Laboratory Automation Market Report

Market Overview:

The global laboratory automation market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028. The growing adoption of automation to reduce the wastage of samples, consumables, and reagents; rising integration to fasten drug discovery processes; and the increasing utilization of microfluidic ships or lab-on chips in advanced biological research represent some of the key factors driving the market.

Rising Demand for Automation in Biomedical Research is Fostering Market Growth

The increasing incorporation of laboratory automation in biomedical research for streaming drug discovery and research processes is propelling the growth of the market. In addition, automation systems help identify various compounds using a wide variety of combinations in minimum time. Apart from this, laboratory automation reduces the compound rejection rate in biomedical research through high-throughput screening, which is bolstering the growth of the market. It also assists in cutting off significant costs and time incurred in drug discovery processes. Furthermore, laboratory automation eliminates the requirement of human involvement in various repetitive and labor-intensive tasks, which is contributing to the growth of the market.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The structure of the laboratory automation market is fragmented, with a significant number of key players operating due to low product differentiation rates. The volume of new entrants in the market is moderate due to the requirement of high capital investments and larger amounts of exit barriers.

What is Laboratory Automation?

Laboratory automation refers to the employment of various devices and software to automate numerous scientific research activities in laboratories. It comprises robots, conveyor systems, machine vision, and computer hard and software, which ensures the safety and accuracy of a wide variety of research activities and sample management. It assists in the real-time analysis of tests by eliminating human errors and considerably reducing human workload. It involves the automation of various integral aspects of the research procedure, such as storing, sorting, decapping, recapping, retrieval, accessioning, and centrifugation of samples. It also helps enhance the testing capacity and workflow of research laboratories, reduce cost per test, and decrease turnaround time. Laboratory automation plays a crucial role in maximizing the accuracy of various test results and minimizing the occurrence of errors to increase operational efficiency. It also enables laboratories to deliver test reports quickly, ensuring that actionable information is available on short notice for reviewing purposes. Furthermore, as laboratory automation allows researchers to focus on various core activities and reduce their time to complete repetitive tasks, its demand is increasing around the world.

COVID-19 Impact:

The outbreak of coronavirus negatively impacted the market of laboratory automation as governing agencies of various countries imposed lockdowns, which caused the shutting down of numerous chemical laboratories. The pandemic has also caused a shortage in the supply of laboratory automation systems, and limitations on road movement have severely impacted domestic as well as international supply chains in the short term. On the other hand, a tremendous need to scale up automation solutions was experienced due to the high demand for laboratory automation in labs to handle extensive volumes of samples on a daily basis during the pandemic. Apart from this, there was a shortage of labor in research laboratories due to the outbreak of COVID-19 and lockdowns imposed in numerous countries, which impelled the growth of the laboratory automation market.

Laboratory Automation Market Trends:

At present, the increasing demand for laboratory automation, as it assists in reducing overall labor costs and boosting productivity, represents one of the primary factors influencing the market positively. Besides this, the rising integration of laboratory automation to fasten drug discovery processes is propelling the growth of the market. In addition, governing agencies of various countries are investing in research and development (R&D) activities to produce novel drugs for treating a wide variety of chronic disorders and cancers. Apart from this, the increasing adoption of laboratory automation to reduce the wastage of samples, consumables, and reagents is contributing to the growth of the market. Additionally, the rising utilization of microfluidic ships or lab-on chips in advanced biological research, such as proteomics, genomics, and metabolic research, is strengthening the growth of the market. Moreover, the increasing demand for personalized medications to effectively treat illnesses is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global laboratory automation market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, equipment and software type and end-user.

Type Insights:

• Modular Automation
• Whole Lab Automation
   

The report has provided a detailed breakup and analysis of the laboratory automation market based on the type. This includes modular automation and whole lab automation. According to the report, modular automation represented the largest segment as it is suitable for refurbishment of laboratories wherein full automation is not possible. In addition, the rising employment of various devices, such as automated liquid handlers, plate handlers, conveyors, and modular analyzers, to minimize human intervention is propelling the growth of the respective segment.

Equipment and Software Type Insights:

• Automated Clinical Laboratory Systems
  • Workstations
  • LIMS (Laboratory Information Management Systems)
  • Sample Transport Systems
  • Specimen Handling Systems
  • Storage Retrieval Systems
• Automated Drug Discovery Laboratory Systems
  • Plate Readers
  • Automated Liquid Handling Systems
  • LIMS (Laboratory Information Management Systems)
  • Robotic Systems
  • Storage Retrieval Systems
  • Dissolution Testing Systems
     

A detailed breakup and analysis of the laboratory automation market based on the equipment and software type has also been provided in the report. This includes automated clinical laboratory systems (workstations, LIMS (laboratory information management systems), sample transport systems, specimen handling systems, and storage retrieval systems) and automated drug discovery laboratory systems (plate readers, automated liquid handling systems, LIMS (laboratory information management systems), robotic systems, storage retrieval systems, and dissolution testing systems. According to the report, automated clinical laboratory systems (workstations, LIMS (laboratory information management systems), sample transport systems, specimen handling systems, and storage retrieval systems) accounted for the largest market share as they help in rapid and high throughput analysis of a sample. In addition, the increasing employment of laboratory automation in specimen transportation, sorting, and inspection is propelling the growth of the market. 

End-User Insights:

• Biotechnology and Pharmaceutical Companies
• Hospitals and Diagnostic Laboratories
• Research and Academic Institutes
   

A detailed breakup and analysis of the laboratory automation market based on the end-user has also been provided in the report. This includes biotechnology and pharmaceutical companies, hospitals and diagnostic laboratories, and research and academic institutes. According to the report, biotechnology and pharmaceutical companies accounted for the largest market share on account of the rapid technological revolution in various biotech labs, which is leading to the introduction of automation hardware, data handling software, and various automated micro-machinery equipment. Additionally, the rising research and development (R&D) activities in the pharmaceutical sector is bolstering the growth of the respective segment.

Regional Insights:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America,. According to the report, North America was the largest market for laboratory automation. Some of the factors driving the North America laboratory automation market included the rising expenditure on improving healthcare services, increasing introduction of automation devices in various diagnostics and research laboratories, implementation of various standard regulations to improve the productivity of various clinical laboratories, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global laboratory automation market. Some of the companies covered in the report include:

• Danaher
• PerkinElmer
• Tecan Group
• Thermo Fisher
• Abbott Diagnostics
• Agilent Technologies
• Aurora Biomed
• Becton, Dickinson and Company
• Biomatrix
• Biotech Instruments
• Brooks Automation
• Cerner
• Eppendorf  
• Hamilton Storage Technologies
• LabVantage Solutions
• Labware
• Olympus
• Qiagen
• Roche Holding
• Siemens Healthcare 
   

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the laboratory automation market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global laboratory automation market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the laboratory automation industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.