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What Is the Forecast for the Lab Automation In Genomics Market Growth in 2025?
In recent times, the lab automation in genomics market size has seen a significant expansion. The market is forecasted to increase from a worth of $2.33 billion in 2024 to $2.7 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 16.0%. This surge during the historic period can be credited to factors such as the heightened need for precision medicine, more complex genomic data, a renewed emphasis on genomic research, greater implementation in clinical diagnostics, and a rising demand for scalability and flexibility.
What Is the Forecast for the Lab Automation In Genomics Market Size Through 2029?
The genomics lab automation market is anticipated to witness a swift enlargement in the coming years, escalating to $4.82 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 15.6%. Factors propelling this growth trend over the forecast period comprise the proliferation of point-of-care testing, a transition towards cloud-centric solutions, emphasis on real-time and continuous tracking, the growth of precision agriculture, and the emergence of multi-omics integration. The upcoming period will also see significant trends like the integration of automated instruments, the utilisation of lab automation systems, the implementation of automated technologies, and adoption of cloud-based platforms.
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What are the Key Market Players in Lab Automation In Genomics Market and How They’re Evolving?
Major companies operating in the lab automation in genomics market report are Pfizer Inc.; Robert Bosch GmbH; Johnson & Johnson; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; Novartis International AG; GlaxoSmithKline plc; Danaher Corporation; Becton, Dickinson and Company; Agilent Technologies Inc.; PerkinElmer Inc.; Bio-Rad Laboratories Inc.; Qiagen N.V.; Tecan Group Ltd.; Illumina Inc.; Hamilton Company; Promega Corporation; Oxford Nanopore Technologies Ltd.; Fluidigm Corporation; Gilson Incorporated
What Are the Primary Growth Drivers in the Lab Automation In Genomics Market?
There’s an anticipated surge in the growth of lab automation in the genomics market due to the increasing application of precision medicine. Precision medicine tailors healthcare to fit individual genetic, environmental, and lifestyle factors, delivering a customized medical treatment paradigm. Several aspects, including advancements in genomics, targeted therapies, a focus on patient-centric care, and drug development, are driving the demand for precision medicine. Genetically exploring diseases through precision medicine necessitates numerous genetic tests, thus placing a demand on labs to process a multitude of samples both swiftly and accurately, causing an upswing in the usage of automated systems. As an example, the Personalized Medicine Coalition, a non-profit organization based in the US, reported in February 2024, that the FDA had approved 16 new personalized therapies for rare disease-afflicted patients in 2023, a clear increase compared to the six approvals in 2022. This surge in the application of precision medicine is thus boosting the expansion of lab automation in the genomics market.
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What Are the Leading Segments in the Global Lab Automation In Genomics Industry?
The lab automation in genomics 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 Process: Continuous Automation System, Modular Automation System
3) By Application: Hospitals And Private Labs, Biotech And Pharma, Academics And Research Institutes, Other Applications
Subsegments:
1) By Automated Liquid Handlers: Liquid Transfer Systems, Pipetting Robots
2) By Automated Plate Handlers: Plate Stacker Systems, Microplate Transport Systems
3) By Robotic Arms: Single-Axis Robotic Arms, Multi-Axis Robotic Arms
4) By Automated Storage And Retrieval Systems: Sample Storage Systems, Automated Retrieval Systems
5) By Other Types: Nucleic Acid Extraction Systems, Other Custom Automation Solutions
What Are the Key Market Trends in the Lab Automation In Genomics Industry?
Leading firms in the genomics lab automation sector are concentrating on the introduction of sophisticated solutions like automated whole genome sequencing (WGS) to open new fronts in genomics research, clinical diagnostics, and personalized medicine. With automated whole genome sequencing (WGS), one can analyze an individual’s genome using automated high-throughput sequencing technologies. For example, Clear Labs Inc., a genomics testing entity based in the US, introduced Clear Dx in May 2023. This cutting-edge solution offers an automated process for sample handling, ensuring accurate and uniform library preparation and management for genomics. The automation of Clear Dx reduces discrepancies due to human interference and ensures consistency throughout the sequencing process, leading to dependable and repeatable results. This solution simplifies genome sequencing, reducing hands-on time to a mere 30 minutes with a singular touchpoint, thus facilitating hassle-free whole genome sequencing even for those who lack formal training.
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What Is the Regional Outlook for the Lab Automation In Genomics Market?
North America was the largest region in the lab automation in genomics 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 genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the lab automation in genomics market, and how is it changing globally?
2. Who are the major companies in the lab automation in genomics market, and how are they performing?
3. What are the key opportunities and risks in the lab automation in genomics market right now?
4. Which products or customer segments are growing the most in the lab automation in genomics market?
5. What factors are helping or slowing down the growth of the lab automation in genomics market?
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