Market Research Blog

[250 Pages Report] The global cancer tissue diagnostics industry is hugely driven by sheer number of biomarkers used for early cancer detection from blood or plasma, while prevalence of lung, breast and prostate cancers has been another constant driving factor to the demand growth. Despite getting battered by the outbreak of the COVID-19, the industry players are coming back to track with the increase in investment in research & development (R&D) activities and focus on launching wider variety of products.

[200 Pages Report] FMI, in its research report, has covered the Gamma Knife market in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America Gamma Knife market, valued at US$ 46.3 Mn in 2014 will expand at a CAGR of 7.5% through 2025, reaching a valuation of over US$ 100 Mn by 2025.

Future Market Insights (FMI) provides vital insights on the key regions in the global Gamma Knife market in its latest report, “Gamma Knife Market: Global Industry Analysis and Opportunity Assessment 2015-2025”. According to the report, Asia Pacific Excluding Japan (APEJ) will emerge as the most lucrative region for the global Gamma Knife market by the end of 2025.

Future Market Insights, a market research and competitive intelligence provider, analyses that market demand for Digital Patient Monitoring Systems is expected to rise rapidly on the back of increasing demand for remote patient monitoring activities and increasing penetration in developing countries.

According to the study, the global Digital Patient Monitoring Systems market was valued at US$ 73.7 Bn in 2021, and it is expected to expand at a CAGR of 17.2% over the assessment period of 2022-2032 to reach 470 Bn by 2032. Owing to the significant growth in diabetic population which is expected to reach 701 Mn by 2045, diagnostics monitoring devices demand is projected to upscale continuously.

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The market for Digital Patient Monitoring Systems is dominated by companies such as Abbott, Athenahealth, Biotronik SE & Co. KG, FitBit and MedTronic. North America leads the market for dynamic patient monitoring equipment as a result of its substantial R&D capital, the incidence of infectious diseases, safety concerns, and technological advancements in these products. The ASEAN region is experiencing a significantly growing market potential in the foreseeable future due to increasing smartphone-install base.

Digital Patient Monitoring Systems are used extensively for diagnostic purposes.  Diagnostic Monitoring Devices segment of Digital Patient Monitoring Systems is projected to increase at a CAGR of around 14.8% over the decade (2022-32). The rising prevalence of diseases such as diabetes, obesity, cancer, and others, as well as the growing geriatric population, are propelling the segment’s growth.

Key Takeaways from Market Study

• The Digital Patient Monitoring Systems market is anticipated to add 11.7X value by 2032.
• The market is expected to expand at a considerable growth rate of 17.2% and be valued at US$ 470 Bn by 2032.
• Abbott, Medtronic and Athenahealth are the top giants in Digital Patient Monitoring Systems manufacturing.
• Based on product type, diagnostic devices accounted for around 62% of the global market share in 2021.

• The MedTech behemoth, Medtronic has joined forces with Rockley Photonics to develop a new wearable type digital monitoring device in March 2022. Launching innovative Digital Patient Monitoring Systems is expected to be a future trend.

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“The spread of COVID-19 pandemic has prompted remote patient monitoring activities, as well as the use of mHealth apps and telehealth devices, while also catalysing demand for digital medicine. This has resulted in increased demand for digital patient monitoring equipment and created the market for Digital Patient Monitoring Systems has enormous growth potential.” says a Future Market Insights analyst.

More Valuable Insights Available

Future Market Insights , in its new offering, presents an unbiased analysis of the global Digital Patient Monitoring Systems market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.The study reveals essential insights by Product Type (Diagnostic and Therapeutic Devices), by Type ( Wireless Sensor Technology, mHealth, Telehealth, Wearable Devices, and Remote Patient Monitoring) and across key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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Key Segments Covered in Digital Patient Monitoring Systems Industry Survey

Digital Patient Monitoring Systems Market by Product Type:

• Diagnostic Monitoring Devices
  • Vital Sign Monitors
  • Sleep Monitors
  • Fetal Monitors
  • Neuromonitors
  • Other Diagnostic Monitoring
• Therapeutic Monitoring Devices
  • Insulin Monitors
  • Respiratory Monitors
  • Other Therapeutic Monitors

Digital Patient Monitoring Systems Market by Type:

• Wireless Sensor Technology
• mHealth
• Telehealth
• Wearable Devices
• Remote Patient Monitoring

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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As per Future Market Insights’ latest industry analysis, the U.S. animal model market was valued at over US$ 921.9 Mn in 2021 and is anticipated to exhibit a CAGR of close to 4.1% over the forecast period (2022-2032).

