LAB AUTOMATION INDUSTRY INSIGHTS
The global lab automation market size to reach USD 8.58 billion by 2026, growing at a CAGR of 8.53% during the forecast period. To scale up the process of manufacturing and to produce accurate results with increased quality and reduce time consumption, lab automation is gaining high traction in the healthcare industry. Many large hospitals in the developed countries have adopted lab automation techniques. As a result, the global laboratory information management system market is expected to exhibit a significant CAGR and annual growth during the forecast period. In addition, a high level of investment in healthcare and life science research is boosting the demand for lab automation.
During the ongoing COVID-19 pandemic, robotics installed in labs played a significant role in diagnosing a larger number of populations across the globe. To reduce the load on healthcare call centers and avoid overcrowding in clinics and hospitals, robotics in the lab automation market to witness high demand worldwide. In this pandemic, the healthcare industry faces many challenges, and laboratory automation is one of the solutions to overcome the challenges. For instance, AgileBio introduced a pack of software components for laboratories to manage their services online and facilitated the laboratories to provide end-to-end solutions. Rapid growth in hospital admissions will witness a surge in demand for lab automation during the forecast period.
- COVID-19 LIMS introduced by LabVantage has helped end-users to manage their testing and research related to COVID-19.
- Most of the labs in Europe are adopting automation and implementing LIMS. Thereby, the laboratory automation market in Europe is expected to reach USD 2,614.18 million by 2026.
- Technological advancements such as lab automation, ELN, and LIMS are significant tools in Japan's forensics' department. The lab automation market in Japan will grow at a CAGR of 11.73% by 2026.
- Thermo Fisher Scientific offers a wide range of products from liquid automation to robotic devices in lab automation devices. In 2021, the company launched a system for automated sample purification.
LAB AUTOMATION INDUSTRY GROWTH FACTORS
- The vendors supply important automation solutions to upgrade laboratory infrastructure and boost their presence in the global laboratory automation market.
- Using a centralized, integrated workstation to automate repetitive processes such as the manual pipetting process provides an array of growth advantages to the vendors.
- New product approvals and launches are positively impacting the market and contributing majorly toward the market's growth globally.
LAB AUTOMATION MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCTS
Automated workstations have been widely used in labs to improve their performance and productivity.
The latest workstations, which are modular and customized to suit a particular application, such as sample preparation for genomics, proteomics, cellular analysis, and more, are gaining high momentum in the market. For instance, Abbott provides total labor depending on the requirement of the laboratory, and workstations can be procured. As a result, large laboratories are planning to prefer automated workstations to increase productivity across the globe.
INSIGHTS BY APPLICATION
Drug discovery labs can reduce the process of designing, synthesizing, and screening a compound from weeks to days.
The application of automation is helping researchers to test a more significant number of hypotheses. The automated robots and workstations benefit the researchers to evaluate large numbers of compounds against specific biological targets rapidly. Adopting digital workflow management practices and automated solutions is a key growth driver for labs to improve their efficiency and reduce their costs.
INSIGHTS BY AUTOMATION
The task-targeted segment is expected to reach USD 2,840.37 million by 2026.
With the rise in the COVID-19 pandemic, most companies have invested in the task-targeted analyzers to increase the safety of lab personnel and handle the virus samples, especially in the preanalytical phase and preparing the samples to analyze it. Some pharma companies and research labs prefer using task-targeted analyzers in the post-analytical phase to produce error-free results. Compared to the total laboratory automation, implementing task-targeted automation is low, creating high growth in the market.
INSIGHTS BY END-USER
In 2020, the biotechnology & pharma segment accounted for 34.31% of the global lab automation market share.
The biotechnology and pharma companies are increasing their usages of automated laboratory instruments, creating lucrative opportunities for the players in the market. The improved agility with the reduced testing time can reduce lead time for quality control labs by 60% to 70% and eventually leading to real-time product releases. Additionally, hospital laboratories are unique entities within the hospitals. Around 92% of the hospitals operate with their laboratories. In recent years, private laboratories have expanded their footprints, especially in developing countries, fueling the market growth. Public health laboratories are implementing partnership strategies with the World Health Organization and other international health entities to prevent and control health threats. The investments in new technologies with automated features will be high in the upcoming years.
INSIGHTS BY GEOGRAPHY
In 2020, North America accounted for 42.04% of the global laboratory automation market share
Many hospitals in North America have started to automate their labs to improve the quality of the labs, to provide better treatments to the people. Shortage of skilled laboratory technicians, increase in the number of diagnostic tests conducted, and increased investments in the life sciences industry are some of the major factors driving the demand for laboratory automation in the US. In Canada, two gene therapies for cancer treatment have been approved, and there are plans to implement somatic gene therapy in the coming years in lab automation market.
Many labs across Europe implemented COVID-19 specific LIMS to handle samples and share the results faster remotely. Germany is home to many pharma and biotechnology companies, and the demand for lab automation is rapidly growing in the region. Germany stands as a role model to other countries in terms of automation. The market in Germany is expected to grow at a CAGR of 5.86% during the forecast period.
One of the leading players, Abbott, offers total laboratory automation products for multiple applications.
Manufacturers such as Abbott and Danaher are continuously focusing on product development and offering lab automation with new technology to increase their presence in the global market. In addition, key players are engaging in strategic acquisitions as part of their inorganic growth strategy to improve sales and profit margins. With the increase in the competition, vendors are expected to actively launch innovative devices to penetrate and tap the huge growth potential in the lab automation market. Danaher, Thermo Fisher Scientific, Tecan, Illumia, Abbott, and Agilent Technologies are the leading players and accounted for significant shares in the market.
The lab automation market research report includes in-depth coverage of industry analysis with revenue and forecast insights for the following:
- Segmentation by Product
- Automated Workstations
- Automated Microplate Reader
- Robotic Systems
- Segmentation by Application
- Drug Discovery
- Clinical Diagnostics
- Genomics Solutions
- Segmentation by Automation
- Subtotal Automation
- Task Targeted Automation
- Total Laboratory Automation
- Segmentation by End-User
- Biotechnology and Pharma Companies
- Hospitals and Diagnostic Laboratories
- Forensic Laboratories
- Food & Beverages
- Environmental Testing Laboratories
- Research And Academic Institutes
- Segmentation by Geography
- North America
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia