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[Research Report] The lab automation market size is expected to grow from US$ 5,166.31 million in 2022 to US$ 8,483.27 million by 2030; it is anticipated to record a CAGR of 6.4% from 2022 to 2030.
Lab Automation Market Insights and Analyst View:
The integration of automation into laboratories to enable new and enhanced laboratory processes is known as laboratory automation. Laboratory robotics is the most well-known use of laboratory automation technology. In addition, laboratory automation encompasses a wide range of automated laboratory instruments, devices, software algorithms, and methodologies used to enable, accelerate, and improve the effectiveness of research in laboratories. Based on the lab automation market analysis, key factors driving the lab automation market are the rising applications and advantages offered by lab automation and the growing pharmaceutical industry. However, the limited adoption of lab automation due to high capital investment hinders the lab automation market growth.
Growth Drivers and Restraints:
Biotechnology, pharmaceuticals, clinical diagnostics, academic research, and environmental testing are among the major industries that have seen an increase in laboratory automation. The requirement for enhanced efficiency, precision, and throughput in laboratory procedures drives the demand for lab automation. The use of automation technology provides various benefits that can have a substantial impact on the productivity and quality of scientific research and development. Various key advantages and applications include high-throughput screening, sample preparation and handling, data management and integration, workflow optimization, flexibility and customization, quality control and assurance, resource optimization, long-term cost savings, reducing manual handling of hazardous chemicals or biological materials, and expansion of laboratories capacity and capabilities. Thus, laboratory automation has grown more and more advantageous, and this highlights how it might transform scientific research and development in various industries. It is anticipated that as technology develops, lab automation will increase, driving more efficiency and innovation in scientific initiatives.
However, various companies, notably in the biotechnology and pharmaceutical industries, experience significant problems adopting laboratory automation due to high capital expenditure. While laboratory automation provides various benefits, such as higher efficiency, accuracy, and throughput, the initial cost of deploying automation systems can be unaffordable for certain businesses. Various factors contribute to the high capital investment required for laboratory automation, such as equipment costs, infrastructure requirements, integration and customization, maintenance and support, high expertise requirements, and risk of technology obsolescence. For instance, according to Retisoft Inc., the price range for a small automated robot system is between US$ 100,000 and US$ 300,000. However, more complicated and large lab automation systems can often cost over US$ 1 million. Thus, the high capital investment required for laboratory automation can hinder the adoption of lab automation by many biotechnology and pharmaceutical companies, especially smaller or emerging organizations with limited financial resources. Thus, the abovementioned factors are likely to hamper the growth of the global lab automation market.
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Lab Automation Market: Strategic Insights
Market Size Value in US$ 5,166.31 million in 2022 Market Size Value by US$ 8,483.27 million by 2030 Growth rate CAGR of 6.4% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Lab Automation Market: Strategic Insights
| Market Size Value in | US$ 5,166.31 million in 2022 |
| Market Size Value by | US$ 8,483.27 million by 2030 |
| Growth rate | CAGR of 6.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The global lab automation market report is segmented based on product, application, and end user. Based on product, the lab automation market is bifurcated into equipment and software. Based on equipment, the market is subsegmented into automated workstations, microplate readers, robotic systems, off-the-shelf automated work cells, automated storage and retrieval systems (ASRS), and others. Based on software, the market is subsegmented into laboratory execution systems (LES), laboratory information management systems (LIMS), electronic laboratory notebooks (ELN), and scientific data management systems (SDMS). Based on application, the lab automation market is differentiated into clinical diagnostics, drug discovery, proteomics solutions, genomics solutions, and others. Based on end user, the lab automation market is categorized into pharmaceutical companies, hospitals and diagnostic centers, educational and research institutions, and contract research organizations. The lab automation market report, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Segmental Analysis:
Based on product, the lab automation market is bifurcated into equipment and software. The equipment segment held a larger share in lab automation market in 2022. However, based on the lab automation market forecast, the software segment is anticipated to register a higher CAGR during 2022–2030.
Based on equipment, the lab automation market is subsegmented into automated workstations, liquid handling systems, robotic systems, microplate readers, automated storage and retrieval systems (ASRS), and others
Based on application, the lab automation market is categorized into clinical diagnostics, drug discovery, proteomics solutions, genomics solutions, and others. The drug discovery segment held the largest share in lab automation market size in 2022. However, based on the lab automation market forecast, the clinical diagnostics segment is anticipated to register the highest CAGR from 2022 to 2030.
