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Lab Automation Market By Software & Equipment, Application And End User- Global Industry Analysis And Forecast To 2023
Published On : June 2022 Pages : 190 Category: Healthcare IT Report Code : HC06929
SEGMENTS & REGIONS:
- Regions: North America, Europe, Asia- Pacific, Latin America, Middle East & Africa
Industry Outlook and Trend Analysis
The Lab Automation Market was worth USD 3.58 billion in 2017 and is expected to reach approximately USD 5.60 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.11% during the forecast period. Lab automation is characterized as the usage of technology to streamline or substitute manual control of processes and equipment. The level of automation that any lab requires relies upon its work process. While an academic research lab may use just a few instruments with a specific end goal to build efficiency and lessen the time spent on a tedious task, a drug discovery unit in a pharmaceutical organization will need to automate the majority of its research phases. Factors, for example, process scaling down, popularity for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and exactness, and huge workforce demand and supply gap are probably going to drive the development of this market. Furthermore, lab automation offers upgraded profitability and lessened costs, better staff safety, and little volumes of samples and reagents.
Equipment & Software Outlook and Trend Analysis
On the basis of equipment and software, the market is portioned into off-the-shelf workcells, automated workstations, automated storage and retrieval system, robotic systems, software, and other equipment. In 2022, the automated workstations fragment is anticipated to represent the biggest share of the lab automation market. The popularity for automation in liquid handling with is the key factor driving business sector development in this portion. Automated workstations offer benefits, for example, upgraded accuracy, and diminished time and cost.
Application Outlook and Trend Analysis
On the basis of applications, the lab automation market is portioned into clinical diagnostics, drug discovery, proteomics solutions, genomics solutions, microbiology, and other applications. The genomics arrangements fragment is anticipated to develop at the most astounding CAGR amid the figure time frame. The usage of mechanization is on the ascent in genomics for high-throughput necessities, giving significant reproducibility and throughput when contrasted with manual techniques.
End User Outlook and Trend Analysis
On the basis of end user, the lab automation market is divided into pharmaceutical and biotechnology organizations, research and academic institute, and hospitals and diagnostic labs. In 2022, the biotechnology and pharmaceutical companies section is anticipated to represent the biggest share of the lab automation market. Factors, for example, expanding pricing pressure, product intricacy, high cost acquired by blunders, and requirement for consistency in quality are driving biotechnology and pharmaceutical organizations to adopt automation and accelerate the drug discovery process.
Regional Outlook and Trend Analysis
In 2022, North America is anticipated to represent the biggest share of the worldwide lab automation market. The interest for lab robotization in North America is driven by the expanding number of investments in research and development by the administration, substantial existence of pharmaceutical R&D labs in this area, and lab automation selection by healing centres and clinical diagnostic labs because of expanding volume of tests.
Competitive Insights
The major players in the market are Siemens Healthineers, Perkin Elmer Private Limited, Eppendorf India Ltd, Abbott Diagnostics International Ltd, Thermo Fisher Scientific, Roche Diagnostics, Qiagen, Tecan, Agilent Technologies, Danaher Corporation and Hamilton Company. In 2022, Tecan dominated the Lab Automation Market.
The Lab Automation Market is segmented as follows-
By Software and Equipment:
- Off-the-shelf Automated Workcells
- Automated Workstations
- Automated Storage & Retrieval Systems (ASRS)
- Robotic Systems
- Software
- Other Equipment
By Application:
- Clinical Diagnostics
- Drug Discovery
- Microbiology Solutions
- Other Applications
By End User:
- Hospitals and Diagnostic Laboratories
- Biotechnology and Pharmaceutical Companies
- Research and Academic Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Columbia
- South Africa
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Nigeria
- South Africa
- Rest of MEA
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2023?
