The Global Lab Automation Market was valued at US$ 4.0 Bn in 2020 and is expected to reach US$ 5.7 Bn by 2027, with a growing CAGR of 5.0% during the forecast period (2021-2027).
Laboratory automation is defined as any device, software, or process that minimizes human intervention and improves the efficiency of a laboratory. Lab automation utilizes and optimizes lab technology. Laboratory automation can include the use of robots, conveyors, software, machine vision, etc., which provide benefits such as reduced cycle times, increased productivity, improved workflow scope, and improved data quality. Laboratory automation or robotics products are available in a modified form to suit the needs of a particular laboratory or researcher.
The lab automation market is anticipated to witness significant growth owing to rise in R&D investments in pharma industry. Moreover, increase in demand for atomization in processes for food safety, standardization of work, stringent quality control from the medical industry is anticipated to propel the market growth. In addition to this, the market is expected to exhibit moderate growth as it maximizes the accuracy of laboratory results, minimizing human errors.
According to an article, as approximately 60-70% of medical decisions related to diagnosis and treatment involve the laboratory, the lab processes has to be definite and errorless. Laboratory errors have been reported a frequency of 0.012-0.6% of all test results. Lab automation guarantees a prominent decrease in diagnostics and patient management errors.
The lab automation market is witnessing a hindering in the forecast period (2021-2027), owing to factors such as slow adoption of automation among small and medium-sized laboratories, and a long gestation period for workflow implementation. On the other side, improving healthcare infrastructure across emerging countries such as India, China, Indonesia, and the Philippines is providing a lucrative opportunity for the lab automation market. For instance, New York City is witnessing a reduced rate of hospital admissions by about 40% owing to the remote monitoring of chronically ill elderly patients. In India, an entrepreneur has proved that high-quality; no-frills maternity care can be provided for one-fifth of the price charged by the country’s other private providers.
The Global Lab Automation Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the market are:
The unique insights provided by this report also include the following:
Based on product type, the automated workstations type segment is expanding at a highest growth rate owing to its easy usability and flexibility, during the period 2020-20
The lab automation market has been divided into Off-the-shelf Automated Work-cells, Robotic Systems, Automated Workstations, and Automated Storage & Retrieval Systems (ASRS). Amongst all, the automated workstation segment was anticipated to maintain a significant share in 2020. The dominance is expected to continue owing to the benefits offered by Automated ELISA, Automated Liquid handling systems, Automated Nucleic acid purification systems, and Microplate readers which renders flexibility and are easily integrated with the existing instruments. The automation of the workstations have been adding up varied benefits such as incubation timings, incubation steps are not required to be focused by the skilled worker and lessening of man power required.
Based on applications, the clinical diagnostics segment is dominating the lab automation market throughout the forecast period owing to increased usage by market players coupled with technological advancements
The clinical diagnostics segment was accounted for the largest segment with approximately 27.0% of market shares in the year 2020. This high shares are credited to factors such as, an increase in the number of automation systems provided by lab automation industry players. For instance, in May 2018, Intel and Novartis utilized Deep Neural Networks (DNN) to support early drug discovery through HCS acceleration. Moreover, atomization helped in lessening up of time required to train image analysis models from 11 hours to 31 minutes. Advances in technology, and an increase in the use of automation systems due to advantages such as reduced risk of contamination and elimination of human errors are expected to propel the lab automation market growth.
Based on the end-users, the biotechnology and pharmaceutical companies accounted the largest share
The biotechnology and pharmaceutical companies sectors are anticipated to hold the largest market share of the lab automation market. Owing to factors such as product complexity, price publications, high costs due to errors, and the need for quality consistency. As in any other industry, the consistently high product quality is much appreciated in biotechnological industry by clients. Product manufacturers and services providers are implementing quality management processes and certifications to cope up with relevant standards. Whether a company works with GMP guidelines or DIN and ISO standards, compliance is always a priority legal requirement.
According to a 2020 Bain survey, around 84% of the companies across the biotech and pharma industry spectrum plan to take action in the direction of accelerating automation efforts.
Based on regions, the lab automation market in North America accounted the largest share in 2020 owing to the presence of advanced technological infrastructure, followed by Asia Pacific and Europe
The North American region has observed an increased government investment for research and innovation in the region. As North America and Europe were the first to adopt technologies, these regions are hence accounted the largest market share in forecast period. According to IFR (International Federation of Robotics), the robot density has increased in the U.S. from 1.79 robots per thousand workers in 2017 to 2.28 robots per thousand workers in 2020. In 2019, the US cars market was again the second largest car market in the world, following China, with the second largest production volume of cars and light vehicles. Both USA and China are considered highly competitive markets for car manufacturers across the globe.
However, the Asia-Pacific region is projected to grow rapidly during the forecast period. This growth is attributable to the availability of the skilled workforce needed in the field of laboratory automation market and the improved economic situation in the region. Out of all countries in Asia Pacific, the South Korea is anticipated to hold the largest robots per 1000 worker ratio. According to IFR report 2019, the South Korea market stands second in the list with 868 units per 10,000 employees in 2019.
The report also provides in-depth analysis of Lab Automation market dynamics such as drivers, restraints, opportunities, and challenges
Drivers
Restraints
Opportunities
COVID-19 Impact on the Lab Automation Market Analysis
The COVID-19 has significantly increased the process of drug discovery and research efforts. The pressure has increased on pharmaceuticals and clinical laboratories owing to such processes. The shortening of Turn Around Time (TAT) has priority in laboratories all around the world. This is leading to a greater demand for microplate readers, automated liquid handlers, and robotics. However, for hospitals and clinics, the epidemic has resulted in lessening of revenues and margins and decreased investments on lab automation and technology.
The report also provides an in-depth analysis of key trends in Lab Automation market
| Sr. No. | Trends | Impact |
| 1 | The growing adoption of high-throughput solutions has ensured the adoption of lab automation in varied industries | Positive |
| 2 | The increasing collaborations among industries and academia is paving the way to increased lab automation as the industry-academia collaborations are a key to catalyze innovation and growth in technology | Positive |
| 3 | The rising market for drug discovery market is increasing with the worsening of COVID-19 situations | Positive |
The report also provides an in-depth analysis of recent news developments and investments
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