The latest report by IMARC Group, entitled “Laboratory Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global laboratory automation market reached a value of US$ 4.3 Billion in 2017. Laboratory automation refers to the utilization of automated systems so as to increase the efficiency and effectiveness of scientific research in laboratories. These systems are generally an integration of robotics, computer hardware and software, conveyor systems, machine vision, etc. that aid in achieving standardized and real-time analysis as well as improving performance by eliminating human errors. Nowadays, the most advanced lab automation systems include immunoassay, hematology, hemostasis and chemistry testing along with pre- and post-analytical processing. On account of rising competition and demand for higher efficacy in both research and clinical labs, the demand for laboratory automation systems has increased in the recent years.
Global Laboratory Automation Market Trends:
Automated laboratory software has improved the productivity of testing solutions, enabling the lab teams to view history and track sample details anywhere at any time. Apart from this, several manufacturers have designed automated systems and software to improve workflow with decreased costs per test, reduced turnaround time, fewer errors and increased testing capacity. Moreover, the development of bench-top and standalone automated systems has facilitated the introduction of automation in smaller labs. Further, the governments of various countries are taking initiatives to enhance their laboratory research, in turn, creating a huge demand for laboratory automation. For instance, Genomics Research and Development Initiative (GRDI) by the government of Canada utilizes automated laboratory systems to increase test speed and minimize cost inputs. Owing to these factors, the market is projected to reach a value of US$ 5.9 Billion by 2023, exhibiting a CAGR of around 5% during 2018-2023.
Global Laboratory Automation Market Summary:
- On the basis of type, the market has been segmented into modular automation and whole lab automation. Currently, modular automation is the most popular segment in the global laboratory automation market.
- Based on equipment and software type, the market has been segregated into automated clinical and drug discovery laboratory systems. Amongst these, automated clinical laboratory systems dominate the market, accounting for the largest market share.
- On the basis of end-user, biotechnology and pharmaceutical companies represent the biggest end-user segment in the global laboratory automation market. These companies are followed by hospitals and diagnostic laboratories, and research and academic institutes.
- Region-wise, North America is the leading market, holding the majority of the global share. This can be accredited to the rising number of research laboratories in the region which require an efficient and cost-effective solution for sample analysis. Other major regions include Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The global laboratory automation market has also been examined with some of the major players being Danaher, PerkinElmer, Tecan Group, Thermo Fisher, Abbott Diagnostics, Agilent Technologies, Aurora Biomed, Becton, Dickinson and Company, BioMérieux, Biotek Instruments, Brooks Automation, Cerner, Eppendorf, Hamilton Storage Technologies, Lab Vantage Solutions, Labware, Olympus, Qiagen, Roche Holding and Siemens Healthcare.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal