Increasing inorganic methods, like key player collaborations, are anticipated to fuel market expansion throughout the projection period. For instance, in February 2022, Biosero, Inc., a BICO group company that develops science-centric software and laboratory automation tools, announced that it had joined Genedata, a bioinformatics company that offers enterprise software, Ready-to-Run program, which helps to speed up drug discovery by facilitating frictionless integrations that simplify the laboratory automation processes in biopharmaceutical companies. Through workflow automation, this partnership will quicken and improve the efficiency of experimental workflows. The lab automation market is anticipated to grow through the projected period as a result of rising initiatives including collaborations by industry players. For instance, in January 2020, Eli Lilly and Company, a leader in global healthcare, teamed up with Striates Inc., a leader in on-demand discovery science, to launch a remote-controlled robotic cloud lab, an automated platform that can handle sample management, designing, synthesis, purification, analysis, and hypothesis testing during the drug discovery process.
According to Coherent Market Insights, The estimated value of the global Lab Automation Market is US$ 4,903.9 million in 2022, and it is anticipated to grow at a CAGR of 4.9% from 2022 to 2030.
Prominent Companies in the Lab Automation Industry:
1. Abbott Laboratories
The company was started in 1888 and is based in Chicago, Illinois, United States. The business finds, creates, produces, and markets a diverse range of healthcare goods and services. Pharmaceuticals, nutritional, diagnostic, and vascular items are among the offerings of the company. Lingo, a series of consumer bio wearable sensors that collects a variety of biological measurements to optimise exercise and dietary plans, was released by Abbott in January 2022.
2. F. Hoffmann-La Roche Ltd.
The company was founded in 1896 and has its headquarters in Basel, Switzerland. The business provides cancer and transplant drugs, as well as in-vitro diagnostics. Roche declared in March 2021 that it would buy GenMark Diagnostics for $1.8 billion. In September 2021, the business revealed that it would buy the German biotech firm TIB Molbiol in order to grow its molecular diagnostics division.
3. Siemens AG
The company was founded in 1847 and is based in Munich and Berlin, Germany. The Company is heavily invested in digitalization, automation, and electrification. Siemens purchased Wattsense, a maker of IoT hardware and software for buildings, in October 2021 for an unknown fee. For an unknown fee, Siemens purchased a 77% majority share in the Indian building solutions company iMetrex Technologies in April 2020.
4. Merck KGaA
The company was started in 1668 and is based in Darmstadt, Germany. Merck produces medicines, vaccines, biologic therapies, and things for animal health. After paying an undisclosed sum for the cattle management company Vence, the company announced in September 2022 that it will merge with Merck Animal Health. PrognostiX Poultry was purchased by Merck Animal Health in February 2021.
5. Thermo Fisher Scientific
The business was started in 1956 and is based in Waltham, Massachusetts, United States. The business provides software services, reagents and consumables, and scientific apparatus. Thermo Fisher Scientific said in January 2021 that it had purchased Henogen SA, a producer of viral vectors based in Belgium, from Groupe Novasep SAS for €725 million in cash. The company and The Binding Site Group, a British diagnostics company, reached an agreement in October 2022.
6. PerkinElmer Inc.,
The firm was founded in 1937 and is based in Waltham, Massachusetts, United States. The business offers services, technologies, knowledge, and solutions in the field of health science. PerkinElmer declared in March 2021 that it had finished buying Oxford Immunotec Global PLC (Oxford Immunotec). PerkinElmer announced its intention to purchase Horizon Discovery Group in November 2020 for about US$383 million.
7. Agilent Technologies, Inc.
The company was founded in 1999 and is located in Santa Clara, California, United States. The business offers lab equipment, software, services, and consumables. The business declared early in 2023 that it will be expanding its Frederick, Colorado, facility for producing nucleic acid-based therapies by $725 million.
Definition: A multidisciplinary strategy called lab automation is used to develop and improve laboratory technology in order to enhance medical testing and procedures. Automated procedures, which could be risky and prone to error, have taken the place of the manual steps.
