Market Size of Lab Automation in Bioanalysis Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.10 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lab Automation in Bioanalysis Market Analysis
Lab automation in bioanalysis market is expected to grow at a CAGR of 6.1% over the forecast period. Biotechnology companies and research organizations have been investing massive amounts in R&D activities, primarily to develop new technologies that are expected to enhance their products. These companies are investing in proteomics, drug testing, high-throughput screening, and combinational chemistry to develop an environment-friendly biotechnology reagent. Hence, such developments are expected to contribute to the growth of the market over the forecast period.
- Laboratory automation transformed the realm of drug discovery over the years, primarily through two major influential factors, such as error reduction and cost-benefit. Additionally, automation transformed the traditional drug discovery process by making it feasible to identify many targets through the biotechnology revolution and numerous combinatorial technologies, which fueled compound collection.
- Vendors present in the market ecosystem focus on organic & inorganic growth strategies to stay competitive in the market. For example, Agilent Technologies has developed Seahorse XF HS Mini Analyzer, the newest addition to the Seahorse XF platform that delivers the best in Seahorse XF data quality, workflow, and user experience. Cell metabolism is a major driver of cell fate, function, and fitness.
- Moreover, according to ClinalTrials.gov, the total number of registered clinical studies as of March 2022 was 409,300. Such increased focus on research and development is expected to drive the need for enhancing laboratory capabilities across the world.
- With the outbreak of COVID-19, the lab automation in bioanalysis market will witness a significant increase in demand due to the increasing requirement for testing, tracing, and tracking of the virus and the fact that the diagnostic lab needs many capabilities to test up to thousands of samples per day is driving the lab automation in the market studied.
Lab Automation in Bioanalysis Industry Segmentation
Lab automation in bioanalysis involves the use of dedicated workstations and software to program instruments to automate routine laboratory procedures. The extent of automation required is dependent on the nature of the task to be performed, the need for processing, and the amount of human intervention. The Lab Automation in Bioanalysis Market is Segmented by Offering (Equipment, Software), Type of Analyzers (Biochemistry Analyzers, Immuno-Based Analyzers, Hematology Analyzers, Cell Counters, Coagulometers), and Geography.
| By Offering | |||||||
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| Software |
| By Type of Analyzers | |
| Biochemistry Analyzers | |
| Immuno-Based Analyzers | |
| Hematology Analyzers | |
| Cell Counters | |
| Coagulometers |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Lab Automation in Bioanalysis Market Size Summary
The lab automation in bioanalysis market is poised for significant growth, driven by substantial investments from biotechnology companies and research organizations in research and development activities. These investments are focused on advancing technologies in areas such as proteomics, drug testing, high-throughput screening, and combinatorial chemistry, which are expected to enhance the development of environmentally friendly biotechnology reagents. The automation of laboratory processes has revolutionized drug discovery by reducing errors and providing cost benefits, making it possible to identify numerous targets through the biotechnology revolution and combinatorial technologies. This transformation has led to increased demand for automated analyzers, which offer efficient and rapid analysis of biological samples with minimal human intervention, thereby saving time and improving convenience.
The market is characterized by strategic investments in research and development by key players, who are continuously introducing innovative products to maintain competitiveness. The COVID-19 pandemic has further accelerated demand for lab automation due to the heightened need for testing and tracking capabilities. The United States, with its robust clinical research infrastructure and concentration of pharmaceutical companies and contract research organizations, plays a pivotal role in the market's growth. Strict regulatory frameworks, coupled with the rising prevalence of diseases, have fueled the demand for automated solutions in diagnostic and research labs. Major vendors are expanding their presence and investing in product innovation, contributing to the market's consolidation and competitive landscape.
Lab Automation in Bioanalysis Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of Covid-19 on the Industry
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2. MARKET SEGMENTATION
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2.1 By Offering
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2.1.1 Equipment
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2.1.1.1 Automated Liquid Handlers
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2.1.1.2 Automated Plate Handlers
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2.1.1.3 Robotic Arms
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2.1.1.4 AS/RS
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2.1.1.5 Vision Systems
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2.1.2 Software
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2.2 By Type of Analyzers
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2.2.1 Biochemistry Analyzers
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2.2.2 Immuno-Based Analyzers
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2.2.3 Hematology Analyzers
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2.2.4 Cell Counters
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2.2.5 Coagulometers
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2.3 By Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Latin America
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2.3.5 Middle East and Africa
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Lab Automation in Bioanalysis Market Size FAQs
What is the current Lab Automation in Bioanalysis Market size?
The Lab Automation in Bioanalysis Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Lab Automation in Bioanalysis Market?
Thermo Fisher Scientific, Agilent Technologies, Hamilton Company, Siemens Healthineers AG and Becton Dickinson & Co. are the major companies operating in the Lab Automation in Bioanalysis Market.
