The market for laboratory automation was worth nearly $2.6 billion in 2011 and $2.8 billion in 2012, and will grow at a 6.3% compound annual growth rate (CAGR) to reach $3.8 billion in 2017.
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SCOPE OF REPORT
A particular focus will be placed on the biotechnology, pharmaceutical, clinical diagnostics and academic science industries, as demand for laboratory automation is strongest in these fields. Academic science is unique, as it entails both users of laboratory automation and creators of new uses for laboratory automation through the dissemination of new techniques and ideas through research. Staffing shortages throughout the clinical diagnostics industry have driven the demand for more automation to reduce staffing demands. New applications developed by both industry and academia, along with the demand for new drugs and clinical diagnostics, are noted drivers of demand in the clinical diagnostics, biotechnology and pharmaceutical industries.
Suppliers of laboratory automation will be discussed in terms of market share, product types and geography when possible. A focus will be placed on the integration of various product types into different market segments because similar technologies may be used in various market sectors, causing usage and scale to vary. Also, regulatory policy will be discussed, as decisions by the U.S. Food and Drug Administration (FDA) and other regulatory bodies can drive demand by approving new uses of technology and by creating market opportunities for companies looking to innovate and reduce laboratory operation costs. This regulatory policy can drive the market penetration of certain products and technologies, therefore driving demand.
Specifically excluded from this analysis is the demand for pharmaceuticals, diagnostics and other laboratory testing outside of the scope to which it generates demand for laboratory automation. Products used in the support of laboratory automation, specifically consumables used during laboratory automation, are excluded to the extent of market size and profitability of said products.
Todd Graham is a seasoned laboratory professional who has experience in an extensive number of segments. Working in the biotechnology industry for more than six years in numerous laboratory roles and organization types has given him a unique insight into how the various sectors of the laboratory industry work. He has also developed and applied numerous different types of laboratory automation, giving him a direct perspective on the transformational potential of this technology.