The goal of lab automation is to enhance diagnostic procedures by creating and refining laboratory technologies from a variety of perspectives. The risky and prone to error manual procedures have been replaced by safer and more reliable automated ones. Pre-analytical and post-analytical lab automation are the two main categories of lab automation. Through reduced reagent consumption, decreased waste, and other means, laboratory automation increases productivity. Including sample/reagent storage, addition, and preparation are all part of pre-analytical automation. Up to 70% of errors occur in the pre-analytical phase due to causes such as improper storage, incorrect volume, and others.
Global Lab Automation market is estimated to be valued at US$ 4,903.9 million in 2022 and is expected to exhibit a CAGR of 4.9% during the forecast period (2023-2030).
Analysts’ Views on Global Lab Automation Market
Expensive and rigid systems have the potential to slow the expansion of the global market for lab automation. An article published by ScienceDirect in October 2022, for instance, claims that while many businesses provide some form of lab automation software, and these programs are typically both prohibitively expensive and incredibly limiting in their application. Certain instruments, for instance, can only be automated when used in isolation (e.g., so-called autosamplers). There are a number of commercially available, low-cost lab automation solutions; however, these do not address the issue of incompatibility between automation systems and pre-existing lab equipment like thermal cyclers, incubators, and shakers.
Global Lab Automation Market – Drivers
Investment and other key player strategies aimed at growth
For example, in January of 2021, Labforward GmbH, a supplier of smart lab software tools for research labs, announced that Tecan Trading AG had taken part as the lead investor in the series B financing round of the company. As a result of this investment and purchase, Tecan Trading AG now owns a 10% stake in Labforward for $4.28 million.
The use of inorganic methods, like cooperation among industry leaders, is on the rise.
In addition, the expansion of inorganic strategies, such as collaborations between major market participants, is anticipated to fuel the market’s expansion over the forecast time frame. For example, in February 2022, Biosero, Inc., a member of the BICO group, an emerging science-centric software and laboratory automation tool, declared that it had joined the Ready-to-Run program of Genedata, a bioinformatics company that provides enterprise software. This program aids in the acceleration of drug discovery by streamlining laboratory automation processes in biopharmaceutical companies. Incorporating automation into experimental workflows will allow for faster and more effective processing thanks to this partnership.
Global Lab Automation Market – Regional Analysis
During the forecast period, it is expected that North America will maintain a substantial lead in the worldwide market for laboratory automation. The rising number of partnerships between the leading market players will help North America capture 41.1% of the global market by 2022. For example, in April of 2020, the biotechnology firm Integrated Micro-Chromatography Systems (IMCS) and the United States-based precision measurement device manufacturer Hamilton Company introduced the affinity Pure STAR assay-ready workstation, an assay that fully automates the source-target sampling of blood and other homogeneous and heterogeneous biological samples.
In addition, new product launches by industry leaders are forecast to put Europe in the number two spot in the global lab automation market by 2022. For example, in September of 2020, Porvair Sciences, based in the United Kingdom, announced the release of a line of low-profile deep well micro plates, analytical plates used for sample preparation, high-throughput screening, etc. for use in life science and analytical laboratories.
Global Lab Automation Market- Key Players
Tecan Trading AG, PerkinElmer Inc., Danaher, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Inc., Hamilton Company, COPAN Diagnostics Inc., Abbott, Merck KGaA, F. Hoffmann-La Roche Ltd, Siemens Healthcare Private Limited, UiPath, and Porvair Sciences; SPT Labtech Ltd; Endress+Hauser Group Services AG; Automata; accroma; Molecular Devices, LLC are some of the main companies functioning in the market for lab automation worldwide.
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Lab Automation Market Report Coverage
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Global Lab Automation Market– Impact of Coronavirus (COVID-19) Pandemic
Over a hundred countries have reported cases of COVID-19 virus infection since the outbreak in December 2019, and on January 30, 2020, the World Health Organization declared the situation a global public health emergency. There have been over 651,918,402 confirmed cases of coronavirus (COVID-19) infection worldwide as of December 2022, according to a report by the World Health Organization.
There are three main ways in which COVID-19 has affected the economy: through direct effects on the production and demand for drugs and vaccines, through disruptions in distribution channels, and through monetary impacts on firms and financial markets. Drugs and vaccines had trouble getting from one place to another in countries like China, India, Saudi Arabia, the United Arab Emirates, and Egypt because of nationwide lockdowns.
