Insights on the Lab Automation Global Market to 202 – Impact of COVID-19 and Ansoff Analysis – ResearchAndMarkets.com – Business Wire

DUBLIN--(BUSINESS WIRE)--The "Global Lab Automation Market (2021-2026) by Product, Type, Geography, Impact of COVID-19, and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Laboratory Automation Market is estimated to be USD 4.67 Billion in 2021 and is expected to reach USD 6.13 Billion by 2026 growing at a CAGR of 5.6%

Laboratory automation is a multi-disciplinary advanced approach used in the laboratory to increase productivity, increase the efficiency of time and the laboratory processes. Automation technology is used to streamline or alter manual handling of instruments and processes. The degree of automation required by a lab depends on its workflow. Some labs might prefer automation for a few instruments, while others might choose to prefer automating its research phase.

Lab automation is expected to grow during the forecasted period considering multiple factors such as the adoption of lab automation in pharma and R&D institutes, increase in demand for miniaturizing process equipment.

Various factors contribute to the growth in the laboratory automation market such as rising geriatric population, miniaturization of processes, benefits of lab automation, progressing markets of drug discovery and diagnostics, and government funding for biotech and drug discovery research, while on the contrary low priority for lab automation among small and medium-sized laboratories acts as a restraining factor on the market.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

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Report Highlights:

Market Dynamics

Drivers

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For more information about this report visit https://www.researchandmarkets.com/r/7zdcgb

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Insights on the Lab Automation Global Market to 202 - Impact of COVID-19 and Ansoff Analysis - ResearchAndMarkets.com - Business Wire