Rapid increase in heavy investments for the purpose of research and development, rising strategic consolidation amongst the end-users and service providers and growing preference for the branded products are some of the major factors contributing significantly towards the growth of lab automation market across the globe. Apart from this, ease in the FDA clearance, rising academic research events, beneficial government policies as well as rapid increase in the reliance of researchers and scientists on automation technology are some other factors contributing towards expansion of lab automation market.
A research company has been keenly working on a report analysis based on lab automation market, which now enables the analysts to disclose approximate facts and figures regarding the global market. Report analysis concludes that lab automation market will be developing at 9.6% CAGR over the forecast period, 2017-2027. In addition, lab automation market is expected to reach an evaluation of over US$ 3Bn by 2027-end.
Key companies operating in the lab automation market across the globe are Abbott Laboratories, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, and Agilent Technologies, Siemens Healthcare, Transcriptic, Inc., Perkin Elmer, Inc. and Danaher Corporation. Manufacturers and key companies are planning to increase their focus on innovating and launching novel products, which would help them in meeting their business development plans, thereby expanding customer-base worldwide.
Abbott Laboratories Makes Heavy Investment in Bigfoot Biomedical
Manufacturers and key companies can note that Abbott Laboratories has taken immense efforts in making heavy investments in the start-up company named Bigfoot Biomedical for the purpose of developing diabetes care systems and devices. This heavy funding partnership will enable Bigfoot Biomedical in developing a diabetes platform, which will be providing everything but insulin. Manufacturers and key companies can plan to make heavy investments in Abbott Laboratories as it holds big plans to develop innovative techniques with regards to lab automation.
Apart from this, Bigfoot Biomedical has been planning to develop glucose monitors, pumps and insulin pens, thereby connecting them with the smartphone technology. Bigfoot Biomedical and Abbott Laboratories will be incorporating the FreeStyle Libre and novel continuous glucose monitor of Abbott Laboratories with the insulin delivery systems of Bigfoot Biomedical. The focal point here is that both the companies are planning to automate the dangerous, time-consuming and challenging process.
Insights on Visions of Abbott Laboratories & Bigfoot Biomedical
The notable factor here is that Abbott Laboratories and Bigfoot Biomedical are taking keen interest in developing devices that are easy-to-use and can be connected to the smartphones. Bigfoot Biomedical has also been taking keen interest in developing strategies that would be easier for the patients to manage and for the doctors to write; prescriptions. Making heavy investments over the current supply partnership for Libre has given Bigfoot Biomedical a major chance to integrate system of Abbott Laboratories for the purpose of lab automation.
Holistically, both the companies will be developing more advanced and innovative system, which helps in measuring glucose levels as well as adjusts insulin levels by its own. Bigfoot Biomedical soon will be working on buildings and will be starting clinical trials that help in marketing schemes.
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