REPORT HIGHLIGHT
Lab automation market size was valued at USD 5,208.9 Million in 2022, expanding at a CAGR of 7.3% from 2023 to 2030.
Lab automation is a multi-disciplinary innovative approach to enable new and better processes in the lab. Additionally, it is used as a strategy in the lab to research, optimize, develop, and capitalize on technologies. It is particularly used for automating laboratory processes requiring less human input and eliminating the error of human. Moreover, lab automation is used to offer more efficient diagnostics and testing. Furthermore, the rapid spread of diseases as well as discoveries in the field of healthcare ascends the demand for treatments and diagnoses, which is expected to boost the lab automation market.
Lab Automation Market- Market Dynamics:
- Rising strategic & investment initiatives and Growing expenditure on lab automation tools and equipment driving market growth
- The market for laboratory automation is rising due to its high demand for specialized advanced automated services which eliminate human errors. Additionally, the focus of the companies and the market players is to offer a variety of machines, tools, techniques, and equipment to support the manufacturing and development of automated laboratory infrastructure. The market players are coming up with more funding and investments to build advanced technology and methods, to capture the global market share. Moreover, for the traditionally labor-intensive process, such players are highly focused on minimizing manual efforts and hands-on time. This is projected to drive the market's growth. However, low-risk-taking capabilities and budget constraints for small and medium size industries may restrain the market growth. Furthermore, the demand for laboratory examinations is increasing expeditiously for various reasons, including chronic disease growth, the discovery of new & more effective biomarkers, an aging population, and an increase in diagnostic demands & general health. As a result, rising expenditure on lab automation tools and equipment is increasing.
Lab Automation Market- Key Insights:
- As per the analysis shared by our research analyst, the global lab automation market is estimated to grow annually at a CAGR of around 7.3% over the forecast period (2023-2030)
- The lab automation industry is projected to grow at a significant rate due to the advanced automated services which eliminate human errors
- Based on automation type segmentation, modular automation was predicted to show maximum market share in the near future
- Based on process segmentation, continuous flow systems was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Lab Automation Market- Segmentation Analysis:
- The global lab automation market is segmented on the basis of process, automation type, end use, and region.
- The market is divided into two categories based on process: discrete processing and continuous flow. The continuous flow segment is likely to possess the revenue share. The revenue growth is owing to the continuous flow system's higher demand in industries and the rising adoption of continuous flow in laboratories for providing high-quality services. Moreover, it is suitable when there is a requirement to analyze a large number of samples and continuous flow is among the widely preferred techniques is boosting the segment demand.
- The market is divided into two categories based on automation Type: modular automation systems and total automation systems. The modular automation systems segment is expected to hold a large number of shares. Modular automation systems provide mix-and-match capabilities and flexibility capabilities. Additionally, in modular systems increasing applications among end-users is another factor propelling market expansion. These kinds of systems are appropriate for labs that required automation for specific processes.
- The market is divided into four categories based on end use: immunoassay analysis, photometry & fluorometry, clinical chemistry analysis, electrolyte analysis, and others. The clinical chemistry analysis segment is likely to maintain its dominance over the forecast period. Rising preference for automated laboratory instruments, higher demand for automation, and technological advancements in clinical chemistry labs for labeling and sample handling are contributing to the largest revenue share for the clinical chemistry analysis segment. Moreover, flourishing demand from small and medium-sized laboratories and supportive government legislation are also driving the segment's uptake.
Lab Automation Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Lab Automation Market- Competitive Landscape:
Manufacturing facilities are focused on creating advanced systems to use artificial intelligence technology to correct and recognize issues before they occur. Additionally, to increase laboratory automation the government's initiative and funding will assist the market growth and increase the market players. The government agreements and collaborations with the market's key players will further strengthen the laboratory infrastructure. Moreover, market players are adopting various techniques to expand their business including new product launches, R&D activities, mergers, and partnerships to gain a foothold in the industry. For instance, in January 2022, Qiagen launched new additions to the growing number of applications for Qiacuity, its ultrasensitive digital polymerase chain reaction (dPCR) platform, by collaborating with Atila BioSysems and Actome
Recent Developments:
For instance, in January 2023, BD (Becton, Dickinson, and Company) launched its third-generation total lab automation system. Additionally, the technology will allow labs to form a custom, flexible total lab automation configuration connecting various BD Kiestra modules.
Key features of the study:
- This proposed research study on lab automation market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the lab automation market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for lab automation market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the lab automation market.
- Impact of COVID-19 on lab automation market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on lab automation market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the lab automation market, we have also included competitive landscape and key innovator analysis for the lab automation market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants who will help users to understand their financial information and strategic initiatives of players operating in the lab automation market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global lab automation market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL LAB AUTOMATION MARKET KEY PLAYERS
- Aurora Biomed Inc.
- PerkinElmer Inc.
- Danaher
- Thermo Fisher Scientific, Inc.
- Eppendorf SE
- Siemens Healthcare GmbH
- F. Hoffmann-La Roche Ltd
- Hudson Robotics
- BMG LABTECH GmbH
- QIAGEN
- Tecan Trading AG
- Hamilton Company
- Agilent Technologies, Inc.
GLOBALLAB AUTOMATION MARKET, BY PROCESS
- Discrete Processing
- Continuous Flow
GLOBAL LAB AUTOMATION MARKET, BY AUTOMATION TYPE
- Modular Automation Systems
- Total Automation Systems
GLOBAL LAB AUTOMATION MARKET, BY END USE
- Immunoassay Analysis
- Photometry & Fluorometry
- Clinical Chemistry Analysis
- Electrolyte Analysis
- Others
GLOBAL LAB AUTOMATION MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA