REDDING, Calif., May 16, 2024 /PRNewswire/ -- According to a
new market research report titled, 'Lab Automation
Market Size, Share, Forecast, & Trends Analysis by
Product (Liquid Handling, Nucleic Acid Purification System,
Microplate Reader, ELISA, LIMS, ELN) Application (Drug Discovery,
Diagnostics, Genomics) End User – Global Forecast to
2031,' published by Meticulous
Research®, lab automation market is projected to
reach $11.31 billion by 2031, at a
CAGR of 7.3% from 2024 to 2031.
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Lab automation refers to the use of automated systems,
instruments, and software to streamline and optimize various
laboratory processes and tasks. It involves the deployment of
automated systems and technologies that are intended to enhance
efficiency and accuracy in laboratory processes.
The increasing pharmaceutical and biotech R&D expenditure,
growing demand for automated labs and instruments, increasing
prevalence of chronic and infectious diseases, and government
initiatives supporting life sciences R&D are the factors
driving the growth of the lab automation market. Factors such as
growth in genomics and proteomics, increasing focus on food safety
and quality, increasing awareness and adoption of personalized
medicines, and emerging economies are a few opportunities that
would help grow the market in the future.
However, the high costs of advanced lab automation equipment and
funding and infrastructure limitations in developing countries are
restraining the market's growth. Additionally, equipment
maintenance and repair and data security and privacy concerns are
major challenges for the market growth.
Adoption of Artificial Intelligence (AI) in Laboratory
Automation
In recent years, laboratories have increased their focus on
automating workflows to boost efficiency and accelerate research.
Manual processes are highly prone to human error. Laboratory
automation ensures high precision and prevents human-introduced
errors. Some lab automation workstations are equipped with robotic
arms and sophisticated software, which ensures high precision and
consistent dispensing of liquids.
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There have been several technological advancements in the field
of laboratory automation, one of which is the use of Artificial
Intelligence (AI) and Machine Learning (ML). The reliance of
laboratories on AI and ML is increasing rapidly due to a shortage
of skilled professionals in laboratories. AI and ML help automate
workflows, prioritize samples, differentiate between conditions,
verify results, and perform quality checks. In May 2023, A. Menarini Diagnostics Ltd. (U.K.)
announced the launch of Prime MDx, a fully automated molecular
diagnostics platform. This sample-to-result platform allows users
to process a variety of sample types through real-time Polymerase
Chain Reaction (PCR). This platform can run up to 5 different
assays per sample with a capacity of 240 samples per day using
AI-driven software.
Adopting AI can significantly increase the efficiency of
laboratories. Clear Labs, Inc. (U.S.), a private genomic testing
company, offers a fully automated next-generation sequencing
platform for clinical diagnostics. The company offers Clear Dx and
Clear Safety Automated Whole Genome Sequencing (WGS) instruments.
These instruments use sequencing, robotics, and cloud-based
analytics to detect various types of infections and conditions.
Clear Dx was initially used to screen salmonella and listeria in
food products but was redirected to detect pathogens and
microorganisms during the COVID-19 pandemic.
The global lab automation market is segmented by Product
[systems {automated liquid handling systems, automated nucleic acid
purification systems, automated ELISA systems, automated microplate
readers, automated storage and retrieval systems, and other lab
automation systems}, and software{laboratory information management
software (LIMS), electronic lab notebook (ELN),
workstation/equipment automation software, and scientific data
management systems (SDMS)}], Application (drug discovery, clinical
diagnostics, genomics, and proteomics research, and other
applications), End User (pharmaceutical & biotechnology
companies, hospitals & diagnostic laboratories, research &
academic institutes, and other end users) and Geography. The study
also evaluates industry competitors and analyzes their market share
at global and regional levels.
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Based on product, in 2024, the systems segment is expected to
account for the largest share of 71.5% of the lab
automation market. The factors attributed to the large market
share of this segment include improved speed, efficiency, low labor
cost, simultaneous variable testing, rising pharmaceutical R&D
expenditure, and the advantages of automated liquid handling
systems while reducing errors. Systems are automated instruments
that are integrated with advanced technologies that enable new and
improved processes, primarily eliminating repetitive tasks. Some of
the systems included in this segment are automated liquid handling
systems, automated ELISA systems, automated nucleic purification
systems, and automated microplate readers, among others. Recently,
laboratories have been facing increasing pressure to improve the
quality, efficiency, and throughput, which can be solved using lab
automation. Some of the instruments, such as automated liquid
handling systems, can test several samples, either the same or
different, at the same time, efficiently decreasing sample workload
on laboratories and allowing sample variable testing, hence
contributing to the large share of the market.
