The Increasing Expansion of Laboratories in the World Is Boosting the Growth of the Global Lab Automation Market

 

Lab Automation Market
Lab Automation Market

Lab Automation Market, By Product (Liquid Handling Products, Microplate reader, Robotics, and Others), By End User (Research Institutes, Biopharmaceuticals, and pharmaceuticals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Market Overview:

Lab automation refers to the use of advanced technologies, robotics, and software systems to automate laboratory processes and tasks that were traditionally performed manually. It involves the integration of various instruments, devices, and software platforms to streamline laboratory workflows, increase efficiency, and improve the accuracy and reproducibility of results.

Competitive Landscape:

Major players operating in the global lab automation market include Peak Analysis & Automation, Reshape Biotech, Beckman Coulter, Inc., Molecular Devices, LLC, Endress+Hauser Group Services AG, SPT Labtech Ltd, Porvair Sciences, UiPath, Siemens Healthcare Private Limited, F. Hoffmann-La Roche Ltd, Merck KGaA, Abbott, COPAN Diagnostics Inc., Hamilton Company, Agilent Technologies, Inc., QIAGEN, Thermo Fisher Scientific, Danaher, PerkinElmer Inc., and Tecan Trading AG.

Key Market Drivers:

The increasing volume of samples and complexity of laboratory workflows necessitate automation to improve efficiency and accuracy. Lab automation systems reduce human error, minimize sample contamination, and enhance the reproducibility of results. This is expected to augment the growth of the global lab automation market. For instance, according to the International Laboratory Accreditation Cooperation, there are around 88,000 laborites in the world that were accredited by the ILAC MRA Signatories in 2022.

Technological advancements, such as robotics, artificial intelligence (AI), machine learning, and the integration of laboratory information management systems (LIMS), have transformed lab automation. These technologies enable high-throughput screening, faster data analysis, and streamlined laboratory processes, fueling market expansion.

With the growing need for rapid drug discovery and development, high-throughput screening has become essential in the pharmaceutical and biotechnology industries. Lab automation facilitates high-throughput screening, enabling the screening of thousands of compounds in a short time, leading to increased demand for automated systems. This is estimated to enhance the growth of the global lab automation market.

Precision medicine relies on accurate and personalized diagnostics. Lab automation plays a crucial role in enabling precision medicine by automating molecular diagnostics, genetic testing, and other specialized laboratory techniques, driving market growth.

Covid-19 Impact Analysis:

The COVID-19 pandemic led to a surge in demand for COVID-19 testing, putting immense pressure on laboratory resources. Lab automation played a crucial role in scaling up testing capacity, enabling high-throughput screening and faster turnaround times. The urgent need to develop diagnostics, therapies, and vaccines for COVID-19 prompted increased research and development activities. Lab automation facilitated high-speed data generation, analysis, and accelerated research workflows, aiding in the development of new testing methods and treatment strategies. This boosted the growth of the global lab automation market. For instance, in August 2021, Becton Dickinson AG introduced a very advanced automated high-throughput molecular diagnostic platform to be used in labs in the U.S. market.

Key Takeaways:

·         North America is expected to dominate the growth of the global lab automation market, owing to the presence of well-established healthcare infrastructure, advanced research facilities, and major pharmaceutical and biotechnology companies. The region has a high adoption rate of lab automation systems and technologies. For instance, according to the American Clinical Laboratory Association, there are currently around 25,505 diagnostic & medical laboratories in the United States.

·         Europe is estimated to witness high growth in the global lab automation market, owing to the robust healthcare systems, increasing research and development activities, and supportive government initiatives. The region has a strong focus on precision medicine and personalized diagnostics, contributing to market growth. For instance, in November 2022, F. Hoffmann-La Roche Ltd. partnered with PathAI, in order to develop AI-based digital pathology applications for improving patient care.

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