SAN FRANCISCO, July 26, 2021 /PRNewswire/ -- The global lab automation marketsize is expected toreach USD 8.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2021 to 2028. Key drivers of the market include a rise in the gap between the availability of trained laboratory personnel and the demand for laboratory procedures and high reproducibility and accuracy obtained through lab automation.
Other drivers facilitating growth include smaller volumes of reagents and samples required, personnel safety, progressing drug discovery, miniaturization of the process thus leading to low reagent cost, and clinical diagnostics. The market is anticipated to witness various lucrative opportunities for growth owing to an increasing prevalence of infectious diseases and a rising number of clinical studies which are expected to increase the number of diagnostic tests performed in the laboratories.
Key Insights & Findings:
The continuous flow segment dominated the overall market in terms of revenue in 2020 owing to the high adoption of continuous flow in laboratories for providing high-quality services
The total automation systems segment accounted for the largest revenue share in 2020 owing to various benefits offered by these systems, advancements in the field of automation, and a rise in demand for flexible automation solutions for analytical measurements
The clinical chemistry analysis segment held the largest revenue share in 2020 owing to technological advancements, increase in automation systems provided by market players, and growth in the usage of automated systems owing to their benefits, such as the reduced risk of contamination and elimination of human error, among other benefits
The market is anticipated to be dominated by the North American region owing to the presence of well-established healthcare infrastructure, which has led to an increase in the adoption of laboratory automation systems in the region
The rise in applications of lab automation is one of the major factors anticipated to boost growth during the forecast period. Clinical chemistry applications have been replaced by lab automation for tasks such as solid-phase extraction, powder dosing, dilution to weight, sample extraction, and sample preparation for analysis facilitating increasing productivity, reliable results, and interpretation, safer working conditions for laboratory personnel, lower costs, reduced laboratory space, and reduced turnaround times. Similarly, for synthetic biology workflow processes, tasks such as DNA fragment construction, the culture of the host organism, colony selection, final data collection, and analysis have been replaced by automation processes. Therefore, an increase in the number of applications is expected to fuel their adoption in the near future.
North America's market accounted for the largest revenue share in 2020 and is expected to maintain its position during the forecast period. The growth is attributed to well-established healthcare infrastructure, an increase in the adoption of these systems, the local presence of major players, a supportive reimbursement framework, and the increasing prevalence of chronic and infectious diseases.
Major players are mostly involved in contributing to innovations and technological advancements, impacting market growth positively. A rise in product launches undertaken by dominant players is anticipated to boost the market growth. In April 2019, Qiagen launched the QIAstat-Dx in Europe, which provides a fully integrated and one-step molecular analysis of common syndromes and oncological and other diseases. This initiative was undertaken by the company to enhance the distribution of its products in Europe. Such initiatives are expected to drive the market over the forecast period.
Grand View Research has segmented the global lab automation market on the basis of process, automation type, end use, and region:
Lab Automation Process Outlook (Revenue, USD Million, 2016 - 2028)
Centrifugal Discrete Processing
Random Access Discrete Processing
Lab Automation Type Outlook (Revenue, USD Million, 2016 - 2028)
Total Automation Systems
Modular Automation Systems
Specimen Acquisition & Identification & Labelling
Sample Loading & Aspiration
Reagent Handling & Storage
Sample Analysis & Measurements
Lab Automation End-use Outlook (Revenue, USD Million, 2016 - 2028)
Clinical Chemistry Analysis
Photometry & Fluorometry
Lab Automation Regional Outlook (Revenue, USD Million, 2016 - 2028)
List of Key Players of Lab Automation Market
Thermo Fisher Scientific, Inc.
Agilent Technologies, Inc.
Bio Tek Instruments, Inc.
Aurora Biomed Inc.
BMG LABTECH GMBH
Tecan Group Ltd.
F. Hoffmann-La Roche
Check out more studies related to lab automation and associated technologies, conducted by Grand View Research:
Laboratory Information Management System Market – Global laboratory information management system market size was valued at USD 1.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. Technological advancements pertinent to pharmaceutical laboratories and the rising demand for lab automation are expected to fuel the demand.
Laboratory Informatics Market – Global laboratory informatics market size was estimated at USD 3.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. An increase in demand for laboratory automation is expected to fuel the adoption in the coming years.
Clinical Laboratory Service Market – Global clinical laboratory service market size was valued at USD 200.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. The increasing burden of chronic diseases and growing demand for early diagnostic tests are expected to be high impact-rendering drivers for market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.