Animal models are predominantly used to gather information regarding the disease and its prevention, diagnosis, and treatment. They are being used to resolve a wide range of scientific concerns, ranging from basic science to the discovery and evaluation of new vaccines and therapies. Animals are used because of the similarities in biology across most mammals.

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Personalized medicine is also known as precision medicine which utilizes data about a specific patient or an individual’s genes to plan treatment for a disease. Animal models can play important role in the development of new approaches for personalized medicine. Increasing adoption of personalized medicine will drive sales of animal model in the forthcoming years.

Toxicity testing in animals is done to discover potential side effects from an agent’s exposure and to generate dose-response relationships. Animal testing is important for the early detection of the potential risk to humans or as models to study the causes, pathogenesis, progression, and treatment of diseases.

Organizations and legislations such as the Federal Food, Drug, and Cosmetic Act (FFDCA), Environmental Protection Agency (EPA), Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), and Organization for Economic Co-operation and Development (OECD) determine the testing guidelines for toxicity testing on animals.

Some factors such as the high production volume of chemicals testing in the U.S., increasing generation and utilization of novel GM animal strains in toxicity studies, and the development and attempted validation of several animal tests to screen chemicals for endocrine (hormone)-disrupting activity are expected to drive the growth in the market.

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Key Takeaways:

• Based on species, the mice model segment is expected to hold nearly 62.6% of the total market share 2022, with sales growing at a 5.1% CAGR.
• In terms of therapeutics, the oncology accounted for more than 32.0% of the total market share in 2021, and the trend is expected to continue over the forecast period.
• By application, sales in the drug discovery/development segment commanded 65.4% of the total market share in 2021.
• Based on end user, the academic & research institutes segment accounted 36.6% of the total market share in 2021.

Key Players:

• Charles River Laboratories
• The Jackson Laboratory
• Taconic Biosciences, Inc.
• Genoway
• Envigo (Inotiv, Inc.)
• Marshall BioResources
• Janvier Labs
• Applied stem cells
• Biocytogen
• Transposagen Biopharmaceuticals, Inc. (Hera Bio Labs)
• Cyagen
• Ingenious targeting labs
• Crown Bioscience Inc. (JSR Corporation).
• Harbour Biomed
• Sinclair Bio Resources
• Alpha Genesis Inc.
• Creative Animodel
• DaVinci Biomedical Research Products, Inc

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Market Competition

Key players operating in the U.S. animal model market are expanding their business through partnerships and acquisitions with other companies to improve their global footprint. Following are a few examples of acquisitions:

• In October 2021, The Jackson Laboratory completed the acquisition of Charles River Laboratories Japan’s Research Models & Services (RMS), which allows advancement in the company’s scientific improvements in basic research and drug discovery.
• In November 2021, Inotiv, Inc., which is a leading contract research organization (CRO) completed its acquisition of Envigo RMS Holding Corp. to expand its R&D sector.
• In February 2021, Biocytogen completed the acquisition of a third Beacon Optofluidic system. This acquisition expanded Biocytogen’s service platform in the Boston area.

What Does the Report Cover?

Future Market Insights offers a unique perspective and actionable insights on the animal model market in its latest study, presenting a historical demand assessment of 2017–2021 and projections for 2022– 2032.

The research study is based on the species – (rats, mice, pigs, rabbits, monkeys, dogs, cats, other species), therapeutics- (metabolic diseases, cardiovascular diseases, neurological diseases, and oncology), application (drug discovery/development and basic & applied research) end-user (academic & research institutes, pharmaceutical companies, biotechnology companies, and CROs) and across seven key regions of the world.

