Laboratory Robotics Market is projected to reach US$ 494 Mn by 2030 | CAGR: 6.9% | Astute Analytica
NEW DELHI, Jan. 25, 2022 /PRNewswire/ -- The study undertaken by Astute Analytica foresees a phenomenal growth in revenue of the Global Laboratory Robotics Market from US$ 270.7 Mn in 2021 to US$ 494 Mn by 2030, registering a CAGR of 6.9% during the forecast period. The growth in the revenue for the Global Laboratory Robotics Market is attributed to surging investments of R&D in the pharmaceutical industry and the growing demand for process automation for various industrial verticals. Lab automation makes it easier to use laboratory equipment for repetitive operations like labelling tubes and sample verifications, as well as lowering and limiting the physical strain caused by manual tasks, which saves money and space in the lab. However, a high initial cost, restricted adaptability, and a lack of institution for tackling tough or esoteric problems are challenging the growth of the laboratory robotics industry.
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Biological laboratory robotics segment has the highest market share in 2021
The biological laboratory robotics segment is estimated to have the highest market share of 34.5% in 2021. The market growth can be primarily attributed to wide adoption of robotics in various application. The pharmaceutical companies employ robots to move biological or chemical samples around to synthesize novel chemical entities or to test pharmaceutical value of existing chemical matter.
Drug discovery segment has the highest market size of US$ 103.1 Mn in 2021
The drug discovery segment contributed the major share of 38.2% in the global laboratory robotics market in 2021. The growth in investments and spending on pharmaceutical research and development (R&D) coupled with the increasing pressure on healthcare providers to reduce healthcare cost is expected to propel the segmental growth. However, the proteomics solutions segment is projected to grow at the fastest-CAGR of 7.9% during the forecast period.
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Environmental Testing Laboratories segment has the fastest CAGR during the forecast period
Biotechnology and pharmaceutical companies are under mounting pressure to develop and introduce new products through the pipeline faster, therefore, the market share of biotechnology and pharmaceutical companies' segment is the highest in 2021. However, the Environmental Testing Laboratories segment is expected to project the CAGR of 8.4% in the global Laboratory.
North America dominates the Global Laboratory Robotics Market in 2021
North America holds major share of 38.7% in term of revenue in the global laboratory robotics market in 2021. North America is the dominating region in the laboratory robotics market owing to an increase in technological advancements and investments by the market leaders. With the increase in the number of players in this region, the market in this region is witnessing enterprise collaborations and partnerships to achieve a technological breakthrough in the field of robotics, which is also boosting the focus toward technology. Additionally, with the increased R&D activities by the biotechnology and pharmaceutical firms in this region, as well as the increased adoption of lab automation by most of the hospitals and clinical diagnostic labs are driving the growth in the lab robotics market in the region. Mexico is growing at the fastest CAGR of 7.1% during the forecast period.
Impact of COVID-19
Laboratories employ robots and automation extensively to increase quality and production at a reasonable cost. The healthcare sector, including pharmaceutical and biotechnological companies are demanding laboratory robotics to accelerate the diagnosis and research activities for drug discovery and vaccination during the COVID-19 pandemic. Furthermore, since the virus's spread, the governments are forcing pharmaceuticals and biotechnological companies to opt robotics instead of human beings to avoid the spread of COVID-19 infection among the professionals. Therefore, this ongoing pandemic has further increased the demand and supply of laboratory robotics throughout the world.
A glance at the competitors
- Aurora Biomed Inc. is a Canada-based company that offers advance technology and solutions for various industries such as healthcare, pharmaceutical, veterinary, agriculture, food safety, environment, and others.
- Tecan Group is a Swiss company, headquartered in Männedorf, that offers high-tech solutions for various industries. The company offers a wide range of products and solutions such as laboratory instruments and solutions, liquid handling solutions, mass spectrometry, biomarkers, and others.
- Thermo Fisher Scientific has a large product portfolio in laboratory reagents and consumables, analytical equipment and instruments, science software and services for research, discovery, analysis, and manufacturing (including pharmaceutical and diagnostic products).
- Siemens is a technology company based in Germany and established in 1847. It is a global powerhouse focusing on the areas of electrification, automation, and digitalization. The company's primary divisions include Industry, Healthcare (Siemens Healthineers), Energy, and Infrastructure & Cities.
- Yaskawa Electric Corporation is a Japan-based company that offers high-tech products and services for different industries to cater to the needs of the customers. The company provides various products and solutions such as robotics, AC drivers, controllers, system engineering, motion control and others. It offers services to various clients in various industries such as food, healthcare, pharmaceuticals, industry 4.0, automotive, and others.
- PerkinElmer Inc. company established in the year 1937 and headquartered in Waltham, United States. It has a wide range of products and solutions such as automated and liquid handling, consumables, informatics solutions, reagents, software, instruments, and others.
Segmentation Overview of the Global Laboratories Market
The Global Laboratories Robotics Market is segmented based on type, product, and region. These segments are further sub-divided to get a holist picture of the market.
Following are the different segments of the Global Laboratories Market: -
- By Type Segment of the Global Laboratories Market is Sub-Segmented into:
- Low-Cost Laboratory Robotics
- Biological Laboratory Robotics
- Pharmaceutical Laboratory Robotics
- Molecular Laboratory
- Others
- By Application Segment of the Global Laboratories Market is Sub-Segmented into:
- Drug Discovery
- Clinical Diagnosis
- Microbiology Solutions
- Genomics Solutions
- Proteomics Solutions
- By End User Segment of the Global Laboratories Market is Sub-Segmented into:
- Clinical Laboratories
- Research Laboratories
- Biotechnology and Pharmaceutical companies
- Hospitals and Diagnostic Laboratories
- Research and Academic Institutes
- Forensic Laboratories
- Environmental Testing Laboratories
- Food and Beverage Industry
- By Region Segment of the Global Laboratories Market is Sub-Segmented into:
- North America
- The US
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of APAC
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
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