Lab Automation Market

The report "Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2029", will reach USD 7.71 billion by 2029 from USD 5.85 billion in 2024 and grows at a CAGR of 6.9% in the forecast period. High-throughput screening, which is gaining pace in drug discovery and diagnostics, is the key growth driver for the lab automation market. Automation reduces human error, leading to more consistent and accurate results, making it perfect for clinical and research use. Advancements of robotics, artificial intelligence, and integrating with data capabilities continue the advancements of lab automation systems closer to advanced capabilities. An increase in R&D spending in pharmaceutical industries to speed up drug development demands trends to this necessity. Alongside these, the growing demand for personalized medicine favors fast and accurate diagnosis tools. Government policies and expenditure on healthcare infrastructure in emerging economies will further foster growth in this market.

Browse 320 market data Tables and 60 Figures spread through 245 Pages and in-depth TOC on "Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2029"
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Software segment to register significant growth rate over the forecast period

The lab automation market is divided based on product type into automated workstations, off-the-shelf automated work cells, robotic systems, automated storage and retrieval systems, software, and other lab automation solutions. Amongst these, the software segment is expected to grow at a significant rate during the forecast period. Laboratories demand robust data integrity and traceability solutions. This segment has several significant sub-segments, such as Laboratory Information Management Systems, Electronic Laboratory Notebooks, Laboratory Execution Systems, and Scientific Data Management Systems. The LIMS market finds stimulus in the increasing necessity to manage vast volumes of data efficiently.

The demand for ELNs is further necessitated by high demands in regulatory compliance, intellectual property protection, and efficient management of instruments. LES moreover provides a paperless environment that improves the efficiency of workflow productivity and contributes to the growth of the market. Another driving force behind the demand for SDMS is the rising need to collect and manage huge amounts of data. With laboratories continually finding ways to optimize their processes and increase productivity, the growth of these software solutions will remain an important aspect of the lab automation market.

Drug Discovery has the largest share in 2023

The largest share of lab automation lies in drug discovery-related applications, as drug development involves highly complex and labor-intensive activities. Automation technologies assist to streamline compound testing and high-throughput screening stages. Besides being efficient in identifying potential candidates for drugs, they further reduce labor costs and the time taken to market a drug. Automation-specific solutions such as from firms like Agilent Technologies (US), PerkinElmer (US), Tecan Group (Switzerland), and Beckman Coulter (US) are capable of regulating complete assay setups with the least probable human mistakes. The increased demand for innovative therapeutics in oncology, neurology, and infectious diseases, will continue to drive heavy demand for automated solutions for drug discovery in the lab automation market.

Hospital and Diagnostic Laboratories accounts for the largest share in 2023

The healthcare sector, especially the hospital and diagnostic laboratories, requires high-throughput and efficient automation solutions. Due to the increased rate of chronic diseases, newly discovered infectious disease outbreaks, and the need for rapid diagnosis of diseases, the laboratories need to automate their work process. This would reduce the processing time and avoid human errors while enhancing the accuracy of the process. Some of the main automation technologies include sample handling systems, liquid processing, and data management, through which laboratories can run hundreds of tests without sacrificing quality. In conclusion, in the lab automation market, the continued automation of hospital and diagnostic laboratories is very important as it enhances productivity and greatly improves turnaround times.

US has the largest share in North America during the forecast period

Through the forecast period, the lab automation market in North America will be dominated by the US. This is mainly due to the following aspects: The country has one of the most advanced health infrastructures. There is a presence of prominent pharmaceutical and biotechnology companies in this country. The country is also investing in research and development to develop innovative automated solutions. Further, growth will be influenced by increasing demands for effective laboratory procedures to absorb an ever-increasing number of diagnostic tests and drugs developed. Furthermore, healthcare innovations and technology adoptions supported by the U.S. government are stimulating demands to include automated systems, to enhance productivity, and boost precision. Secondly, the laboratories are taking in new technologies very rapidly, such as artificial intelligence and robotics, which also increases the lead position of the U.S. in the lab automation market in North America.

Key players in this market are Thermo Fisher Scientific (US), Tecan Group (Switzerland), Danaher Corporation (US), Agilent Technologies (US), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity (US), Eppendorf AG (Germany), Becton, Dickinson and Company (US), Waters Corporation (US), Siemens Healthineers (Germany), Abbott Laboratories (US), Biomérieux (France), Hamilton Company (US), Hudson Robotics (US).

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