Global Lab Automation Market, By Product (Liquid Handling Products, Microplate reader, Robotics and Others), by End User (Research Institutes, Biopharmaceuticals and pharmaceuticals, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 4,903.9 Million in 2022 and is expected to exhibit a CAGR of 4.9% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing inorganic strategies such as acquisitions by key players is expected to drive the global lab automation market growth over the forecast period. For instance, in August 2021, Tecan Trading AG, one of the leading global providers of laboratory equipment specialized in the development, production and distribution of instruments, announced the acquisition of U.S.-based Paramit Corporation and its affiliates, one of the leading OEM developers and manufacturers of medical devices and life sciences instruments. This acquisition is done to extend Tecan’s position in solutions for life sciences and In-Vitro Diagnostics (IVD). The acquisition will provide considerable engineering and cost-competitive manufacturing capabilities both in North America and the APAC region.
Global Lab Automation Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe has impacted the financial status of businesses across all sectors, including the private healthcare sector.
Many patients with COVID-19 has severe respiratory infection that requires hospitalization and mechanical ventilation. Governments of various countries are focusing on initiatives to fight against the COVID-19 pandemic and to stop the spread of the coronavirus infection by implementing various measures in their respective countries.
Moreover, there is positive impact of COVID-19 pandemic on global lab automation market due to increase in research and development activities and demand for clinical labs and pharmaceutical firms. For instance, a review article was published by MDPI in December 2020, according to which the COVID-19 pandemic has sped up the medical research and development while placing more demands on clinical labs and pharmaceutical firms, as a result of the rise in use of microplate readers, automated liquid handling, and robots.
Global Lab Automation Market: Key Developments
Increasing product launches by the market players is expected to drive the global lab automation market over the forecast period. For instance, in February 2022, Biosero Inc., a member of the BICO group, a developing science-centric software and laboratory automation tool, announced the introduction of a number of new features and products for the company's Green Button Go software line. Together, these tools offer a wide range of cutting-edge features to support clients in streamlining, managing, and improving the output of their automated lab systems. Green Button Go software allows scientists to automate their workflow ranging from a single workstation to operations that span multiple labs.
Browse 32 Market Data Tables and 23 Figures spread through 156 Pages and in-depth TOC on “Global Lab Automation Market”- Forecast to 2030, Global Lab Automation Market, Global Lab Automation Market, By Product (Liquid Handling Products, Microplate reader, Robotics and Others), by End User (Research Institutes, Biopharmaceuticals and pharmaceuticals, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Increasing strategies such as product availability by the key players is expected to drive the global lab automation market over the forecast period. For instance, in June 2022, PerkinElmer Inc., a company focused in the business areas of diagnostics, life science research, food, environmental and industrial testing, announced the global availability of its ready-to-use, MicrofastTM microbial count- plates for food- safety testing. The new microfilm plates offer quick, easy, and accurate quantification of aerobic, E. coli, coliform, enterobacteriaceae, yeast, mould, and staphylococcus aureus contamination in dairy, meat/poultry, fruit, vegetable, baked products, and environmental surface samples. The AOAC Performance Tested Methods (PTM) accreditation has been granted to all the six plate- types by Association Of Official Analytical Collaboration (Aoac) International.
Key Takeaways of the Global Lab Automation Market:
- The global lab automation market is expected to exhibit a CAGR of 9% during the forecast period, due to the increasing adoption of the strategies such as facility expansion by key market players over the forecast period. For instance, on November 27, 2022, Thermo Fisher Scientific, one of the global manufacturers of scientific instrumentation, reagents, consumables, and software services, announced the expansion of clinical research laboratory in Kentucky, U.S. The clinical research laboratory will be of 114,000 square feet and will include central lab and biomarker operations, and others.
- Among Product, liquid handling product is estimated to hold a dominant position in the global lab automation market over the forecast period due to the increasing product launches by key market players. For instance, in June 2022, Analytik Jena GmbH, a subsidiary of Endress+Hauser Group Services AG, announced the launch of pipetting- heads for the fully- automated liquid handling platform, CyBio FeliX. CyBio FeliX is a fully automated, modular pipetting platform in which the heads of pipets can be changed instantly without any tools.
- Among regions, North America is estimated to account for the largest market share in the global lab automation market over the forecast period, owing to the product launches by the key market players in the region. For instance, in October 2022, Thermo Fisher Scientific Inc., a company based in U.S., announced the launch of Gibco CTS DynaCellect Magnetic Separation System (DynaCellect). It is scalable, flexible, automated, and closed system which helps in optimizing the cell therapy manufacturing process.
- Major players operating in the global lab automation market include Tecan Trading AG, PerkinElmer Inc., Danaher, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Inc., Hamilton Company, COPAN Diagnostics Inc., Abbott, Merck KGaA, F. Hoffmann-La Roche Ltd, Siemens Healthcare Private Limited, UiPath, and Porvair Sciences, SPT Labtech Ltd, Endress+Hauser Group Services AG, Automata, accroma, Molecular Devices, LLC, Beckman Coulter, Inc., BD, Reshape Biotech, Peak Analysis & Automation among other prominent players