- What will be the industry market growth from 2017 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
· Lab Automation Market, By Equipment & Software, Estimates and Forecast, 2014-2023($Billion)
o Automated Workstations
o Off-the-shelf Automated Workcells
o Robotic Systems
o Automated Storage & Retrieval Systems (ASRS)
o Other Equipment
o Software
· Lab Automation Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Drug Discovery
o Clinical Diagnostics
o Microbiology Solutions
o Other Applications
· Lab Automation Market, By End User, Estimates and Forecast, 2014-2023($Billion)
o Biotechnology and Pharmaceutical Companies
o Hospitals and Diagnostic Laboratories
o Research and Academic Institutes
· Lab Automation Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Lab Automation Market, By Country
o U.S. Lab Automation Market
o Canada Lab Automation Market
o Mexico Lab Automation Market
o Europe
§ Europe Lab Automation Market, By Country
o Germany Lab Automation Market
o UK Lab Automation Market
o France Lab Automation Market
o Russia Lab Automation Market
o Italy Lab Automation Market
o Rest of Europe Lab Automation Market
o Asia-Pacific
§ Asia-Pacific Lab Automation Market, By Country
o China Lab Automation Market
o Japan Lab Automation Market
o South Korea Lab Automation Market
o India Lab Automation Market
o Southeast Asia Lab Automation Market
o Rest of Asia-Pacific Lab Automation Market
o South America
§ South America Lab Automation Market
o Brazil Lab Automation Market
o Argentina Lab Automation Market
o Columbia Lab Automation Market
o South Africa Lab Automation Market
o Rest of South America Lab Automation Market
o Middle East and Africa
§ Middle East and Africa Lab Automation Market
o Saudi Arabia Lab Automation Market
o UAE Lab Automation Market
o Egypt Lab Automation Market
o Nigeria Lab Automation Market
o South Africa Lab Automation Market
o Rest of MEA Lab Automation Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Emerging Markets to Offer Lucrative Growth Opportunities
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2017-2023)
4.1.2. Canada Market States and Outlook (2017-2023)
4.1.3. Mexico Market States and Outlook (2017-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2017-2023)
4.2.2. France Market States and Outlook (2017-2023)
4.2.3. UK Market States and Outlook (2017-2023)
4.2.4. Russia Market States and Outlook (2017-2023)
4.2.5. Italy Market States and Outlook (2017-2023)
4.2.6. Rest of Europe Market States and Outlook (2017-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2017-2023)
4.3.2. Japan Market States and Outlook (2017-2023)
4.3.3. Korea Market States and Outlook (2017-2023)
4.3.4. India Market States and Outlook (2017-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2017-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2017-2023)
4.4.2. Argentina Market States and Outlook (2017-2023)
4.4.3. Columbia Market States and Outlook (2017-2023)
4.4.4. Rest of South America Market States and Outlook (2017-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2017-2023)
4.5.2. UAE Market States and Outlook (2017-2023)
4.5.3. Egypt Market States and Outlook (2017-2023)
4.5.4. Nigeria Market States and Outlook (2017-2023)
4.5.5. South Africa Market States and Outlook (2017-2023)
4.5.6. Rest of MEA Market States and Outlook (2017-2023)
5. Lab Automation Market, By Equipment & Software
5.1. Introduction
5.2. Global Lab Automation Sales, Revenue and Market Share by Equipment & Software (2017-2027)
5.2.1. Global Lab Automation Sales and Sales Share by Equipment & Software (2017-2027)
5.2.2. Global Lab Automation Revenue and Revenue Share by Equipment & Software (2017-2027)
5.3. Automated Workstations
5.3.1. Global Automated Workstations Sales and Growth Rate (2017-2027)
5.4. Off-the-shelf Automated Workcells
5.4.1. Global Off-the-shelf Automated Workcells Sales and Growth Rate (2017-2027)
5.5. Robotic Systems
