Automation has made a massive impact in the field of technology, as it enables procedures and processes to be carried out with minimal human intervention and with greater precision. Automation has applications across industries and verticals, playing roles in industrial and consumer landscapes, and has also made its mark in laboratory settings. Since laboratories are where scientific research takes place and hazardous materials are often used, precision and safety are important, making automation a valuable component of labs and an independent market in itself.
Laboratory or lab automation refers to the development of strategies and technologies that can facilitate the application of automation to a laboratory setting, where lab automation can reduce the need of humans in carrying out repetitive and straightforward procedures. Lab automation is a multi-disciplinary field that involves scientists and engineers to develop technologies that will be helpful in a lab. The requirements of lab automation are different from other forms of automation, with precision and recordable results playing an important role in boosting the productivity of labs.
Surge Of Lab Automation Technology In Recent Years
The current value of the global lab automation market or the Laboratory Information Management System (LIMS) market is estimated to be $3.50 billion, out of which the healthcare segment itself accounts for $1.11 billion. The global LIMS market is projected to grow to $4.91 billion by 2024, with the segment for healthcare reaching a value of $1.75 billion in the same period.
Laboratory automation services have the potential to increase efficiency by 80 percent while reducing 40 percent of configuration efforts and providing a return on the investment in under 3 months as implementation and training contribute to 40-45 percent of laboratory automation costs. Factors that pose a threat to the market primarily consist of the lack of availability of trained and skilled professionals and the costs involved in setting up and maintaining lab automation software. At a global level, non-uniform standards of integration slow down market growth.
Lab automation technology has witnessed a surge over the past few years, driven by innovations and advancements in the market, and a greater demand for LIMS services.
- The laboratory automation market can be identified on the basis of industry, for example, life science and healthcare, and on the basis of the role of the technology. The life sciences market accounts for approximately 35-40 percent of the lab automation market share, and biotechnology constitutes 20 percent. The biotechnology segment is expected to grow at a rapid pace, according to experts. Based on lab automation technology, the market can be divided into 6 broad categories, namely, robotics, liquid handling, laboratory execution and data management systems, multiplex and high-throughput ELISA systems, microplate readers, and informatics.
- The demand for laboratories overall is increasing at a global level and with it the demand for lab automation. Labs are being set up by contract research organizations (CROs), for academic research, healthcare research, diagnostics, pharmaceuticals, government research, scientific research, industrial research, biorepositories, biotechnology, chemicals industry and more. As competition increases at an industrial level, innovation, research and development are means for companies to develop new products to beat the competition.
- Technology plays a vital role in lab automation, and there are certain technologies that have made a major impact on the market in recent years. Cloud-based systems for backup security and services for Big Data analysis such as Software as a service (SaaS) and Platform as a service (PaaS) are making their impact on the market. Cloud services make sharing data easier and faster than ever, regardless of the location. SampleManager by Thermo Fisher has emerged as a popular integrated data management system, especially for scientific data.
Online LIMS offers real-time access, interactive data analyzers, auditing features and live daily workbooks. Artificial Intelligence (AI) in the form of Chatbots have become common in lab settings that can perform tactical and customer service roles. Although currently, chatbots are mostly used in oil and gas industry labs, they can be further integrated with traditional clinical labs as well. The Internet of Things (IoT) is another technology that is growing in popularity in lab automation and has significant potential. By linking IoT with lab automation, data can directly be transferred from scientific instruments to the machines without the physical need of humans, thereby drastically cutting down on processing times and chances for error.
- The lab automation market is immensely customizable, which has further increased its appeal across industries. LIMS has multiple variants across the broad categories of clinical, analytical, environment and manufacturing and can be developed and customized to suit the specific requirement. Although customization may require greater up-front costs in setup and training, in the long run, customized lab automation offers greater returns as it performs specialized tasks.
- At a regional level, North America retains its position as a dominant market in lab automation, with the presence and spread of major players of the industry in the region. Greater awareness about diseases, diagnosis processes and the role of labs, has led to a higher demand for lab automation in the area. Larger allocation of funds for research and development is also driving the market in the area.
The Asia Pacific region is considered to be a prospective market with great potential growth opportunities, driven by emerging economies, unmet medical needs, aging populations and demand to boost research and development facilities.
- The many benefits offered by lab automation have further increased their demand in the market. Using lab automation frees up human resources to attend to other tasks, performs repetitive tasks with utmost precision and efficiency, increases operational efficiency, reduces the need for humans to deal with hazardous materials, manages data, and optimizes the clinical workflow overall. Since machines require less downtime, they can work extended hours and also maintain data security and regulatory compliances. Using lab automation reduces operating costs significantly, making it more affordable for smaller companies to set up labs.
Lab automation technology has witnessed a significant surge in recent years with greater demand from diverse sectors for lab facilities. The customization capability of lab automation technology makes it suitable for nearly every facility and purpose. While developed markets currently have a larger market for lab automation, the demand from emerging economies is growing at a rapid pace. Apart from healthcare and life sciences, lab automation technology is used in biotechnology, CROs, academia and research and development. Cloud-based technologies, IoT and innovations are further expected to drive the market for lab automation technology in the coming years.
