Global Total Lab Automation Market Overview:
Total Laboratory Automation (TLA) is an automation system that is mainly used for the purpose of performing any kind of repetitive tasks in the laboratory. It replaces human operators with robotic devices when preparing and transporting samples. It consolidates the control of several different analyzers to a smaller number of operators and thus reduces the costs for laboratory tests. The benefits of full laboratory automation include reducing human error in sample handling, improvements in overall process control, and faster turnaround times (TAT) from sampling to reporting test results. Most clinical laboratories will soon be deciding to implement Total Laboratory Automation (TLA), or parts thereof, to reduce operating costs to meet declining reimbursements for medical services. With Total Laboratory Automation, laboratories can flexibly meet changing requirements, optimize operational efficiency, improve workflow functions, and improve productivity at a reasonable cost.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Increased Spending On Healthcare Services and The Growing Need of Low Regent Cost, High Productivity, and Reproducibility
Market Growth Drivers:
The Demand for Increased Sample Results, Handling, Data Integrity and Short Method Development Time, Increasing Demand for Higher Accuracy in the Results of the Testing Done In the Laboratories and Rising Aging Population Along With Growing Number of Diagnostic Test Performed In Laboratories
Challenges:
The Need for Highly Skilled Personnel and Lack of Adoption of Total Lab Automation among the Small and Medium-Sized Laboratories
Restraints:
Use of Software Related Automation Might have the Risk of Data Theft and High Cost of Total Lab Automation
Opportunities:
Increasing Spendings on Research and Development
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Thermo Fisher Scientific Inc. (United States), Inpeco SA (Switzerland), Siemens Healthcare (Germany), Roche Holding AG (Switzerland), Abbott Laboratories (United States), Danaher Corporation (Beckman Coulter) (United States), Tecan Group Ltd (Switzerland), Hudson Robotics Inc. (United States), Becton Dickinson & Co. (United States), Synchron Lab Automation (Netherlands) and Shimadzu Medical Systems (United States). Additionally, following companies can also be profiled that are part of our coverage like Agilent Technologies Inc. (United States), PerkinElmer Inc. (United States) and Sysmex Corporation (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global Total Lab Automation market by 2028. Considering Market by Software Type, the sub-segment i.e. Laboratory Information Management System (LIMS) will boost the Total Lab Automation market. Considering Market by End-User, the sub-segment i.e. Biotechnology and Pharmaceuticals will boost the Total Lab Automation market. Considering Market by Equipment Type, the sub-segment i.e. Automated Liquid Handlers will boost the Total Lab Automation market.
Latest Market Insights:
In October 2019, in collaboration with Helix, PerkinElmer Inc. launched GenePrism, which hereby provides an actionable insight with a new process of the genetic screening test, thereby offering the most comprehensive clinical-grade DNA sequencing and interpretation on the market currently, and for anyone who is keen to learn about the underlying disease risks. Although there are around 6,000 genes that are associated with diseases, and just a fraction of them are considered to be medically actionable or with some kind of therapeutic options.
On May 6, 2019, Abbott has launched a new, smarter heart monitor for better arrhythmia detection positive news for people at risk for irregular heartbeats. Now with CE Mark in Europe and U.S. Food and Drug Administration (FDA) clearance, the next-generation Confirm Rx insertable cardiac monitor (ICM), a paperclip-sized implantable device, combines smartphone connectivity and continuous, remote monitoring to track unpredictable heart rhythm problems for a fast and accurate diagnosis.
What Can be Explored with the Total Lab Automation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Total Lab Automation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Total Lab Automation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Total Lab Automation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Total Lab Automation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Total Lab Automation, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.