Prolific developments in life sciences, characterized by rapid AI penetration, industry-wide proliferation of cloud technology, and possible therapeutic connotations of previously contraband substances such as marijuana are amongst some key developments that have led to the emergence of a trillion dollar global pharmaceutical industry in recent years. This has eventually led to swift automation of laboratory settings, providing credible stimulus to the global lab automation market, according to a recent report published by consulting firm Fact.MR.
According to the report, the market is poised to experience significant gains, posting a CAGR exceeding 7% through 2031. Increasing number of grants disbursed to facilitate advanced drug development & clinical diagnostic research is responsible for bulk of the market’s growth. For instance, the EU Commission, in March 2021, advanced a grant to eTheRNA Immunotherapies, to accelerate the development of a novel and potentially best-in-class therapeutic mRNA cancer vaccine to treat recurrent HPV16+ head and neck cancers. The grant amounted to € 6.9 million.
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Growth prospects have further heightened since the onset of COVID-19, with healthcare providers scrambling to deploy precise and advanced diagnostic services, as well as accelerate drug and vaccine development. Consequently, overall healthcare spending rose to US$ 1.4 trillion, representing over 30% increase since 2015. Additionally, a host of government initiatives in key markets have greatly helped augment spending on lab automation, a trend likely to continue over the coming years.
Key Segments Covered
- Automated Workstations
- Automated Liquid Handling
- Automated Integrated Workstations
- Pipetting Systems
- Reagent Dispensers
- Microplate Washers
- Microplate Readers
- Multi-mode Microplate Readers
- Single-mode Microplate Readers
- Automated ELISA Systems
- Automated Nucleic Acid Purification Systems
- Software & Informatics
- Workstation/Unit Automation Software
- Laboratory Information Management Systems (LIMS)
- Electronic Laboratory Notebook
- Scientific Data Management System
- Drug Discovery
- Clinical Diagnostics
- Genomics Solutions
- Proteomics Solutions
- Biotechnology & Pharmaceutical Industries
- Research & Academic Institutes
- Hospitals & Diagnostic Laboratories
- Forensic Laboratories
- Environmental Testing Labs
- Food & Beverage Industry
Lab Automation Market- Competitive Landscape
The majority of the aforementioned players’ primary expansion strategy includes the introduction of new automation equipment and software that can be customized to meet industry-specific requirements. Furthermore, strategic partnerships, collaborations with academic and research institutes, as well as the government, and the acquisition of small-scale players are used.
- Thermo Fisher Scientific, Inc. launched the Rapid EZ DNA-Seq library preparation kit in February 2020, offering PCR-free generation of sequencing-ready libraries for NGS.
- Danaher Corporation (Beckman Coulter, Inc.) signed a marketing agreement with Clever Culture Systems (CCS), a leader in microbiology automation using AI, in July 2020, to promote the APAS Independence in their suite of lab automation solutions.
- Becton, Dickinson, and Company announced in February 2020 that the BD Kiestra ReadA has been approved by the US Food and Drug Administration (FDA). This stand-alone device increases operational efficiency in clinical microbiology laboratories by automating redundant plate management tasks while providing accuracy via standardized digital image acquisition.