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The benefits of lab automation over traditional laboratory settings, miniaturization of processes, and government support for biotechnology and drug discovery research are the key factors driving the growth of the lab automation market during the forecast period. In addition, lab automation offers enhanced productivity and reduced costs, better personnel safety, and small volumes of samples and reagents.
The lab automation market is expected to reach USD 5.2 billion by 2022 from an estimated USD 4.1 billion in 2017, at a CAGR of 5.1%.
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The Genomics Solutions Segment is Projected to Grow at the highest CAGR:
The lab automation market is segmented by application into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology solutions, and other applications. While the drug discovery segment held the largest share of the market in 2017, the genomics solutions application segment is expected to grow at the highest CAGR during the forecast period.
Automated solutions are being developed for genomic applications to improve process efficiency and the overall quality of genome analysis. Lab automation products are adopted widely in genomics for high-throughput requirements as automation provides greater reproducibility and throughput compared to manual methods.
North America dominated the lab automation market in 2017
North America held the largest share of the lab automation market in 2017. The implementation of the Affordable Care Act (ACA) in 2010 and increasing funds for the National Institutes of Health (NIH) and the National Science Foundation (NSF) are positively affecting the market in the region. Increasing R&D activities by biotechnology and pharmaceutical companies, the growing number of tests carried out at hospitals & diagnostic labs, and the consolidation of clinical laboratories, have increased the adoption of advanced automated laboratory techniques in North America.
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Key Players:
The lab automation market is highly fragmented and competitive. Tecan Group (Switzerland), PerkinElmer (US), and Danaher (Beckman Coulter & Molecular Devices) (US) are the leading players in this market. Other prominent players include Thermo Fisher Scientific (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Laboratories (US), Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).
Target Audience:
1. Laboratory equipment manufacturers and lab automation consultants
2. Academic and government research institutes
3. Contract manufacturing organizations (CMOs) and contract research organizations (CROs)
4. Venture capitalists and investors
