An introduction to the lab automation market
Lab automation is the process of the integration of various types of devices on a same platform, such as diagnostic analyzers, research devices, and supportive instruments and software to increase throughput with remarkable speed, precise motion, and consistency in report generation. During the automation of a routine laboratory, dedicated workstations and software are used to program instruments, which allows scientists and technicians to maintain consistency in quality and result output by reducing mundane tasks.
The growing number of diagnosed cases and increasing real-time result analysis with the advent of automation techniques have led to a threefold increase in the demand for automated devices, services, and advanced software.
Lab automation offerings consist of two types of components - devices and software. The devices section consists of biochemistry devices, molecular devices, hematology devices, immunology devices, microbiology devices, and others. In the software section, FMI has included scheduling software and momentum integrated software.
In the overall lab automation market, the devices segment has the largest market share in terms of value, which has a huge potential in the coming future, due to the increasing demand for biochemistry devices and molecular devices.
Due to the dominant features and advantages, lab automation is preferred by the diagnostics industry, followed by drug discovery and research labs. Lab automation has a wide variety of applications in life sciences, ranging from clinical pathology to molecular research. In clinical diagnostics such as biochemistry, hematology, microbiology, and immunology, high throughput is directly proportional to time efficiency and operator safety.
While research organizations and academic institutions generally prefer automation, which reduces human intervention in tedious and repetitive tasks. The global lab automation systems market was valued at US$ 1,130 Mn in 2016, and is expected to expand at a CAGR of 9.6% over the forecast period (2017–2027).
Increasing acceptance of lab automation in developing economies and rising use of lab automation in large integrated health systems to boost revenue growth
Emerging countries in the Asia Pacific region such as China and India are the major countries for investment opportunities because of higher growth rates of molecular-based diagnosis, quality improvisations, increasing number of partnerships, and healthcare modernization in these countries. To increase revenue share, medical device manufacturing companies are focusing on the development of automated devices used for in-vitro diagnosis and research, with advanced facilities, which will indirectly pump growth into the lab automation market, and also boost the software and services revenue over the forecast period.
The increasing demand for high-end, advanced lab automation devices from end users, such as pharmaceutical and biotechnology companies, hospitals and diagnostics centers, ambulatory surgical centers, educational institutes, and research organizations for better output and performance will generate opportunities for the launching of novel lab automation techniques and services in the market over the long run.
The use of lab automation services has increased very steeply over the past decade. Lab automation services help in increasing throughput at a remarkable speed, and with precise motion and consistency in report generation. The growing number of diagnosis cases and real-time result analysis with the advent of automation techniques has led to a threefold increase in the demand for automated devices, and advanced software and services. The aforesaid factors will increase the demand for lab automation in large integrated healthcare systems.
Several players in the lab automation market are majorly focusing on new automated device launches and services to reduce the costs of lab automation services, in order to gain maximum market share. Acquisition, mergers, strategic collaborations, and technology play a vital role in the growth of the lab automation market.
The global lab automation market is categorized on the basis of product type, application, end user, and region
On the basis of component, the lab automation market is segmented by devices and software. Further, the devices segment has been segmented into six categories - biochemistry devices, molecular devices, hematology devices, immunology devices, microbiology devices, and others. The software segment is bifurcated into two segments scheduling software and momentum integration software.
On the basis of application, the lab automation market is segmented into life sciences research & development, drug-discovery, and diagnostics. In terms of revenue share, the life sciences R&D segment dominated the global lab automation market in 2017, and is expected to do so throughout the forecast period. The diagnostics application segment is anticipated to expand at the fastest CAGR over the forecast period.
On the basis of end user, the global lab automation market is segmented into pharmaceutical companies, hospitals and diagnostic centers, educational institutions, contract research organizations (CROs), and research institutes. The hospitals and diagnostic centers segment currently accounts for the highest revenue in the lab automation market, due to the increasing usage of automation devices in hospitals and diagnostic centers in developed countries.
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North America and Western Europe are expected to maintain key market positions in the lab automation market in the coming years
Among the key regional markets, the North American lab automation market is projected to exhibit relatively higher growth in the global lab automation market, with a CAGR of over 10.7% during the forecast period. Revenue from the lab automation markets in North America and Western Europe are expected to collectively account for over 57.2% of the global lab automation market revenue in 2017. Key competitors in the lab automation market are Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcriptic, Inc.
Key Segments Covered in the Lab Automation Market Report
- Biochemistry Devices
- Molecular Devices
- Hematology Devices
- Immunology Devices
- Microbiology Devices
- Scheduling Software
- Momentum Integration Software
- Life Sciences Research and Development
- Drug Discovery
- Pharmaceutical Companies
- Hospitals and Diagnostic Centers
- Educational Institutions
- Contract Research Organizations (CROs)
- Research Institutes
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Australia & New Zealand
- Rest of APAC
- GCC Countries
- South Africa
- North Africa
- Rest of MEA