Lab Automation For In-vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Lab Automation For In-vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Lab Automation Market for the In-vitro Diagnostics Market is expected to register a CAGR of 6.3% during the forecast period. The rise in testing as a result of the pandemic can be attributed to the growth in in-vitro diagnostic adoption. The growth of the market is anticipated to be fueled by the creation of automated in-vitro diagnostic systems for labs to provide quick, precise, and error-free diagnoses.

Key Highlights

• The market is expanding as a result of the increasing number of IVD (in vitro diagnostics) products being introduced by major players. Results from IVD products with molecular diagnostic capabilities are precise and effective.
• The IVD product portfolio includes devices that assist in clinical chemistry and immunoassays, urinalysis, point-of-care testing, and patient self-testing devices. IVDs may be used in a variety of environments, including laboratories, clinics, diagnostic centers, educational institutes, or homes. They are employed for preventive diagnosis, early-stage screening, therapy selection, and monitoring.
• Moreover, the rapid spread of existing diseases and new discoveries of diseases are increasing the demand for early remedies and diagnoses. This is expected to ascend the rate of clinical diagnostic application, thereby fueling the incorporation of lab automation solutions.
• According to a leading industry player, Roche Holding AG, IVDs are extremely valuable resources for disease prevention, detection, and management. They influence roughly two-thirds of clinical decision-making while accounting for just 2% of healthcare spending. Furthermore, innovative development in the IVD field is currently driven by four significant trends, such as point-of-care testing, automation, digitalization, and the concept of personalized medicine.
• The global clinical diagnostics industry has witnessed laboratory consolidation and the shift toward a data-driven environment, with significant investments in advanced technologies and transformation in business models driven by products and value-added services.
• Evidently, the IVD market is also expected to witness the advantages of technologies, such as cognitive machine-learning capabilities and Big Data, to complement diagnostic test information and technologies in order to enable seamless connectivity between multiple instrument systems.
• The continued impact of the COVID-19 pandemic on the market, as well as increased consumer demand, can be attributed to molecular diagnostics. Flu and COVID-19, for example, have similar symptoms, making differentiation difficult. This unmet need was met by the introduction of novel products capable of detecting both Flu and SARS-CoV-2. To meet the demand, companies such as Roche have made SARS-CoV-2 & Flu A/B Rapid Antigen Test available on the market.
• However, the market faces a challenge because any type of error could result in improper management of a patient's disease or condition. The governments have taken on a role in the regulation of IVDs through a number of organizations, including the Food and Drug Administration (FDA), ISO, and the Centers for Medicare & Medicaid Services. This is because of the potential risk as well as the effect on the overall delivery of healthcare.

Key Market TrendsDigital Transformation of Labs Aids the Market Growth

• Technological innovations have improved the productivity of clinical labs. The need for automation is increasing with the increasing reliance on technology-based systems and the drastic growth of internet-driven processes. Digital transformation, i.e., connecting devices to the internet, ensures remote monitoring, alerts, remote control, and notifications for everything, ranging from temperature to threats.
• The clinical diagnostics and in vitro diagnostic (IVD) markets are benefiting from the current advancements in automation and robotics, such as enhanced liquid handling robot solutions instead of individual pipetting chores or other sorts of manual handling. Product manufacturers are aiming to be more adaptable and develop new solutions for different market needs using tools like intuitive interfaces, 3D simulations, and reconfigurable systems.
• IoT provides IVD with the capability to interact directly with the support layer, which allows event capture in an electronic way. Diagnostic devices play an essential role in improvising the healthcare industry. It is estimated that 60% of the medical decisions in the world are made with the support of IVD solutions.
• Owing to the ongoing advances in connected technologies and cloud-based laboratory information management systems (LIMS) platforms, these tools are helping businesses to access the benefits of the digital transformation and provide laboratories a secure way to organize data, making accessing insights quick and easy, while allowing businesses to control which data is sent to third-party instrument vendors.
• Systems with IoT implementation offer server control and monitoring of various sensors and can be easily configured to handle more hardware interface modules. Sensors loaded onto the devices could help in data collection and communication with cloud servers and other devices. Additionally, laboratories can maintain data through high levels of security while providing accurate and unhampered data through IoT.

North America to Hold the Largest Market Share

• North America has been a pioneer in clinical research for years. This region is home to some of the major pharmaceutical companies, like Pfizer, Novartis, GlaxoSmithKline, J&J, and Novartis. The region also has the highest concentration of contract research organizations (CROs). Some of the significant CROs are Laboratory Corp. of America Holdings, IQVIA, Syneos Health, and Parexel International Corp.
• The region is anticipated to account for the largest share of the market, owing to the availability of government funds, stringent FDA regulations, the growing use of molecular diagnostics in genetic disorders and cancer screening, and the presence of most of the major players in this region.
• Additionally, the increasing number of surgeries and the prevalence of various chronic diseases are also significantly driving the demand for automation in the clinical diagnostics industry. According to the American Orthopedic Surgeons (AAOS), approximately 3.0 million total knee arthroplasty surgeries are likely to be performed in the United States by 2030. The diagnosis of these and other chronic conditions requires sample collection, thereby boosting the demand for the market studied.
• Besides, accessibility to superior technologies, demand for laboratory automation, expansion of molecular diagnostics for genetic disorders and cancer screening, and the presence of major leading companies in the United States may also stimulate the market demand in North America.
• Further, with the outbreak of COVID-19, the region has been witnessing an increase in tests being performed to detect the virus. The American government launched the Cancer Moonshot in February 2022 in an effort to increase cancer screening rates in order to find cases that had gone undiagnosed because of the COVID-19 pandemic. The government wants to reduce the death rate from cancer by 50% over the next 25 years through early detection and treatment, which will increase demand for cancer IVD tests.

Competitive Landscape

The lab automation for in-vitro diagnostics market is a consolidated market. The entry cost for setting up lab infrastructure remains high, and hence, there are only a few major players that 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, among others. Market domination through innovative product launches and strategic agreements continues across this industry.

• 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.
• May 2021 - Hamilton and InSphero AG, the pioneer of 3D cell-based assay technology, announced a collaboration to revolutionize creating and processing 3D microtissues (spheroids). InSphero creates microtissues with sophisticated 3D cell culture technology, resulting in highly predictive, organotypic in vitro diagnostic models that are ready for use in crucial drug development, efficacy, and safety applications.

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