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What Is The Present And Forecasted Size Of The Lab Automation In Drug Discovery Market?
In recent times, the market size of lab automation in drug discovery has seen consistent growth. It is projected to increase from $6.47 billion in 2024 to $6.77 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%. The growth experienced in the historical period is due to factors such as the rising complexity of drug discovery, the requirement for efficiency and cost cutting, the growing demand for high-throughput screening, increasing labor costs, and the urgency to hasten the timelines for drug development.
In the upcoming years, the lab automation in drug discovery market size is anticipated to experience robust growth, escalating to “$8.28 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. The forecast period’s growth could be due to growing drug pipelines of pharmaceutical firms, the surge in personalized medicine and precision therapeutics, increased concentration on orphan drugs and rare diseases, the rising demand for decentralized and remote clinical trials, and the introduction of lab-on-a-chip and microfluidics technologies. Key trends during the forecast period encompass the expansion of customizable and modular automation solutions, the use of cloud-based platforms for data collaboration and management, growth of automation in emerging markets, the emergence of virtual drug discovery firms that make use of automation and digital technologies, and the creation of standardized protocols and interoperable systems.
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What Market Forces Are Contributing To The Growth Of The Lab Automation In Drug Discovery Market?
The burgeoning need for precision medicine is projected to stimulate the expansion of laboratory automation within the drug discovery sector in the future. Precision medicine, alternatively referred to as personalized medicine, is a medical treatment and prevention approach which takes into account the unique variations in genes, environment, and lifestyle for each individual. Laboratory automation speeds up research, enhances experimental consistency, and heightens the efficiency of precision medicine and drug discovery processes, eventually resulting in the production of more effective medication and diagnostics tailored to individual patients. For instance, as of October 2022, the Personalized Medicine Coalition (PMC), a US-based entity advocating for the understanding and implementation of personalized medicine, states that over 75,000 genetic testing products and 300 personalized medicines will be available in the market for individuals suffering from a variety of cancers, genetically rare diseases, and a myriad of chronic and infectious diseases. Thus, the escalating demand for precision medicine is propelling the development of laboratory automation within the drug discovery sector.
How Does The Lab Automation In Drug Discovery Market Differ By Segment?
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 New Opportunities Are Emerging From Trends In The Lab Automation In Drug Discovery Market?
In an attempt to assert their dominance in the lab automation segment of the drug discovery market, major corporations are concentrating their efforts on creating innovative solutions, such as rapid idea-to-data solutions. The term ‘rapid idea-to-data solution’ refers to an efficient process or platform that enables individuals or entities to swiftly convert their thoughts or proposals into actionable insights or data-oriented outcomes. As an example, Strateos Inc., a biotechnology firm from the United States, unveiled a rapid idea-to-data solution specifically for small molecule discovery, implemented on its cloud lab automation-as-a-service platform in April 2022. This lab automation instrument is specifically intended for drug development using small-molecule discovery. Including integrated robotic automation with 23 workcells and countless devices, the Strateos Cloud Lab Automation-as-a-Service Platform is an on-demand, scalable solution. The platform streamlines the process from early lead generation to lead optimization, facilitated by a software architecture that enables users to design compounds of interest in the cloud and have them automatically constructed and evaluated via multiple methods. These may include cell-based, biochemical, and structured-activity relationship (SAR) assessments.
Who Are The Primary Market Leaders In The Lab Automation In Drug Discovery Market?
Major companies operating in the lab automation in drug discovery market are Thermo Fisher Scientific Inc., Abbott Diagnostics, Roche Holdings Inc., Beckman Coulter, Siemens Healthineers, Becton Dickinson and Company, Agilent Technologies Inc., PerkinElmer Inc., Endress+Hauser, Shimadzu Corporation, Waters Corporation, Bio-Rad Laboratories Inc., QIAGEN, Beckhoff Automation GmbH & Co. KG, Eppendorf AG, Tecan Group Ltd., Brooks Automation Inc., Hamilton Company, AbCellera Biologics Inc., Hudson Robotics Inc., OpenTrons Labworks Inc., Quanterix Corporation, The Technology Partnership, HighRes Biosolutions Inc., Biosero Inc., Peak Analysis and Automation Ltd., Aurora Biomed Inc., Arctoris, Inveox GmbH, Synthace, Synchron Lab Automation
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Which Region Is Likely To Register The Fastest Growth In The Lab Automation In Drug Discovery Market?
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.
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