DUBLIN, Feb. 20, 2023 /PRNewswire/ — The “Global Laboratory Robotics Market, By Type, By Application, By End User, Estimation & Forecast, 2017-2030” report has been added to ResearchAndMarkets.com’s offering.
The global laboratory robotics market held a market value of USD 270.7 million in 2021 and is estimated to reach USD 494 million by the year 2027. The market is projected to list a CAGR of 6.9% during the forecast period.
Using robotics technology to conduct scientific research and experimentation in a secure setting without the intrusion of human hands is the general definition of laboratory robotics. Businesses have started adopting robotic technology for crucial process applications due to the growing requirement to safeguard the safety of manual workers and the implementation of strict regulatory norms in laboratories. Robots are also very efficient and maintain accuracy and precision.
Robotics adoption is being fueled by these forces in laboratories all around the world. The expansion of the market under study is being constrained by the high costs of robotic equipment as well as the low importance given to automation in small to medium-sized labs.
The market will expand as a result of these and other factors, including increased R&D activities, rising lab automation technology usage, and an increase in the number of novel product releases.
As businesses started focusing on accelerating the diagnosis and research activities for successful drug discovery, the demand for laboratory robotics gradually increased to a high. For instance, UVD Robot unveiled a range of fully autonomous ultraviolet (UV) disinfection robots that can efficiently disinfect places like hospitals, airports, schools, and other places within minutes. On the other hand, limitations on adaptability and the high initial cost of laboratory robots may restrain market expansion.
Surging investments for R&D in pharmaceutical industry
Due to the huge investments that industry titans are making in R&D, the global market for laboratory robotics is predicted to increase favourably over the next years. For instance, in October 2022, Tata Consultancy Services (TCS) in India signed a research and engineering cooperation agreement with the National Robotarium, the largest AI and robotics research facility in the UK. The collaboration will enable TCS to collaborate closely with the new centre on innovative ideas.
Growing demand for process automation for various industrial verticals
Laboratory robots simplify repetitious tasks like labelling tubes and checking samples. In addition to reducing the physical strain on the staff, it also saves the lab space and money. Scientists at the University of Central Florida (UCF) stated their plans to use artificial intelligence (AI)-driven drug screening to speed up the creation of life-saving medications in September 2022. The method can obtain promising medication candidates with 97% accuracy. Therefore, the market for laboratory robotics will expand due to the increasing use of technology in drug research.
The global laboratory robotics market is segmented into type, application, and end user.
- Low-Cost Laboratory Robotics
- Biological Laboratory Robotics
- Pharmaceutical Laboratory Robotics
- Molecular Laboratory
The biological laboratory robotics segment is estimated to hold an opportunity of more than USD 65 million from 2022 to 2030. The pharmaceutical laboratory robotics segment is likely to hold the highest CAGR of 8.1% over the forecast period.
- Drug Discovery
- Clinical Diagnosis
- Microbiology Solutions
- Genomics Solutions
- Proteomics Solutions
The drug discovery segment held more than 35% of the market share in 2021. The clinical diagnosis segment is projected to cross the mark of USD 100 million by 2025 in terms of revenue.
By End User
- 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 clinical laboratories segment is projected to holds an opportunity of more than USD 35 million from 2022 to 2030. The biotechnology and pharmaceutical companies segment held the largest market share of close to 30% in 2021.
By region, the global laboratory robotics market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The North American laboratory robotics market held the largest market share of more than 35% in 2021, with a revenue of USD 7,461.1 million. The North American market is estimated to grow fastest with a CAGR of more than 7.5%.
The top five players in the market held around 60% market share. The companies operating in the market are thriving to sustain in the industry. For instance, the PerkinElmer generated 38% of its revenue from the Americas region. In addition to that, the life sciences business of Tecan Group amounted to 56% of its generated revenue. In addition to that, in May 2022, Thermo Fisher Scientific and Charles River Laboratories, Inc. have joined the Multiply Labs-founded robotic cell therapy manufacturing consortium. Cytiva and UCSF were the first members. Members of the Consortium are highly skilled in a variety of cell therapy manufacturing methods. The multidisciplinary Consortium’s objective is to create and validate an industrial-scale robotic manufacturing system that complies with cGMP standards and can produce gene-modified cell treatments.
The global laboratory robotics market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global laboratory robotics market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various components used in the manufacturing of laboratory robotics
- Manufacturing Cost Analysis: Cost-share of various components in laboratory robotics tools
The global laboratory robotics market report answers questions such as:
- What is the market size and forecast of the global laboratory robotics market?
- What are the inhibiting factors and impact of COVID-19 on the global laboratory robotics market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global laboratory robotics market?
- What is the competitive strategic window for opportunities in the global laboratory robotics market?
- What are the technology trends and regulatory frameworks in the global laboratory robotics market?
- What is the market share of the leading players in the global laboratory robotics market?
- What modes and strategic moves are considered favorable for entering the global laboratory robotics market?
Key Topics Covered:
Chapter 1. Research Frameworks
Chapter 2. Executive Summary: Global Laboratory Robotics Market
Chapter 3. Global Laboratory Robotics Market Overview
Chapter 4. Global Laboratory Robotics Market Analysis, By Type
Chapter 5. Global Laboratory Robotics Market Analysis, By Applications
Chapter 6. Global Laboratory Robotics Market Analysis, By End Users
Chapter 7. Global Laboratory Robotics Market Analysis, By Region/Country
Chapter 8. North America Laboratory Robotics Market Analysis
Chapter 9. Europe Laboratory Robotics Market Analysis
Chapter 10. Asia Pacific Laboratory Robotics Market Analysis
Chapter 11. Middle East & Africa Laboratory Robotics Market Analysis
Chapter 12. South America Laboratory Robotics Market Analysis
Chapter 13. Company Profile
A selection of companies mentioned in this report includes
- AB Controls
- Anton Paar
- Aurora Biomed
- Chemspeed Technologies
- Cleveland Automation Engineering
- Hamilton Robotics
- HighRes Biosolutions
- Hudson Robotics
- PerkinElmer Inc.
- Protedyne (LabCorp)
- Siemens AG
- ST Robotics
- Tecan Group
For more information about this report visit https://www.researchandmarkets.com/r/qg8v7w-laboratory?w=5
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