The Global Market For Lab Automation accounted for US$ 4,790 Mn in 2021 and is estimated to reach US$ 9,371 Mn by 2030, with a significant CAGR of 7.9% from 2022 to 2030.

Laboratory automation is widely regarded as one of the most significant advancements in laboratory diagnostics in recent years. The use of automation in the laboratory allows for a wide range of tests to be carried out using analytical instruments with minimum intervention from a professional. Another benefit of laboratory automation is that it allows laboratories to process more work with fewer people. Additionally, automation reduces the likelihood of inaccuracies in results that are common during manual analysis. Furthermore, by adopting automated methods to store and manage hazardous test materials, automation in healthcare labs enhances safety. As a result,automation is becoming increasingly popular in labs because of its cheaper costs, increased throughput, improved accuracy, reduced experimental errors, and a safer environment.

Market Growth Drivers:

·         Growing number of laboratory tests worldwide

·         Rising research & development investments in the pharma sector

·         Increasing standardization of workflows in laboratories

Market Restraints:

• Sluggish demand in small and medium sized laboratories
• High maintenance cost of lab automation systems

Market Opportunities:

·         Growing pharmaceutical and biotechnology industries

• Integration of AI and analytical tools in the laboratory workflows

Market Dynamics

The unusual spread of the covid-19 epidemic necessitated vast volumes of lab testing, which raised the burden on lab employees in order to keep track of a massive amount of data. Healthcare laboratory data has made it simple for healthcare workers to automate workflows, integrate devices, manage samples, and associate patient test information. Traditional data recording methods, such as record books and spreadsheets, are insufficient to meet the demands of a modern laboratory. The process of storing and evaluating complicated data samples can be made simple and easy with lab automation. For instance, in January 2022 - The 'STRIP-1' test robot, developed by the Hubrecht Institute and Genmab, can process up to 20,000 samples for SARS-CoV-2 testing in 24 hours. As a result, the STRIP-1 is far quicker than any other system to date. The robot was subsequently improved and prepared for diagnostic application by PAMM medical microbiology laboratory Bodegro and Tecan after its initial creation.

Some of the key drivers driving the global laboratory automation market growth include increasing standardization of processes in laboratories, tight regulatory requirements, and increased R&D spending in healthcare settings. In addition, significant lab automation market trends include the growing demand for clinical workflow management and the growing requirement for scientific data integration solutions. In addition, with the introduction of automation techniques, the number of diagnosis cases and real-time result analysis has increased threefold, resulting in a threefold increase in demand for automated devices, improved software, and services. The aforementioned considerations will drive up lab automation demand in major integrated healthcare systems.

Market Segmentation

The global lab automation market is segmented based onproduct type, application, end-user, and geography.

Market by Product Type

·         Robotic Systems

·         Microplate Readers

·         Automated Workstations

·         Off-The-Shelf Automated Workcells

·         Automated Storage and Retrieval Systems (ASRS)

·         Others

Based on product type, the automated workstationssegment achieved maximum market share in 2021. Laboratories are increasingly turning to automated workstations to boost efficiency and output. Many of the classic experimental processes performed by scientists can be automated to improve reproducibility and throughput.Furthermore, integrated automated workstations enable new application-focused laboratory automation solutions that ease microplate handling, liquid handling, and detection, ranging from cellular screening and imaging to high-throughput screening and genomics-based applications.

Market by Application

• Proteomics Solutions
• Genomics Solutions
• Diagnostics
• EIA
• Pre-analytics/Sample Preparation
• Sample Distribution, Splitting, and Archiving
• Microbiology
• Drug Discovery
• ADME Screening
• Compound Weighing & Dissolution
• Compound Management
• High-throughput Screening
• Other Drug Discovery Applications
• Others (Cell Biology and Biobanking)

The diagnostic segment is expected to generate a significant market share in 2021. The ever-increasing use of automation in many medical processes, notable diagnostics, is one of the most fascinating elements of medical technology's progress. Manual specimen

testing, for example, is time-consuming and prone to errors due to human error. Automation aids in the removal of these constraints, allowing for more precise findings in less time. However, the drug discovery segment is expected to achieve a substantial growth rate throughout the forecast period 2022 – 2030. The growing number of infectious diseases throughout the world is a leading aspect that fuels the drug discovery applications.

Market by End-User

• Pharmaceutical and Biotechnology Companies
• Environmental Testing Laboratories
• Food & Beverage Industry
• Forensic Laboratories
• Hospitals and Diagnostic Laboratories
• Research and Academic Institutes

The pharmaceutical & biotechnology companies segment is likely to register the fastest growth rate (CAGR) during the projected years. The requirement for sophisticated testing to provide effective diagnosis and treatment for various ailments has prompted the lab automation market demand as laboratory workflows become more arduous and complex. According to the survey, the rise of highly precision-based diagnosis and treatment solutions from the biopharmaceutical industry following the breakout of COVID-19 extended the growth potential for lab automation systems. As a result, the demand for pharma and biotech companies’ growth is on the rise in the coming years.

Lab Automation Market Regional Overview