Lab Automation in Bioanalysis Market Size (2024 - 2029)

The lab automation in bioanalysis market is anticipated to experience growth driven by substantial investments from biotechnology companies and research organizations in R&D activities aimed at developing advanced technologies. These developments are enhancing products and contributing to the market's expansion. The transformation of drug discovery processes through automation, which offers error reduction and cost benefits, is a key factor in this growth. The COVID-19 pandemic has further accelerated demand for lab automation due to the increased need for efficient testing and diagnostic capabilities.

Market Size of Lab Automation in Bioanalysis Industry

lab automation in bioanalysis market
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

Lab Automation in Bioanalysis Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
Equipment
Automated Liquid Handlers
Automated Plate Handlers
Robotic Arms
AS/RS
Vision Systems
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
Need A Different Region Or Segment?
Customize Now

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.

Explore More

Lab Automation in Bioanalysis Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of Impact of Covid-19 on the Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Offering

      1. 2.1.1 Equipment

        1. 2.1.1.1 Automated Liquid Handlers

        2. 2.1.1.2 Automated Plate Handlers

        3. 2.1.1.3 Robotic Arms

        4. 2.1.1.4 AS/RS

        5. 2.1.1.5 Vision Systems

      2. 2.1.2 Software

    2. 2.2 By Type of Analyzers

      1. 2.2.1 Biochemistry Analyzers

      2. 2.2.2 Immuno-Based Analyzers

      3. 2.2.3 Hematology Analyzers

      4. 2.2.4 Cell Counters

      5. 2.2.5 Coagulometers

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Lab Automation in Bioanalysis Market Size FAQs

The Lab Automation in Bioanalysis Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)

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.

Lab Automation in Bioanalysis Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)