Lab Automation Market to Reach $11.31 Billion by 2031, Driven by Rising Pharmaceutical & Biotech R&D Expenditures and Increasing Demand for Automated Laboratories and Instruments - Report by Meticulous Research®
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Rising pharmaceutical and biotech R&D expenditures, the increasing demand for automated laboratories and instruments, the high prevalence of chronic and infectious diseases, and initiatives supporting life sciences R&D are driving the growth of the lab automation market. However, the high costs of advanced lab automation equipment and funding & infrastructure limitations in developing countries are factors restraining the growth of this market.
Furthermore, growth in genomics & proteomics research, the increasing focus on food safety & quality, rising awareness & growing adoption of personalized medicines, and emerging economies are expected to generate growth opportunities for the players operating in the lab automation market. However, equipment maintenance & repair and data security & privacy concerns are major challenges impacting market growth.
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Automated Laboratories: Effective Management of Clinical Workflows
Lab automation is being widely adopted in clinical laboratories to increase accuracy and efficiency and reduce costs and errors. In the field of medicine, a diagnostic error can incur very high costs. Hence, automating clinical laboratories can significantly reduce human errors and associated costs.
Automating clinical laboratories can have a positive impact on patient outcomes. Quick and reliable diagnostic results allow medical professionals to initiate appropriate treatments, improving the chances of patient survival. Additionally, limited resources, long waiting times for diagnostic results, and the shortage of skilled laboratory staff can lead to poor patient outcomes. The implementation of lab automation in clinical laboratories helps mitigate these issues and provides quick and reliable results, improving patient outcomes.
In the U.S., an estimated 10–20% of diagnoses are inaccurate and result in 40,000–80,000 deaths each year. Automation improves the ordering, testing, and reporting of diagnostic tests and ensures higher throughput, increased productivity, efficient use of reagents & materials, and standardization, decreasing errors and improving turnaround times.
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The players operating in this market are focused on launching new automated diagnostic instruments. For instance:
Lab Automation Market Analysis: Key Segmental Findings
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Geographic Analysis:
North America Dominates the Global Market
North America is expected to account for the largest share of 40.8% of the lab automation market. In terms of value, in 2024, the U.S. is expected to account for the major share of 92% of the lab automation market in North America. Pharmaceutical companies in the U.S. are at the forefront of adopting cutting-edge technologies, with a strong emphasis on the implementation of lab automation systems to enhance operational efficiency and gain a competitive edge in the pharmaceutical sector. The adoption of lab automation technologies is driven by several factors, including the surging need for high-throughput analysis, increasing investments in research and development, laboratories' growing need for increased efficiency, precision, and productivity, and the increasing focus on genomics research and genetic testing. These dynamics are boosting the adoption of lab automation across the country. The U.S. has low market barriers for developing and commercializing pharmaceuticals due to the supportive domestic environment. With the availability of government funding for research activities, robust capital markets, and strong academic research in the country, the U.S. is the world's largest scientific research base, attracting most global venture capital investments in the biotechnology industry.
Asia-Pacific to Witness Rapid Growth
Asia-Pacific is expected to record the fastest growth over the forecast period, with the regional market reaching $2.74 billion by 2031. The high growth of this regional market is driven by the expanding pharmaceutical & biotechnology industries, rapidly improving healthcare infrastructure, growth in pharmaceutical research, and increasing government funding in APAC. The Asia-Pacific region has become one of the most attractive markets for healthcare & life sciences companies worldwide, primarily due to changing demographics and accelerated economic growth in the region. Countries such as China, India, South Korea, and Indonesia are expanding their healthcare infrastructure, driving the demand for laboratory automation.
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In 2024, China is expected to account for the largest share of the lab automation market in Asia-Pacific. The country's large market share is mainly attributed to government initiatives focusing on research and development, increasing R&D expenditures of pharmaceutical and biopharmaceutical companies, favorable regulatory policies, the rising prevalence of infectious & chronic diseases, the rising geriatric population, and the increased demand for lab automation among clinical laboratories due to increased disease prevalence.
Germany Continues to Dominate the Lab Automation Market in Europe
In 2024, Germany is expected to account for the largest share of the lab automation market in Europe. Factors such as increasing government investments in the pharmaceutical industry, growing biotech & pharmaceutical R&D expenditures, rising healthcare spending, increasing sample volumes in laboratories due to the rising incidence of chronic and infectious diseases, the increased demand for precision medicines, and the rising focus on genomics research contribute to the country's largest market share. Germany has a favorable environment for developing and producing research-intensive, high-grade products. According to German Trade & Invest, in 2021, the pharmaceutical industry in Germany invested over $9.1 billion (€7.7 billion) in research and development. Additionally, the government and funding organizations have pledged to substantially increase public & private R&D spending and researchers by 2030 as part of the country's Sustainable Development Goals (SDG). Thus, increasing government funding for research, the wide availability of technologically advanced laboratory informatics solutions, and laboratories' need to reduce errors, and associated costs are expected to drive the growth of the lab automation market in Germany.
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Lab Automation Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios, geographic presence, and key growth strategies adopted over the past 3–4 years. Major companies in the lab automation market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the lab automation market include product launches, product enhancements, approvals, partnerships, collaborations, agreements, acquisitions, and expansions. The key players operating in the lab automation market include Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Revvity, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), Tecan Group Ltd. (Switzerland), F. Hoffmann-La Roche AG (Switzerland), Siemens Healthineers AG (Germany), Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), Hudson Robotics, Inc. (U.S.), and Hamilton Company (U.S.).
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Lab Automation Industry Overview: Latest Developments from Key Industry Players
The report provides a competitive dashboard summarizing the market positioning of the 20 profiled market players in four quadrants, namely Industry Leaders, Differentiators, Emerging Companies, and Vanguards. These companies are positioned based on various parameters, including revenue, depth of offerings, brand equity, geographic presence, innovation, and organic & inorganic growth strategies. Thermo Fisher Scientific, Inc. (U.S), Danaher Corporation (U.S.), F. Hoffmann-La Roche AG (Switzerland), Hamilton Company (U.S.), Abbott Laboratories (U.S.), and Siemens Healthineers AG (Germany) are positioned in the industry leaders quadrant.
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Scope of the Report:
Lab Automation Market Assessment–by Product
Lab Automation Market Assessment–by Application
(Note: Other applications include bioprocessing in biotechnology, cell analysis, basic research, forensic analysis, and quality control in the F&B industry.)
Lab Automation Market Assessment–by End User
(Note: Other end users include the food & agriculture industries, forensic laboratories, blood banks, and environmental & quality testing laboratories.)
Lab Automation Market Assessment–by Geography
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Lab Automation Market Research Summary
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