Laboratory Automation Systems Global Market To Reach Value Over $6 Billion In 2025

26 Nov, 2021

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The laboratory automation systems market consists of sales of laboratory automation systems and related services. The laboratory automation system speedup the processes such as, drug discovery, vaccine production, and others. Laboratory automation systems include clinical laboratory machines, equipment, and instruments, which analyze and automate many samples in the laboratory with minimal human intervention. The laboratory automation system market includes robots, conveyors, computer hardware & software, machine vision and others.

Global Laboratory Automation Systems Market Size And Drivers:

The global laboratory automation systems market is expected to grow from $4.85 billion in 2020 to $5.20 billion in 2021 at a compound annual growth rate (CAGR) of 7.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The laboratory automation systems market is expected to reach $6.40 billion in 2025 at a CAGR of 5.3%. Increased demand for microbiology testing and standardization of sample-collection devices for microbiology culture has driven the adoption of automated laboratory systems for culture-based laboratory testing in clinical microbiology.

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Trends In The Global Laboratory Automation Systems Market

The hospital laboratories are increasingly adopting RFID technology for laboratory automation systems due to its better productivity and product quality, reduced costs for technology, error reduction, faster delivery of samples and reduced human intervention. Radio Frequency Identification (RFID) technology is an automatic system of identification based on wireless communication, consisting of a tag and a reader which can communicate through radio frequency. RFID technology is similar to bar code technology, but is more beneficial as it can perform some additional functions and actions automatically without human intervention than bar code technology. A RFID system is equipped with a transponder, transceiver, and a data processing unit to meet enhanced identification and tracking requirements in hospital laboratories. Laboratory automated systems use RFID tags attached with patient samples for identification, and smart cards to store patient’s data under a work station which monitors the process in the laboratory. For instance, Mayo Clinic, a healthcare company, adopted RFID enabled laboratory automation systems in order to minimize errors by 70%, maximize efficiency and patient safety, and reduce specimen turnaround time by 50%.

Global Laboratory Automation Systems Market Segments:
The global laboratory automation systems market is further segmented –
By Equipment & Software: Automated Liquid Handling, Microplate Readers, Standalone Robots, Automated Storage And Retrieval Systems, Software And Informatics, Other Equipment
By Application: Drug Discovery, Clinical Diagnostics, Genomics Solutions, Proteomics Solutions, Other Applications
By End User: Biotechnology And Pharmaceutical Industries, Research Institutes, Hospitals And Private Labs, Academic Institutes
By Type: Modular Automation, Total Lab Automation
By Geography: The global laboratory automation system market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Laboratory Automation Systems Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides laboratory automation systems market overviews, analyzes and forecasts market size and growth for the global laboratory automation systems market, laboratory automation systems market share, laboratory automation systems market players, laboratory automation systems market segments and geographies, laboratory automation systems market’s leading competitors’ revenues, profiles and market shares. The laboratory automation systems market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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