LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global modular laboratory automation market and the market is poised to grow by USD 1.08 billion during 2020-2024 at a CAGR of over 6% during the forecast period. Request Free Sample Pages
Read the 169-page research report with TOC on "Modular Laboratory Automation Market Analysis Report by Geography (Asia, Europe, North America, and ROW), by End-user (Hospitals and diagnostic laboratories, Pharmaceutical and biotechnology companies, and Other end-users), and Segment Forecasts, 2020-2024".
The market is driven by the rise in drug development and research activities. In addition, the integration of AI and analytical tools in laboratory workflow is anticipated to further boost the growth of the modular laboratory automation market.
The drug R&D sector is witnessing rapid growth with the increase in drug discovery activities and approvals. Drug discovery activities involve safety testing procedures such as validation testing, pharmacogenomic testing, and toxicity testing. This is encouraging drug development researchers to use automation technologies, which are used in safety testing procedures to automate the preanalytical and postanalytical processing. It enhances the process by developing a streamlined workflow and minimizing manual intervention. Thus, the rise in drug development and research activities is expected to drive market growth during the forecast period.
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Major Five Modular Laboratory Automation Market Companies:
Agilent Technologies Inc.
Agilent Technologies Inc. is headquartered in the US and operates the business under various segments such as Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company offers BenchCel Workstation and Bravo BenchCel Workstation along with microplate management instruments.
Becton, Dickinson and Co.
Becton, Dickinson and Co. is headquartered in the US and offers products through the following business units: BD Medical, BD Life Sciences, and BD Interventional. The company offers BD Kiestra InoqulA+ specimen processor and BD Kiestra WCA system.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. is headquartered in the US and operates under the following two business segments, namely Life Science and Clinical Diagnostics. The company offers an automated high-throughput flow cytometer solution.
Danaher Corp. is headquartered in the US and offers products through the following business segments: Life Sciences, Diagnostics, Dental, and Environmental & Applied Solutions. The company offers AutoMate 2500 Family Sample Processing Systems, Power Link Workcell, Power Processor Sample Handling System, Power Express Laboratory Automation System, and Liquid Handlers.
F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. is headquartered in Switzerland and offers products through the following two business segments: Pharmaceuticals and Diagnostics. The company offers Cobas, MagNA Pure, VANTAGE workflow, and LightCycler.
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Modular Laboratory Automation End-users Outlook (Revenue, USD Million, 2020-2024)
- Hospitals and diagnostic laboratories
- Pharmaceutical and biotechnology companies
- Other end-users
Modular Laboratory Automation Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
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