Lab Automation Market Size Anticipated to Reach USD 16 billion by 2035

Lab automation market is anticipated to grow at a CAGR of 9.3% during the period 2023-2035

 

According to a recently published report by Roots Analysis, due to the ease of use of various automated instruments, including automated liquid handling systems, analyzers, automated storage and retrieval systems (ASRS), along with the enhanced accuracy and reproducibility, and minimal requirement of manual labor, the market is anticipated to witness steady growth in the future.

Lab Automation Industry Overview

The global lab automation market is anticipated to grow at a CAGR of 9.3% from 2023-2035, reaching USD 16 billion by 2035

Laboratory automation is one of the most significant developments in diagnostic laboratory sciences in recent years. The purpose of laboratory automation, which began in the 1950s, is to reduce the turnaround time for laboratory testing and reduce human error. In addition, automation reduces the number of errors and allows laboratory staff to spend more time and effort on quality control. Additionally, laboratory automation involves the use of numerous tools and machinery pieces. Various types of automation are used in different labs depending on the needs and workflow of the laboratory. All manual test processes, such as sample collection, reagent delivery, reaction, result measurement and data analysis can be automated. Laboratory automation is typically categorized based on the complexity of the instruments integrated, ranging from no automation, where all analyzers are standalone devices, to partial laboratory automation, where laboratory analyzers are connected to and partially integrated with preanalytical workstations, such as integrating clinical chemistry and immunochemistry testing, to total laboratory automation (TLA), where the majority of analyzers are performing various types of analyses and are physically integrated by assembly  lines. Interestingly, TLA consists of preanalytical, analytical and postanalytical phases of the laboratory process, that are all connected by a track system and have varying degrees of success in shortening turnaround times while also boosting lab output.

Browse 120+ figures and 120+ market data tables spread across 230+ slides and detailed Table of Content on “Lab Automation Market by Stage of Automation, Type of Instrument, Application, End-user and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” here: https://www.rootsanalysis.com/reports/lab-automation-market.html

Market Drivers

Several factors are contributing to the market growth of lab automation instruments. Some of these factors include higher throughput in research and diagnostics, increased demand for efficiency, cost reduction through process automation and the need for improved accuracy and reproducibility in scientific experiments. Additionally, advancements in technology, such as artificial intelligence and robotics, contribute to the growth of lab automation by enabling more sophisticated and precise laboratory processes.

Market Restraints

One of the primary restraints associated with this industry includes the high cost of initial setup. The integration of automation systems into the existing manual workflow is complex and requires skilled labor to operate. Further, these systems have high maintenance costs, which can be challenging for some players involved in this domain. Additionally, the potential resistance to change within traditional laboratory settings can also pose obstacles to the widespread adoption of lab automation technologies.

Growth Factors

Despite the challenges, several growth factors continue to drive the lab automation market forward. One notable factor is the growing demand for accurate, real-time and fast results. Further, the COVID-19 pandemic has underscored the importance of automation in handling large-scale testing and sample processing, contributing to the accelerated adoption of lab automation technologies. Given the advantages and growing usage of these products, more industry players are anticipated to expand their existing portfolio to offer technologically advanced lab automation instruments.

Lab Automation Market Segments

Based on the stage of automation, the market is segmented into Pre-analytical Stage, Analytical Stage, Post-analytical Stage and Total Lab Automation.

• The pre-analytical stage segment led the lab automation market, capturing the largest revenue share of close to 45.0% in 2023.
• The total lab automation stage segment is anticipated to show the highest market growth potential during the forecast period of over 13% annually.

Based on the type of instrument, the market is segmented into Automated Liquid Handling Systems, Automated Microplate Readers, Automated Sampling Systems, Analyzers, Automated Storage and Retrieval Systems (ASRS), and Other Instruments.

• The automatic liquid handling systems segment led the lab automation market, capturing the largest revenue share of over 50.0% in 2023.
• The analyzers segment is anticipated to show the highest market growth potential during the forecast period of over 12% annually.

Based on the application, the market is segmented into Diagnostics, Genomic Solutions, Microbiology, Drug Discovery, Proteomic Solutions and Other Applications.

• The diagnostics segment led the lab automation market, capturing the largest revenue share of close to 45.0% in 2023.
• The drug discovery segment is anticipated to show the highest growth potential by growing at a CAGR of more than 12% during the forecast period.

Based on the end user, the market is segmented into Biotechnology and Pharmaceutical Industries, Research and Academic Institutes and Other End Users.

• The biotechnology and pharmaceutical industries segment led the lab automation market, capturing the largest revenue share of close to 55.0% in 2023.
• The other end users segment, including hospitals and diagnostic laboratories is anticipated to show the highest growth potential by growing at a CAGR of over 11% during the forecast period.

Based on the key geographical regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America.

• The North America dominated the lab automation market and accounted for the largest revenue share of around 40.0% in 2023.
• In Asia-Pacific, the lab automation market is anticipated to demonstrate lucrative growth during the forecast period.

Key Companies Profiled

The lab automation market report also includes detailed profiles of key players (listed below) that manufacture lab automation instruments:

• Abbott
• Anton Paar
• BD
• Beckman Coulter
• ERWEKA
• Leuze
• Ortho Clinical Diagnostics
• Pall Corporation
• PerkinElmer
• Roche Diagnostics
• Siemens Healthineers
• SYSTAG

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About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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