Global Diagnostic Laboratories Market Report 2020: COVID-19 Leading to Increasing Test Volumes and Renewed Focus on R&D to Drive Innovation

DUBLIN, Sept. 16, 2020 /PRNewswire/ -- The "Global Diagnostic Laboratories Market 2020: Smart Labs as Key Drivers for Digital Transformation" report has been added to ResearchAndMarkets.com's offering.

Robotic Automation, Internet of Things (IoT), and Artificial Intelligence (AI) Offering Growth Opportunities for Academic and Commercial Diagnostics Labs

This is an industry-first study on the topic that provides an introduction to the technology pillars and the ecosytem, covering use cases and growth opportunities. The report will serve as an essential resource for stakeholders in developing their digital transformation journey.

Diagnostic academic and commercial research labs suffer from cost pressures, given the ongoing Protecting Access to Medicare Act (PAMA) regulations and reproducibility issues, and are under productivity strain. The recent COVID-19 pandemic leading to increasing test volumes and renewed focus on research and development (R&D) to drive innovation will further increase the pressure.

This research report indicates that traditional solutions have focused primarily on tools and solution that fulfill the standard lab requirements and will remain inefficient as the industry undergoes digital transition, with data-driven initiatives at every stage. Increasing test volumes, cost pressures, and, in certain cases, distributed laboratories, compel traditional participants to leverage converging technologies such as robotics, AI, Big Data, IoT, and cloud technologies to shift from static, fragmented operations and tools to dynamic and value-driven practices.

The smart labs market includes proprietary robotic platforms, automated tools, Software-as-a-Service (SaaS), mobile apps, and other digital solutions that support operations, data management, and analytics across the value chain within diagnostic labs. For the purpose of this study, only these segments have been considered as part of the market.

The ecosystem for supporting the growth of smart labs is maturing; several technology start-ups and large commercial vendors are already developing products and solutions catering to the specific areas for pre/post-analytical operations, as well as allied areas that include smart procurement, remote monitoring, and predictive maintenance. While the immediate impact in the next 2-3 years is expected to be achieved through small modular instruments and systems, in the long run (5-7 years), companies that will look to integrate end-to-end solutions will see significant impact on efficiency, cost savings, and operational success, depending on their business objectives and performance metrics.

This analysis identifies the key application areas within the value chain that will see significant growth and, if addressed, can more than double the benefits that can be achieved using current instruments and workflow.

Key Issues Addressed

• What is a true smart lab?
• How do diagnostics academic and commercial labs become smart?
• What are the unique companies that are introducing innovative solutions for focused industry applications? What are the select use cases by major application areas?
• What are the immediate lucrative growth opportunities and applications?
• What are the critical success factors, challenges, and strategic imperatives that need to be considered for setting up smart labs?

Key Topics Covered:

1. Executive Summary

• Methodology
• Key Findings
• Research Scope
• Key Questions this Study will Answer
• Smart Labs - Overview
• 6 Pillars for Smart Labs
• Optimal Smart Lab Ecosystem
• Market Drivers and Restraints
• Major Growth Opportunities
• Competitive Smart Labs Ecosystem - Top Vendors
• Strategic Imperatives for Major Stakeholders

2. Market Overview

• Challenges in Laboratory Operations
• How Can Labs Become Smarter?
• Smart Labs - Definition
• Smart Labs Solutions Market
• Evolution of Smart Labs
• Smart Labs - Major Application Segments
• 6 Pillars for Smart Labs
• Optimal Smart Lab Ecosystem
• Example of Smart Lab Implementation - Vendor Capability
• Example of Smart Lab Implementation - Performance Improvement

3. Digital Technologies Impacting Smart Labs

• Internet of Things
• IoT - Key Companies to Watch
• Cloud Technology
• Cloud Technology - Key Companies to Watch
• Robotic Automation
• Robotic Automation - Key Companies to Watch
• Artificial Intelligence
• Artificial Intelligence - Key Companies to Watch
• Big Data
• Big Data - Key Companies to Watch
• Smart Labs Implementation Journey

4. Market Overview and Forecast - Smart Labs

• Adoption Curve for Smart Labs Solutions Across Application Areas
• Market Drivers and Restraints
• Total Market Forecast for Smart Labs Solutions
• Total Market Forecast for Smart Labs Solutions by Applications
• Revenue Forecast Discussions

5. Competitive Landscape

• Trends Shaping the Smart Labs Ecosystem
• Competitive Smart Labs Ecosystem - Top Vendors
• Competitive Factors and Assessment
• Emerging Business Models

6. Growth Opportunities

• Major Growth Opportunities
• Growth Opportunity - Smart Labs-as-a-Service
• Growth Opportunity - IoT for Workflow Standardization
• Growth Opportunity - Digital Twins for Performance Improvement
• Growth Opportunity - Edge Computing for Real-time Data Management

7. Conclusion

• Strategic Imperatives for Major Stakeholders
• Smart Labs Ecosystem of 2025
• 5 Competitive Factors for Smart Labs Solutions Success
• Three Big Predictions

8. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/7txphq

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716Laura Wood | +353-1-481-1716 | [email protected]

SOURCE Research and Markets