Global Modular Laboratory Automation Market to Reach $4 Billion by 2024

Laboratory Automation is a proactive and customized process, involving automation of analytical process to total laboratory process. Laboratory automation is gradually shifting towards modular laboratory automation systems, which offer more flexibility and occupy lesser space. Rapid advancements in the field of laboratory automation have further led to the evolution of automated analytical and clinical testing, high-throughput screening, large-scale biorepositories, diagnostics, and combinatorial chemistry laboratories. Amid the COVID-19 crisis, the global market for Modular Laboratory Automation is projected to reach US$4 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.8% over the analysis period. United States represents the largest regional market for Modular Laboratory Automation, accounting for an estimated 53.6% share of the global total. The market is projected to reach US$2.3 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 9.3% over the analysis period.

The momentum in the modular laboratory automation market is likely to remain robust in the coming years. Concerns over dearth of skilled workforce, pressing need for high-quality, faster, and error-free laboratory analysis, and sustained drive towards total laboratory automation (TLA) would pave way for progressive growth in the market. Continued advancements in technology and roll out of sophisticated modular platforms for diagnostic as well as research laboratories would aid market growth. Improvements in the healthcare infrastructure of developing regions would play vital role in future growth of the market. Growing awareness of various diagnostic procedures and the increased emphasis on early detection for improved therapeutic results are the major factors promoting demand for high-tech laboratory technologies in the US. Rising incidence of cancer, cardiac conditions as well as other neurodegenerative disorders in the country are promoting wider deployment of advanced laboratories with end-to-end automation capabilities. Factors such as increasing public and private sector investments in lifescience and healthcare domains, rising incidence of chronic and lifestyle diseases, and improvement in healthcare access and rising awareness levels, are favoring market growth in the developing regions. China, in particular, is expected to spearhead growth, due to efforts to modernize healthcare infrastructure and increasing demand for laboratory services in clinical and diagnostic laboratories.

The market for Automated Plate Handlers is forecast to grow the fastest over the analysis period. Automated plate handlers are robotic solutions that can perform with the reliability of a robotic arm. Automated plate handlers are capable of addressing sample handling bottlenecks faced by analytical instruments used in flow cytometry, which is a vital technique utilized in biomolecule detection and cellular analysis. They offer efficient handling of microplates, especially when working with lidded plates. They are also compatible with a wide-range of laboratory instruments. Automated plate handlers for instance are being rapidly used in the proteomic research labs, as they can deliver as many as 20-30 platers using integrated software that controls the plate reader.