The Global Market For Lab Automation accounted for US$ 4,790 Mn in 2021 and is estimated to reach US$ 9,371 Mn by 2030, with a significant CAGR of 7.9% from 2022 to 2030.
Laboratory automation is widely regarded as one of the most significant advancements in laboratory diagnostics in recent years. The use of automation in the laboratory allows for a wide range of tests to be carried out using analytical instruments with minimum intervention from a professional. Another benefit of laboratory automation is that it allows laboratories to process more work with fewer people. Additionally, automation reduces the likelihood of inaccuracies in results that are common during manual analysis. Furthermore, by adopting automated methods to store and manage hazardous test materials, automation in healthcare labs enhances safety. As a result,automation is becoming increasingly popular in labs because of its cheaper costs, increased throughput, improved accuracy, reduced experimental errors, and a safer environment.
Market Growth Drivers:
· Growing number of laboratory tests worldwide
· Rising research & development investments in the pharma sector
· Increasing standardization of workflows in laboratories
· Growing pharmaceutical and biotechnology industries
|Market||Lab Automation Market|
|Market Size 2021||US$ 4,790 Mn|
|Market Forecast 2030||US$ 9,371 Mn|
|CAGR||12.1% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2021 - 2028|
|Segments Covered||By Product Type, By Application,, By End-use And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Agilent Technologies, Bio Tek Instruments, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Hamilton Company, Hudson Robotics, PerkinElmer Inc, Qiagen N.V., Tecan Group Ltd., and Thermo Fisher Scientific, Inc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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The unusual spread of the covid-19 epidemic necessitated vast volumes of lab testing, which raised the burden on lab employees in order to keep track of a massive amount of data. Healthcare laboratory data has made it simple for healthcare workers to automate workflows, integrate devices, manage samples, and associate patient test information. Traditional data recording methods, such as record books and spreadsheets, are insufficient to meet the demands of a modern laboratory. The process of storing and evaluating complicated data samples can be made simple and easy with lab automation. For instance, in January 2022 - The 'STRIP-1' test robot, developed by the Hubrecht Institute and Genmab, can process up to 20,000 samples for SARS-CoV-2 testing in 24 hours. As a result, the STRIP-1 is far quicker than any other system to date. The robot was subsequently improved and prepared for diagnostic application by PAMM medical microbiology laboratory Bodegro and Tecan after its initial creation.
Some of the key drivers driving the global laboratory automation market growth include increasing standardization of processes in laboratories, tight regulatory requirements, and increased R&D spending in healthcare settings. In addition, significant lab automation market trends include the growing demand for clinical workflow management and the growing requirement for scientific data integration solutions. In addition, with the introduction of automation techniques, the number of diagnosis cases and real-time result analysis has increased threefold, resulting in a threefold increase in demand for automated devices, improved software, and services. The aforementioned considerations will drive up lab automation demand in major integrated healthcare systems.
The global lab automation market is segmented based onproduct type, application, end-user, and geography.
Market by Product Type
· Robotic Systems
· Microplate Readers
· Automated Workstations
· Off-The-Shelf Automated Workcells
· Automated Storage and Retrieval Systems (ASRS)
Based on product type, the automated workstationssegment achieved maximum market share in 2021. Laboratories are increasingly turning to automated workstations to boost efficiency and output. Many of the classic experimental processes performed by scientists can be automated to improve reproducibility and throughput.Furthermore, integrated automated workstations enable new application-focused laboratory automation solutions that ease microplate handling, liquid handling, and detection, ranging from cellular screening and imaging to high-throughput screening and genomics-based applications.
Market by Application
The diagnostic segment is expected to generate a significant market share in 2021. The ever-increasing use of automation in many medical processes, notable diagnostics, is one of the most fascinating elements of medical technology's progress. Manual specimen
testing, for example, is time-consuming and prone to errors due to human error. Automation aids in the removal of these constraints, allowing for more precise findings in less time. However, the drug discovery segment is expected to achieve a substantial growth rate throughout the forecast period 2022 – 2030. The growing number of infectious diseases throughout the world is a leading aspect that fuels the drug discovery applications.
Market by End-User
The pharmaceutical & biotechnology companies segment is likely to register the fastest growth rate (CAGR) during the projected years. The requirement for sophisticated testing to provide effective diagnosis and treatment for various ailments has prompted the lab automation market demand as laboratory workflows become more arduous and complex. According to the survey, the rise of highly precision-based diagnosis and treatment solutions from the biopharmaceutical industry following the breakout of COVID-19 extended the growth potential for lab automation systems. As a result, the demand for pharma and biotech companies’ growth is on the rise in the coming years.
Lab Automation Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
The presence of advanced healthcare facilities in North America boosts the regional market growth
Based on the regional segmentation, the North American region accounted for the maximum share in 2021. The leading share of North America is attributed to the presence of a large number of advanced healthcare facilities and pharma companies, and a favorable reimbursement framework. In addition, increasing expenditure on modernizing research & development laboratories is also expected to propel the demand in the North American lab automation market. Meanwhile, the Asia-Pacific region is anticipated to witness the fastest CAGR during the forecast timeframe 2022 – 2030.
Some of the top vendors offered in the professional report include Agilent Technologies, Bio Tek Instruments, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Hamilton Company, Hudson Robotics, PerkinElmer Inc, Qiagen N.V., Tecan Group Ltd., and Thermo Fisher Scientific, Inc.
The estimated value of global lab automation market in 2021 was accounted to be US$4,790 Mn.
The projected CAGR of lab automation market during the analysis period of 2022 to 2030is 7.9%.
The prominent players of the global lab automation market involve Agilent Technologies, Bio Tek Instruments, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Hamilton Company, Hudson Robotics, PerkinElmer Inc, Qiagen N.V., Tecan Group Ltd., and Thermo Fisher Scientific, Inc.
North America held the dominating share for lab automation during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for lab automation during the analysis period of 2022 to 2030.
Growing number of laboratory tests worldwide, rising research & development investments in the pharma sector, increasing standardization of workflows in laboratories drives the growth of global lab automation market.
Based on product type, automated workstations segment held the maximum share for lab automation market in 2021.