$4.67 Bn Lab Automation Market by Equipment and Software, Application, End User and Geography - Global Forecast to 2027

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Dec 17, 2021, 09:00 ET

DUBLIN, Dec. 17, 2021 /PRNewswire/ -- The "Global Lab Automation Market (2021-2027) by Product, Type and Geography. Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

Lab automation is expected to grow during the forecasted period considering multiple factors such as the adoption of lab automation in pharma and R&D institutes, increase in demand for miniaturizing process equipment.

The Global Laboratory Automation Market is estimated to be USD 4.67 Billion in 2021 and is expected to reach USD 6.66 Billion by 2027 growing at a CAGR of 6.1%

Various factors contribute to the growth in the laboratory automation market such as rising geriatric population, miniaturization of processes, benefits of lab automation, progressing markets of drug discovery and diagnostics, and government funding for biotech and drug discovery research, while on the contrary low priority for lab automation among small and medium-sized laboratories act as a restraining factor on the market.

Market Dynamics

Drivers

Increase in the adoption of Lab Automation
Miniaturization of processes
Progressing markets of Drug Discovery and Diagnostics
Government funding for Biotech and Drug Discovery Research

Restraints

Low Priority for Lab automation among Small and Medium-Sized Laboratories

Opportunities

Emerging markets provide a pool of opportunities for the market players
The wide scope and increasing adoption in microbiology
Biobanking applications

Segments Covered

Based on Equipment and Software, the market is segmented into automated workstations, off-the-shelf work-cells, robotic systems, automated storage and retrieval system, software, and other equipment. In 2020, the automated workstation segment is expected to account for the largest share of the lab automation market. The high demand for automation in liquid handling is the key factor in driving market growth in this segment. Automated workstations offer advantages such as cost and time reduction, and accuracy enhancement.

Based on Application, the market is segmented into Drug Discovery, Clinical Diagnostics, and Microbiology Solutions. In 2020 clinical diagnostics segment is expected to account for the largest share of the lab automation market. Factors such as the growing population and increasing reach of healthcare facilities in growing economies attribute to its growth.

Based on End-User, the lab automation market is segmented into pharmaceutical and biotechnology companies, hospitals and diagnostic labs, and research and academic institutes. In 2020, the segment of biotechnology & pharmaceutical companies is expected to account for the largest share of the lab automation market. Factors such as increasing product intricacy, pricing pressure, high cost incurred by errors, and the need for consistency in quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate the drug discovery process.

North America is expected to account for a greater share of the global lab automation market. The growth for lab automation in North America is driven by the increasing number of investments in research and innovation by the government, the large presence of pharmaceutical R&D labs present in this region, and adoption of lab automation by hospitals and clinical diagnostic labs due to the increasing volume of the tests. However, high costs of equipment and low priority of automation in small to medium-sized labs are restraining the growth of this market.

The Global Lab Automation System Market is segmented based on Equipment and Software, Application, End-User.

Lab Automation Market, By Equipment and Software

Off-the-shelf Automated Work-cells
Robotic Systems
Automated Workstations
Automated Storage & Retrieval Systems (ASRS)

Lab Automation Market, By Application

Drug discovery
Clinical diagnostics
Microbiology solutions

Lab Automation Market, by End User

Biotechnology and Pharmaceutical Companies
Hospitals and diagnostic laboratories
Research and academic institutes

Lab Automation Market, By Geography

North America
South America
Europe
Asia Pacific
Middle East and Africa

Companies Mentioned

Tecan
PerkinElmer
Danaher
Thermo Fisher
Agilent Technologies
Hamilton Robotics
Abbot Diagnostics
Eppendorf
QIAGEN
Roche Diagnostics
Siemens Healthineers
BMG Labtech GmbH
Aurora Biomed Inc.
Hudson Robotics
BIO

Report Highlights:

A complete analysis of the market including parent industry
Important market dynamics and trends
Market segmentation
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market

For more information about this report visit https://www.researchandmarkets.com/r/dyms94

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SOURCE Research and Markets