Laboratory Automation Market Outlook
According to the report by Expert Market Research (EMR), the global laboratory automation market is projected to grow at a CAGR of 5.50% between 2024 and 2032. Aided by escalating spending on healthcare and increased research and development activities involving trials, the market is expected to grow significantly by 2032.
Laboratory automation encompasses a specialised automation used in laboratories to perform tasks like sample preparation, mixing, or measurements. This technology plays a critical role in both clinical and research laboratories, helping to process large volumes of tests more efficiently. Besides saving time, it reduces the error rate, ensuring that the workflow is streamlined, optimised, and reliable.
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The surge in demand for diagnostic testing, particularly in light of recent global events like the COVID-19 pandemic, is significantly driving the laboratory automation market growth. The necessity for swift, accurate, and mass-scale testing has led laboratories to adopt automation, thereby improving their capabilities and boosting productivity. Additionally, the shift towards personalised medicine and genetic research has put an emphasis on the need for high-throughput screening, further fuelling this growth.
The role of laboratory automation in diverse sectors adds to its appeal and broadens its application. In pharmaceuticals, laboratory automation aids in drug discovery and pharmacokinetics which fuels its demand ultimately contributing to the escalating laboratory automation market size. For clinical diagnostic labs, automation is crucial for ensuring quick and precise results. In research institutions, automated laboratories facilitate advanced research into complex biochemical pathways. Moreover, the food and beverage industry employ laboratory automation for quality control, thus ensuring consumer safety and adherence to regulatory standards.
Technological advancements represent one of the key laboratory automation market trends. Developments in robotics, artificial intelligence, and machine learning have not only made automation more efficient but have also expanded its scope. Robots can now handle liquid samples as well as solid and even powdered substances, extending the applicability of automated systems. Additionally, AI-powered software algorithms can analyse data more quickly and accurately, providing real-time insights that are crucial for timely decision-making.
The escalating need for higher throughput and reduced turnaround time in clinical labs, alongside an increase in research activities, significantly contributes to the laboratory automation market demand. Automation in clinical labs is crucial for tasks such as sample sorting, pre-analytical and post-analytical phase automation, and automated chemistry and immunochemistry tests. Research institutions are focusing on automation for high-throughput screening, particularly in areas like genomics and proteomics.
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Laboratory Automation Market Segmentation
The market can be divided based on type, equipment and software type, end use, and region.
Market Breakup by Type
- Modular Automation
- Whole Lab Automation
Market Breakup by Equipment and Software Type
- Automated Clinical Laboratory Systems
- Workstations
- LIMS (Laboratory Information Management Systems)
- Sample Transport Systems
- Specimen Handling Systems
- Storage Retrieval Systems
- Automated Drug Discovery Laboratory Systems
- Plate Readers
- Automated Liquid Handling Systems
- LIMS (Laboratory Information Management Systems)
- Robotic Systems
- Storage Retrieval Systems
- Dissolution Testing Systems
Market Breakup by End Use
- Biotechnology and Pharmaceutical Companies
- Hospitals and Diagnostic Laboratories
- Research and Academic Institutes
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Laboratory Automation Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global laboratory automation market. Some of the major players explored in the report by Expert Market Research are as follows:
- Danaher Corp.
- Abbott
- PerkinElmer Inc.
- Tecan Trading AG
- Siemens Healthcare GmbH
- ThermoFisher Scientific Inc.
- Agilent Technologies, Inc.
- Others
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