Global Lab Automation Market is valued at approximately USD 5.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2023-2030. The lab automation market is concerned with the application of technology and equipment to automate laboratory activities such as sample preparation, data analysis, and testing. Lab automation is becoming more common across a wide range of businesses, including pharmaceuticals, biotechnology, clinical diagnostics, and academic research. Automation can increase throughput, enhance experiment accuracy & reproducibility, remove human variability as well as error, and improve experiment correctness, all of which lead to more rapid and effective research and development. The lab automation market is likely to expand in the future, owing to rising demand for personalized medicine, the need for speedier R&D in the pharmaceutical industry, and the continued trend towards laboratory digitization and automation.
Additionally, the growing need for faster research and development and improvisation of healthcare across the emerging nations is acting as a major driver for the lab automation market. According to the Invest India, the Indian medical technology sector is projected to be worth USD 11 billion by 2030, with a CAGR of 15% over the last three years. According to International Trade Administration, in 2023, China’s medical device sector is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 8.3% from 2021 to 2026, reaching $48.8 billion. Three-quarters of China’s sector for medical device imports were made up of American providers, who accounted for 27.2% of China’s $5.62 billion worth of medical device imports in 2021. Diagnostic imaging and consumables accounted for over 50% of the market value in the medical device subsegments. Moreover, the increasing number of lab automation applications is projected to accelerate the market growth in the near future. Among them are the generation of cell lines, synthetic biology, genomics, cellular tests, and drug discovery. Another factor anticipated to have a substantial impact on market growth in the near future is an increase in demand for miniaturization. However, the difficulty in the adoption of lab automation by small and medium sized industry turned out to be a restraint in the growth of the lab automation market.
The key regions considered for the Global Lab Automation Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the lab automation market in 2022 and is likely to hold this position throughout the forecast period. The presence of well-established healthcare infrastructure has contributed to a rise in the region’s adoption of lab automation technologies. Furthermore, the local presence of significant businesses and a supportive reimbursement system in this region are driving market penetration of revolutionary solutions. Asia Pacific is expected to be the fastest growing region during the forecast period, due the factors such as increasing initiatives by regional and international players to provide accessibility to novel lab automation solutions in the market.
Major market players included in this report are:
Thermo Fisher Scientific, Inc.
Agilent Technologies, Inc.
Bio Tek Instruments, Inc.
Hudson Robotics, Inc.
Aurora Biomed Inc.
Recent Developments in the Market:
Ø In January 2023, Agilent Technologies recently acquired Avida Biomed, a startup life science company that develops high-performance target-enrichment techniques with unique capabilities for clinical researchers employing next-generation sequencing techniques to study cancer.
Ø In March 2021, Agilent Technologies and GRAIL, a healthcare startup focused on early cancer detection, announced a collaboration to create a next-generation sequencing (NGS) tool for cancer diagnosis. The cooperation is expected to increase the efficiency and accuracy of the NGS assay by leveraging Agilent’s automation and sample preparation capabilities.
Global Lab Automation Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Process, Automation Type, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Automation Type:
Total Automation Systems
Modular Automation Systems
By End Use:
Clinical Chemistry Analysis,
Photometry & Fluorometry
Middle East & Africa
Rest of Middle East & Africa