LAB AUTOMATION MARKET ANALYSIS

Market Challenges And Opportunities

Restraints

The global lab automation market growth can be hindered due to expensive and inflexible systems. For instance, in October 2022, an article was published by ScienceDirect according to which the companies in the market offers specialized solutions in lab automations but they are very expensive and inflexible. For example, some instruments are suitable only for automation of single instruments (e.g., so-called autosamplers). There are several low-cost lab automation solutions which are also commercially available, but this do not solve the problem of existing lab equipment such as thermal cyclers, incubators, and shakers that cannot be integrated into automation systems.

Limitations of lab automation instruments will hinder the market pace

For instance, in November 2020, a review article was published by Frontiers Bioengineering and Biotechnology, according to which there are certain limitations for lab automation such as incorrect application, obsolescence, innovation inhibition, and others, which can hamper the lab automation market. Despite the obstacles that researchers must overcome in order to partially or entirely automate their experimental processes, there are numerous instances of laboratory automation development being done "in-house," without the aid of a commercial partner or a sizable grant specifically designated to funding automation. The possibility of incorporating automation into research teams' processes is becoming increasingly apparent.

Increasing inorganic strategies such as collaboration by the key players

Moreover, increasing inorganic strategies such as collaborations by key players are expected to propel the market growth during the forecast period. For instance, in February 2022, Biosero, Inc., a member of the BICO group, a developing science-centric software and laboratory automation tool, announced that it had joined the Genedata, a bioinformatics company that provides enterprise software, Ready-to-Run program, which helps to accelerate drug discovery with frictionless integrations that streamline the laboratory automation processes in biopharmaceutical companies. This collaboration will accelerate and increase the efficiency of experimental workflows through the workflow automation.

Global Lab Automation Market - Drivers

For instance, in January 2021, Tecan Trading AG, one of the leading global providers of laboratory equipment specialized in the development, production and distribution of instruments, announced that it had participated as the lead investor in the series B financing round of Labforward GmbH, a provider of smart lab software tools for research labs. Tecan Trading AG has invested US$ 4.28 million and has acquired 10% stake in Labforward.