Based on end user, the lab automation market is segmented into pharmaceutical companies, hospitals and diagnostic centers, educational and research institutions, and contract research organizations. In 2022, the pharmaceutical companies segment held the largest share in lab automation market size. However, based on the lab automation market forecast, the hospitals and diagnostic centers segment is anticipated to register the highest CAGR during 2022–2030.
Regional Analysis:
Based on geography, the global lab automation market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa.
In 2022, North America held the largest share of the global lab automation market size. The developments in medical infrastructure and the increasing expenditure on healthcare services across the United States are driving the lab automation market in the country. The use of laboratory automation in clinical trials, drug development, and biomedical research has had a substantial impact on lab automation market growth. These systems can also run for long periods of time with little supervision and direction, allowing researchers to focus on their primary work and spend less time on repetitive activities. Additionally, the Centers for Medicare & Medicaid Services (CMS) in the United States has adopted standards associated with human laboratory research under the Clinical Laboratory Improvement Amendments (CLIA), which has enhanced the lab automation market growth.
Lab Automation Market Report Scope
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the global lab automation market are listed below:
- In May 2023, Opentrons announced the launch of the Opentrons Flex robot, an innovative class of reasonably priced, easily programmable liquid-handling lab robots that will level the playing field for labs of all sizes and make advanced lab automation accessible to more researchers than ever. The Flex robot combines cutting-edge robotics with a vast open-source software ecosystem. It can be used with AI tools and has a nearly limitless capability for selecting new protocols.
- In March 2023, Brooks Automation US, LLC announced the acquisition of Aim Lab Automation Technologies Pty Ltd. Brooks's acquisition of Aim Lab aligns with the company's expansion plan to offer more solutions in the lab automation market. With its PreciseFlex product solutions, Brooks leads the life sciences collaborative automation market. Brooks' position in clinical diagnostics has increased beyond drug discovery with this acquisition. With PreciseFlex, Aim Lab will provide its clients with more capabilities, a global footprint, and opportunities to work together more closely.
- In February 2023, Automata launched LINQ, a new open, integrated laboratory automation platform. The LINQ platform includes an exclusive lab bench with built-in automation tools and strong, in-house lab orchestration software. As a result, labs may boost efficiency and accuracy while reducing the number of human touchpoints without adding more space for large, complicated equipment.
- In January 2023, BD (Becton, Dickinson and Company) launched a robotic track system for the BD Kiestra microbiology laboratory solution. This system automates lab specimen processing, potentially minimizing human labor and resulting in fewer wait times. With the new BD Kiestra 3rd Generation Total Lab Automation System, laboratories can link various BD Kiestra modules to build a unique and adaptable total lab automation configuration. It is also scalable to accommodate the changing needs of labs. By selecting from various track configurations and machines, labs can customize the automation system to match their unique workflow and physical lab space.
- In June 2022, Insilico Medicine launched an AI-run robotics lab. It is a real-world, interconnected expansion of Insilico's end-to-end AI-driven drug discovery platform. It will be remotely controlled by its AI system, with autonomous guided vehicles running experiments instead of human scientists. These robots will make cell culture, high throughput screening, next-generation sequencing, cell imaging, and genomics analysis and prediction.
- In May 2021, Beckman Coulter announced the global launch of the DxA 5000 Fit. The DxA 5000 Fit is a workflow automation system made to fit into medium-sized labs that perform fewer than 5,000 tests per day.
Competitive Landscape and Key Companies:
Siemens Healthineers, Thermo Fisher Scientific Inc, Analytik Jena GmbH+Co. KG, Labman Automation Ltd, BD, Brooks Automation Inc, bioMerieux SA, CrelioHealth Inc., Danaher Corporation, and F. Hoffmann-La Roche Ltd are among the prominent players operating in the lab automation market. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies - Lab Automation Market
- Siemens Healthineers
- Thermo Fisher Scientific Inc
- Analytik Jena GmbH+Co. KG
- Labman Automation Ltd
- BD
- Brooks Automation Inc
- bioMerieux SA
- CrelioHealth Inc.
- Danaher Corporation
- F. Hoffmann-La Roche Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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