The Worldwide Laboratory Robotics Market is Expected to Reach $ 494 Million by 2030 – Astute Analytica

CHICAGO, UNITED STATES, October 10, 2022 /EINPresswire.com/ -- The global laboratory robotics market size was US$ 270.7 million in 2021. The global laboratory robotics market is expected to grow to US$ 494 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period, i.e., 2022-2030.

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The global laboratory robotics market is expected to witness positive growth in the coming years as industry giants are pouring high investments in R&D. For instance, Tata Consultancy Services (TCS) in India inked an engineering and research partnership with the largest AI and robotics research centre in the UK, the National Robotarium, on 5th October 2022. The partnership will help TCS to work closely with the new centre on new innovations.

Laboratory robotics facilitate redundant operations like labelling tubes and sample verifications. It helps lower and limit physical strain on the workforce and also cuts down the money and space in the lab. On the flip side, factors like the high initial cost of laboratory robots and restricted adaptability may limit the growth of the market.

Based on Type, the biological laboratory robotics segment is leading
The biological laboratory robotics segment is maintaining the lead with the highest market share of 34.5%, owing to the fast-paced deployment of robotics by pharmaceutical companies. In the pharmaceutical segment, robots are deployed to carry out various tasks like shifting biological or chemical samples and testing the pharmaceutical value of chemical matter.

Based on Application, the drug discovery segment leads in 2021, with a market value of US$ 103.1 million.
The drug discovery segment leads with a share of 38.2% in the global laboratory robotics market as government is private bodies are involved highly in the development of novel drugs in the pharmaceuticals sector. As a result, it is shaping the scope of the laboratory robotics market as they are widely being used in the industry to carry out various tasks with accuracy. Further, the rising pressure on healthcare providers aimed at deducting healthcare costs is expected to prompt industry growth. Further, the proteomics solutions segment is expected to exhibit a CAGR of 7.9% during the forecast period. Recently, in September 2022, scientists at the University of Central Florida (UCF) announced their plans to accelerate the process of the development of life-saving drugs through artificial intelligence (AI)-centred drug screening process. The technology can offer 97% accuracy in obtaining favourable drug candidates. Therefore, the growing use of technology in drug development will boost the growth of the laboratory robotics market.

Based on End-User, the environmental testing laboratories segment grows at the highest growth rate.
The pressure on biotechnology and pharmaceutical companies is stimulating as a result of the growing demand for new products. Therefore, the environmental testing laboratories segment is expected to grow at a fast pace by registering a CAGR of 8.4% in the coming years.

North America to lead in the global laboratory robotics market
North America is maintaining its lead by holding the lion's share of 38.7% in the laboratory robotics market. The growth of the North America laboratory testing market is due to the reasons like growing technological advancements and rising investments by the industry giants. Moreover, companies present in the region are continuously involved in strategic partnerships and acquisitions with the aim to extend their offerings to a large number of people. For instance, Thermo Fisher Scientific made headlines in April 2021 as the firm announced the expand its pharma presence with the acquisition of PPD. PPD, which serves in the nearly $50 billion clinical research services industry and has a geographical presence in over 50 countries, can help Thermo Fisher Scientific expand its foothold and customer base. Other factors like increased R&D activities, rising adoption of lab automation technologies, and a growing number of innovative product launches will fuel the growth of the market during the analysis period. In North America, Mexico will grow the fastest, at a compound annual growth rate of 7.1% during the forecast period.

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COVID-19 Impact Analysis
The deployment of robotics shot up as a result of the COVID-19 pandemic and the threat imposed by the virus. Further, the pandemic ultimately resulted in a shortage of workforce. The demand for laboratory robotics slowly gained a peak as the companies began working on amplifying the diagnosis and research activities for effective drug discovery. 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. Therefore, realizing the opportunities and benefits of laboratory robotics, the demand for them increased.

A glance at the competitors
Aurora Biomed Inc., a Canada-based company, is serving the global scientific research community with its advanced laboratory solutions for many years. The firm developed the first-ever non-radioactive, label-free technology that offers the high throughput screening of ion channels. The firm's vast range of products includes automated liquid handling systems, elemental analysis instrumentation, ion channel research, customization, OEM robotics, etc.

Tecan Group aims to amplify the discovery of medicine and life sciences, helping through its high-tech solutions. The firm's product range includes laboratory instruments and solutions, biomarkers liquid handling solutions, mass spectrometry, and others.

Thermo Fisher Scientific offers a wide range of science software and services, laboratory reagents and consumables, analytical equipment, and instruments.
Siemens, a Germany-based technology company, has been a significant pioneer in boosting digitalization in the healthcare sector. The healthcare automation line of the company offers advanced robotic solutions for laboratories.

Yaskawa Electric Corporation is widely known for its advanced high-tech products, including robotics, AC drivers, controllers, system engineering, motion control, etc., for the healthcare and pharmaceuticals industry.

PerkinElmer Inc. company, a global provider of end-to-end solutions based in the United States, has a geographical presence in over 190 countries. The firm's product portfolio includes liquid handling, reagents, software, consumables, informatics solutions, instruments, etc.

Segmentation Overview of the Global Laboratories Market
The Global Laboratories Robotics Market is segmented based on type, product, and region. These segments are further subdivided to get a holistic picture of the market. Following are the different segments of the Global Laboratories Robotics Market: -

By Type Segment of the Global Laboratories Robotics Market is Sub-Segmented into:
Low-Cost Laboratory Robotics
Biological Laboratory Robotics
Pharmaceutical Laboratory Robotics
Molecular Laboratory
Others

By Application Segment of the Global Laboratories Robotics Market is Sub-Segmented into:
Drug Discovery
Clinical Diagnosis
Microbiology Solutions
Genomics Solutions
Proteomics Solutions

By End User Segment of the Global Laboratories Robotics Market is Sub-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

By Region Segment of the Global Laboratories Robotics Market is Sub-Segmented into:
North America
The US
Canada
Mexico

Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of APAC

Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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