$7.7 Bn Lab Automation Market Global Forecast to 2029: Cobots, Biobanking, & High-Throughput Screening (HTS) Impacts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The global lab automation market is projected to reach USD 7.71 Billion by 2029 from USD 5.85 Billion in 2024, growing at a CAGR of 6.9% during the forecast period.

The report provides a perspective of opportunities and challenges ahead for stakeholders, besides profiling the details of leading players' competitive landscape. The micro-markets are further segregated by focusing on growth trends, prospects, and contributions of these trends to the lab automation market. To this, revenue generation through different market segments shall be forecasted and their respective growth focus put together based on five major geographies.

Some of the primary drivers for the lab automation solutions include the need for high-throughput testing, an increase in omics research, and the need for more precise and faster results in laboratory procedures. Moreover, an increase in the prevalence of chronic diseases necessitates expenditure in research and development and need for faster diagnosis, which increases the adoption of automation.

The Asia Pacific region will be the leader in growth in the lab automation market, with the highest rate during the forecast period. It will be driven by increased investment in healthcare infrastructure, research and development emphasis by the pharmaceutical and biotechnology industries, and increased demand for efficient diagnostic solutions for this region's increasing population. In addition, developments in artificial intelligence and robotics are assisting the laboratories within other sectors to become more automated.

Prominent players in the Lab Automation market include: Thermo Fisher Scientific (US), Tecan Group (Switzerland), Danaher Corporation (US), Agilent Technologies (US), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity (US), Eppendorf AG (Germany), Becton, Dickinson and Company (US), Waters Corporation (US), Siemens Healthineers (Germany), Abbott Laboratories (US), Biomerieux (France), Hamilton Company (US), Hudson Robotics (US).

Automated Workstation to register largest market share in 2023

The automated workstation segment will lead the lab automation market during the forecast period. This product line helps optimize the laboratory workflow through streamlined workstations, and increased precision, and reproducibility across many applications. In the case of the automated workstation product, liquid-handling workstation products are currently most commonly used for high-accuracy transfer of samples and reagents that are vital in a variety of applications involving PCR, qPCR, next-generation sequencing, etc. Another major sub-segment is microplate readers. It enables high-throughput screening and quantification in assays, thus significantly speeding up drug discovery and biological research.

Automated ELISA systems are in high demand because they automate the protocols that take time to run through immunoassays. Automated ELISA systems save diagnostics and clinical laboratories lots of time because it does all the immunoassay protocols, hence the output is rapid and reliable, minimizing the involvement of manual inputs. Apart from that, automated nucleic acid purification systems are considered necessary for molecular biology and genomics research to speed up DNA and RNA extraction and purification processes for further applications. Growth in these sub-segments is indicative of the interest of the lab automation market toward increasing efficiency and data quality, which are now crucial factors in all pharmaceutical, diagnostic, and research settings.

Hospitals & diagnostic laboratories segment held the largest share of Lab Automation market in 2023, by End-user.

The market by end-users of the lab automation market is further divided into hospitals and diagnostic laboratories, pharmaceutical and biotechnology companies, research and academic institutes, environmental testing laboratories, forensic laboratories, and the food and beverage industry. The largest share in 2023 would be hospitals and diagnostic laboratories mainly due to increasing demand for throughput, accuracy, and high-speed diagnostics solutions to treat more patients requiring a variety of complex tests. This will ensure automation solutions simplify workflows, minimize turnaround times, and improve accuracy.

Market Dynamics

Drivers

• Need for Automation in Drug Discovery
• Advancements in Artificial Intelligence and Robotics
• Growth in Demand for Process Automation for Food Safety
• Rise in Demand for Automation in Forensics

Restraints

• High Initial Investment Costs
• Slow Adoption in Developing Regions

Opportunities

• Increased Expenditure on Healthcare
• Growth in Pharmaceutical and Biotechnology Industries

Challenges

• System Integration Issues
• Availability of Refurbished Lab Automation Equipment

Technology Analysis

Key Technologies

• Cobots
• Biobanking
• High-Throughput Screening (Hts) Technologies

Complementary Technologies

• Cloud Connectivity
• Internet of Things (IoT)
• Digital Twins
• Adjacent Technologies
• Microfluidics Technology

Supply Chain Analysis

• Prominent Companies
• Small and Medium-Sized Enterprises
• End-users

Value Chain Analysis

• Research & Development
• Raw Material Procurement & Manufacturing
• Distribution, Marketing & Sales, and Post-Sales Services

Porter's Five Forces Analysis

Key Stakeholders and Buying Criteria

• Patent Analysis
• List of Major Patents
• Key Conferences and Events
• Trade Data Analysis
• Import Data (HS Code 8479)
• Export Data (HS Code 8479)
• Unmet Needs and Key Pain Points

Ecosystem Analysis

• Trends/Disruptions Impacting Customer Business
• Investment and Funding Scenario
• Impact of Gen AI on Lab Automation Market
• Regulatory Landscape
• Pricing Analysis

Company Profiles

Key Players

• Thermo Fisher Scientific Inc.
• Tecan Trading AG
• Danaher Corporation
• Agilent Technologies
• F. Hoffmann-La Roche Ltd.
• Mettler Toledo
• Revvity, Inc.
• Eppendorf SE
• Becton, Dickinson and Company
• Waters Corporation
• Siemens Healthineers
• Abbott Laboratories
• bioMerieux
• Hamilton Company
• Hudson Robotics

Other Companies

• Gilson, Inc.
• Bmg Labtech
• Festo AG & Co. KG
• Aurora Biomed Inc.
• Highres Biosolutions
• Opentrons Labworks Inc.
• Peak Analysis and Automation
• Qiagen N.V.
• Labvantage Solutions, Inc.
• Bio-Rad Laboratories, Inc.
• Labware
• Sysmex Corporation
• Universal Robots
• Ab Controls, Inc.
• Automata
• Spt Labtech
• Biosero, Inc.

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