A recent study by Triton Market Research titled ‘Global Laboratory Automation Market’ consist of the Global Analysis and Forecasts by Product Type (Equipment [Automated Storage and Retrieval Systems (ASRS), Robotic Arms, Automated Plate Handlers, Analyzers, Automated Liquid Handlers], Software [Laboratory Information Management Systems, Laboratory Information System, Electronic Lab Notebook, Chromatography Data System, Scientific Data Management System]), Application (Drug Discovery, Proteomics Solutions, Genomics Solutions, Clinical Diagnostics), End-user (Biotechnology & Pharmaceutical Industries, Research Institutes, Other End-users), and by Geography (North America, Middle East and Africa, Latin America, Europe, Asia-Pacific).
Laboratory automation technology aids companies in improving the accuracy of the final result, further enhancing the effectiveness of their laboratory activities. Additionally, lab automation helps in defeating the issue of a shortage of skilled professionals to meet the surging demand in the industry.
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Triton’s research report suggests that the global laboratory automation market is estimated to grow at a CAGR of 5.14% in revenue through the years 2021-2028. It is also likely to acquire revenue worth $6555 million by 2028.
Factors such as the advancement of laboratory systems, coupled with a rise in R&D activities, are propelling the growth of the laboratory automation market worldwide. Automated laboratory equipment is majorly employed in the biotechnology and pharmaceutical sectors, research institutes, and academic institutes to improve workflow. It is an advanced method used over manual handling of samples in laboratories to surge productivity, enhance quality, and improve efficiency in the processes. However, the costly setup process, physical constraints, and technology integration challenges are key factors obstructing the expansion of the laboratory automation market.
The market for laboratory automation is broadly divided into product type, application, and end-user. Based on product type, the market is segmented into equipment and software. Here, equipment is further subdivided into automated storage and retrieval systems (ASRS), robotic arms, automated plate handlers, analyzers, and automated liquid handlers; whereas, software is branched into laboratory information management systems, laboratory information system, electronic lab notebook, chromatography data system, and scientific data management system. Further, the application section is categorized into drug discovery, proteomics solutions, genomics solutions, and clinical diagnostics. Lastly, the end-user segment is sub sectioned into biotechnology & pharmaceutical industries, research institutes, and other end-users.
Globally, Asia-Pacific is anticipated to become the fastest-growing market for laboratory automation during the estimated period of 2021-2028. Among the countries, the R&D activities in the Japanese pharmaceutical industry are growing, owing to the strength of local research institutes. Moreover, the pharma sector’s deregulation has led to a faster and more effective drug approval process, attracting several international investments and fueling exports. Likewise, the growing pharmaceutical sector and rising research in genomics are motivating the studied market’s progress. Hence, the above-stated factors indicate a strong growth of the laboratory automation market across the APAC region.
Perkinelmer Inc, Hudson Robotics Inc, Siemens Healthineers AG, Tecan Group Ltd, Thermo Fisher Scientific Inc, Agilent Technologies Inc, Danaher Corporation, F Hoffmann-La Roche AG, Becton Dickinson and Company, Abbott Laboratories, and Synchron Lab Automation are prominent companies present in the market.
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Question & Answer: Laboratory Automation Market
Question 1: What factors are propelling the growth of the laboratory automation market worldwide?
Answer: Factors such as the advancement of laboratory systems, coupled with a rise in R&D activities, are propelling the growth of the laboratory automation market worldwide.
Automated laboratory equipment is majorly employed in the biotechnology and pharmaceutical sectors, research institutes, and academic institutes to improve workflow. It is an advanced method used over manual handling of samples in laboratories to surge productivity, enhance quality, and improve efficiency in the processes.
Question 2: What key factors are obstructing the expansion of the laboratory automation market?
Answer: The costly setup process, physical constraints, and technology integration challenges are key factors obstructing the expansion of the laboratory automation market.
Question 3: Which region is anticipated to become the fastest-growing in the laboratory automation market?
Answer: Globally, Asia-Pacific is anticipated to become the fastest-growing market for laboratory automation during the estimated period of 2021-2028. Among the countries, the R&D activities in the Japanese pharmaceutical industry are growing, owing to the strength of local research institutes. Moreover, the pharma sector’s deregulation has led to a faster and more effective drug approval process, attracting several international investments and fueling exports. Likewise, the growing pharmaceutical sector and rising research in genomics are motivating the studied market’s progress. Hence, the above-stated factors indicate a strong growth of the laboratory automation market across the APAC region.
Question 4: Which are the prominent companies present in the laboratory automation market?
Answer: Perkinelmer Inc, Hudson Robotics Inc, Siemens Healthineers AG, Tecan Group Ltd, Thermo Fisher Scientific Inc, Agilent Technologies Inc, Danaher Corporation, F Hoffmann-La Roche AG, Becton Dickinson and Company, Abbott Laboratories, and Synchron Lab Automation are prominent companies present in the market.
Related Report:
Global Laboratory Filtration Market
The global laboratory filtration market is likely to surge at a CAGR of 6.12% during the estimated period of 2019-2027, while gathering $3513 million in revenue by 2027.
Laboratory filtration is among the vital lab practices to attain accurate results. This process is used for several applications, including DNA & protein separation, drug screening, and virus removal.
The introduction of products with advanced technology, growing research activities in the biopharma sector, and the surge in the use of filtration in clinical labs, are motivating factors augmenting the growth of the laboratory filtration market. Additionally, the rising demand for filtration equipment is opening new avenues for the studied market to reach its anticipated growth during the forecast period.
However, the high initial investment and low availability of trained professionals hinder the market’s progress largely. Also, the stagnation in innovation, paired with costly import duties, challenges the laboratory filtration market’s future.
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