Global Lab Automation in Bioanalysis Market - Segmented by Equipment (Automated Liquid Handlers, Automated Plate Handlers, Robotic Arms, AS/RS, Software, Analyzers) and Region - Growth, Trends and Forecast (2018 - 2023)
The global lab automation in bioanalysis market is expected to grow at a CAGR of 3.69% over the forecast period (2018 - 2023). Lab automation in bioanalysis involves the use of dedicated work-stations and software to program instruments in order 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. Lab automation has transformed the bioanalysis space by steadily replacing semi-automatic and manual methods. Initially, they were found to be beneficial in sterile environments, where human error was greatly reduced with time. This was followed by success in automating routine laboratory processes, like testing, screening, etc. Automation tools are able to process concurrent requests in real time and are responsible for a significant improvement in productivity and throughput. They have greatly helped clinical and pre-clinical studies by developing, optimizing, and streamlining the workflow, furthermore, researchers are able to achieve greater efficiency within a shorter time span. North America has been the biggest contributor to the growth of the market due to high levels of health awareness, the presence of major R&D firms, and the emphasis on optimizing workflows by minimizing human intervention.
Technological Innovations to Increased Market Growth
Bioanalysis focuses on generating quantitative data for drug discovery, diagnostics, and research teams. These disciplines have been greatly aided by scientific and technological advances that have led to greater reliability and throughput. Automation tools used in bioanalysis are required to be simple, yet intuitive to use, device miniaturization has been a gradual trend in this regard. These new class of devices are rugged, fault-tolerant, reliable, and are able to connect with other systems to report data and interact with management systems for generating sample trends. Robotic handlers have transformed into general purpose devices that offer a greater range of features for full- and semi-automation of tasks in wet chemistry automation. Lab automation tools have become a regular fixture in diagnostics and research labs. These tools can effectively perform mundane and specialized tasks with minimal human intervention. Drug discovery agencies are making use of robotic handlers and automated software to reduce the risk of error and to streamline their workflows in order to achieve greater throughput.
Robotic Arms the Fastest Growing Equipment Segment
Robotic arms in lab automation are used for chemical analysis. Pharmaceutical companies are employing robots to move samples around the workspace for diagnosing chemical entities from the existing sample. Robotic arms are used for sample handling coupled with new technologies to eliminate errors.
The pharmaceutical industry is making the most use of robotic arms, as the synthesizing of samples with structural analysis can be done automatically. Robotic arms are used in applications like biological & combinatorial chemistry for sample diagnosis, with automation increasing the market’s standards.
North America Holds the Largest Market Share
A rise in the number of global clinical and pre-clinical studies has made the need for speed in the analysis of samples imperative, making automation as one of the key components contributing towards the growth of the market. Various aspects, such as growing reproducibility & accuracy, miniaturization in the process, progressing drug discovery, clinical diagnostics, and the large gap in workforce demand and supply, have driven the growth of the market across the globe. Strict regulations by the United States government and the FDA, along with the growing demand in the diagnostic market and the increasing usage of the discovery & research labs, owing to the rising presence of various diseases such as cardiovascular diseases and neurological diseases in the region, has fuelled the growth of the market. The United States dominates the North American market and is the major revenue contributor in the region.
Key Developments in the Market