NEW DELHI, January 25, 2022 /PRNewswire/ — The study, conducted by Astute Analytica, predicts phenomenal sales growth for the Global laboratory robotics market from US$270.7 million in 2021 to US$494 million to 2030 with a CAGR of 6.9% over the forecast period. Revenue growth for the global laboratory robotics market is attributed to increasing investments in research and development in the pharmaceutical industry and the growing demand for process automation for various industrial sectors. Laboratory automation facilitates the use of laboratory equipment for repetitive operations such as labeling tubes and verifying samples, as well as reducing and limiting the physical strain of manual tasks, saving money and laboratory space. However, high initial costs, limited adaptability, and a lack of institutions to address difficult or esoteric problems challenge the growth of the laboratory robotics industry.
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The biological laboratory robotics segment has the highest market share in 2021
The biological laboratory robotics segment is expected to have the highest market share in 2021 with an estimated 34.5%. The market growth is primarily attributed to the widespread adoption of robotics in various applications. Pharmaceutical companies use robots to move biological or chemical samples to synthesize new chemical substances or to test the pharmaceutical value of existing chemical substances.
The drug discovery segment has the highest market size of US$103.1 million in 2021
The drug discovery segment contributed the largest share of the global laboratory robotics market with 38.2% in 2021. The growth in pharmaceutical research and development (R&D) investment and spending coupled with increasing pressure on healthcare providers to reduce healthcare costs is expected to fuel the segment growth. However, the proteomics solutions segment is expected to grow at the fastest CAGR of 7.9% during the forecast period.
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The Environmental Testing Laboratories segment exhibits the fastest CAGR over the forecast period
Biotechnology and pharmaceutical companies are under increasing pressure to develop new products faster and launch new products in the pipeline, hence the market share of the biotechnology and pharmaceutical companies segment will be the highest in 2021. However, the Environmental Testing Laboratories segment is expected to project the CAGR of 8.4% at the global laboratory.
North America dominates the global laboratory robotics market in 2021
North America holds a major revenue share of 38.7% in the global laboratory robotics market in 2021. North America is the dominant region in the laboratory robotics market which is attributed to an increase in technological advancement and investments by the market leaders. With the increase in the number of players in this region, the market in this region is witnessing corporate collaborations and partnerships to achieve a technological breakthrough in the field of robotics, which also increases the focus on technology. Furthermore, the increased R&D activities of the biotechnology and pharmaceutical companies in this region as well as the increasing adoption of laboratory automation by most hospitals and clinical diagnostic laboratories are driving the growth of the laboratory robotics market in the region. Mexico is growing at the fastest CAGR of 7.1% over the forecast period.
Effects of COVID-19
Laboratories make extensive use of robots and automation to increase quality and production at a reasonable cost. The healthcare sector, including pharmaceutical and biotechnology companies, is demanding laboratory robotics to accelerate diagnostic and research activities for drug discovery and vaccination during the COVID-19 pandemic. In addition, since the spread of the virus, governments are forcing pharmaceutical and biotechnology companies to opt for robots over humans to avoid the spread of COVID-19 infection among professionals. Therefore, this ongoing pandemic has continued to increase the demand and supply of laboratory robotics worldwide.
A look at the competition
- Aurora Biomed Inc. is a Canada-based company that provides advanced technologies and solutions for various industries such as healthcare, pharmaceutical, veterinary, agriculture, food safety, environment and others.
- The Tecan Group is a Swiss company headquartered in Männedorf that offers high-tech solutions for various industries. The company offers a wide range of products and solutions including laboratory instruments and solutions, liquid handling solutions, mass spectrometry, biomarkers and others.
- Thermo Fisher Scientific has a broad product portfolio of laboratory reagents and consumables, analytical equipment and instruments, scientific software and services for research, discovery, analysis and manufacturing (including pharmaceutical and diagnostic products).
- Siemens is a technology company based in Germany and founded in 1847. It is a global powerhouse with a focus on electrification, automation and digitization. The company’s main businesses include Industry, Healthcare (Siemens Healthineers), Energy and Infrastructure & Cities.
- Yaskawa Electric Corporation is a Japan-based company providing high-tech products and services to various industries to meet customers’ needs. The company offers various products and solutions such as robotics, AC drivers, controllers, systems engineering, motion control and others. It offers services to various clients in various industries such as food, healthcare, pharmaceutical, industry 4.0, automotive and others.
- PerkinElmer Inc. was founded in 1937 and is headquartered in Waltham, United States. It has a wide range of products and solutions such as automated and fluid handling, consumables, informatics solutions, reagents, software, instruments and others.
Segmentation overview of the global laboratory market
The global laboratory robotics market is segmented by type, product, and region. These segments are further broken down to provide a holistic picture of the market.
The following are the various segments of the global laboratory market:-
- The segment by type of the global laboratory market is segmented into:
- Inexpensive laboratory robotics
- Biological laboratory robotics
- Pharmaceutical laboratory robotics
- Molecular Laboratory
- By application segments, the global laboratory market is segmented into:
- drug discovery
- Clinical Diagnosis
- Microbiological Solutions
- Genomic Solutions
- Proteomics Solutions
- By end-user segment, the global laboratory market is segmented into:
- Clinical Laboratories
- research laboratories
- biotechnology and pharmaceutical companies
- Hospitals and diagnostic laboratories
- research and academic institutes
- Forensic Laboratories
- environmental testing laboratories
- food and beverage industry
- The regional segment of the global laboratory market is divided into:
- North America
- The United Kingdom
- the rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of APAC
- middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- the rest of South America
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