Lab Automation In Genomics Market Outlook, Insights, and Size: 2024-2033

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Overview and Scope

Lab automation in genomics refers to the use of advanced technologies and systems to streamline and automate various laboratory processes involved in genomic research and analysis. Lab automation in genomics aims to improve the efficiency, accuracy, and reproducibility of genomic research by reducing manual errors, increasing throughput, and accelerating data analysis.

Sizing and Forecast

The lab automation in genomics market size has grown rapidly in recent years. It will grow from $2.01 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to the increased demand for precision medicine, rise in the complexity of genomic data, increased focus on genomic research, increased adoption in clinical diagnostics, demand for scalability and flexibility.

The lab automation in genomics market size is expected to see rapid growth in the next few years. It will grow to $4.17 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to the expansion of point-of-care testing, shift towards cloud-based solutions, focus on real-time and continuous monitoring, expansion of precision agriculture, rise of multi-omics integration. Major trends in the forecast period include the adoption of automated instruments, adoption of lab automation systems, automated technologies, cloud-based platforms.

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Segmentation & Regional Insights

The lab automation in genomics market covered in this report is segmented –

1) By Type: Automated Liquid Handlers, Automated Plate Handlers, Robotic Arms, Automated Storage And Retrieval Systems, Other Types

2) By Process: Continuous Automation System, Modular Automation System

3) By Application: Hospitals And Private Labs, Biotech And Pharma, Academics And Research Institutes, Other Applications

North America was the largest region in the lab automation in genomics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab automation in genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing adoption of precision medicine is expected to propel the growth of lab automation in the genomics market going forward. Precision medicine is a personalized approach to healthcare that considers individual diversity in genes, environment, and lifestyle to deliver individualized medical therapies. The demand for precision medicine is rising due to several factors, such as advances in genomics, targeted therapies, patient-centered care, and drug development. Precision medicine needs lots of genetic tests to find disease-related genes, pushing labs to process many samples fast and accurately, leading them to use automated systems. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the growing adoption of precision medicine is driving the growth of lab automation in the genomics market.

Key Industry Players

Major companies operating in the lab automation in genomics market report are Pfizer Inc.; Robert Bosch GmbH; Johnson & Johnson; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; Novartis International AG; GlaxoSmithKline plc; Danaher Corporation; Becton, Dickinson and Company ; Agilent Technologies Inc.; PerkinElmer Inc.; Bio-Rad Laboratories Inc.; Qiagen N.V.; Tecan Group Ltd.; Illumina Inc.; Hamilton Company; Promega Corporation; Oxford Nanopore Technologies Ltd.; Fluidigm Corporation; Gilson Incorporated

The lab automation in genomics market report table of contents includes: