How is the Lab Automation In Drug Discovery Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Lab Automation In Drug Discovery Market Over the Coming Decade?
In the past few years, there has been a considerable expansion in the size of the lab automation in drug discovery market. It is projected to increase from a value of $6.47 billion in 2024 to $6.81 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.3%. The driving forces behind this strong growth trend during the historic period are rising complexity in drug discovery, a heightened demand for cost and efficiency improvements, an increase in the requirement for high throughput screening, escalating labor expenses, and an urgency to hasten the timelines for developing drugs.
The market for lab automation in drug discovery is set to witness robust expansion in the coming years, with projections indicating a growth to $8.4 billion by 2029 at a compound annual growth rate (CAGR) of 5.4%. This projected growth during the forecast period is largely driven by factors such as the broadening drug pipelines of pharmaceutical firms, the increasing prevalence of personalized and precision medicine, a heightened focus on rare diseases and orphan drugs, demand for remote and decentralized clinical trials, and the advent of microfluidics and lab-on-a-chip technologies. Key trends predicted for this forecasted period consist of the widespread adoption of modular and customizable automation solutions, the shift to cloud-based platforms for managing data and fostering collaboration, the rise in automation in emerging markets, the emergence of virtual drug discovery firms availing the benefits of automation and digital tech, along with the development of standardized protocols and interoperable systems.
What Combination of Drivers Is Leading to Accelerated Growth in the lab automation in drug discovery Market?
The surging necessity for precision medicine is anticipated to stimulate the expansion of lab automation in the drug discovery market in the future. Precision medicine or personalized medicine represents a treatment and prevention approach in medicine that considers individual differences in genes, environment, and lifestyle. Lab automation enhances research, boosts experimental repeatability, and heightens the efficiency of precision medicine and drug discovery methods, consequently resulting in the development of more apt medicines and diagnoses for individual patients. For example, in October 2022, the Personalized Medicine Coalition (PMC), an American entity advocating for the understanding and utilization of personalized medicine, reported that more than 75,000 genetic testing products and 300 personalized medicines will be available for those suffering from various types of cancer, uncommon genetic diseases, and a spectrum of chronic and infectious diseases. Hence, the escalating demand for precision medicine is propelling the advancement of lab automation in the drug discovery market.
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What Are the Major Players Making an Impact in the Lab Automation In Drug Discovery Market’s Growth?
Major companies operating in the lab automation in drug discovery market are:
• Thermo Fisher Scientific Inc._x000D_
• Abbott Diagnostics_x000D_
• Roche Holdings Inc._x000D_
• Beckman Coulter_x000D_
• Siemens Healthineers_x000D_
Which Upcoming Trends Are Set to Influence the Lab Automation In Drug Discovery Market’s Path Forward?
Principal businesses involved in lab automation for the drug discovery sector are intensifying their efforts in creating innovative solutions like the rapid idea-to-data solutions. This term refers to a simplified procedure or platform that swiftly transforms concepts or ideas into actionable data-driven results or insights. For example, in April 2022, Strateos Inc., a biotech firm based in the US, introduced a rapid idea-to-data solution specifically intended for small molecule discovery on its cloud lab automation-as-a-service platform. This platform is a lab automation utility specifically tailored for small molecule discovery in the area of drug development. The flexible, on-demand Strateos Cloud Lab Automation-as-a-Service platform incorporates interlinked robotic automation with 23 workcells and several instruments. It eases the process of early lead generation up to lead optimization, controlled by a software framework that lets users design desired compounds in the cloud. These designed compounds can then be automatically constructed and tested through various techniques like cell-based, biochemical, and structured-activity relationship (SAR) assessments.
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How Are Market Segments in the Lab Automation In Drug Discovery Industry Positioned for Long-Term Growth?
The lab automation in drug discovery market covered in this report is segmented –
1) By Type: Automated Liquid Handlers, Automated Plate Handlers, Robotic Arms, Automated Storage And Retrieval Systems, Other Types
2) By Component: Instruments, Software, Services
3) By Application: High-Throughput Screening, Compound Management, Sample Preparation, Other Applications
4) By End-User: Biotechnology And Pharmaceutical Industries, Research Institutes, Other End-Users
Subsegments:
1) By Automated Liquid Handlers: Automated Liquid Handlers, Multi-Channel Pipettes, Reagent Dispensing Systems, Automated Titrators, Liquid Handling Workstations
2) By Automated Plate Handlers: Automated Plate Handlers, Microplate Stacker Systems, Plate Transportation Systems, Plate Sorting Systems
3) By Robotic Arms: Robotic Arms, Cartesian Robots, SCARA Robots, Articulated Robots, Delta Robots
4) By Automated Storage And Retrieval Systems (ASRS): Automated Storage and Retrieval Systems (ASRS), Vertical Lift Modules (VLM), Automated Guided Vehicles (AGVs), Carousel-Based Systems, High-Density Storage Systems
5) By Other Types: Automated Sample Preparation Systems, Laboratory Information Management Systems (LIMS), Microarray Processors, Automated Screening Systems
What Regions Are Steering Growth in the Lab Automation In Drug Discovery Sector?
North America was the largest region in the lab automation in drug discovery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab automation in drug discovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Lab Automation In Drug Discovery Market Classified and Defined in Market Analysis?
Lab automation in drug discovery refers to the use of advanced technologies and robotics to streamline and optimize laboratory processes related to new drug development and research. It is used to significantly enhance the speed and success rate of drug discovery efforts by automating repetitive tasks and integrating advanced instruments and software.
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