Lab Automation Market Size to Reach Revenues of USD 8.58 Billion by 2026 - Arizton

CHICAGO, July 7, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global lab automation market report.

The lab automation market is expected to grow at a CAGR of over 8.53% during the period 2020−2026.

Key Highlights Offered in the Report:  

1. COVID-19 has positively impacted the lab-automation market and it has helped the labs to automate the process and to analyze large volumes of samples at a shorter duration, with increased safety to the lab personnel.
2. The systems segment dominated the market and the automated microplate reader, robotic systems are expected to grow at a faster CAGR compared to the other segments, due to increased demand for the error free lab results and increased productivity of the labs.
3. The LIMS segment is dominating the software segment, however the ELN is expected to grow at a faster rate. COVID-19 labs specific LIMS are introduced into the market, which is driving the demand for the LIMS.
4. Drug discovery dominated the application segment, with incremental growth of more than USD 1 billion and CAGR of 8.70% by 2026. The automation process has reduced the human errors and increased the ability to reproduce the same process with accuracy for multiple times.
5. Sub-total automation dominated the market with more than USD 1 billion incremental growth. Most of the mid-sized labs prefer using the partial-automation or subtotal automation process, this is fueling the demand for the sub-total automation process.
6. Biotechnology & pharma-companies are the largest end-users of the lab-automation. The biotechnology research labs, companies and pharma companies largely use the automated process to reduce the human error and turnaround time at the same time to increase productivity.
7. North America dominated the market with largest market share; however, APAC is expected to grow at a faster rate with 11.49% CAGR in the market. The increasing number of companies, increasing number of laboratories in the developing countries are accelerating the demand for the lab automation in the APAC region.

Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product, application, automation, end-user, and geography
• Competitive Landscape – 7 key vendors and 36 other vendors

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Lab Automation Market – Segmentation

• 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.
• 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.
• 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.

Lab Automation Market by Product

• System
• Automated Workstations
• Automated Microplate Reader
• Robotic Systems
• Others
• Software
• LIMS
• ELN
• Others

Lab Automation Market by Application

• Drug Discovery
• Clinical Diagnostics
• Genomics Solutions
• Microbiology
• Others

Lab Automation Market by Automation

• Subtotal Automation
• Task Targeted Automation
• Total Laboratory Automation

Lab Automation Market by End-User

• Biotechnology and Pharma Companies
• Hospitals and Diagnostic Laboratories
• Forensic Laboratories
• Food & Beverages
• Environmental Testing Laboratories
• Research And Academic Institutes

Lab Automation Market – Dynamics

Many industries have already integrated automation and robotics, and the healthcare industry is still catching up. Laboratory robotics can be broadly defined as using robotics technology to conduct scientific studies and research experiments in a safe environment without the interference of human hands. The increasing need to ensure the safety of manual workers and the adoption of stringent regulatory protocols in laboratories have initiated businesses to adopt robotic technologies for critical process applications. Robots maintain accuracy and precision and are highly efficient, thus driving the adoption of robotics in diagnostic laboratories, research, and development centers. The advantage of lab automation using robotics was seen during the COVID-19 pandemic. Robotic labs played a significant role in diagnosing COVID-19 samples as automated robots provide end-to-end solutions. They also connect patients, healthcare providers, healthcare institutions, and public health agencies online on a medical triage platform that can be accessed using a web browser or app on almost any device.

Key Drivers and Trends fueling Market Growth:

• Future of Lab Automation – Smart Labs
• Increased Demand for Task-Targeted Automation
• Adoption of Lab Automation Among Genome Research Labs & Companies
• Increased Product Launches

Lab Automation Market – Geography

In 2020, North America accounted for a share of 42.04% of the global laboratory automation market. North America is dominating the laboratory automation market. Initially, Japan started the lab automation concept and was successful, which was followed by the US. Many hospitals started to automate their labs to manage the shortage of lab technicians and to improve the quality of lab decisions and provide better treatments to people. In the last decade, some insurance companies and government agencies reduced the reimbursement for traditional device-based diagnostics, which were more expensive for insurance companies. This made them move toward modern instruments, and it was when automation was introduced in the market. This situation demanded labs and hospitals to opt for lab automation.

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Lab Automation Market by Geography

• North America
• US
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• Turkey

Major Vendors

• Tecan
• Danaher
• Thermo Fisher Scientific
• Illumina
• Abbott
• Agilent Technologies
• LabVantage

Other Prominent Vendors

• Aurora Biomed
• Accelerated Technologies
• AgileBio
• Autoscribe Informatics
• Ambidata
• BD
• bioMérieux
• Bio-Rad Laboratories
• Blomesystem
• Benchling
• Bio-ITech BV
• CrelioHealth
• CompuGroup Medical
• Dassault Systèmes
• Dotmatics
• Eppendorf
• F.Hoffmann-La Roche
• Gilson
• HighRes Biosolutions
• Hudson Robotics
• Hamilton
• INTEGRA Biosciences
• i-LIMS
• LabLite
• LabLynx
• Modul-Bio
• LabPLUS
• Novatek
• PerkinElmer
• Peak Analysis & Automation
• Promium
• QIAGEN
• Siemens Healthineers
• Synchron Lab Automation
• Sapio Sciences
• Sunquest Information Systems 

Explore our healthcare & lifesciences profile to know more about the industry.

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SOURCE Arizton Advisory & Intelligence