Fastest Growing Market:
The lab automation in genomics market is expected to register a CAGR of 7.5% during the forecast period, 2020-2025. Apart from reducing mundane repetitive tasks, the market for laboratory automation is also driven by the need for consistency in quality, because the cost of an error is very high in a scientific paper, developing a drug, or sample testing.
- The emergence of robotics and automation has majorly transformed a typical workday of scientists around the world. With the advent of automation techniques, scientists are now capable of setting up, running, and analyzing the results of an experiment in a fraction of the time. At present, gaining maximum efficiency out of every process, including R&D labs, is a major factor driving the market.
- Automation of routine laboratory procedures, using dedicated workstations and software to program instruments, allows scientists and technicians to think creatively about the implications of their experiments. This also allows the scientists to design effective follow-up projects or develop alternative approaches toward their work, instead of spending their time doing repetitive tedious tasks.
- Genome analysis involves nucleic acid purification, amplification, labeling, and signal detection (specific reaction, separation, and signal counting). Implementation of laboratory automation in genomics enables the laboratory to standardize sample processing and analysis. Furthermore, implementation of automated liquid handlers reduces the risk of sample misplacement.
Scope of the Report
Genomics is the study of whole genomes of organisms and incorporates elements from genetics. Genomics uses a combination of recombinant DNA, DNA sequencing methods, and bioinformatics to sequence, assemble, and analyze the structure and function of genomes.
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Key Market Trends
Automated Liquid Handlers to Witness High Growth
- Cross contamination is a major problem in the genomics laboratory, which can be avoided by implementing automated systems to manage the reagents and reaction mixtures.
- It is believed that taking out human intervention helps in achieving more consistency. Many technological advances have been made in the molding of plastics that reduced the volumes of reagents used and enabled the easy handling of smaller liquid volumes. These advancements have worked in favor of the development of micro- and nano-litre plates, to fit with the automated liquid handling equipment.
- Leading companies have set the benchmark for the development of automated liquid handlers. These companies are constantly investing in developing premium products, to increase the productivity of the process.
- According to the Robotics Industries Association, the life science sector has the third-highest growth in industrial robots, in terms of automated liquid handlers, automated plate handlers, and robotic arms, among others to meet up the demand.
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North America Occupies the Largest Market Share
- Landscape of the lab automation in genomics market in the North American region is extremely dynamic, with many mergers and acquisitions taking place in the market. Over the past few years, the Canadian economy has also witnessed a positive growth in the market. Additionally, as the Canadian economy have become stable, the profit margins have increased.
- With an increasing labor costs in the United States, the need for a cheaper and viable alternative of workforce has emerged, to provide sustainable long-term benefits. With the advantages of lab automation solutions, like improvement in the operational efficiency at a lower cost, it has become the primary factor driving the market in the North American region.
- The major demand for the laboratory automation solutions in the North American region is primarily rising with the increasing number of investments in R&D by governments. With the presence of large pharmaceutical companies with R&D labs in the region, and lab automation solutions adoption by hospitals and clinical diagnostic labs, the market is expected to grow further.
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The lab automation in genomics market is a highly competitive market, owing to the presence of many small and big players exporting products to many countries. The market is moderately concentrated, and the key strategies adopted by the major players are technological advancement in the product and merger and acquisition. Some of the major players in the market are Thermo Fisher Scientific Inc., Becton Dickinson, Siemens Healthineers AG, and Tecan Group Ltd, among others.
- May 2019 - Thermo Fisher Scientific Inc. entered an agreement with GlaxoSmithKline PLC worth EUR 90 million, to acquire a drug substance manufacturing site in Cork (Ireland).
- May 2019 - Thermo Fisher Scientific Inc. announced that it has completed the acquisition of Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies, for approximately USD 1.7 billion.
Table Of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Driving Digital Transformation for Laboratories with IoT
4.3.2 Effective Management of the Huge Amount of Data Generated
4.4 Market Restraints
4.4.1 Expensive Initial Setup
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Equipment
5.1.1 Automated Liquid Handlers
5.1.2 Automated Plate Handlers
5.1.3 Robotic Arms
5.1.4 Automated Storage and Retrieval Systems (AS/RS)
5.1.5 Vision Systems
5.2 By Geography
5.2.1 North America
5.2.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Thermo Fisher Scientific Inc.
6.1.3 Hudson Robotics
6.1.4 Becton Dickinson
6.1.5 Synchron Lab Automation
6.1.6 Agilent Technologies
6.1.7 Siemens Healthineers AG
6.1.8 Tecan Group Ltd
6.1.10 Honeywell International
6.1.11 Eppendorf AG
*List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability