Lab Automation Market: Growth Strategies Adopted by Key Players Like Thermo Fisher Scientific, Inc. (US), PerkinElmer Inc,(US)

Illinois, United States, 2021-Jan-29 — /EPR Network/ —

This report aims to provide detailed insights into the global lab automation market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Players in Lab Automation Market:

A few major players that have a wide regional presence dominate the Lab Automation market. The leading players in the Lab Automation market include Thermo Fisher Scientific (US), Agilent Technologies (US), PerkinElmer Inc. (US), Tecan Group (Switzerland), and Danaher Corporation (US).

Major Strategies Adopted by Them:

The major strategies adopted by these players include contracts & agreements ,new product launches, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Product Launches and partnerships & collaborations were the two most commonly adopted strategy from 2017 to 2020.

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Thermo Fisher Scientific, Inc. holds the leading position in the lab automation market, owing to its robust portfolio of lab automation instruments products and related accessories. Thermo Fisher has expanded its product portfolio through insight-driven innovation and strategic M&A to address to establish its position in the market. For instance, during the last three years. Thermo Fisher launched several instruments, such as the Real-Time PCR Systems (August 2020), the Multidrop Pico 1 and Pico 8 digital reagent dispensers(February 2020), Thermo Scientific inSPIRE, a vertical modular robotic platform, Thermo Scientific Cytomat SkyLine microplate storage and sequential delivery device that can hold up to 728 microplates and/or lids (February 2018), Thermo Scientific Orbitor RS2 Microplate to improve laboratory throughput and operational flexibility (February  2017). The company further offers its products across major customer categories, such as clinical laboratories, research & academic institutes, diagnostic laboratories, and hospitals. Thermo Fisher is expected to witness sustainable growth during the forecast period with its broad and technologically advanced product portfolio, wide geographic reach, and collaborations, agreements with other smaller market players.

Danaher Corporation offers a wide range of lab automation systems such as microplate readers (single-mode, multi-mode microplate reader), microplate washers, handlers, and accessories, liquid handlers, clinical laboratory diagnostic products, and software. The company offers these products through its subsidiary Beckman Coulter, Inc. (US), and Molecular Devices (US) Additionally, Danaher also focuses on enhancing its R&D capabilities and product pipeline and, as a result, launched several products in 2019 to expand its market offering. The company also focuses on M&A; for instance, in January 2019 Beckman Coulter Life Sciences Inc. acquired Labcyte(US) to expand the laboratory automation business and enhance time-saving solutions for customer workflows.

Key Factors Driving Market Growth:

The Increasing spending on pharmaceutical R&D, growing food safety concerns, standardization of workflows, stringent regulatory control in the healthcare industry are fueling the growth of the market. Moreover, high demand in the emerging nation and the growth of the pharmaceutical and biotechnology industries are some of the other major factors driving the growth of this market.

Expected Revenue Growth:

The lab automation market size will grow to USD 5.5 billion by 2025 from USD 4.3 billion in 2020, at a CAGR of 5.2% during the forecast period.

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Regional Growth Analysis:

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the major regions considered for the study of the Lab Automation market. North America is expected to dominate the market during the forecast period. Owing to the presence of large pharmaceutical companies, increasing investment in drug discovery and genomics market. This is expected to drive market growth for lab automation market.

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