Selbyville, Delaware, June 27, 2023 (GLOBE NEWSWIRE) --
Lab Automation Market size is expected to cross USD 11 billion by 2032. The increasing demand for efficient and accurate laboratory processes, coupled with the need for cost & time savings has led to the wider adoption of automation solutions. Advancements in technology, such as robotics, artificial intelligence, and machine learning, have encouraged laboratories in medical field to rely on these sophisticated automation systems.
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Moreover, the growing emphasis on drug discovery & development, genomics research, and personalized medicine has also fueled the demand for lab processes & systems that offer high precision as well as efficiency. The stringent regulatory requirements and the need for reproducibility in research & testing further contribute to the expansion of the market.
Fast decision-making to fuel software demand
Lab automation market is segmented into software and equipment. The software segment is predicted to witness robust progression through 2032 as it enables seamless integration and management of various laboratory processes. The software acts as the backbone of automated systems, providing control, monitoring, and data analysis capabilities. It allows for the integration of diverse instruments & devices, facilitating the smooth transfer of data and samples between different stages of the process.
Furthermore, lab automation software offers features like scheduling, instrument calibration, data tracking, and real-time monitoring, enhancing productivity and ensuring quality control. It enables scientists and researchers to focus on data analysis and decision-making rather than time-consuming manual tasks. The software also provides data storage and retrieval, aiding in research reproducibility and compliance with regulatory standards.
Focus on drug discovery to drive market growth
The lab automation market is bifurcated into clinical diagnosis, genomics, drug discovery, proteomics, and others. The drug discovery segment is slated to influence industry demand over 2023-2032, owing to increasing focus on R&D for discovering new medications. Lab automation enables high-throughput screening of large compound libraries, allowing researchers to test thousands of potential drug candidates in a shorter time frame.
It streamlines various stages of drug discovery, including compound synthesis, sample preparation, assay development, and data analysis. It minimizes human error and increases the reproducibility of results, leading to more reliable findings. Lab automation also enables the integration of advanced technologies such as robotics, liquid handling systems, and data analytics, allowing faster identification of lead compounds and optimization of drug candidates.
Increasing adoption in diagnostic labs for standardized testing procedures
The lab automation market is segmented as research & academic institutes, pharmaceutical & biotechnology companies, diagnostic labs, and others. The lab automation industry share from diagnostic labs segment will grow substantially by 2032. By automating routine tasks such as sample handling, processing, and analysis, lab automation reduces human error and increases the accuracy & efficiency of test results in diagnostic labs.
Additionally, the software can be integrated with laboratory information management systems (LIMS) to streamline data management and enhance traceability. This enables seamless tracking of patient samples, reduces the risk of sample mix-ups, and improves the overall laboratory workflow. Benefits such as standardization of testing procedures, control of variables with minimal variations, and improved quality of diagnostic tests are favoring the solution adoption in diagnostic labs.
Rising technological developments in the APAC region
Asia-Pacific lab automation market size will expand at rapid pace during 2023 and 2032. The region has witnessed significant economic expansion, leading to increased investment in medical R&D activities. The countries such as China, Japan, and South Korea are increasingly focusing on technological advancements and innovation in industries like healthcare and pharmaceuticals. Additionally, the availability of skilled labor at a lower rate, favorable government initiatives for medtech, and a large customer base are contributing to the development of lab automation in the APAC region.
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Competitive landscape of the global market
The leading solution providers in the global lab automation market are Siemens Healthineers, Qiagen N.V., Danaher Corporation, PerkinElmer Inc., Eppendorf AG, Thermo Fisher Scientific, Inc., Bio Tek Instruments, Inc., and Agilent Technologies, Inc., among others.
Partial Table of Contents (ToC) of the report:
Chapter 3 Lab Automation Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increaseing need for optimizing clinical workflow
3.2.1.2 Rising investment in healthcare infrastructure
3.2.1.3 Increasing product launches
3.2.1.4 Rising use of automated instruments by drug discovery units
3.2.2 Industry pitfalls & challenges
3.2.2.1 High cost of robotic systems
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By application
3.3.3 By end-use
3.4 COVID- 19 impact analysis
3.5 Pricing Analysis
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Regulatory Landscape
3.8 Reimbursement Scenario
3.9 Application Potential
3.10 Technology Landscape
3.11 Gap Analysis
3.12 Policies/Initiatives Landscape
3.13 Porter’s analysis
3.14 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Vendor matrix analysis, 2022
4.6 Strategy dashboard, 2022
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