Lab Automation Market

Lab Automation Market worth $5.20 Billion USD by 2022

The report "Lab Automation Market by Equipment and Software (Robotic Arms, Microplate Readers, LIMS), Applications (Drug Discovery, Clinical Diagnostics, Genomics), End Users (Biotechnology and Pharmaceuticals, Diagnostic Labs) - Global Forecast to 2022" The lab automation market is expected to reach USD 5.2 billion by 2022 from an estimated USD 4.1 billion in 2017, at a CAGR of 5.1% during the forecast period (2017–2022). The benefits of lab automation over traditional laboratory settings, miniaturization of processes, and government support for biotechnology and drug discovery research are the key factors driving the growth of the lab automation market during the forecast period.

Browse 279 market data Tables and 31 Figures spread through 235 Pages and in-depth TOC on "Lab Automation Market by Equipment and Software (Robotic Arms, Microplate Readers, LIMS), Applications (Drug Discovery, Clinical Diagnostics, Genomics), End Users (Biotechnology and Pharmaceuticals, Diagnostic Labs) - Global Forecast to 2022"
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Automated workstations held the largest share of the lab automation equipment and software market in 2017

The lab automation equipment & software market has been segmented into automated workstations, off-the-shelf automated workcells, robotic systems, automated storage & retrieval systems, software, and other equipment. The automated workstations segment held the dominant share of the market in 2017. The growing demand for these workstations can be attributed to the benefits they offer, such as enhanced accuracy and reduced time & cost. The significant demand for automation in liquid handling is another key factor driving the growth of this market segment.

By application, the genomics solutions segment is projected to grow at the highest CAGR during the forecast period

The lab automation market is segmented by application into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology solutions, and other applications. While the drug discovery segment held the largest share of the market in 2017, the genomics solutions application segment is expected to grow at the highest CAGR during the forecast period.

Automated solutions are being developed for genomic applications to improve process efficiency and the overall quality of genome analysis. Lab automation products are adopted widely in genomics for high-throughput requirements as automation provides greater reproducibility and throughput compared to manual methods.

Biotechnology & pharmaceutical companies held the largest share of the market in 2017

Biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, and research & academic institutes are the key end-users in the lab automation market. In 2017, the biotechnology & pharmaceutical companies end-user segment accounted for the largest share of the market. This segment is also expected to grow at the highest CAGR during the forecast period. Factors such as increasing product intricacy, pricing pressure, and the need for consistency in quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate their drug discovery processes. The need for high-throughput screening and the prevention of high-cost errors in drug discovery is also expected to drive market growth in this end-user segment.

North America dominated the lab automation market in 2017

North America held the largest share of the lab automation market in 2017. The implementation of the Affordable Care Act (ACA) in 2010 and increasing funds for the National Institutes of Health (NIH) and the National Science Foundation (NSF) are positively affecting the market in the region. Increasing R&D activities by biotechnology and pharmaceutical companies, the growing number of tests carried out at hospitals & diagnostic labs, and the consolidation of clinical laboratories, have increased the adoption of advanced automated laboratory techniques in North America.

The lab automation market is highly fragmented and competitive. Tecan Group (Switzerland), PerkinElmer (US), and Danaher (Beckman Coulter & Molecular Devices) (US) are the leading players in this market. Other prominent players include Thermo Fisher Scientific (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Laboratories (US), Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).

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Report Code
AST 5764
PR Published ON
11/20/2017
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