The global lab and pharmacy automation market is driven by product innovations, time efficiency, and operational efficiency. The market was valued $5,517.6 million in 2013, and is estimated to be $8,724.9 million by 2018, at a CAGR of 9.60%.
The report ‘Global Lab and Pharmacy Automation Market Forecast, from 2008-2018’, analyzes the market by segments, namely lab automation and pharmacy automation. The lab automation market accounted the largest share with 58.4% in 2013, and is expected to reach a value of $4,419.8 million by 2018. This growth can be attributed to the wide usage of automated liquid handling systems in research labs. The increasing demand for accuracy, safety, industry standards, and competency in the pharmacy environment by regulatory authorities, manufacturers, healthcare professionals, and consumers has forced the growth of pharmacy automation market.
North America is the largest market for lab and pharmacy automation holding 58.5% market share in 2013, and is expected to increase its value by $5,231.7 million by 2018, followed by Europe and Asia. The growth of North American market is likely to be driven by the increasing stringent rules and regulation in this sector.
Asia is witnessing the highest growth with maximum CAGR of 10.40% for lab and pharmacy automation market. The growth of the Asian market is likely to be driven by rising labor costs compelling Asian medical industry to opt for automation and rising research related activities. Moreover, the growth is driven by improving healthcare facilities in countries like Singapore, Malaysia, and Japan.
The report also provides an extensive competitive landscaping of companies operating in this market. The key players of the market covered in this report are Pyxis Corp, Parata Systems, McKesson, ScriptPro, Danaher Corp., PerkinElmer Inc., Tecan Group Ltd., and Thermo Fisher Scientific Inc.
Along with the market data, you can also customize MMM assessments that meet your company’s specific needs. Customize to get comprehensive industry standard and deep-dive analysis of the following parameters:
- Usage pattern (in-depth trend analysis) of products (segment-wise)
- Product matrix which gives a detailed comparison of product portfolio of each company mapped at country and sub-segment level
- End-user adoption rate analysis of the products (segment and country wise)
- Comprehensive coverage of product approvals, pipeline products, and product recalls
- Fast turn-around analysis of researchers/pharmacists response to market events and trends
- Researchers/Pharmacists opinion about products from different companies
Brand/Product Perception Matrix
- Comprehensive study of customer’s perception and behavior through our inbuilt social connection tool checking the virality and tonality of blogs
- Analysis of overall brand usage and familiarity and brand advocacy distribution (detractor/neutral/familiar)
Alternative Products: Impact analysis
- MMM’s healthcare decision making Quadrant is an innovative and useful quadrant for vendors who wish to analyze the potential growth markets based on parameters like patient dynamics (patient pool, epidemiology of disease, preference towards surgeries/alternative therapies) and macroeconomic indicators (number of hospitals and orthopedic clinics, laboratories, pharmacists, and healthcare expenditure).
1.1 Analyst Insights
1.2 Market Definitions
1.3 Market Segmentation & Aspects Covered
1.4 Research Methodology
2 Executive Summary
3 Market Overview
4 By Endusers
4.2 Research labs
4.4 Pharmaceutical companies
5 By Geographies
5.1 North America
5.4 Rest of World
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Asia Lab and Pharmacy Automation
The Asian lab and pharmacy automation market, mainly driven by product innovations, time efficiency, and operational efficiency, was valued at $550.4 million in 2013 and is expected to reach $903.2 million by 2018, growing at a CAGR of 10.4% during the forecast period.
Europe Lab and Pharmacy Automation
The European lab and pharmacy automation market, mainly driven by product innovations, time efficiency, and operational efficiency, was valued at $1,589.0 million in 2013 and is expected to reach $2,350.5 million by 2018, growing at a CAGR of 8.1% during the forecast period.
North America Lab and Pharmacy Automation
The North American lab and pharmacy automation market, mainly driven by product innovations, time efficiency, and operational efficiency, was valued at $3.23 million in 2013 and is expected to reach $5.23 million by 2018, growing at a CAGR of 10.1% during the forecast period.