The Lab Automation For In-Vitro Diagnostics Market size is estimated at USD 5.75 billion in 2024, and is expected to reach USD 7.80 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).
The increase in testing due to the pandemic and the development of automated in-vitro diagnostic systems for labs to provide quick, precise, and error-free diagnoses can be attributed to market growth.
Lab automation for the in-vitro diagnostics market is a consolidated market. The entry cost for setting up lab infrastructure remains high, and hence, only a few major players dominate the market. Moreover, this market has undergone a round of consolidation already. The major players in this market are Cognex Corporation, Roche Holding AG, Thermo Fisher Scientific Inc., and Abbott Laboratories. Market domination through innovative product launches and strategic agreements continues across this industry.
In January 2022, Fujirebio, a global leader in IVD testing, announced the commercial launch of the RoboBlot instrument, a closed system for the automated processing of the widely used INNO-LIA Score assays. The system's preprogrammed test protocols automate sample addition to strip processing, image capture, and result interpretation, as well as laboratory information system (LIS) communication where applicable.
In February 2022, Automata, which began by developing a robotic arm for individual tasks, raised USD 50 million to automate entire lab processes from beginning to end. Octopus Ventures led the round, which included Hummingbird, Latitude Ventures, ABB Technology Ventures, Isomer Capital, In-Q-Tel, and others. The company believes transitioning from partial to full automation will result in significant time savings and increased throughput.
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