Global Laboratory Automation Systems Market Predicted to Reach USD 11.0 billion by 2031, Registering at a CAGR of 5.8% – Exclusive Report by Transparency Market Research
The increase in demand for higher efficiency, accuracy, and productivity in laboratories is a major factor driving the laboratory automation systems market size.
Wilmington, Delaware, United States, Sept. 01, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global laboratory automation systems market is projected to flourish at a CAGR of 5.8% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 11.0 billion is anticipated for the market in 2031. As of 2023, the market for laboratory automation systems is expected to close at US$ 7.09 billion.
Laboratory automation systems enable the processing of a large number of samples quickly and accurately, thereby accelerating the drug discovery process, the rise in demand for high throughput and operational efficiency is augmenting the laboratory automation systems market statistics.
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The global laboratory automation system market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global laboratory automation system market report:
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Siemens Healthcare GmbH
- Bio-Rad Laboratories, Inc.
- Hitachi High-Tech Corporation
- Danaher (Beckman Coulter, Inc.)
- Shimadzu Corporation
- Hudson Robotics, Inc.
- Other Prominent Players
Key Development in the Laboratory Automation System Market
- Thermo Fisher Scientific is a major player in the life sciences and analytical instrument industry. They have been focusing on innovations in laboratory automation, particularly in the areas of high-throughput screening, sample preparation, and data management. Their automation solutions aim to streamline laboratory workflows and enhance efficiency.
- Agilent offers a range of automation solutions for laboratories, including liquid handling, sample preparation, and data management. They have been working on providing flexible and modular automation platforms that can be customized to fit specific laboratory needs.
- Bio-Rad offers automation solutions for various laboratory applications, such as genomics, proteomics, and cell biology. They have been focusing on developing user-friendly automation systems that can integrate with other instruments and software.
Increasing applications in various industries, including agriculture, food and beverage, environmental testing, and more, broadening their market reach. The growing expansion of biotechnology and life sciences research has driven the demand for more sophisticated laboratory automation solutions to handle the complexity of experiments and research in these fields.
Key Takeaways from the Market Study
- As of 2022, the laboratory automation market was valued at US$ 6.7 billion
- By type, the equipment segment to enjoy high demand, accumulating a high revenue share during the forecast period.
- Based on application, the clinical diagnostic segment is anticipated to dominate the industry during the forecast period
- Based on end-users, the pharmaceutical and biotechnology companies segment is expected to generate high revenue during the forecast period, as Pharmaceutical and biotechnology companies are constantly seeking new therapeutic compounds and molecules to address unmet medical needs.
Laboratory Automation Systems Market: Key Trends and Opportunistic Frontiers
- The growing emphasis on personalized medicine and targeted therapies has led to an increased demand for efficient and precise diagnostic tools. Laboratory automation systems are essential in handling complex and large-scale diagnostic tests.
- Market players in the global laboratory automation systems industry are focusing on the integration of advanced technologies, such as robotics, artificial intelligence, and data analytics, to further amplify the benefits of automation.
- The integration of robotics, artificial intelligence (AI), and machine learning (ML) technologies into laboratory automation systems has improved their capabilities. These technologies enable adaptive and self-learning systems that can optimize processes and adapt to changing experimental conditions.
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Laboratory Automation Systems Market – Regional Analysis
- North America, is a major contributor to the laboratory automation system market. The presence of well-established healthcare infrastructure, significant investment in research and development, and a strong presence of pharmaceutical and biotechnology companies. The demand for high-throughput screening, drug discovery, and clinical diagnostics has driven the adoption of laboratory automation systems. The presence of advanced robotics and AI technology companies also accelerates innovation in this field.
- Asia Pacific is witnessing rapid economic growth and urbanization, leading to increase in healthcare expenditure and surge in investment in healthcare infrastructure. This, in turn, is contributing to growth in demand for advanced medical technologies, including laboratory automation systems, to improve healthcare delivery, diagnostics, and research capabilities. This is projected to fuel the laboratory automation systems market expansion in the region.
Laboratory Automation Systems Market – Key Segments
- Automated Workstations
- Automated Storage & Retrieval Systems
- Automated Liquid Handlers
- Automated Plate Handlers
- Robotic Arms
- Clinical Diagnostics
- Drug Discovery & Development
- Genomics & Proteomics
- Others (Microbiology, Biobanking, etc.)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Research & Academic Institutes
- Others (Forensic Laboratories, Food & Beverage Industry)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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