Laboratory Automation Market Forecast By Top Leading Players | Thermo Fisher Scientific, Inc.

The Global Laboratory Automation Market valued at $4.5 billion (2021) is set to witness a growth rate of 8% in the next 5 years. The Global Laboratory Automation Market is primarily driven by the integration of automation, AI, and machine learning (ML) in laboratory workflows, the transformational advantages of laboratory automation, technical developments in automation technologies, and rising healthcare spending.

Automation has been essential in laboratories all around the globe during the past decade, with machines replacing the role of manual processes in every area of science and technology. The laboratory automation market continues to witness several new product launches.

For instance,

In March 2022, Biosero, Inc., a developer of laboratory automation solutions expanded its laboratory automation capabilities with the launch of several new products and features in the company’s Green Button Go software suite. The software allows scientists to automate workflows ranging from a single workstation to operations that span multiple labs.

Automation, AI, and Machine Learning (ML) Set to Bolster the Laboratory Automation Market

The integration of AI and automation into laboratory workflows not only eliminates several manual lab testing processes, but also improves delivery and resource usage by streamlining logistics and accessioning. The automation of processes, workflows, and data enables laboratories to reduce downtime, increase stability and optimize efficiency.

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Machine learning is also expected to play a critical role in developing effective molecular diagnostics. The key to simplifying and automating the R&D process will be machine learning-based diagnostics, which will allow scientists to respond quickly to testing needs.

Citing these potential benefits, laboratories across the globe are leveraging AI/ML to automate workflows, triage and prioritize samples, distinguish between conditions, authenticate results, and perform quality checks.

“The advantage of automation is that instruments are more powerful, can aggregate data more quickly, and can find analytical insights that otherwise wouldn’t be found.” - CEO, Diagnostics Technology Company, United States

Skill Gap in Technology, Shortage of Skilled and Trained Healthcare Professionals and Sluggish Adoption of Automation by Small & Medium-Sized Laboratories - Major Deterrents for the Laboratory Automation Market

The lack of skilled and trained healthcare professionals for operating the advanced laboratory equipment, which requires specialized skill sets, as well as the skill gap in handling state-of-the-art software designed to automate the machinery performing laboratory tasks present a significant challenge to embracing laboratory automation.

Small and medium-sized laboratories have been slow to adopt laboratory automation solutions because of the high maintenance and service costs associated with laboratory informatics solutions.

Competitive Landscape Analysis of Laboratory Automation Market

The laboratory automation market is marked by the presence of key players such as Thermo Fisher Scientific, Inc., PerkinElmer Inc., Agilent Technologies, Danaher Corporation, Gilson Inc., BMG Labtech, Aurora Biomed, and others.

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