5.5.1. Global Robotic Systems Sales and Growth Rate (2017-2027)
5.6. Automated Storage & Retrieval Systems (ASRS)
5.6.1. Global Automated Storage & Retrieval Systems (ASRS) Sales and Growth Rate (2017-2027)
5.7. Other Equipment
5.7.1. Global Other Equipment Sales and Growth Rate (2017-2027)
5.8. Software
5.8.1. Global Software Sales and Growth Rate (2017-2027)
6. Lab Automation Market, By Application
6.1. Introduction
6.2. Global Lab Automation Sales, Revenue and Market Share by Application (2017-2027)
6.2.1. Global Lab Automation Sales and Sales Share by Application (2017-2027)
6.2.2. Global Lab Automation Revenue and Revenue Share by Application (2017-2027)
6.3. Drug Discovery
6.3.1. Global Drug Discovery Sales and Growth Rate (2017-2027)
6.4. Clinical Diagnostics
6.4.1. Global Clinical Diagnostics Sales and Growth Rate (2017-2027)
6.5. Microbiology Solutions
6.5.1. Global Microbiology Solutions Sales and Growth Rate (2017-2027)
6.6. Other Applications
6.6.1. Global Other Applications Sales and Growth Rate (2017-2027)
7. Lab Automation Market, By End User
7.1. Introduction
7.2. Global Lab Automation Sales, Revenue and Market Share by End User (2017-2027)
7.2.1. Global Lab Automation Sales and Sales Share by End User (2017-2027)
7.2.2. Global Lab Automation Revenue and Revenue Share by End User (2017-2027)
7.3. Biotechnology and Pharmaceutical Companies
7.3.1. Global Biotechnology and Pharmaceutical Companies Sales and Growth Rate (2017-2027)
7.4. Hospitals and Diagnostic Laboratories
7.4.1. Global Hospitals and Diagnostic Laboratories Sales and Growth Rate (2017-2027)
7.5. Research and Academic Institutes
7.5.1. Global Research and Academic Institutes Sales and Growth Rate (2017-2027)
8. Lab Automation Market, By Region
8.1. Introduction
8.2. Global Lab Automation Sales, Revenue and Market Share by Regions
8.2.1. Global Lab Automation Sales by Regions (2017-2027)
8.2.2. Global Lab Automation Revenue by Regions (2017-2027)
8.3. North America Lab Automation by Countries
8.3.1. North America Lab Automation Sales and Growth Rate (2017-2027)
8.3.2. North America Lab Automation Revenue and Growth Rate (2017-2027)
8.3.3. North America Lab Automation Sales by Countries (2017-2027)
8.3.4. North America Lab Automation Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States Lab Automation Sales and Growth Rate (2017-2027)
8.3.5.2. United States Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada Lab Automation Sales and Growth Rate (2017-2027)
8.3.6.2. Canada Lab Automation Sales (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico Lab Automation Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Lab Automation by Countries
8.4.1. Europe Lab Automation Sales and Growth Rate (2017-2027)
8.4.2. Europe Lab Automation Revenue and Growth Rate (2017-2027)
8.4.3. Europe Lab Automation Sales by Countries (2017-2027)
8.4.4. Europe Lab Automation Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany Lab Automation Sales and Growth Rate (2017-2027)
8.4.5.2. Germany Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK Lab Automation Sales and Growth Rate (2017-2027)
8.4.6.2. UK Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France Lab Automation Sales and Growth Rate (2017-2027)
8.4.7.2. France Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia Lab Automation Sales and Growth Rate (2017-2027)
8.4.8.2. Russia Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy Lab Automation Sales and Growth Rate (2017-2027)
8.4.9.2. Italy Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Lab Automation Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Lab Automation Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Lab Automation Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific Lab Automation Sales by Countries (2017-2027)
8.5.4. Asia-Pacific Lab Automation Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China Lab Automation Sales and Growth Rate (2017-2027)
