New Study Finds Lab Automation Market Poised for Continued Growth, Focus on Genomics Solutions

The lab automation market is expected to reach $5.20 billion by 2022 from an estimated $4.06 billion in 2017, at a CAGR rate of 5.1%, according to leading B2B research company MarketsandMarkets.

The Study

Objective: The objective of the new report: Analyze lab automation with the aim of:

• Defining, describing and forecasting the lab automation market by equipment and software, application, end user and region; and
• Providing detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities and challenges).

Methodology: The report analyzes lab automation, by equipment and software, in six primary categories:

• Automated workstations;
• Off-the-shelf automated workcells;
• Robotic systems;
• Automated storage & retrieval systems;
• Other equipment; and
• Software.

It also looks at the lab automation market by application, including:

• Drug discovery;
• Clinical diagnostics;
• Genomics solutions;
• Proteomics solutions;
• Microbiology; and
• Other applications.

Findings: Largest Market Share, 2017
The automated workstations segment currently accounts for the largest share of the lab automation market, according to MarketsandMarkets. The firm cites high demand for automation in liquid handling as the key factor driving market growth in this segment. It notes that automated workstations offer advantages such as enhanced accuracy, and reduced time and cost.

Findings: Projected Growth, 2022
Based on applications, the genomics solutions segment is expected to grow at the highest CAGR during the forecast period. The firm finds that use of automation is on the rise in genomics for high-throughput requirements, providing greater reproducibility and throughput as compared to manual methods.

Source of Growth
North America currently commands the largest share of the global lab automation market. MarketsandMarkets cites:

• Increasing adoption of lab automation systems;
• Implementation of the Affordable Care Act (ACA) in 2010; and
• Economic stimulus programs such as increased funding for the National Institutes of Health (NIH) and National Science Foundation (NSF); and
• Increased R&D activities by biotechnology and pharmaceutical companies as drivers of market growth in North America.

Key Market Players
The firm also identifies companies serving as major players in the lab automation market, including:

• Tecan Group (Switzerland);
• PerkinElmer (US);
• Danaher (Beckman Coulter & Molecular Devices) (US);
• Thermo Fisher (US);
• Agilent Technologies (US);
• Hamilton Robotics (US);
• Abbott Diagnostics (US);
• Eppendorf (Germany);
• QIAGEN (Netherlands);
• Roche Diagnostics (Switzerland); and
• Siemens Healthcare (Germany).

For more information, and the full report, visit the MarketsandMarkets website.