(EMAILWIRE.COM, June 27, 2019 ) “The global lab automation market is projected to grow at a CAGR of 5.1%.”

The lab automation market is expected to reach USD 5.20 billion by 2022 from an estimated USD 4.06 billion in 2017, at a CAGR of 5.1%. Factors such as process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large workforce demand and supply gap are likely to drive the growth of this market. In addition, lab automation offers enhanced productivity and reduced costs, better personnel safety, and small volumes of samples and reagents. However, high cost is limiting the adoption of lab automation among small and medium-sized labs which is likely to restrict the market growth.

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“The software segment is expected to grow at the highest CAGR during the forecast period.”

On the basis of equipment and software, the lab automation market is segmented into automated workstations, off-the-shelf workcells, robotic systems, automated storage and retrieval system, software, and other equipment. The software segment is expected to witness the highest growth during the forecast period. The growth of this segment can be attributed to the rising need for efficient data storage, analysis, and sharing methods.

“The genomic solutions segment to grow at the highest rate during the forecast period.”

Based on application, the lab automation market is segmented into drug discovery, clinical diagnostics, genomics solutions, proteomics solutions, microbiology, and other applications. The genomics solutions segment is expected to grow at the highest CAGR during the forecast period. The rising need for high-throughput genomics in research labs and increase in genetic testing in diagnostic labs along, with better accuracy and reproducibility is contributing to the growth of lab automation solutions in genomics.

“APAC to witness the highest growth during the forecast period.”

The APAC region is expected to register the highest CAGR during the forecast period. A growing economy, increasing healthcare investments which lead to increased research activities and adoption of automated systems in clinical diagnostics and drug discovery, large population pool, improving public health awareness, and the rising demand for standardization and accreditation in laboratory practices are key market drivers in Asia Pacific. Process automation, miniaturization, and incorporation of robotics in lab automation workflows and the expansion of product distribution networks in APAC are the ongoing trends in the global lab automation market.

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