driving the demand for the products. These innovations are automating redundant processes and saving cost and floor space of the end-users. Therefore, these innovations are likely to support the growth of the market during the forecast period.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global laboratory benchtop automation market segmentation
Of the two major end-users, the pharmaceutical and biotechnology companies segment held the largest market share in 2017, accounting for nearly 45% of the market. The market share for this end-user will see a slight decrease by 2022. The fastest growing end-user is clinical and reference laboratories, which will account for around 38% of the total market share by 2022.
The Americas was the leading region for the global laboratory benchtop automation market in 2017, accounting for a market share of around 50%. By 2022, APAC is expected to register the highest growth of nearly 2%.
| Technavio’s best deals of the month! |
|
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March for a limited period. |
|
OR |
|
Get 20% off on all media and entertainment services reports. Offer valid only till the 31st of March. |
|
|
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
