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According to the study conducted by Astute Analytica, the Global Laboratory Robotics Market was valued at US$ 270.7 Mn in 2021 and is witnessing an opportunity of US$ 204.8 Mn during 2022-2030. The market is expected to register a growth CAGR of 6.9% during the forecast period 2022-2030. Laboratory robotics is the act of the usage of robots in biology or chemistry labs. The pharmaceutical groups set up robots to transport biological or chemical samples around to synthesize novel chemical entities or to test the pharmaceutical price of the current chemical count.
Surging investments of R&D in the pharmaceutical industry and the growing demand for process automation for various industrial verticals is driving the global laboratory robotics market. Funding levels for pharmaceutical industry have been increasing, especially in research sector. Rising number of initiatives taken by government bodies, universities, and pharmaceutical and biotechnology companies to encourage research related to biotechnology is one of the major factors that positively impact the market growth. The laboratory robots further help researchers and scientists to create new drug into the market. Increased productivity, consistent results, safe working conditions, and significant time, space, and cost savings are just a few of the primary benefits. Lab automation makes it easier to use laboratory equipment for repetitive operations like labelling tubes and sample verifications, as well as lowering and limiting the physical strain caused by manual tasks, which saves money and space in the lab. As a result of the numerous benefits offered by automated systems, small and big laboratories are projected to use these workstations in the near future.
A high initial cost, restricted adaptability, and a lack of intuition for tackling tough or esoteric problems are challenges faced by the Global Laboratory Robotics Market. Many small and medium-sized laboratories find it challenging to invest in automation due to financial constraints. A key stumbling block is the high maintenance and service expenses associated with laboratory informatics solutions. Thus, slow adoption of automation among small and medium-sized laboratories and high cost of robotics is a major roadblock to market growth during the forecast period.
The laboratory robotic is considered as one of the most prominent sectors that take advantage of AI and analytical tools and thus attract wider investment opportunities. The integration of AI laboratory robotics will be able to analyze, compute more, require and constantly add more advanced features to their equipment and offer accurate results. In robotics, artificial intelligence (AI) enables robots to identify and distinguish numerous objects with human-like vision.
Strategies adopted by key market players
The key players in the global laboratories market are Aurora Biomed Inc., Tecan Group, Thermo Fisher Scientific, Siemens AG, Yaskawa Electric Corporation, PerkinElmer Inc., Chemspeed Technologies AG, and Hamilton Company among others. The market players operating in the market have steadily adopted groundbreaking marketing strategies to gain a competitive advantage. Some of the strategy undertaken by the key players are listed below:
United States holds major share of 81.2% of the North American region in 2021
North America laboratory robotics market holds a significant share of around 38.7% in 2021. The United States holds major share of 81% in term of revenue in the North America laboratory robotics market in 2021. Mexico is growing at the fastest CAGR of 7.1% during the forecast period. Among the type, biological laboratory robotics holds major share in terms of revenue in the market and contributed 34.7% share in the North America laboratory robotics market during the forecast period.
Europe Laboratory Robotics Market holds share of 28.5% in 2021
Europe laboratory robotics market holds a significant share of 28.5% in 2021. projecting a CAGR of 6.3% during the forecast period. Russia is growing at the fastest CAGR of 6.9% during the forecast period. In application segment, drug discovery contributed the major share of 39.4% in the Europe laboratory robotics market.
Asia Pacific to grow at the fastest CAGR during the forecast period
The market was valued at US$ 67.8 Mn in 2021, projecting a CAGR of 8.0% during the forecast period. China holds major share of 38.8% in term of revenue in the market in 2021. Based on End User, biotechnology and pharmaceutical companies holds the major share of 30.5% in the Asia Pacific laboratory robotics market.
Middle East and Africa Market was valued at US$ 9.8 Mn in 2021
Middle East & Africa laboratory robotics market holds a significant share in 2021. UAE holds major share of 34.4% in term of revenue in the laboratory robotics market in 2021.
Segmentation Overview of the Global Laboratories Market
Global Laboratory Robotics Market is segmented based on type, product, and region. These segments are further sub-divided to get a holist picture of the market.
Following are the different segments of the Global Laboratories Market: -
By End User
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