Based on application, in 2024, the drug discovery segment is
expected to account for the large market share of 35.5% of
the lab automation market. The large share of the segment is
attributed to factors such as an increased focus on drug
development, improved accuracy, efficiency, and throughput of the
drug delivery process, the ability to screen a large number of
compounds, and government initiatives supporting drug discovery and
development. The government initiatives aim to enhance the
effectiveness of drug discovery and development processes by using
advanced technologies and automation. For instance, in March 2023, the Governor of New York State announced the establishment of
a USD 50 million pilot for the "Lab
of the Future", which was supported by USD
25 million through the Empire State Development Grant. This
initiative was started to incorporate automation, artificial
intelligence, and machine learning in the preclinical drug
discovery process to make it faster, data-driven, and
cost-effective, hence contributing to the large share of the
market.
Based on end user, in 2024, the pharmaceuticals and
biotechnology companies segment is expected to account for the
large share of 41% of the lab automation market. Increasing
pharmaceutical R&D expenditure, rising demand for new drug
discovery and development, growing focus on increasing overall
productivity, and initiatives by pharmaceutical and biotechnology
companies to expand their research capabilities by opening new
research centers contribute to the large market share of this
segment. The expansion of companies through new research
laboratories and centers will increase the production and
development of drugs and decrease sample workload. For instance, in
January 2023, Insilico medicine
(U.S.), an AI-driven drug discovery company, launched their
6th generation Intelligent Robotics Drug Discovery
Laboratory. This is a fully automated AI-powered robotics lab that
performs several processes, such as target discovery, compound
screening, precision medicine development, and translational
research.
Geographically, in 2024, North
America is expected to account for the largest share of
40.8% of the lab automation market, followed by Europe, Asia-Pacific, Latin
America, and the Middle
East & Africa. The
North America lab automation is
estimated to be worth USD 2.8
billion in 2024.
However, the Asia-Pacific lab
automation market is slated to register the highest CAGR during the
forecast period. The high market growth in Asia-Pacific is attributed to improving
healthcare infrastructure, increasing disposable income, expanding
pharmaceutical & biotechnology industry, and increasing
pharmaceutical research and government funding. Improvement in
healthcare infrastructure, especially in developing countries,
leads to reduced costs, improved accuracy, and faster diagnosis.
This, coupled with the use of automated instruments, can
substantially increase the growth of the market.
The report also includes an extensive assessment of the key
strategic developments of leading market participants in the
industry over the years (2021–2024). The global lab automation
market has witnessed product launches, product enhancements,
partnerships, collaborations, agreements, and expansions in the
last couple of years.
Some of the key players operating in the global lab automation
market are Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad
Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Revvity,
Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Waters Corporation
(U.S.), Tecan Group Ltd. (Switzerland), F. Hoffmann-La Roche AG
(Switzerland), Siemens
Healthineers AG (Germany), Abbott
Laboratories (U.S.), Becton, Dickinson, and Company (U.S.), Hudson
Robotics, Inc. (U.S.), and Hamilton Company (U.S.).
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Scope of the Report:
Lab Automation Market Assessment–by Product
- Systems
- Automated Liquid Handling Systems
- Automated Nucleic Acid Purification Systems
- Automated ELISA Systems
- Automated Microplate Readers
- Automated Storage and Retrieval Systems
- Other Lab Automation Systems
Note: Other lab automation systems include automated incubators,
automated cell counters, and automated cell imaging systems, among
others
- Software
- Laboratory Information Management Systems (LIMS)
- Electronic Lab Notebook (ELN)
- Workstation/Equipment Automation Software
- Scientific Data Management Systems (SDMS)
Lab Automation Market Assessment–by Application
- Drug Discovery
- Clinical Diagnostics
- Genomics & Proteomics Research
- Other Applications
Note: Other applications include bioprocessing in
biotechnology, cell analysis, basic research, forensic analysis,
and quality control in the F&B industry.
Lab Automation Market Assessment–by End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Research & Academic Institutes
- Other End Users
Note: Other end users include the food & agriculture
industry, forensic laboratories, blood banks, and environmental
& quality testing.
Lab Automation Market–by Geography
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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Related Reports:
Clinical Lab Automation Market Size, Share, Forecast, &
Trends Analysis by Product (Liquid Handling, Nucleic Acid
Purification System, Microplate Reader, Automated ELISA, Software),
End User (Hospitals, Diagnostic Laboratories) – Global Forecast to
2031
NGS Automation Market by Product (Platform, Consumables),
Sequencing Type (Whole Genome, Exome, Targeted), Application (Drug
Discovery, Diagnostics), End User (Hospitals, Diagnostic
Laboratories, Pharmaceutical, Academic) - Global Forecast to
2029
Laboratory Information Management System (LIMS) Market by Mode
of Delivery (On-premises, Cloud), Offering (Software, Services),
Type (Multi-purpose, Purpose-built), End User (Life Science, Food
& Beverage, Petrochemical, Chemical) - Global Forecast to
2030
Related Blogs:
Top 10 Companies in Lab Automation Market
Importance of Automation in Streamlining Laboratory
Workflows
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