AstuteAnalytica India Pvt. Ltd.
Global laboratory robotics market generated a revenue of USD 289.38 million in 2022 and is projected to attain a value of USD 527.56 million by 2031 at a CAGR of 6.9% during the forecast period 2023–2031.
New Delhi, Jan. 16, 2023 (GLOBE NEWSWIRE) — Laboratory robotics is still in its early stages of development but is growing rapidly, which presents both challenges and opportunities. On one hand, there is still a lot of room for improvement in terms of technology and efficiency. However, this also means that there is significant potential for growth and innovation in this sector. The majority of companies in the laboratory robotics market are small, with only a few large players. However, the industry is expected to grow rapidly in the coming years, as laboratory robots become more widely adopted. The major drivers for this growth are the increasing automation of laboratories and the need for faster and more accurate results. Currently, there are three main types of laboratory robots: automated liquid handlers, autoclave washers, and cell culture systems.
The most of this growth of the global laboratory robotics market was driven by the pharmaceutical and biotechnology industries, which were using robots to speed up drug discovery and development processes. The report also found that the use of robots was becoming more widespread in other industries, such as food and beverage, chemicals, and oil and gas. In addition, the report found that robots were being used more extensively in research laboratories, particularly in academic settings.
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Finally, the report found that there was a growing trend of companies outsourcing their laboratory robotics needs to specialized providers. This was especially true for small and medium-sized companies that did not have the internal resources to develop and maintain their own robotic infrastructure.
High Investment Cost and Lack of Standardization to Imped Laboratory Robotics Market Growth to Some Extent
Astute Analytica expects that new types of robots will emerge in the future as technology advances. One of the key challenges facing the industry is the high cost of investment. Laboratory robotics are generally more expensive than traditional manual methods and this can hamper adoption.
Another challenge is the lack of standardization across different platforms which can make it difficult to compare results and replicate experiments. Our study believes that these challenges can be overcome with continued innovation and investment in the sector. The report on laboratory robotics market contains a number of recommendations for both suppliers and users of laboratory robotics. Suppliers should focus on developing new applications and improving usability while users should seek to increase collaboration between different stakeholders to drive adoption.
Key Market Trends to Watch Out
Astute Analytica’s analysis of laboratory robotics market enabled it to identify several key trends shaping the market.
First, the industry is benefiting from the continued development of new robotic technologies.
Second, laboratory robotics companies are consolidating at a rapid pace.
And third, the industry is shifting from North America and Europe to Asia.
The continued development of new robotic technologies is driving growth in the laboratory robotics industry. Newer, more advanced robots are entering the market, and they are becoming more affordable. This is making laboratory robotics more accessible to a wider range of customers, including small- and medium-sized laboratories.
The industry is also benefiting from the consolidation of laboratory robotics companies. A growing number of firms are acquiring other companies in the space, which is helping them to expand their product offerings and gain scale advantages. The consolidation trend is also making the industry more efficient and reducing costs.
Finally, the laboratory robotics market is shifting from North America and Europe to Asia. This reflects the growing economic importance of Asia as a market for Laboratory robotics products and services.
Three Major Shifts are Underway in Global Laboratory Robotics Market
Astute Analytica’s analysis also Identifies three major shifts that are under way in the market:
A move from low-end to high-end applications
A move from disconnected to integrated systems
A move from custom-built to off-the-shelf solutions
These shifts are being driven by advances in technology and changes in customer preferences, and they are changing the competitive landscape of the laboratory robotics market. Interestingly, the number of companies offering automated liquid handlers has remained relatively constant over the past few years, even as other segments have seen new entrants. This is due to the fact that liquid handlers are typically used for high-throughput screening applications, which require a different set of capabilities than other segments.
As a result, the automated liquid handling segment has been relatively insulated from commoditization pressures. In contrast, the other segments of the laboratory robotics market have seen a proliferation of new entrants in recent years. This is in line with the fact that these segments are less capital intensive and have lower barriers to entry than automated liquid handling.
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Laboratory Robotics Market Gaining Momentum for Drug Discovery
As drug discovery becomes increasingly reliant on high-throughput techniques, laboratory robotics is playing an increasingly important role. Automated liquid handling robots are now commonplace in many research laboratories, and are used for a variety of tasks such as plate washing, reagent dispensing and nucleic acid extraction. In addition to their routine use in drug discovery, laboratory robotics is also being used to create new drugs. For example, automated DNA synthesis and peptide synthesis are both powerful tools that can be used to create new molecules for testing.
The increasing use of laboratory robotics is having a major impact on the speed and efficiency of drug discovery. With more and more tasks being automated, researchers are able to focus on other aspects of their work, leading to faster progress towards new treatments.
There are several reasons for the increasing use of laboratory robotics market in drug discovery.
First, they can automate tedious and time-consuming tasks, such as pipetting and media preparation. This frees up scientists to focus on more complex tasks. Second, they can increase throughput by running multiple experiments simultaneously.
Third, they provide greater accuracy and precision than manual methods, which is critical for drug discovery where failure rates are high.
Finally, they improve reproducibility by ensuring that experiments are carried out in a consistent manner.
Laboratory robotics market is becoming an increasingly important tool in drug discovery. Their ability to automate repetitive tasks, increase throughput, and improve accuracy and reproducibility makes them invaluable for this application.
Some of the Top Market Players Are:
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