Companiesandmarkets.com

Global laboratory automation market: North America region reaches $1 billion revenue in 2012

Press Release   •   Jun 14, 2013 15:31 BST

From pharmaceuticals to farms, laboratory automation is being used to reduce costs, improve accuracy, and increase output. With 2012 revenues of $1.0 billion in North America and upward growth projections for the next five to ten years, the once novel idea of laboratory automation is a growing trend.

Pharmaceuticals, clinical diagnostics, and academia have historically been the primary drivers of growth in this market. However, experts agree that future growth will come from the expansion of laboratory automation into new market segments.

Market segments such as forensics and agriculture are just two of the new segments expected to increase their use of laboratory automation over the next five years.

The market as a whole is expected to increase by $1.0 billion in the next five years. The Asian market alone is expected to double its 2010 expenditures on laboratory automation by 2017.

The pharmaceutical and biotechnology industries have already proven the benefits of laboratory automation. Laboratory automation allows these industries to ensure consistent quality, reduce operating expenses, and increase the speed to market of their new products.

Both industries are expected to continue the trend towards total laboratory automation over the next several years as a growing demand for diagnostics and pharmaceuticals drives the need for increased throughput.

For more information on the Global laboratory automation market, please click here: Global laboratory automation market

Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.