Laboratory Automation Market - Global Industry Analysis

Global Laboratory Automation Market: Overview

Laboratory automation is the use of instrumentation or equipment to carry out laboratory processes with the least possible human involvement. Over the last few decades, laboratory automation has revolutionized the working process of laboratories. It has enabled the laboratories to offer the consumer a wide variety of tests at a lower cost per test and with fewer staff. Laboratory automation is used from a single step of an experimental process to the entire workflow.

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Global Laboratory Automation Market: Growth Factors

The global laboratory automation market is growing at an exponential rate. The growing necessity of quick & precise clinical diagnostics, increase in drug discovery programs, current Covid-19 pandemic situation, and huge investments in healthcare infrastructure are some of the predominant factors that are boosting the growth of the global market. Laboratory automation provides several benefits including reduced test cost, faster processing, ease of interaction with laboratory information systems, and modularity as the laboratory automation systems are customizable. Additionally, the overall efficiency of the experimental processes is been enhanced by laboratory automation as it allows higher throughput of experiments, uses lower quantities of reagents, and cutting down wastes. In addition to this, it also allows saves time for the researchers to perform repetitive and time-consuming tasks allowing them to carry out specialized processes. All these beneficial uses of laboratory automation are contributing to the growth of the global laboratory automation market. Moreover, the increase in R&D activities in the biotechnology & pharmaceutical industry and adoption of industry 4.0 are also some of the factors that are propelling the growth of the global market. In addition to this, the use of software, sensors, and robots are also one of the major factors that are driving the growth of the global market. Furthermore, the rise in penetration of artificial intelligence and the internet of thing-based tools in the diagnostic sector will provide ample opportunities for the growth of the global laboratory automation market over the forecast period. However, high initial investment and adoption of laboratory automation from small and medium-size laboratories may hinder the growth of the global laboratory automation market.

The Covid-19 pandemic has augmented the adoption of laboratory automation across the world. The continuous rise in Covid-19 cases has led to a substantial increase in diagnostic testing. In addition to this, the pandemic has a tremendous work pressure on the healthcare workers to perform tests and accordingly treat the patients. Also, to carry out the processing of a large number of samples fully automated workstations for SARS-CoV-2 RT-PCR testing are doled out. All these factors have spurred the growth of the global laboratory automation market during the pandemic and are expected to maintain a healthy growth rate owing to the ongoing pandemic situation.

Global Laboratory Automation Market: Segmentation

The global laboratory automation market is segregated based on product, application, end-user, and region. Based on the product, the global laboratory automation market is classified into automated workstations, microplate readers, robotic systems, and software & informatics. The application segment comprises proteomics solutions, genomics solutions, clinical diagnostics, and drug discovery. The end-user of the global market includes research institutes, biotechnology & pharmaceutical industries, and hospitals & diagnostic laboratories.

Global Laboratory Automation Market: Regional Analysis

Region-wise, North America is estimated to lead the global laboratory automation market in terms of revenue over the forecast period. Factors such as the presence of the largest biopharmaceutical in the US, increase in R&D activities for drug discovery & innovative therapy, and rapid adoption of advanced technology are boosting the growth of the market in this region. Europe is also expected to contribute to maximum share in the market growth owing to an increase in laboratory automation solution deployment, the presence of original equipment manufacturers (OEMs) in Germany, and the presence of dynamic & integrated research facilities. Asia Pacific is anticipated to grow at a rapid rate and offer ample opportunities for the overall market growth. This is attributable to the rise in the number of standalone laboratories, hospital-based laboratories, and major diagnostic chains. In addition to this, major pharmaceutical giants adopting laboratory automation and the rapidly expanding pharmaceutical industry in China and India are also the key aspects that are contributing to the market growth in Asia Pacific region.

Global Laboratory Automation Market: Competitive Players

The prominent players that are operating in the global laboratory automation market are Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Tecan Group Ltd., Siemens AG, Qiagen N.V., PerkinElmer, Inc., Hamilton Robotics, Roche Diagnostics, Danaher Corporation, and BioMerieux SA among others.

Global Laboratory Automation Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.