Market Trends of Automated Liquid Handlers Industry
This section covers the major market trends shaping the Automated Liquid Handlers Market according to our research experts:
Clinical Diagnostics to Witness Significant Growth
- Automation in medical laboratories has been witnessing an increasing trend, including research and diagnostic laboratories, such as clinical chemistry, hematology, and molecular biology. Modular laboratory automation is widely employed in clinical diagnostics for various applications that include sample preparation, distribution, screening, and archiving. Further, year to year, growth in funding provided by NIH (National Institutes of Health) in clinical research is significantly driving the market.
- Clinical diagnostics have been proven beneficial in treating infectious and chronic disease conditions. World health organization (WHO) estimates that chronic disease conditions, like cardiovascular diseases, cancer, and respiratory diseases, are responsible for about 38 million people every year, accounting for 62% of all deaths worldwide.
- Moreover, according to the National Institutes of Health, clinical research funding in 2022 is expected to be around 18.32 billion US dollars, which is expected to drive market growth in the future.
- Statistics from American Heart Association indicate that about 2,300 Americans die of cardiovascular diseases each day, an average of 1 death every 38 seconds, thus indicating the need to treat them and find a solution via clinical diagnostics research.
- According to Roche Holding AG, a leading pharmaceutical company, clinical diagnostics play a crucial role in disease prevention, detection, and management. Though they account for just 2% of healthcare spending, they influence roughly two-thirds of clinical decision-making. Implementation of automation for clinical diagnostics is quite challenging as the processes need continuous, high-quality customer service. This is very important to obtain reliable test results and to provide patient safety.
- Further, in May 2022, according to data from the Ministry of Commerce and Industry, the hospitals and diagnostic centers sector in India experienced a 39% increase in Foreign Direct Investment (FDI) fund infusion during the fiscal year 2021-22, with fund infusion totaling approximately USD 697.5 million, this is expected to provide positive boost to the market growth.
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North America Accounts For Largest Market Share
- Automated liquid handling solution providers in North America continuously innovate to integrate a maximum number of clinical equipment. Further, according to the Foundation-Keybridge Equipment & Software Investment Momentum Monitor, US investment in clinical equipment increased at a 0.7% annualized rate in Q2 2021 and was up 19% year over year in August 2021.
- Besides, the United States faces a shortfall in laboratory scientists and lab personnel, which is expected to spearhead lab automation across the country. The Department of Labor and Statistics predicts a future shortage of more than 150,000 clinical laboratory scientists exacerbated by a wave of retirements that would see much-qualified personnel leave the workforce over the coming years. Around 5,000 American lab professionals enter the labor pool each year, less than half of the approximately 12,000 workers a year necessary to meet the rising demand for their services.
- Due to the developments in the field of R&D, many public institutions are expected to enhance their laboratory capabilities across the country, boosting the demand for lab automation equipment. For instance, final commissioning is underway at the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID) in Fort Detrick in Frederick, Maryland. The building is anticipated to be open for occupancy in 2021. This 835,000-square-foot building is expected to serve as the lead facility for the U.S. Biological Defense Research Program.
- Furthermore, strict regulations imposed by the U.S. government and the FDA, along with the growing demand in the diagnostic market with the increasing emphasis on drug discovery and research laboratories owing to the rising presence of various diseases such as cardiovascular diseases and neurological diseases in the region, fueled the demand of drug discovery and clinical diagnostics sector.
- New lab infrastructure setup has been accelerated in the region. For instance, in April 2021, Analytik Jena, a leading provider of high-end analytical measuring technology, announced the opening of its applications lab within the Endress+Hauser campus. The lab aimed to offer a centralized location in the United States for in-house customer support and demonstrations. This lab is set to provide demos to showcase the precision and accuracy of Analytik Jena instruments in liquid handling and automation, chemical analysis, and life science groups.
- The trend towards new software innovation solutions and expansion has translated the demand for automated liquid handlers market in the region, leading to dominating the North American and the global markets.
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