Future Market Insights’ Expertise in Life Sciences and Transformational Health

Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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[319 Pages Report] A new report says the wearable healthcare devices market is anticipated to grow at a CAGR of 13% from $16 billion in 2021 to $61 billion by 2032.

A report from Future Market Insights observes that the worldwide wearable healthcare market is expected to reach $30 billion by 2026. From 2022 to 2032, it is predicted to increase at a compound annual growth rate (CAGR) of 13%.

The wearable healthcare devices market is expected to be influenced by the rise of businesses such as home healthcare and remote patient monitoring devices. In addition, the wearable healthcare devices market is projected to be impacted by an increased focus on fitness and healthy lifestyle orientation.

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The COVID-19 pandemic has elevated the importance of wearable medical devices in the healthcare market. As a result, various firms working on wearable medical devices from across the world are joining the wearable healthcare devices market, where wearable medical equipment can detect early warning symptoms of viral infection. For example, the Ava Bracelet, originally designed as a fertility tracker, is now being utilized to aid in the fight against the coronavirus. This wristband monitors heart rate variability, breathing rate, and skin temperature and can monitor viral symptoms. As a consequence of this, the demand for wearables is anticipated to grow.

In the wearable healthcare devices market, the adoption of new sophisticated tools and technologies such as AI and 5G is predicted to give high wearable healthcare devices growth potential.

In deciding compensation for mobile healthcare, national agencies play a significant role. Federal regulations in several EU member states define medical treatment in terms of the patient and doctor’s physical presence, which has an impact on payments for mobile and remote healthcare solutions. Such regulations slow the adoption of wearable healthcare devices in the healthcare sector.

Clinical device manufacturers in the United States and Europe confront significant hurdles from patent reform and patent trolls. Patent trolls are firms that buy patents to collect royalties from businesses that purportedly infringe on patents owned by patent assertion entities or non-practicing organizations (NPEs). The key to success in the fast-developing clinical-grade wearable business is to protect patients.

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The pharmacy category held the highest proportion of the wearable healthcare devices market in 2020. The wearable healthcare devices market expansion is being driven by an increase in the elderly population and, as a result, an increase in the incidence of chronic illnesses.

Diagnostic instruments dominated the wearable healthcare devices market. However, the category is likely to grow as people become more aware of the capacity of neurological wearables to continually measure people’s cognitive abilities. At the same time, they go about their daily lives.

Due to the rising intake of therapeutic devices, the therapeutic device sector is expected to grow at the quickest rate throughout the forecast period.

Smartwatches, which allow for monitoring a variety of indicators such as mobility, respiration rate, pulse rate, and Bluetooth and cloud connection, are expected to drive wearable healthcare devices market growth in this category throughout the forecast period.

Due to the rise in prevalence of cardiovascular disease, diabetes, and cancer in this area.

“The rises in chronic illnesses that require regular monitoring, as well as the development of modern healthcare infrastructure, are expected to propel wearable healthcare devices market expansion throughout the forecast period.”

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Key Takeaways:

· The diagnostic instruments category held the largest wearable healthcare devices market share, accounting for 62.5% of total sales.

· The strap/clip/bracelet category dominated the wearable medical devices market, accounting for 51.2% of total sales.

· The home healthcare sector dominated the wearable healthcare devices market, accounting for 53.5% of total revenue.

· North America held the largest wearable healthcare devices market share, accounting for 38.1% of total sales.

Explore Wide-ranging Coverage of FMI’s Healthcare Landscape

Portable Medical Devices Market

Pain Management Devices Market

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Standing at a valuation of US$ 725 Mn in 2022, the global hematology diagnostics market is projected to reach US$ 1.2 Bn by the end of 2031. Demand for hematology diagnostics is anticipated to increase at a CAGR of 5.8% from 2022 to 2031.

The Hematology Diagnostics Market has witnessed the advent of a wide range of hematology testing solutions that combine the attributes of strainer, slider maker, and cell counter. Integrated solutions have been gaining ground in the hematology diagnostics market, as growing work load has prompted pathologists to adopt methods with precision and accuracy for improved results.