8.5.5.2. China Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan Lab Automation Sales and Growth Rate (2017-2027)
8.5.6.2. Japan Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6.3.
8.5.7. Korea
8.5.7.1. Korea Lab Automation Sales and Growth Rate (2017-2027)
8.5.7.2. Korea Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India Lab Automation Sales and Growth Rate (2017-2027)
8.5.8.2. India Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Lab Automation Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Lab Automation Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Lab Automation Sales and Growth Rate (2017-2027)
8.6.2. South America Lab Automation Revenue and Growth Rate (2017-2027)
8.6.3. South America Lab Automation Sales by Countries (2017-2027)
8.6.4. South America Lab Automation Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil Lab Automation Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina Lab Automation Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia Lab Automation Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Lab Automation Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Lab Automation Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Lab Automation Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa Lab Automation Sales by Countries (2017-2027)
8.7.4. Middle East and Africa Lab Automation Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Lab Automation Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Lab Automation Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt Lab Automation Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Lab Automation Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa Lab Automation Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.10. Rest of Middle East and Africa
8.7.10.1. Rest of Middle East and Africa Lab Automation Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa Lab Automation Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Tecan
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. Sales, Revenue and Market Share
9.2. Perkinelmer
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. Sales, Revenue and Market Share
9.3. Thermo Fisher Scientific
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. Sales, Revenue and Market Share
9.4. Agilent Technologies
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. Sales, Revenue and Market Share
9.5. Danaher
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. Sales, Revenue and Market Share
9.6. Qiagen
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Sales, Revenue and Market Share
9.7. Roche
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. Sales, Revenue and Market Share
9.8. Siemens
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. Sales, Revenue and Market Share
9.9. Eppendorf
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. Sales, Revenue and Market Share
9.10. Biomérieux
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. Sales, Revenue and Market Share
10. Global Lab Automation Market Competition, by Manufacturer
10.1. Global Lab Automation Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Lab Automation Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Lab Automation Price by Manufacturer (2017-2017)
10.4. Top 5 Lab Automation Manufacturer Market Share
10.5. Market Competition Trend
11. Lab Automation Market Forecast (2027-2023)
11.1. Global Lab Automation Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Lab Automation Market Forecast by Regions (2027-2023)
11.2.1. North America Lab Automation Market Forecast (2027-2023)
11.2.1.1. United States Lab Automation Market Forecast (2027-2023)
11.2.1.2. Canada Lab Automation Market Forecast (2027-2023)
11.2.1.3. Mexico Lab Automation Market Forecast (2027-2023)
11.2.2. Europe Lab Automation Market Forecast (2027-2023)
11.2.2.1. Germany Lab Automation Market Forecast (2027-2023)
11.2.2.2. United Kingdom Lab Automations Market Forecast (2027-2023)
11.2.2.3. France Lab Automation Market Forecast (2027-2023)
11.2.2.4. Russia Lab Automation Market Forecast (2027-2023)
11.2.2.5. Italy Lab Automation Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Lab Automation Market Forecast (2027-2023)
11.2.3. Asia-Pacific Lab Automation Market Forecast (2027-2023)
11.2.3.1. China Lab Automation Market Forecast (2027-2023)
11.2.3.2. Japan Lab Automation Market Forecast (2027-2023)
11.2.3.3. Korea Lab Automation Market Forecast (2027-2023)
11.2.3.4. India Lab Automation Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Lab Automation Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Lab Automation Market Forecast (2027-2023)
11.2.4. South America Lab Automation Market Forecast (2027-2023)
11.2.4.1. Brazil Lab Automation Market Forecast (2027-2023)
11.2.4.2. Argentina Lab Automation Market Forecast (2027-2023)
11.2.4.3. Columbia Lab Automation Market Forecast (2027-2023)
11.2.4.4. Rest of South America Lab Automation Market Forecast (2027-2023)
11.2.5. Middle East and Africa Lab Automation Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Lab Automation Market Forecast (2027-2023)
11.2.5.2. UAE Lab Automation Market Forecast (2027-2023)
11.2.5.3. Egypt Lab Automation Market Forecast (2027-2023)
11.2.5.4. Nigeria Lab Automation Market Forecast (2027-2023)
11.2.5.5. South Africa Lab Automation Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Lab Automation Market Forecast (2027-2023)
11.3. Lab Automation Market Forecast by Equipment & Software (2027-2023)
11.3.1. Global Lab Automation Sales Forecast by Equipment & Software (2027-2023)
11.3.2. Global Lab Automation Sales Market Share Forecast by Equipment & Software (2027-2023)
11.4. Lab Automation Market Forecast by Application (2027-2023)
11.4.1. Global Lab Automation Sales Forecast by Application (2027-2023)
11.4.2. Global Lab Automation Sales Market Share Forecast by Application (2027-2023)
11.5. Lab Automation Market Forecast by End User (2027-2023)
11.5.1. Global Lab Automation Sales Forecast by End User (2027-2023)
11.5.2. Global Lab Automation Sales Market Share Forecast by End User (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Lab Automation Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
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Demand Side |
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Primary Data Sources |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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