Global Laboratory Automation Market to Reach USD 29.2 Billion by 2023

By 2023, the global market will reach USD 29.2 billion, up from USD 21.1 billion in 2018, indicating a compound annual growth rate (CAGR) of 6.8 percent. Laboratory automation is the application of technology developments in software, engineering and process analysis to help biological and chemical laboratories operate without having to rely completely on human labor and to enable functions that are unfeasible to accomplish with human labor alone. Top leaders in the bioremediation market include: Roche (RHHBY), Becton Dickinson (BDX), and Tecan (TECN).

Report highlights

• Market segment analysis.The high-throughput screening sector will see the most growth, from about USD 10 billion in 2018 to about USD 15 billion in 2023 with a CAGR of 8.3 percent, thanks to fields such as academic research moving toward using automated techniques that were traditionally used in fields such as pharmaceuticals.
• Market industry analysis.The food and agriculture laboratory automation sector will grow from USD 1.6 billion in 2018 to USD 2.0 billion in 2023, with a CAGR of 5.1 percent. While not a heavy user of laboratory automation, food and agriculture companies are embracing this sector and developing new tools and techniques to assist laboratory automation in this area.
• Market trend.Using development techniques familiar to the world of software development, laboratories have begun sharing protocols and equipment development using the open-source philosophy. As laboratories become comfortable with this approach, this style of development will become commonplace and drive market growth.

“Growth will be driven by novel technologies, including 3D bioprinting and organoids, as well as by novel applications of existing technologies such as open-source automation and the evolution of total laboratory automation into new areas such as academic research and environmental laboratories. These advances will allow laboratories to perform work in innovative ways, making them more productive and useful. The technologies will also change the structure of workforces in biological and chemical laboratories,” said BCC Research analyst Todd Graham.

Liquid handling and sample preparation is slow-growing sector

While the global laboratory automation market is growing at a rapid rate, there is one sector that is seeing slow growth: liquid handling and sample preparation, which will grow from USD 8.6 billion in 2018 to USD 10.5 billion in 2023, with a CAGR of 4.2 percent. Slowing this sector’s growth is its size, relative maturity and changes in laboratory structure, which will limit growth opportunities, as more complex laboratories are limiting the amount of purchases of relatively simple liquid handling equipment. – BCC Research