Global Lab Automation in Drug Discovery Market By Type (Automated Liquid Handlers, Automated Plate Handlers, Robotic Arms), By Application (Hospitals and Private Labs, Biotech and Pharma), By Region,...

The Global Lab Automation in Drug Discovery Market was valued at USD 5.35 billion in 2023 and it is poised to grow beyond USD 7.12 billion by the end of 2030; registering a CAGR of 4.16% during the forecast period of 2024-2030.

The growth of the global lab automation in drug discovery is primarily driven by increasing investments in R&D coupled with benefits of automation. Advancements in robotics and artificial intelligence (AI) helps shaping the growth of the global Lab automation in drug discovery market. High initial cost and lack of skilled workforce might hamper the growth of the market.

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Global Lab Automation in Drug Discovery Market Dynamics

Market Drivers

Increasing investments in R&D;

-          Investments in research and development (R&D) are increasing day by day. With rising competition among pharmaceutical industries coupled with evolve technologies, many companies are investing in R&D to stay competitive. In addition, consumer preferences are constantly changing worldwide with rising disposable income. To meet these evolving demands, companies need to invest in R&D to develop new products and improve existing ones.

-          Moreover, government of many developing countries are also promoting the companies to focus on R&D. Government investment in drug discovery R&D is primarily driven by the need to improve public health. Developing new drugs can lead to better treatments and cures for various diseases, improving the overall health and well-being of the population. For instance, Indian Government has launched a scheme for Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) in 2023. The scheme is for funding the research and development (R&D) in six priority areas as well as the creation of specialized Centers of Excellence at each of the seven National Institutes of Pharmaceutical Education & Research (NIPERs).

Automation increased efficiency and productivity;

-          Lab automation systems can perform repetitive tasks more quickly and accurately than humans, leading to increased efficiency and productivity in the drug discovery process. This speeds up the process of finding new drugs by enabling researchers to screen more molecules in less time.

-          In addition, lab automation reduces the risk of human error and variability, leading to improved data quality and reproducibility. This is critical for drug discovery, where even small variations in experimental conditions can have a significant impact on results.

Market Restraint

High initial cost and lack of skilled workforce;

-          The initial investment required for setting up automated systems can be high. This includes the cost of purchasing automation equipment, integrating systems, and training personnel. For some smaller pharmaceutical companies or research institutions, the high upfront cost of lab automation systems can be a significant barrier to adoption.

-          Lab automation systems require regular maintenance and technical support to ensure they are operating efficiently and effectively. This requires skilled workforce and lack of this skilled person can disrupt research activities and lead to delays in the drug discovery process.

Market Opportunities

Advancements in robotics and artificial intelligence (AI);

Advancements in robotics and AI have significantly impacted the field of drug discovery, making the process faster, more efficient, and cost-effective. Machine Learning in Drug Design, AI-driven Virtual Screening, Robotic Arms, Automated Liquid Handlers, Automated Plate Handlers are some of the advancements in drug discovery. The laboratory setting has undergone a transformation through automation, whose capacity to do vast amounts of repetitive work has increased reliability, throughput, and reproducibility while also relieving some of the stresses placed on scientists today.

Lab Automation in Drug Discovery Market by Equipment Type Insights:

Based on equipment type, the lab automation in drug discovery market is segmented into automated liquid handlers, automated plate handlers, robotic arms, automated storage & retrieval systems (AS/RS) and others. Automated liquid handling systems are predicted to acquire the highest share of the market.  Academic laboratories as well as pharmaceutical and biotech labs are increasingly using liquid handling systems. With this, automated liquid handling technology is constantly improving and players are integrating the advanced features.

Lab Automation in Drug Discovery Market by Application Insights:

Based on application segment, the lab automation in drug discovery market is categorized into hospitals and private labs, biotech and pharma, academics and research institutes and others. Hospitals and private labs segment is expected to be the fastest growing segment and anticipated dominate the market during the forecast period.

Market By region Insights

Based on the regional coverage, the global lab automation in drug discovery market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America currently dominates the Lab Automation in Drug Discovery market due to the early adoption of technology and strong healthcare sector in the region. However, Asia Pacific offers substantial market opportunity for the Lab Automation in Drug Discovery Market due to growing economy in the countries like India and China.

Competitive Scenario:

Major players operating in the global lab automation in drug discovery market include Thermo Fisher Scientific, Beckman Coulter, Hudson Robotics, Perkinelmer, Bio-Rad, Roche Holding AG, Eppendorf AG, Shimadzu, Aurora Biomed, Becton Dickinson, Synchron Lab Automation (MolGen), Agilent Technologies, Siemens Healthcare and Tecan Group Ltd.

Scope of Work – Global Lab Automation in Drug Discovery Market

Market Segmentation

·         Based on Equipment

o   Automated Liquid Handlers

o   Automated Plate Handlers

o   Robotic Arms

o   Automated Storage & Retrieval Systems (AS/RS)

o   Others

·         Based on Application

o   Hospitals and Private Labs

o   Biotech and Pharma

o   Academics and Research Institutes

o   Others

·         Based on region

o   North America (U.S., Canada)

o   Europe (Germany, France, Italy, Spain, UK, Rest of Europe)

o   Asia-Pacific (China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia-Pacific)

o   Latin America (Brazil, Argentina, Mexico, and Rest of LAMEA)

o   Middle East & Africa (Saudi Arabia, UAE, Qatar Bahrain, South Africa, Rest of MEA)

Frequently Asked Question

Q. What is the current market size of the Global Lab Automation in Drug Discovery Market?

Answer. The global Lab Automation in Drug Discovery market size was estimated at USD 5.35 billion in 2023 and is expected to grow beyond USD 7.12 billion in 2030, registering a CAGR of 4.16% during the forecast period of 2023-2030.

Q. What is the major growth driver of the Global Lab Automation in Drug Discovery Market?

Answer. The growth of the global Lab Automation in Drug Discovery market is mainly driven by rapidly increasing investments in R&D.

Q. Which is the largest region during the forecast period in the Global Lab Automation in Drug Discovery Market?

Answer.  North America region accounted for largest market share in the global Lab Automation in Drug Discovery market in 2022.

Q. Which segment accounted for the largest market share in Global Lab Automation in Drug Discovery Market?

Answer. Based on application, Hospitals and Private Labs segment expected to be the fastest growing segment of the lab automation in drug discovery market.

Q. Who are the key market players in the Global Lab Automation in Drug Discovery Market?

Answer. Thermo Fisher Scientific, Beckman Coulter, Hudson Robotics, Perkinelmer, Bio-Rad, Roche Holding AG, Eppendorf AG, Shimadzu, Aurora Biomed, Becton Dickinson, Synchron Lab Automation (MolGen), Agilent Technologies, Siemens Healthcare and Tecan Group Ltd are the key players in this market that are shaping the growth trajectory of this market.