The Lab Automation Market is projected to reach $10.54 billion by 2030, at a CAGR of 7.2% from 2023 to 2030. Laboratory 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. Lab automation is used in a wide range of industries, including pharmaceuticals, biotechnology, and healthcare, among others. Lab automation equipment streamlines workflows, reducing manual errors and increasing productivity, which makes it highly essential for laboratories with large sample loads.
The increasing pharmaceutical and biotech R&D expenditures, the growing demand for automated labs and instruments, the 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. Additionally, growth in genomics & proteomics research, the increasing focus on food safety and quality, rising awareness & growing adoption of personalized medicine, and emerging economies serve as opportunities for the market.
However, the high costs of advanced lab automation equipment and the funding and infrastructure limitations in developing countries restrain the growth of the market. Additionally, equipment maintenance and repair and data security and privacy concerns are some of the challenging factors in the market.
Increasing Pharmaceutical and Biotech R&D Expenditures
Funding and investments are critical for the lab automation industry in driving innovation, advancing research & development, and improving patient outcomes. Investments come from various sources, such as governments, associations, and venture capitalists. For instance, according to the National Venture Capital Association, venture capital investments and funding for biotech and pharmaceutical companies in the U.S. reached USD 30.7 billion in 2022 from USD 18.7 billion in 2019. Similarly, Merck KgaA (Germany) has a program called the Advance Biotech Grant Program, which is offered to biopharmaceutical, pharmaceutical, start-ups, entrepreneurs, scientists and students in different regions of the world. This program awards products, services, and consultations to the awardees to help accelerate their growth in the market. Increasing funding and investments are driving the growth of the life sciences industry, boosting the adoption of laboratory automation equipment. Investments and funding are used for various purposes, such as:
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Life sciences research often requires sophisticated experiments, analyses, and data processing equipment. With more funds available, researchers and laboratories can invest in state-of-the-art or advanced equipment, such as DNA sequencers, mass spectrometers, high-throughput screening systems, and other cutting-edge technologies.
- Funding can support R&D efforts to develop new and improved laboratory equipment with enhanced features, capabilities, and performance. It can also be used for innovation in areas such as automation, data analysis, sample preparation, and miniaturization, leading to the introduction of new products and technologies.
Growing Adoption of Laboratory Automation For Personalized Medicines and Genomics & Proteomics Research
The growing awareness & adoption of personalized medicines are expected to generate growth opportunities for the players operating in the laboratory automation market. The increasing awareness and adoption of personalized medicines are driving the demand for specialized and automated laboratory equipment and technologies that enable precise, error-free, and accurate genetic and molecular analysis. Personalized medicine heavily relies on genetic testing, sequencing, genomic & proteomic information analysis, and biomarker identification and validation, necessitating the use of advanced laboratory equipment, such as DNA sequencers, gene sequencers, PCR machines, real-time PCR systems, next-generation sequencers, mass spectrometers, immunoassay analyzers, and chromatography systems to produce accurate results.
Additionally, with advancements in DNA sequencing technologies and reduced costs, there has been a significant increase in demand for DNA sequencing in genomics research, clinical diagnostics, and personalized medicine. This demand is boosting the need for high-throughput DNA sequencers, sample preparation equipment, and data analysis tools, which is expected to generate growth opportunities for laboratory equipment manufacturers and suppliers. Proteomics research often requires complex equipment for protein separation, identification, and characterization, such as mass spectrometers, protein analyzers, and protein purification systems. As proteomics research advances, the demand for specialized and automated laboratory equipment for proteomics applications is expected to rise, generating opportunities for market players to develop and supply such equipment.
Key Findings in the Lab Automation Market Study:
The Systems Segment is Expected to Account for the Largest Share of the Market in 2023
Based on product, the lab automation market is segmented into systems and software. In 2023, the systems segment is expected to account for the largest share of the market. The main factors contributing to the large market share of this segment are the elimination of repetitive tasks in laboratories, the increasing prevalence of genetic diseases, and the advantages of automated instruments, such as high efficiency, increased throughput, greater accuracy, and reduced manual intervention. The instruments typically used in laboratories to carry out certain procedures are usually larger in size and require manual adjustment. However, in the case of automated systems, these instruments are usually compact and do not require manual intervention for any of the steps. This speeds up the research process and provides precision in the tasks, proving to be an efficient, fast, and accurate method to carry out research, thereby contributing to the growth of the market.
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The Drug Discovery Segment is Expected to Account for the Largest Share of the Market in 2023
Based on application, the lab automation market is segmented into drug discovery, clinical diagnostics, genomics & proteomics research, and other applications. In 2023, the drug discovery segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the ability of automated labs to screen large numbers of compounds more rapidly, reduction of human error, and ability to gain more reproducible, consistent results supporting the largest adoption of automated lab equipment for drug discovery applications. Further, rising pharmaceutical R&D expenditure and government initiatives supporting drug discovery and development are also positively impacting the market.
The Pharmaceutical & Biotechnology Companies Segment is Expected to Account for the Largest Share of the Market in 2023
Based on end user, the lab automation market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, research & academic institutes, and other end users. In 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the high pharmaceutical R&D expenditure, rising demand for new drug discovery and development, growing focus on increasing overall productivity, growing pharmaceutical and biotechnology R&D expenditure, and initiatives by the pharmaceutical and biotechnology companies to expand their research capabilities by opening new research centers. The introduction of new research centers will lead to an increase in the number of experiments conducted. These experiments can be conducted faster and with more accuracy by using automated lab instruments, therefore driving the growth of the market.
Asia-Pacific: Fastest Growing Regional Market
Asia-Pacific is slated to register the highest CAGR in the lab automation market 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.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments that led market participants to adopt over the past three years. The key players profiled 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.).
Report Summary:
Particular
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Details
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Page No
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247
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Format
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PDF
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Forecast Period
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2023-2030
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Base Year
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2022
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CAGR
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7.2%
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Market Size (Value)
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$10.54 billion
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Market Size (Volume)
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NA
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Segments Covered
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Product, Application, and End User
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Countries Covered
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North America (U.S., Canada), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Latin America, Middle East & Africa
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Key Companies
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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.), 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)
- 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
Key questions answered in the report: