The global total lab automation market size is projected to grow at a CAGR of above 8.02% during the forecast period of 2021 to 2026. The growing need for brand spanking new drug discovery through automation, rising demand for higher accuracy, and increasing prominent players getting into strategic partnerships are a number of the factors fuelling this market's growth.
Total Lab Automation represents an automation system employed to perform highly repetitive tasks conducted within the library. Total Laboratory Automation system will perform the overall and esoteric laboratory testing throughout the system in a timely and cost-effective fashion. Presently, the biotechnology & pharmaceutical industries segment is the major revenue contributor due to the large presence of pharmaceutical companies worldwide and an increase in robotics & laboratory automation adoption. The automated workstation segment accounted for the most important share of the total lab automation market in the review period.
The high demand for automation in liquid handling is the key factor driving the global total lab automation market growth, and automated workstations offer advantages like enhanced accuracy and reduced time and price.
Additionally, growing demand for sample results, data integrity, short method development time, increasing healthcare expenditure, rising need for high efficiency, and low regent cost are factors driving the growth of the total lab automation market.
To meet the rising demands of the healthcare industry, pharmaceutical and biotechnology companies are investing heavily in research and development activities that enhance the demand of the market. Pharmaceutical companies such as Sun Pharmaceuticals, Cipla, and Lupin Ltd., for instance, spent 8.8% of their revenue in R&D in 2018, according to the India Brand Equity Foundation (IBEF). Furthermore, partnerships between pharma companies and healthcare stakeholders for R&D in therapeutics are likely to fuel the total Lab Automation market demand.
Increasing demand for higher accuracy within the testing results wiped out the laboratories, which is one of the crucial factors augmenting automation adoption within the laboratories. This is often expected to spice up the global total lab automation market over the forecast period. Additionally, lab automation offers are low regent cost and high productivity, reproducibility, and accuracy. These benefits are also raving up the demand for lab automation in various application sectors.
The high initial investment, combined with the small and medium laboratories' rigidity to adopt this automation, is one of the prominent restraining factors for the global total lab automation market. According to industry experts, the cost of maintaining IT solutions is higher than the cost of the software itself. Furthermore, a lack of risk-taking capacity is limiting the growth of the total lab automation market.
During the forecast period, emerging markets are expected to provide substantial growth opportunities for lab automation device manufacturers and distributors. Increased sales of lab automation products due to increased demand for clinical diagnostic procedures is to set new growth opportunities for the market. Major product manufacturers are expanding their distribution networks and manufacturing capacities in developing markets to grow their market share. This presents a profitable opportunity for laboratory automation.
The rising demand for skilled personnel, along with a lack of acceptance by small and medium-sized laboratories, will be the market's biggest challenge. Because of the challenges of sharing data and communication standards between automated instruments from two separate organizations, the evolving nature of laboratory work necessitates automated solutions with greater versatility and interfacing capabilities. These factors are challenges for the total lab automation market.
Impact of COVID-19 on the global total lab automation market:
Medical facilities are in higher demand along with the increasing COVID 19 patients. Respiratory support devices, including an atomizer, a life-support system, an oxygen generator, and a monitor, are among the most widely used medical devices in primary clinical care. COVID-19 has also resulted in a significant increase in demand for medical supplies such as personal protective equipment (PPE). The COVID-19 pandemic has increased drug development and research, thus putting excessive pressure on pharmaceutical companies and clinical laboratories.
On the other hand, the pandemic has resulted in lower profits and margins for hospitals and health systems and lower investments in automation and technology. In June 2020, a notable use case involving a Danish pipetting robot was identified, automating COVID testing processes in hospitals across Europe. The Danish company Flow Robotics' liquid-handling robot has accelerated the process of COVID tests. Thousands of COVID-19 tests are currently being prepared for analysis by Flow Robotics' advanced flow bot ONE daily. With these factors, the demand for the total lab automation market is increasing enormously during the pandemic.
Market Size Available
2020 to 2026
2021 to 2026
Based on type, application, and region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global total lab automation market has been segmented and sub-segmented based on the type, application, and region.
Total Lab Automation Market - By Application:
The advances within the fields of genomics that deal with biology concerning the structure, function, evolution, and mapping of genomes create an abnormal amount of knowledge, making it imperative for the laboratories to look for the solutions that cater to such needs. This is expected to boost the genomic segment in the global market over the forecast period to account for a dominant share.
Total Lab Automation Market - By Type:
Currently, the equipment segment is the major revenue contributor to the global total lab automation market and is estimated to grow significantly during the forecast period. Some critical factors like the rise in demand for automated laboratory equipment and technological advancements are majorly driving the market share.
Laboratory Information Management System (LIMS) segment in the software type will probably possess an enormous demand in the future. A Laboratory Information Management System (LIMS) enables the user to automate work processes, integrate instruments, produce reliable outcomes rapidly, and improve effectiveness by the following information from sequencing that runs over time and across experiments.
Total Lab Automation Market - By Region:
Geographically, the North American total lab automation market possesses lucrative growth during the forecast period thanks to increased spending on medicinal services. The regional market is supported by the prompted increment in innovative work exercises, including clinical trials where automation becomes imperative to urge error-free outcomes to achieve greater accuracy. For example, in January 2019, Shimadzu Medical Systems USA announced ORE Medical Imaging, Inc.
Asia Pacific's total lab automation market is predicted to ascertain faster growth during the forecast period due to developing nations like India, South Korea, Australia, and China, among others. This growth is attributed to the supply of skilled workforce required within lab automation and improving economic conditions within the area.
KEY MARKET PLAYERS:
Some of the prominent companies dominating the global total lab automation market profiled in this report are Danaher Corporation, Hamilton Company, Honeywell International Inc., Shimadzu Corporation, Siemens AG, Thermo Fisher Scientific Roche Ltd, Qiagen Inc., Abbott Laboratories, and Agilent Technologies Inc.
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
On Oct 21, 2019, Danaher Corporation announced that it had signed a deal to sell its label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses Sartorius AG for about $750 million. The companies' combined revenue, which is a part of Danaher's Life Sciences segment, was valued at around US$140 million in 2018. Danaher agreed to sell these businesses as a step towards obtaining regulatory approval for its pending acquisition of the GE Biopharma business. Therefore, the closing of the Sartorius AG agreement is conditioned upon Danaher's closing its acquisition of the GE Biopharma business.
As a part of a partnership with Airbus, Hamilton specially developed two new sensors to be used onboard the International space platform. "VisiSpace," a custom version of Hamilton's VisiFerm dissolved oxygen sensor, and "ConduSpace," a custom version of the Conducell conductivity sensor, are incorporated into Airbus' Advanced closed-loop system System (ACLS) experimental life network.
Hamilton Storage signed a deal with iBio-Gene on May 1, 2019, to distribute its automated sample management products in China. iBio-Gene is based in Beijing, with several staff and technicians located in many areas of China, including Shanghai. The company helps its customers augment life sciences research, solve complex analytical challenges, improve diagnostic methods, and increase laboratory productivity. The corporate is committed to providing the leading advanced science equipment and total solutions for patrons in biobanking. Their mission is to support customers to form the research accessible, reproducible, and consistent in every experiment.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Total Lab Automation Market, By Type
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Total Lab Automation Market, By Application
6.2.1 Drug Discovery
6.2.3 Protein Engineering
6.2.5 Analytical Chemistry
6.2.6 Clinical Diagnostics
6.2.8 Market Size Estimations & Forecasts (2019-2024)
6.2.9 Y-o-Y Growth Rate Analysis
6.2.10 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Danaher Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Thermofisher Scientific Inc.
8.3 Hamilton Company
8.4 Siemens AG
8.5 Roche Ltd
8.6 Schimadzu Corporation
8.7 Qiagen Inc.
8.8 Honeywell International Inc.
8.9 Abbott Laboratories
8.10 Agillent Technologies Inc.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures