Laboratory Robotics Market Forecasts to 2028 - Global Analysis By Product (Automated Workstations, Software, Robotic Systems and Automated Storage and Retreival Systems), Application (Drug Discovery, Clinical Diagnostics, Genomics Solutions, Proteomics Solutions, Microbiology Solutions, Research Laboratory, Biotechnology & Pharmaceutical Industries, Microbiology, Food & Beverage Industry and Hospitals and Diagnostic Laboratories) and Geography
According to Stratistics MRC, the Global Laboratory Robotics Market is accounted for $219.62 million in 2022 and is expected to reach $362.68 million by 2028 growing at a CAGR of 8.72% during the forecast period. The use of robotics technology to conduct scientific experiments and research in a secure environment without the intervention of human hands is the general concept of laboratory robotics. Companies are commencing to adopt robotic technologies for essential process applications due to the increasing need to safeguard the safety of manual workers and the implementation of strict regulatory norms in laboratories.
Safety of both humans and property to drive the market
Chemicals and other substances that are toxic when they come into direct contact with the human body are used in laboratory experiments. To prevent these compounds, a number of precautionary measures are being used in the labs. There have been various cases where experimental trials have harmed researchers. In some risky situations, they can even result in death.
Slow adoption of automation among small and medium-sized laboratories
Budget restrictions prevent many small and medium-sized laboratories from adopting automation. Another significant barrier to adoption of laboratory informatics solutions is their high maintenance and service expenses. Industry analysts claim that the maintenance costs of IT solutions exceed the cost of the product. In addition, a lack of evidence about the cost-effectiveness of automation solutions for small and medium-sized laboratories, as well as low risk-taking capacity, are limiting the growth of the lab robotics market.
Improving healthcare infrastructure across emerging countries
During the projection period, manufacturers and distributors of lab automation products are estimated to significantly benefit from emerging markets. Increased sales of lab automation products are being driven by an increase in the demand for clinical diagnostic processes. Furthermore, major product manufacturers are expanding their distribution networks and manufacturing capacities to increase their penetration in emerging markets.
Limited feasibility with technology integration in analytical labs
The obstacles in transferring data and communication standards between automated instruments from two distinct manufacturers and the evolving nature of laboratory work require automated systems with higher flexibility and interface capabilities. A significant difficulty for providers of lab automation solutions is producing products that are compatible with other systems in a lab.
The COVID-19 pandemic has increased pressure on pharma and clinical labs while advancing drug discovery and research activities. Shortening TAT has acquired increased importance and is trending in robots, microplate readers, and automated liquid handlers. Moreover, the pandemic has caused hospitals and health systems to endure declining revenues, margins, and investments in automation and technology, resulting in long-term market effects for lab automation.
The drug discovery segment is expected to be the largest during the forecast period
Due to the substantial involvement of government and private agencies in the development of novel drugs in the pharmaceutical industry, the drug discovery segment of the worldwide laboratory robotics market is anticipated to be the largest. Furthermore, because of their extensive use in the industry to accurately perform a variety of tasks, this is shaping the market for laboratory robotics. Additionally, it is expected that industry growth would be prompted by the increasing pressure on healthcare providers to reduce healthcare costs.
The biotechnology & pharmaceutical industries segment is expected to have the highest CAGR during the forecast period
Owing to the high prevalence of pharmaceutical companies and the increased use of robotics and laboratory automation, the biotechnology & pharmaceutical industries are expected to grow. Further boosting the market growth in the laboratory robots has expanded from assisting product manufacturing & quality control in laboratory applications to R&D within pharmaceutical firms.
Region with largest share:
Due to market leaders' investments and rising technological breakthroughs, the market for laboratory robotics in North America is growing at a robust pace in the globe. Additionally, the market in this region is witnessing business partnerships and collaborations to achieve a technological advancement in the field of robotics, which is also strengthening the focus on technology.
Region with highest CAGR:
Increased demand for laboratory automation systems, an increase in the number of pharmaceutical companies, and increased awareness of advanced laboratory automation systems contributes to the market's expansion in the Asia Pacific region. Additionally, factors such as the development of the R&D sector, the growth of hospitals with cutting-edge medical equipment, the implementation of healthcare reforms, and improvements in the healthcare infrastructure all assist in the market's rise.
Key players in the market
Some of the key players in Laboratory Robotics market include Tecan Group, Beckman Coulter Inc, Peak Analysis & Automation (PAA), Biomérieux SA, Abbott Laboratories, Thermo Fisher Scientific, PerkinElmer Inc., Hudson Robotics Inc., Hamilton Company, Universal Robotics and Anton Paar GmbH
In May 2018, Thermofisher Scientific, a leading company in the laboratory robotics market, announced that it is collaborating with Astex Pharmaceuticals, a pioneer in innovative drug discovery and development. Astex Pharmaceuticals picked Thermo Fisher Scientific Glacios Cryo-Transmission Electron Microscope (Cryo-TEM) to help them in drug discovery and development program.
• Automated Workstations
• Robotic Systems
• Automated Storage and Retreival Systems
• Drug Discovery
• Clinical Diagnostics
• Genomics Solutions
• Proteomics Solutions
• Microbiology Solutions
• Research Laboratory
• Biotechnology & Pharmaceutical industries
• Food & Beverage Industry
• Hospitals and Diagnostic Laboratories
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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