North America is projected to account for the largest share of the global lab automation market

Northrook, IL -- (SBWire) -- 03/12/2020 --Lab automation is defined as the use of technology to streamline or substitute manual manipulation of equipment and processes. The degree of automation that any lab requires depends on its workflow. While an academic research lab may prefer to use only some instruments in order to increase productivity and reduce the time spent on a tedious task, a drug discovery unit in a pharmaceutical company will perhaps need to automate all of its research phases.

The global lab automation market is expected to reach USD 5.20 Billion by 2022 from USD 4.06 Billion in 2017, at a CAGR of 5.1%.

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Factors such as process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large workforce demand and supply gap are likely to drive the growth of this market. In addition, lab automation offers enhanced productivity and reduced costs, better personnel safety, and small volumes of samples and reagents.

Based on equipment and software, the market is segmented into automated workstations, off-the-shelf workcells, robotic systems, automated storage and retrieval system, software, and other equipment. In 2017, the automated workstation segment is expected to account for the largest share of the lab automation market. The high demand for automation in liquid handling is the key factor driving market growth in this segment. Automated workstations offer advantages such as enhanced accuracy, and reduced time and cost.

Based on end user, the lab automation market is segmented into pharmaceutical and biotechnology companies, hospitals and diagnostic labs, and research and academic institute. In 2017, the biotechnology & pharmaceutical companies segment is expected to account for the largest share of the lab automation market. Factors such as increasing product intricacy, pricing pressure, high cost incurred by errors, and need for consistency in quality are driving biotechnology and pharmaceutical companies to adopt automation and accelerate the drug discovery process.

Geographical Region Covered

Lab automation market is segmented into North America, Europe, Asia Pacific, and RoW. In 2017, North America is projected to account for the largest share of the global lab automation market. The demand for lab automation in North America is driven by the increasing number of investments in research and innovation by the government, large presence of pharmaceutical R&D labs in this region, and lab automation adoption by hospitals and clinical diagnostic labs due to increasing volume of tests.

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Leading Companies

Tecan (Switzerland) is expected to dominate the lab automation market. Some of the other players competing in this market are PerkinElmer (US), Danaher (Beckman Coulter & Molecular Devices) (US), Thermo Fisher (US), Agilent Technologies (US), Hamilton Robotics (US), Abbot Diagnostics (US), Eppendorf (Germany), QIAGEN (Netherlands), Roche Diagnostics (Switzerland), and Siemens Healthcare (Germany).