In addition, the COVID-19 pandemic has a major effect on healthcare systems and the HealthCare Professionals (HCPs) who work in them. The lab automation market was booming during the COVID-19, as reported in an article posted by Thermo Fisher Scientific in October 2021. Diagnostic laboratories now have access to a plethora of workflow-solutions that have dramatically increased productivity, efficiency, and reproducibility thanks to the ongoing development of laboratory automation technology. The global lab automation market benefited from the SARS and COVID-19 pandemics because the visionary lab was able to quickly resume near-full productivity while meeting local social-distance requirements.
Global Lab Automation Market Segmentation
The market report for lab automation worldwide is divided into Product, End User and Region
The market is broken down into sub-markets based on product types, such as those that deal with liquids, microplate readers, robots, and others. It is anticipated that the liquid handling products segment will lead the global lab automation market during the forecast period. This is attributable to the fact that the number of new liquid handling products being released by market players is expected to rise during the forecast period.
Research organizations, biopharmaceutical and pharmaceutical companies, and others make up the End User sub-segment of the market. As a result of rising R&D efforts, research institutes stand to gain the most market share during the forecasted time frame.
The global market is divided into the regions of North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa, based on geography. Increases in the number of partnerships between major players in the market point to North America as the region with the greatest potential for growth in the global lab automation market over the next few years.
Global Lab Automation Market Cross Sectional Analysis
The end user segment is preponderant due to the many benefits of lab automation in academic institutions. According to a report from the National Center for Biotechnology Information dated November 2020, the use of lab automation instruments in research institutes has a number of advantages, including improved reproducibility, increased laboratory efficiency, accelerated translation, and most importantly, increased personal safety.
In terms of product type, the European market is expected to be led by liquid handling products for the duration of the forecast period. For example, SPT Latch Ltd of the United Kingdom, which specializes in laboratory automation for the life sciences sector, introduced their apricot DC1 automated liquid handling platform, which makes use of dual-core pipetting technology, in February 2022.
Global Lab Automation Market: Key Developments
One of the world’s leading manufacturers of analytical instruments, genetic testing and diagnostic tools, etc., PerkinElmer Inc., introduced their GC 2400 Platform, a highly automated gas chromatography solution, in June of 2021. The forecast period is expected to be a time of rapid expansion for the gas chromatography market, which is expected to be driven by the increasing degree to which this technique can be automated.
Biosero, a division of BICO Biosciences, released news that a key patent supporting its Green Button Go Scheduler software for laboratory automation had been issued in May 2022. It is automated scheduling software for use in laboratories, and it facilitates the operation of laboratory equipment.
MicrofastTM microbial count plates for food safety testing were made available worldwide in July 2022 by PerkinElmer Inc., a provider of analytical instruments, genetic testing, diagnostic tools, etc. Aerobic, Escherichia coli, coliform, enterobacteriaceae, yeast and mold, and staphylococcus aureaus contamination in dairy, meat/poultry, fruit/vegetable, baked goods, and environmental surface samples can be quantified quickly, accurately, and easily with MicrofastTM microbial count plates.
Thermo Fisher Scientific, a leading manufacturer of analytical laboratory instruments, and Tecan Trading AG, a leading global provider of laboratory equipment specializing in the development, production, and distribution of instruments, jointly announced the introduction of an automated, real-time PCR solution in August 2020 to facilitate widespread, scalable COVID-19 testing.
Global Lab Automation Market: Key Trends
The market for laboratory automation is anticipated to grow as a result of rising market players’ adoption of strategies like collaborations.
For example, in January of 2020, Eli Lilly and Company, a global leader in healthcare, and Striates Inc., a leader in on-demand discovery science, introduced a remote-controlled robotic cloud lab, an automated platform that can design, synthesize, purify, analyze, manage samples, and test hypotheses in the drug discovery process.
Global Lab Automation Market: Restraint
Lab automation instruments have limitations that will slow the market.
To cite just one example, in November 2020, a review was released by Frontiers Bioengineering and Biotechnology stating that the lab automation market faces challenges from factors including incorrect application, obsolescence, innovation inhibition, and others. Despite the challenges faced by scientists who wish to automate some or all of their experimental procedures, many instances of laboratory automation development are carried out “in-house,” without the assistance of a commercial partner or a sizable grant specifically designated to funding automation. The potential for research teams to adopt automated procedures is growing.
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Lab Automation Market Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Lab Automation Market Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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