Lab Automation Market,by Product Type,By Application,By End User and by Region-Global Trends,and Forecast to 2025

 

Lab Automation is a multi-disciplinary approach to develop and optimize on technologies in the laboratory, in order to improve the medical tests and processes. It has replaced the manual steps with automated processes, which were potentially dangerous and error-prone.

The global lab automation market is estimated to account for US$ 4,477.0 Mn in terms of value in 2020 and is expected to reach US$ 6,262.3 Mn by the end of 2027.

Global Lab Automation Market: Drivers

Increasing demand for lab automation in the pharmaceutical and biotechnology sector is expected to propel growth of the global lab automation market over the forecast period. Lab automation utilizes high end automated equipment such as automated liquid handling system, microplate reader, and automated storage and retrieval system. It also include software to perform variety of routine lab procedure such as sample analysis, assay performance, mixing of sample, storage of sample, and many other procedures. Lab automation allows improved productivity with less operational time and more accuracy by minimizing the human error in the operational tasks. Automated liquid handling system can perform three different procedures simultaneously such as sample preparation, reagent addition to different plates having samples, and movement of lab ware from periphery to front area of desk.

Moreover, increasing prevalence of chronic diseases is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

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Global Lab Automation Market: Restraints

High cost of automation is expected to hinder growth of the global lab automation market. The high cost of automation is one of the objections that each laboratory faces. The higher investment resists the laboratories to buy the product. Moreover, the need to expand or remodel the laboratory’s workspace serves as a barrier in implementation of the lab automation, as it serves as an extra burden on the costing.

Market Trends/Key Takeaways

Increasing number of clinical trials is expected to propel growth of the global lab automation market. For instance, according to the U.S. National Library of Medicine, the number of clinical trials conducted in the U.S. increased from 30,978 in 2018 to 32,523 in 2019.

Global Lab Automation Market: Competitive Landscape

Major players operating in the global lab automation market include, Tecan Group Ltd., PerkinElmer Inc., Danaher Corporation, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Hamilton Company, COPAN Diagnostics, Inc., Abbot Diagnostics, Eppendorf, Roche Diagnostics, Siemens Healthineers, UiPath, and Porvair Sciences.

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Global Lab Automation Market: Key Developments

Major players in the market are focused on launching new products to expand their product portfolio For instance, in July 2020, Porvair Sciences, a manufacturer of microplates & microplate instruments, launched a new range of low-profile deep well microplates - optimized for laboratory automation.

Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in April 2020, Hamilton Company and Integrated Micro-Chromatography Systems launched the affinityPure STAR assay ready workstation as part of their ongoing collaboration.

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