A Lab Automation Market Forecasts to 2028 – Global Analysis By Product (Equipment

Lab Automation Market Forecasts to 2028 – Global Analysis By Product (Equipment, Analyzer, Software & Informatics and Other Products), Automated Systems (Total Automation Systems and Modular Lab Automation), Process (Continuous Flow, Discrete Processing and Other Processes), Application (Drug Discovery, Diagnostics and Other Applications), End user (Hospitals & Laboratories, Biotechnology And Pharmaceuticals and Other End Users), and By Geography

According tStratistics MRC, the Global Lab Automation Market is accounted for $5.1 billion in 2022 and is expected treach $8.0 billion by 2028 growing at a CAGR of 7.8% during the forecast period. Lab automation is a multidisciplinary, cutting-edge strategy utilised in laboratories tboost output, shorten turnaround times, and improve process efficiency. Due ttechnical developments in laboratory equipment and a rise in the usage of automated laboratory equipment in pharmaceutical and R&D organisations, the lab automation market is predicted tincrease over the forecast period. Increased demand for miniature process equipment alscontributes tthe market's expansion. However, a higher initial investment limits market expansion.

According tthe World Health Organization’s report, the manifestation of coronavirus has resulted in more than 651,918,402 confirmed cases which means huge number of people was infected by COVID-19 globally as of December 2022.
Market Dynamics:

Driver:

Increasing investment & strategic initiatives by market players

Due tthe increased need for specialised advanced automated services that remove human error, the market for laboratory automation is expanding. The goal of the companies and market participants is toffer a variety of tools, machineries, machines, and processes taid in the design and production of automated laboratory infrastructure. Due tthe increased need for specialised advanced automated services that remove human error, the market for laboratory automation is expanding. The market participants are coming up with more investments and funds tdevelop cutting-edge technology and methodologies in order twin the majority of the global market share. These participants place a greater emphasis on minimising manual labour and hands-on time for the customarily labor-intensive activity. This is anticipated tfuel the market's expansion.

Restraint:

Limitation analyzing novel complex product

The complexity of innovative products employed in automated laboratories is influenced by a variety of factors. Early in the development phase, there is a great requirement for ongoing communication between employees and device manufacturers, and it becomes essential tcomprehend this communication in order tuse the part or entire setup. The installation and operation of automated labs in the market are being hampered by limitations in the detection and analysis of novel complicated products like machinery, tools, and equipment.

Opportunity:

Government initiatives tstrengthen laboratory infrastructures

Government organisations play a key role in progressively strengthening the healthcare sector and laboratory infrastructure. The financing and initiative taken by the government tincrease laboratory automation would aid market expansion and add tthe number of market competitors. The agreements and collaborations between the government and the major businesses in the market will improve the laboratory infrastructure even further.

Threat:

Upgradation, maintenance and periodical checkups

The first priority following setup is toperate labs efficiently. In order toperate, equipment needs tbe maintained, upgraded, and given routine inspections. One of the key problems preventing the market competitors from competing is the expense necessary for this. Independent of the production firms, laboratory holders are required by regulation or quality control ttest their products in order toperate efficiently and prevent situations. This can limit market expansion.

Covid-19 Impact

The worldwide COVID-19 pandemic has affected a variety of enterprises. Because tstaff shortages, the need tmaintain safe and socially segregated working conditions, and the need tfast expand testing menus, the COVID-19 pandemic has put diagnostic laboratories under a great deal of stress. Diagnostic labs that have embraced process automation have been among the best at minimising disruption and even thriving in these challenging environments. Innovative laboratories have been able tquickly resume near-full output while maintaining local social distance norms thanks tthe flexibility that automated technologies offer. These laboratories will be in a fantastic position ttake use of their automated processes tincrease their capabilities once the restrictions are eased and the staff is allowed twork again.

The discrete processing segment is expected tbe the largest during the forecast period

The discrete processing segment is estimated thave a lucrative growth, due ta number of advantages discrete processing has over continuous flow, which are expected tencourage its adoption during the predicted period. Every sample is given its own discrete space in discrete processing, which improves the analysis samples used in this method. Hence, unlike continuous flow processing, there is nwaste of extra reagents utilised for flow. Due tits many advantages over continuous processing, this market is expected tincrease significantly during the forecast period.

The biotechnology & pharmaceutical segment is expected thave the highest CAGR during the forecast period

The biotechnology & pharmaceutical segment is anticipated twitness the fastest CAGR growth during the forecast period, due tthe widespread presence of pharmaceutical firms and the growing use of robotics and laboratory automation, the biotechnology and pharmaceutical industries segment accounts for the majority of revenue. Also, laboratory automation is being used more for R&D in pharmaceutical businesses as opposed tsupporting product manufacturing and quality control in laboratory applications. This development contributes tthe market's continued expansion.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe rise in pharmaceutical firms, increased demand for laboratory automation systems, and increased awareness of advanced laboratory automation systems all contribute tthe market's expansion. The Asia-Pacific market is growing, but rising laboratory automation system costs are impeding its development. The development of the R&D industry, the rise in healthcare reforms, the expansion of hospitals with cutting-edge medical equipment, and other factors alscontribute tthe market's expansion. Growth potential in this region are further boosted by the increased attention of major manufacturers on increasing their geographic presence in developing nations in the Asia-Pacific.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period, owing tthe increased adoption of lab automation technologies, which has resulted from the presence of a strong healthcare infrastructure in the area. The market penetration of novel solutions is alsbeing aided by the local presence of large businesses and the favourable reimbursement system in this area.

Key players in the market

Some of the key players profiled in the Lab Automation Market include Danaher Corporation, PerkinElmer Inc., ABBOTT, ThermFisher Scientific, Inc., Agilent Technologies, Inc., BD, AZENTA US INC, F. Hoffmann-La Roche, Eppendorf AG, Aurora Biomed Inc., Hamilton Company, BIOMERIEUX, LABLYNX LIMS, LABWARE, Siemens Healthineers, Tecan Group Ltd., Qiagen N.V., Hudson Robotics, LABVANTAGE SOLUTIONS INC. and BiTek Instruments, Inc.

Key Developments:

In June 2022, BD announced that they had completed the acquisition of Straub Medical AG, a privately held company. With this acquisition, the company has added the valuable expertise and experience of Straub Medical AG and expanded its product portfolio.

In January 2022, QIAGEN announced that it has entered intnew collaborations with Atlia Biosystems tprovide non-invasive prenatal testing solutions.

Products Covered:
• Equipment
• Analyzer
• Software & Informatics
• Other Products

Automated Systems Covered:
• Total Automation Systems
• Modular Lab Automation

Process Covered:
• Continuous Flow
• Discrete Processing
• Other Processes

Applications Covered:
• Drug Discovery
• Diagnostics
• Genomics
• Microbiology
• Proteomic Solutions
• Protein Engineering
• Analytical Chemistry
• BiAnalysis
• Lyophilization
• System Biology
• Other Applications

End Users Covered:
• Hospitals & Laboratories
• Biotechnology And Pharmaceuticals
• Research And Academic Institutes
• Photometry & Fluorometry
• Environmental Testing Laboratories
• Food & Beverage Industry
• Forensic Laboratories
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements