Lab Automation Market 2030: Europe’s Investment in Cutting-Edge Laboratory Solutions
The global lab automation market was valued at USD 6.87 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.64% from 2023 to 2030. Laboratory automation refers to the use of specialized technologies designed to streamline or replace the manual handling of procedures and equipment in labs. The degree of automation is typically determined by the specific workflow of the laboratory in question. In academic and research institutions, automated instruments are more frequently adopted to improve productivity and reduce the time spent on repetitive, time-consuming tasks.
Moreover, the growing utilization of automated instruments in drug discovery and development is expected to further drive market expansion during the forecast period. A notable example is Insilico Medicine’s announcement in June 2022, where the company revealed plans to launch an AI-driven robotic laboratory for automated drug discovery.
One of the key drivers of market growth is the wide range of benefits offered by process automation. In clinical laboratories, the shift from manual processes to automated systems provides several advantages. Some of the primary benefits include increased productivity, enhanced safety in the workplace, more reliable results, and significant time, labor, and cost savings across various laboratory processes and products.
Gather more insights about the market drivers, restrains and growth of the Lab Automation Market
Regional Insights
North America Lab Automation Market Trends
North America dominated the global lab automation market with a revenue share of 35.76%. The region’s strong growth can be attributed to several key factors, including the presence of a well-established healthcare infrastructure and the high demand for automation systems in laboratories. This demand is driven by the need for increased speed, consistency, and precision in laboratory processes. Additionally, the market is further supported by the rising demand for integrated laboratory systems and favorable government regulations that encourage research and innovation in the field.
Another important factor contributing to the growth of the lab automation market in North America is the increasing demand for high-throughput analysis. This is coupled with various strategic initiatives undertaken by companies operating in the region. For example, in February 2023, Automata, a leading provider of laboratory automation services, announced its expansion into the U.S. market. This move is aimed at unlocking new automation opportunities and enhancing the potential for growth in the region.
Asia Pacific Lab Automation Market Trends
In contrast, the Asia Pacific region is expected to be the fastest-growing market for lab automation, with a projected compound annual growth rate (CAGR) of 8.55% during the forecast period. Several factors contribute to this rapid growth, including the rising number of small and medium-sized laboratories in the region, which are increasingly adopting automated solutions to improve efficiency and productivity. Additionally, market leaders are making significant investments to introduce new and innovative systems to the region, further fueling market expansion.
Furthermore, supportive government policies in several Asia Pacific countries are playing a key role in facilitating the adoption of lab automation technologies. These policies aim to promote research and technological advancement, which, in turn, supports the growth of the lab automation market in the region.
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Key Companies & Market Share Insights
The key players in the market are undertaking various strategic initiatives to maintain their market presence. In addition, these initiatives help players bolster their business avenues. For instance, in January 2023 Becton, Dickinson and Company (BD) launched its third-generation lab automation system for microbiology labs. The newly launched BD Kiestra is an ideal solution for automating lab specimen processing. Some prominent players in the global lab automation market include:
- QIAGEN
- PerkinElmer Inc.
- Thermo Fisher Scientific, Inc.
- Siemens Healthcare GmbH
- Danaher
- Agilent Technologies, Inc.
- Eppendorf SE
- Hudson Robotics
- Aurora Biomed Inc.
- BMG LABTECH GmbH
- Tecan Trading AG
- Hamilton Company
- F. Hoffmann-La Roche Ltd
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