Laboratory automation is the use of technology to streamline existing processes and create new, more effective ones. Laboratory automation can help lay the foundation for better accuracy, quality, and consistency in clinical, nonclinical, and industrial settings. By enhancing the quality of experimental data and shortening overall lab process times, laboratory automation boosts productivity. A laboratory automation system often consists of computer hardware and software, robotics, conveyor systems, machine vision, and robotics. Lab automation is developing into a more practical option and a critical component of laboratories' solutions in order to remain competitive in the present market. Thanks to new automation technology, researchers are no longer need to perform repetitive tasks. Lab automation helps by enabling laboratory staff to manage the influx of samples.
Lab Automation Market size was valued at US$ 5.59 Bn. in 2022 and the total revenue is expected to grow at 8.1% through 2023 to 2029, reaching nearly US$ 9.65 Bn.
What are Lab Automation Market Scope?
An inside look into the market's sharks, including their financial standing, revenue, technological improvements, mergers and acquisitions, most recent innovations, marketing strategies, alliances, and joint ventures, is provided by a competitive study of the Lab Automation market. The Lab Automation Market research uses historical data, consumer behaviour, and market volatility to create microanalyses with precise drawings, graphs, and easy-to-understand language to aid users in understanding the major themes and general characteristics of the industry.
The SWOT analysis and Porter's Five Forces analysis, which are common & well-known full-proof methodologies to provide analysis of the Market, are used to analyse the restraints, opportunities, challenges, and risks in the Lab Automation Market research.
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Lab Automation Market Overview
In-depth information about market size, market dynamics, strategies, revenue, pricing analysis, micro and macro market trends and scenarios, and industry benchmarks are provided in the industry overview. Market size, regional consumer preferences, and industrial competition are all explored in detail.
What is Lab Automation Market Segmentation?
by Product
Equipment’s
Automated Workstations
Robotic Systems
Microplate readers
Others
Software & Informatics
Workstations automation software
Laboratory Information Management System (LIMS)
Scientific Data management system
Electronic Laboratory notebook
by Type
Total Automation Systems
Modular Automation Systems
The total automation systems and modular automation systems product categories make up the worldwide lab automation market, respectively. In 2022, the sector for Total Automation Systems had the highest market share at 48.3%. because these systems offer a wide range of benefits. Advances in this persuasion in several life science operations are one of the key reasons anticipated to fuel the segment's expansion during the projected period. The two types of automation systems employed in the market are total automation systems and modular automation systems. Total automation systems are further divided into phases for subsequent processing. Current trends in the adoption of lab automation systems, such as benchtop automation systems, by drug discovery laboratories are generally motivated by the need to facilitate repetitive tasks .
by Application
Clinical Chemistry Analysis
Photometry & Fluorometry
Immunoassay Analysis
Electrolyte Analysis
Other
The global lab automation market is divided into four applications: immunoassay analysis, photometry & fluorometry, clinical chemistry analysis, and electrolyte analysis. In 2021, the Clinical Chemistry Analysis market category accounted for the biggest market share with 27.4.6%. This high proportion can be attributed to advancements in technology, a rise in the number of automated systems offered by market participants, and an increase in the use of automated systems as a result of their advantages, which include a lower risk of contamination and the elimination of human error, among others.
by End-User
Biotechnology & Pharmaceutical
Research Institutes
Hospitals & Private Labs
Forensic Laboratories
Others
The retail, healthcare, and pharmaceutical, manufacturing, transportation and logistics, energy and utilities, government, and others are the verticals into which the worldwide lab automation market is divided. In 2021, the Manufacturing sector had the most market share at 36.6%. The outsourcing of inventories and manufacturing raw materials has increased as a result of the rising number of manufacturing facilities in developing nations like Mexico and India. For instance, the 'Make in India' programme of the Indian government emphasises the expansion of the domestic manufacturing sector and could increase local production. Such initiatives are beneficial for the industrial sector's expansion during the anticipated period.
Lab Automation Market Report Research Methodology
The size of the Lab Automation Market for each segment was estimated using a variety of secondary sources, such as trade publications, white papers, and journals. The main methodologies were surveys, distributing questionnaires, and conducting telephone interviews with experts in the Lab Automation industry, Market leaders, business owners, and marketers. The PESTLE analysis was performed to determine how the micro- and macro-economic factors affecting the market for Lab Automation would affect it.
The industry's competition is thoroughly examined, including market leaders, followers, and new entrants. In-depth primary research was undertaken to gather data, verify, and confirm the important figures arrived at following thorough engineering and calculations for the Lab Automation Market statistics, including market size estimates, market projections, market breakdowns, and data triangulation. The company's annual reports, articles, paid and free databases, etc. were used to gather the secondary data. The bottom-up method was employed to calculate the size of the regional and Lab Automation markets.
What are Lab Automation Market Regional Insights?
The study aids in developing and putting into action fresh strategies that are appropriate for and properly applicable to particular markets in the world.
The report's in-depth regional analysis helps stakeholders, new entrants, investors, entrepreneurs, researchers, market followers, and players by providing an accessible illustration of the market's many components and a future perspective with anticipated risks and trends. The Lab Automation Market underwent a competitive regional study, which included both existing market competitors and recent market entrants. Gaining a thorough understanding of the market structure and growth strategies of various players requires thorough investigation.
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Who are Lab Automation Market Key Players?
1. Tecan Group Ltd
2. Thermo Fisher Scientific Inc
3. Danaher Corporation
4. Hamilton
5. F. Hoffmann-La Roche Ltd.
6. Qiagen N.V.
7. Abbott Laboratories
8. Siemens AG
9. PerkinElmer Inc.
10. Agilent Technologies, Inc.
11. bioMerieux
12. Eppendorf
13. Bruker
14. Avantor
15. Smiths Group
16. Corning
17. Agilent
18. Roche
19. Bio-Rad
20. Gilson
21. Eppendorf
22. Beckman Coulter Life Sciences
23. PerkinElmer
24. Analytik Jena
Table of content for the Lab Automation Market includes:
1. Lab Automation Market: Research Methodology
2. Lab Automation Market: Executive Summary
2.1 Market Overview and Definitions
2.1.1. Introduction to Lab Automation Market
2.2. Summary
2.1.1. Key Findings
2.1.2. Recommendations for Investors
2.1.3. Recommendations for Market Leaders
2.1.4. Recommendations for New Market Entry
3. Lab Automation Market: Competitive Analysis
3.1 MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2 Consolidation in the Market
3.2.1 M&A by region
3.3 Key Developments by Companies
3.4 Market Drivers
3.5 Market Restraints
3.6 Market Opportunities
3.7 Market Challenges
3.8 Market Dynamics
3.9 PORTERS Five Forces Analysis
3.10 PESTLE
3.11 Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
3.12 COVID-19 Impact
4. Lab Automation Market Segmentation
4.1 Lab Automation Market, by Product (2022-2029)
• Equipment’s
o Automated Workstations
o Robotic Systems
o Microplate readers
o Others
• Software & Informatics
o Workstations automation software
o Laboratory Information Management System (LIMS)
o Scientific Data management system
o Electronic Laboratory notebook
4.2 Lab Automation Market, by Type (2022-2029)
• Total Automation Systems
• Modular Automation Systems
4.3 Lab Automation Market, by Application (2022-2029)
• Clinical Chemistry Analysis
• Photometry & Fluorometry
• Immunoassay Analysis
• Electrolyte Analysis
• Other end-uses
4.4 Lab Automation Market, by End-User (2022-2029)
• Biotechnology & Pharmaceutical
• Research Institutes
• Hospitals & Private Labs
• Forensic Laboratories
• Others
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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