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According to a recent study of Future Market Insights (FMI), the hematology diagnostics market recorded a valuation of approximately US$ 3,500 Mn in 2017. Growing popularity of modern day analyzers that offer five to seven parts white cell differential analysis, along with additional information on cell population data (CPD), large unstained cell population, and granularity index, will continue to drive growth of the hematology diagnostics market.

The study opines that the hematology diagnostics market will continue to remain a consolidated landscape, with few established players collectively accounting for a larger share of the market. Robust portfolio, and stronger distribution footprint of these leading players, including F. Hoffmann-La Roche Ltd., Beckman Coulter, Inc., Abbott Laboratories, and Sysmex Corporation, will continue to uphold their lead in the hematology diagnostics market in the upcoming years.

Key players in the hematology diagnostics market are focusing on strategic partnerships with vendors having innovative technologies, to gain a greater share with more diverse portfolios. Other leading players profiled in the report on the hematology diagnostics market include HORIBA, Ltd., HemoCue AB, Mindray Medical International Limited, Danaher (Beckman Coulter, Inc.), Bio-Rad Laboratories, Inc., and Siemens Healthineers.

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Emphasis on Effective Hematology Diagnostics to Surge in Line with Prevalence of Blood Cancer

There has been a marked rise in the prevalence of blood disorders, and the pervasiveness of these ailments will continue to surge in the foreseeable future, according to the report. This has further driven the essentiality of hematology diagnostics with greater efficacy, thereby complementing new product developments and technological advancements in the hematology diagnostics market worldwide.

Recent studies from associated regulatory authorities estimated that, in the US alone, number of individuals affected with blood-related disorders reached nearly 173,000 in 2017. This has further led the healthcare institutes and governments to take up initiatives for increasing awareness of these disorders and the availability of related management & treatment procedures, which in turn has led the demand and adoption of hematology diagnostics in the recent past.

Point-of-care testing has also witnessed a notable rise in demand, with technological advancements leading to results with higher accuracy and convenience. Easy availability of myriad test methods for hematology diagnostics has also been a key factor driving growth of the market. The study estimates that the hematology diagnostics market

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Gains from Hematology Diagnostics Market in Developed Markets to Remain Higher

The study anticipated Europe and North America to remain the most lucrative markets for the hematology diagnostics market. Relatively greater prevalence of blood-related disorders, higher awareness about the existing screening techniques for blood disorders, and rising expenditure on health & wellness by consumers, allude greater gains from the hematology diagnostics market in Europe and North America.

Sensing varied requirements of the healthcare settings and the distinctions in the blood ailments, key players in the hematology diagnostics market have introduced a wide range of hematology instruments, According to the study, hematology analyzers currently accounts for the largest share in the hematology diagnostics market.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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With increasing incidence of chronic wounds globally, Future Market Insights (FMI) projects the advanced wound management market to exceed US$ 6.5 Bn between 2021-2031.

In 2020, the unprecedented COVID-19 outbreak dampened sales in the advanced wound management market. However, with recovery of research and development initiatives focusing on solutions for optimal wound care, demand in the advanced wound management market will rise at a steady pace during the assessment period.

Incorporation of biomaterials such as alginates and silver in topical wound healing treatments will further drive sales. These developments are encouraging key market players to innovate effective advanced wound healing solutions.

Product developments in advanced wound dressing segment such as hydrogels, collagen, and hydrocolloids are on cards. Apart from these products, emergence of negative pressure wound therapy devices will boost sales in the market.

Besides this, government-backed initiatives such as public health insurance schemes in counties including the U.S., the U.K., and China will create lucrative growth opportunities in the advanced wound management market.

