The global laboratory automation market The size was valued at USD 4.64 billion in 2020, which is expected to reach USD 7.84 billion by 2027, registering a CAGR of 6.5% during the forecast period (2021-2027). Lab automation is a versatile approach to developing and optimizing lab technologies; therefore, it improves medical tests and processes. An increasing range of clinical trials is expected to augment the global laboratory automation market over the forecast period. Moreover, the development and launch of innovative laboratory automation solutions are also expected to contribute to the growth of the market.
Factors affecting the laboratory automation market during the forecast period:
- The growing demand for laboratory automation in the pharmaceutical and biopharmaceutical sector is expected to be the growth of the global laboratory automation market over the forecast period.
- Rising geriatric population and prevalence of chronic diseases, such as cardiovascular diseases and cancer, are driving the global laboratory automation market.
- High government expenditure and investment in biotechnology and drug discovery is driving the growth of the global market.
- Lack of integration and low priority of expensive lab automation solutions in small and medium sized labs will restrain the market growth over the forecast period.
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Impact of COVID-19 on Laboratory Automation Market:
The COVID-19 pandemic is expected to impose a huge impact on the entire healthcare sector. Governments and various associations with several market players are currently involved in the development of effective solutions for the treatment of COVID-19. This, in turn, contributes to global sales of laboratory automation equipment and software. Lab automation equipment is finding many use cases in biopharmaceutical companies and research organizations engaged in COVID-19 vaccine and drug development. A growing number of labs testing for COVID-19 is also expected to accelerate the demand for lab automation. Therefore, considerable growth in the laboratory automation market value can be expected in 2020.
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The report describes the global laboratory automation market research based on equipment and software, applications and end users.
On the basis of Equipment and Software, Lab Automation has been segmented into –
- Automated workstations
- Microplate readers
- Robotic systems
Based on application, laboratory automation has been segmented into
- drug discovery
- Genomic studies
- Clinical diagnosis
- Microbiology studies
On the basis of end users, laboratory automation has been segmented into
- Biopharmaceutical and pharmaceutical companies
- Research institutions
- University institutes
- Hospitals and diagnostic laboratories
Laboratory Automation Market: Regional Outlook
Based on region, the global laboratory automation market has been segmented into five geographical regions, namely, North America, Europe, Asia-Pacific, South America, Middle- East and Africa. North America holds the largest global laboratory automation market share, followed by Europe and Asia-Pacific. It is further estimated that North America will dominate the global laboratory automation market during the forecast year. Additionally, Asia-Pacific is expected to project the fastest growth in the global laboratory automation market over the forecast period.
Key Competitors in the Global Laboratory Automation Market include-
The global laboratory automation market has a few market players across the globe. Leading lab automation manufacturers operating in the global market are-
- Abbott Laboratories
- Agilent Technologies Inc.
- Danaher Company
- Eppendorf Group
- Hamilton Robotics
- Perkin Elmer Inc.
- QIAGEN AG
- Roche Diagnostics
- Siemens Health
- Tecan Group
- Thermo Fisher Scientific Inc.
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The Laboratory Automation Market report covers comprehensive analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition landscape
- More than 15 company profiles
Regional Analysis of Laboratory Automation Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Laboratory Automation Market: Target Audience
- Laboratory equipment manufacturers
- Venture capitalists and investors
- Contract Manufacturing Organizations (CMOs)
- Contract Research Organizations (CROs)
- Academic and government research institutions
- Lab Automation Consultants