Global Lab Automation Market 2023 - 2035: Enhanced Productivity and Improved Timelines Drive Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Lab Automation Market: Distribution by Stage of Automation, Type of Instrument, End-user and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035" report has been added to ResearchAndMarkets.com's offering.

This report features an extensive study of the current market landscape and future potential of the lab automation market, over the next 12 years. It highlights the efforts of various stakeholders engaged in this rapidly emerging segment of the process equipment industry.

Owing to the growing demand for complex biopharmaceuticals, the number of laboratories providing analytical and product development solutions has increased significantly across the globe. During each step of a laboratory process, it is essential to ensure that all the variables and parameters are under control.

However, there are several challenges associated with conventional and manual handling, such as the high risk of sample contamination, high labor costs, time management, operator-to-operator variations and lack of real-time data availability. According to a research article published by Nature, over 70% of scientists were unable to replicate a previously published experiment.

This has created a demand for instruments that can reduce the chances of errors, save time and money and boost reproducibility. As a result, lab automation has emerged as the most suitable alternative since it has the ability to overcome the issues associated with manual handling.

By eliminating laborious and repetitive processes in the lab, automated technologies enable researchers to focus more on specialized operations. Additionally, lab automation minimizes the risk of human errors while maintaining data accuracy and traceability. We believe that the lab automation market will grow significantly in the coming years, owing to significant advancements and the fact that lab automation and related modules can be customized to meet individual needs.

Benefits and Growing Demand for Lab Automation

Lab automation refers to the use of any equipment or device that may execute tasks in the lab with little or no hands-on engagement from professionals. It is one of the rapidly emerging concepts that involves integration of automated technologies into laboratories to enhance operations, including pipetting and data analysis, involved in various day-to-day laboratory practices.

Lab automation devices, such as automated liquid handling systems have several advantages, including the ability to simplify sample preparation while maintaining consistent high accuracy and allowing labs to free up manual labor and run more samples along with maintaining reproducibility.

Further, automated storage and retrieval systems (ASRS) lower down the variable cost of operations by eliminating the need for manual labor for tasks such as picking, storing, assembly and inventory replenishment. This increases the level of accountability and security preventing inventory shrinkage and allowing to locate missing or misplaced items.

It is worth highlighting that large-scale automation employing robotic workstations is generally used in clinical, pharmaceutical and life science labs, where a large number of tests and studies are conducted on a daily basis.

Current Market Landscape of the Lab Automation System Manufacturers

The lab automation market is among the most promising domains in the healthcare industry. Currently, around 350 companies have the required capabilities to manufacture lab automation system. Notably, at present, around 50% of these lab automation system manufacturers are focusing on automated liquid handling systems, as it reduces the chances of human error in the pre-analytical stage of diagnostics, where most of the error occurs.

Automated Storage and Retrieval Systems (ASRS)

The use of automated storage and retrieval systems (ASRS) allows an operator to have better inventory control. In the case of manual inventory control, an operator must check the inventory on a regular basis to obtain pertinent information. Automated storage and retrieval systems (ASRS) keep the inventory safe, secure and under control by enclosing it in a fully enclosed system. This assist to track missing or misplaced goods which increases level of accountability and security preventing inventory shrinkage.

Partnership and Collaboration Trends in the Lab Automation Domain

In recent years, several partnerships have been inked by various stakeholders in order to consolidate their presence in this field and enhance their capabilities and product portfolio to meet the growing demand for lab automation systems. Acquisitions, product development agreements and distribution agreements are the most common types of partnerships inked by stakeholders in the lab automation domain. Further, majority of such partnerships are focused on various automation instruments, including automated data analysis, automated liquid handling systems and total lab automation.

Market Size of the Lab Automation Market

Driven by enhanced productivity and improved timelines, lucrative opportunities are expected to emerge for players developing lab automation systems. The global lab automation market is anticipated to grow at a significant pace, with a CAGR of 13% during the period 2023-2035. Among the stages of automation, the pre-analytical stage is most likely to adopt lab automation because it has the highest risk of error during laboratory diagnostics. in terms of geography, the lab automation market in Asia-Pacific is likely to grow at a relatively faster pace in the long term.

Key Topics Covered:

1. PREFACE

2. EXECUTIVE SUMMARY

3. INTRODUCTION

4. MARKET LANDSCAPE

4.1. Lab Automation System Manufacturers: Overall Market Landscape

5. COMPANY COMPETITIVENESS ANALYSIS

6. COMPANY PROFILES

6.1. Abbott

6.1.1. Company Overview

6.1.2. Financial Information

6.1.3. Lab Automation Product Portfolio

6.1.4. Recent Developments and Future Outlook

6.2. Anton Paar

6.3. BD

6.4. Beckman Coulter

6.5. ERWEKA

6.6. Leuze

6.7. Ortho Clinical Diagnostics

6.8. Pall Corporation

6.9. PerkinElmer

6.10. Roche Diagnostics

6.11. Siemens Healthineers

6.12. SYSTAG

7. PARTNERSHIPS AND COLLABORATIONS

8. PATENT ANALYSIS

9. MARKET FORECAST AND OPPORTUNITY ANALYSIS

10. CASE STUDY: LAB AUTOMATION SOFTWARE

11. EXECUTIVE INSIGHTS

12. APPENDIX I: TABULATED DATA

13. APPENDIX II: LIST OF COMPANIES AND ORGANIZATIONS

For more information about this report visit https://www.researchandmarkets.com/r/eacd4d

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