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Key Takeaways from the Advanced Wound Management Market Analysis

• Advanced wound dressing is anticipated to dominate the product segment.
• Based on application, chronic ulcers will witness increasing adoption of advanced wound management.
• Hospitals, followed by clinics are expected to account for maximum market sales.
• The U.S. is projected to witness high demand in the advanced wound management market, owing to increasing number of diabetic patients in the country.
• The U.K. will emerge as a lucrative market with rapid product developments by leading players.
• China will exhibit high demand for advanced wound management due to increasing incidence of chronic wounds and reimbursements for medical expenditure.
• Advanced wound management market in India is expected to grow at a steady pace, owing to growing cases of road accidents and chronic wounds.

“Increasing research and development activities aimed at offering advanced wound healing devices and fast-track approvals for novel advanced wound management products are anticipated to propel sales in the market through 2031,” says the FMI analyst.

Growing investments in the healthcare sector, coupled with innovations in advanced wound management products are anticipated to positively shape demand in the upcoming years.

Competitive Landscape

As per FMI’s analysis, ConvaTec Group Plc. Coloplast A/S, Molnlycke Health Care AB, 3M Healthcare, and Smith & Nephew PLC. are among the leading players in the market, accounting for approximately 3/4^th of the market share.

Key players operating in the advanced wound management market are actively focusing on product innovations, strategic collaboration, mergers, acquisitions, and government approvals as a part of their growth strategies. For instance:

• In July 2021, Ethicon Inc., a part of the Johnson & Johnson Medical Devices Company, announced the U.S. Food and Drug Administration (FDA) has granted Breakthrough Designation for the company’s transbronchial microwave ablation technology. The advanced technology uses robotic-assisted bronchoscopy for the treatment of debilitating diseases and conditions.
• In July 2021, Illinois-based Medline Industries announced its plan to open a new distribution center worth US$ 100 Mn in the Katy area. The new distribution facility will bring the company’s total employee strength to around 375 employees.

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Advanced Wound Management Market by Category

By Product Type: 

• Advanced wound dressings
  • Alginates
  • Collagens
  • Films
  • Foams
  • Hydrocolloids
  • Hydrofibers
  • Hydrogels
• Wound contact layers
• Superabsorbent dressings
• Negative pressure wound therapy devices
  • Standalone NPWT devices
  • Portable NPWT devices
  • Single-use disposable NPWT devices
  • NPWT accessories

By Application Type:

• Chronic ulcers
  • Venous leg ulcers
  • Diabetic foot ulcers
  • Pressure ulcers
• Non-healing surgical wounds
  • Traumatic wounds
  • Burn cases

By End-User Type:

• Hospitals
• Clinics
• Ambulatory surgical centers
• Skilled nursing facilities

By Region:

• North America
• Latin America
• Eastern Europe
• Western Europe
• Asia Pacific Excluding China (APEC)
• China
• Middle East & Africa (MEA)

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Get More Related Insights:

Advance Wound Dressing Market Size was valued at $8,978.0 million in 2020, and is projected to reach $14,190.5 million by 2030, registering a CAGR of 4.8%

Advance Wound Care Market Share was valued at US$ 10.3 Bn in 2020 and is expected to register a CAGR of 3.7% during the forecast period (2021-2031)

Wound Debridement Products Market Demand is expected to be valued at US$ 497.3 Billion in 2022

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[262 Pages Report] As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI), the global liquid biopsy market is expected to reach a market valuation of US$ 1,026 Mn in 2021.

With the introduction of innovative molecular diagnostic tests and growing demand from biotech and pharmaceutical companies, the market is poised to expand at a stellar 13.49% CAGR, reaching US$ 3,637 Mn by 2031.

Germany, India, and China will emerge as high growth potential markets, with increasing investments by the government for improving the healthcare infrastructure, which will create attractive opportunities to global biotech players for market expansion.

Growth of the liquid biopsy market is attributable to rising incidence of cancer across several countries, which is highlighting the pressing need for faster, simpler, and more convenient diagnostic procedures. Liquid biopsy procedures are minimally invasive and cost-effective, which is making them a favorable choice for cancer diagnosis procedures.

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“Increasing incidence of cancer, coupled with incorporation of latest technology in liquid biopsy for faster and more convenient diagnosis will continue to augment the market growth throughout the forecast period,” says the FMI analyst.

