Lab Automation Market Is Poised To Experience Significant Gains, Posting A CAGR Exceeding 7% Through 2031

Healthcare

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

  • Product

    • Equipment
      • 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
  • Application

    • Drug Discovery
    • Clinical Diagnostics
    • Genomics Solutions
    • Proteomics Solutions
  • End User

    • 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.

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