Fast Market Research announces the availability of the new TechNavio report, "Global Laboratory Automation Market 2015-2019", on their comprehensive research portal

Boston, MA -- (SBWire) -- 09/08/2015 --Laboratory automation is the use of technology and equipment in laboratories to conduct routine or tedious processes including state-of-the-art workflows in research, quality assurance, and diagnostics. The automation enables robust and faster throughput and analysis of a large number of samples at one go. Laboratory automation finds applications in the areas of both clinical testing and drug discovery; a laboratory automation system could either be a standalone or an integrated system.

Technavio's analysts forecast the global laboratory automation market to grow at a CAGR of 5.48% over the period 2014-2019.

Get More Details on this Report and a Full Table of Contents at Global Laboratory Automation Market 2015-2019

Commenting on the report, an analyst from Technavio's team said: "The growing adoption of microfluidic chips or lab-on chips is one of the most significant engineering advances in recent years. Microfluidic chips are used in advanced biological research such as proteomics, genomics, and metabolic research. The global microfluidic chips market is growing because of their increased use in major laboratories worldwide. This is expected to drive the development of new laboratory automation systems over the next few years. This, in turn, should drive the growth of the global laboratory automation market during the forecast period."

According to the report, the drug discovery market should experience slow growth as many pharmaceutical companies have cut down their R&D spending. However, this should not have a significant effect on the automation market in drug discovery laboratories as the need to streamline drug discovery and research processes continues. Automation systems help in identifying different compounds using various combinations in minimal time. They reduce the compound rejection rate through high-throughput screening. Even by having some part of the laboratory process automated, companies can significantly cut down costs and time incurred in drug discovery research.

Further, the report states that reduction in R&D investment will reduce the establishment of new R&D facilities for drug discovery and innovation, thus negatively affecting the demand for automation systems.

The key players in the Global Laboratory Automation Market are Danaher, PerkinElmer, Tecan Group and Thermo Fisher while other prominent vendors include Abbott Diagnostics, Agilent Technologies, Aurora Biomed, Becton, Dickinson and Co., bioMerieux, Biotek Instruments, Brooks Automation, Cerner, Eppendorf, Hamilton Storage Technologies, LabVantage Solutions, Labware, Olympus, Qiagen, Roche Holding, Sartorius Stedim-Biotech, Siemens Healthcare, Sotax and Xtri

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit - http://www.technavio.com/report/laboratory-automation-market

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