Besides this, increasing government-backed initiatives to support cancer research across the U.S., Japan, India and the UK will drive innovation and developments in liquid biopsy services. Also,  fast track approval from regulatory bodies for novel procedures will bolster the growth over the coming years.

Additionally, technological advancements such as the incorporation of machine learning and microchip-based liquid biopsy systems will further strengthen growth prospects in the market.

As per the market survey, counties including the U.S., the U.K, and Japan will be at the forefront of innovation and adoption of liquid biopsy services, owing to the presence of leading players and prevalence of numerous high-potential cancer research institutes.

Key Takeaways from the Liquid Biopsy Market Analysis

• Based on markers, circular tumor cells (CTC) are poised to emerge dominant in the forthcoming years.
• Blood samples will emerge as the most preferred sample type
• In terms of applications, liquid biopsy will be widely preferred for lung cancer diagnosis.
• Cancer institutes are expected to remain dominant end users, accounting for over 40% of the total revenue share.
• The U.S. will showcase high growth during the forecast period, due to the presence of major liquid biopsy product manufacturers.
• The U.K. will emerge as an avenue for product innovations and development, further solidifying growth prospects.
• Japan is anticipated to witness upswings in sales, owing to government-led cancer research initiatives.
• India is expected to showcase high demand for liquid biopsy products, owing to the increased funding by government and expansion of healthcare infrastructure.

Competitive Landscape

BIOCEPT, INC., Qiagen N.V., Trovagene, Inc, Janssen Global Services, LLC, MDxHealth SA, Natera, Inc, F. Hoffmann-La Roche Ltd, Silicon Biosystems, Pathway Genomics Corporation, and Sysmex Corporation are among top manufacturers of liquid biopsy products, as profiled by FMI. As per the market survey, tier-1 companies are anticipated to account for approximately 20-25% of the total market share.

Strategic collaborations, partnerships, and product innovations are some of the prominent growth strategies applied by leading market players to establish a strong foothold in the liquid biopsy market. For instance:

• In June 2021, Biocept Inc., collaborated with Quest Diagnostics, a New Jersey-based clinical laboratory, to offer laboratory services to Quest patients for its Target Selector NGS-based liquid biopsy lung cancer panel.
• In February 2021, Menarini Silicon Biosystems, a leading developer of liquid biopsy and single-cell technologies, launched its innovative CellMag product line for staining and detection of rare circulating tumor cells (CTCs).

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More Insights into the Liquid Biopsy Market Report

In its latest report, FMI offers an unbiased analysis of the global liquid biopsy market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of marker type (circulating tumor cells (CTC), circulating tumor nucleic acids (cTNA) and exosomes), sample type (blood, urine and other including plasma, saliva and CSF), application type (lung cancer, gastrointestinal cancer, prostate cancer, colorectal cancer, leukemia), end-users (hospitals, cancer institutes, academic institutes, and diagnostic centers) and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

Liquid Biopsy Market by Category

By Marker Type:

• CTCs (Circulating Tumour Cells)
• ctNA (Circulating tumor Nucleic Acids)
• Exosomes

By Sample Type:

• Blood
• Urine
• Others (Plasma, Saliva, CSF)

By Application Type:

• Lung Cancer
• Gastrointestinal Cancer
• Prostate Cancer
• Breast Cancer
• Colorectal Cancer
• Leukemia

By End-Users:

• Hospitals
• Cancer Institutes
• Academic Institutes
• Diagnostic Centers

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

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According to a recent market report published by Future Market Insights titled, ‘Lab Automation Market – Global Industry Analysis and Opportunity Assessment, 2017–2027’, the global lab automation market is expected to be valued at US$ 1,219.4 Mn in 2017, and is expected to register a CAGR of 9.6% from 2017 to 2027. Lab automation is increasingly being installed by various end users such as pharmaceutical companies, hospitals and diagnostic centers, educational institutions, contract research organizations (CROs), and research institutes. There has been an increase in the usage of lab automation components in hospitals and diagnostic centers, due to an increase in the demand for biochemistry devices.