The Asia-Pacific lab automation market is experiencing significant growth driven by several factors. The region's increasing research activities, particularly in countries like China, India, and Japan, are fueling the demand for advanced laboratory automation solutions. The prevalence of various pharmaceutical and biotechnology companies further contributes to market expansion. The adoption of lab automation equipment, analyzers, and software is on the rise as laboratories strive for improved efficiency, accuracy, and productivity. With a growing focus on research and development, the Asia-Pacific lab automation market is expected to continue its upward trajectory.
According to Data Bridge Market Research, the Asia-Pacific Lab Automation Market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.6% in the forecast period of 2022 to 2029 and is expected to reach USD 2,863.27 million by 2029.
“Government initiatives to strengthen laboratory infrastructures drive the market”
Government initiatives to strengthen laboratory infrastructures act as a key driver for the lab automation market. Governments worldwide recognize the importance of robust laboratory facilities for research, diagnostics, and public health. They are investing in upgrading and modernizing laboratory infrastructures to enhance efficiency, accuracy, and productivity. Such initiatives involve funding for procuring advanced lab automation systems, equipment, and software. Governments aim to encourage laboratories to adopt automation by providing financial support and incentives, leading to increased demand for lab automation solutions and driving market growth. These initiatives also contribute to improving healthcare outcomes, research capabilities, and overall laboratory operations.
What restraints the growth of Asia-Pacific lab automation market?
“The high cost associated with installation and setup serves”
The high cost associated with installation and setup is a significant restraint for the lab automation market. Implementing lab automation systems requires substantial initial investment, including purchasing equipment, instruments, software, and integration with existing infrastructure. Additionally, installation and setup often involve complex processes, including customization and validation, contributing to the overall cost. The high upfront investment can be a deterrent for smaller laboratories or facilities with limited budgets.
Segmentation: Asia-Pacific Lab Automation Market
Asia-Pacific lab automation market is segmented into product type, automated systems, application, and end user.
- On the basis of product type, the lab Asia-Pacific automation market is segmented into equipment, software and informatics, and analyzer.
- On the basis of automation type, the lab Asia-Pacific automation market is segmented into modular automation and total lab automation.
- On the basis of application, the lab Asia-Pacific automation market is segmented into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, bio analysis, protein engineering, lyophilization, system biology, analytical chemistry, and others.
- On the basis of end users, the lab Asia-Pacific automation market is segmented into biotechnology and pharmaceuticals, hospitals and laboratories, research and academic institutions, and others.
Regional Insights: China is expected to dominate the Asia-Pacific lab automation market
China is projected to lead the lab automation market in the Asia-Pacific region due to its thriving research activities and the presence of numerous pharmaceutical companies. The growing demand for advanced equipment, analyzers, and software in laboratories is anticipated to grow in the regional market. As China's pharmaceutical industry expands and research activities intensify, the need for efficient lab automation solutions is expected to increase, further propelling market dominance.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/asia-pacific-lab-automation-market
Recent Developments in Asia-Pacific Lab Automation Market
- In June 2022, BD announced the successful completion of its acquisition of Straub Medical AG, a privately held company. This strategic move allows BD to enhance its product portfolio and leverage the valuable expertise and experience of Straub Medical AG, strengthening its position in the market.
- In January 2022, QIAGEN revealed new collaborations with Atlia Biosystems to offer non-invasive prenatal testing (NIPT) solutions. This partnership aims to combine QIAGEN's expertise in molecular diagnostics with Atlia Biosystems' innovative technologies, providing advanced and reliable NIPT solutions to the market, offering improved prenatal screening options for expecting parents.
The Prominent Key Players Operating in the Asia-Pacific Lab Automation Market Include:
- QIAGEN (Germany)
- Siemens Healthcare (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Hamilton Company (U.S.)
- Hudson Robotics (U.S.)
- LabVantage Solutions Inc. (U.S.)
- Abbott (U.S.)
- BD (Becton, Dickinson and Company) (U.S.)
- Aurora Biomed Inc. (Canada)
- Danaher (U.S.)
- Tecan Trading AG (Switzerland)
- PerkinElmer Inc. (U.S.)
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies (U.S.)
- Azenta US Inc. (U.S.)
- Eppendorf SE (Germany)
- Labware (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of Asia-Pacific lab automation market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Asia-Pacific Lab Automation Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
