Smart Lab Market, By Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), By Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), By End-User (Pharma, Diagnolab, Forensics, Environmental) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

Report Code: PMI477021 | Publish Date: May 2023 | No. of Pages: 130

Global Smart Lab Market Overview

Smart Lab uses technology to automate or replace manual procedures and equipment manipulation. The degree of automation in a lab is determined by the workflow. The widespread use of automated instruments is most commonly seen at academic and research institutes in order to increase production and save time spent on different monotonous chores. Furthermore, the usage of automated tools by pharmaceutical companies' drug development departments is expected to significantly automate research phases, boosting market growth. The medical laboratory area has been altered by laboratory automation, which has steadily replaced semi-automatic and manual processes with completely automated equipment. In sterile situations, where human error is considerably reduced and time is saved, these automated solutions are advantageous. Testing, screening, and other routine laboratory activities are automated. Automation tools can handle many requests in real time, resulting in increased productivity and throughput. The COVID-19 pandemic has accelerated medicine development and research while putting additional strain on pharmaceutical companies and clinical laboratories. As a result of the increased interest in automated liquid handling, microplate readers, and robots, ensuring a shorter TAT has become a priority. The epidemic, on the other hand, has resulted in lower revenues and margins for hospitals and health systems, as well as lower expenditures in automation and technology. As a result, the long-term market for Lab automation is impacted. The Global Smart Lab Market accounted for US$ 4.1 billion in 2020 and is estimated to be US$ 6.84 billion by 2030 and is anticipated to register a CAGR of 5.30%.

Global Smart Lab Market Dynamics

Increased R&D investments in pharmaceutical industries

To fulfil the expanding needs of the healthcare sector, pharmaceutical and biotechnology businesses are investing heavily in research. Pharmaceutical businesses such as Sun Pharmaceuticals, Cipla, and Lupin Ltd., for instance, invested 8.8% of their revenues on R&D in FY 2018, according to the India Brand Equity Foundation (IBEF). Furthermore, cooperation between pharma companies and healthcare stakeholders for R&D into therapies will promote the use of lab automation, likely driving the demand for Lab Automation market above production levels. 

Slow adoption of smart labs among small and medium-sized laboratories

Many small and medium-sized laboratories find it challenging to invest in these smart labs due to financial constraints. A major restrain is the high maintenance and service expenses associated with laboratory informatics solutions. According to industry analysts, the cost of maintaining IT solutions is higher than the cost of the product itself. Furthermore, a lack of evidence on the cost-effectiveness of automation solutions for small and medium-sized laboratories, as well as a lack of risk-taking capability, are limiting the growth of the smart lab industry.

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Global Smart Lab Market Segmentation

        

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.

 

he Global Smart Lab Market is segmented based on product, application, end-user and region.

On the basis of Product, the Global Smart Lab Market is segmented into Robotic Arm, Microplate Readers, Workstation, LIMS, ELN. Based on Application, the target market is segmented into Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology. Based on End-User, the target market is segmented into Pharma, Diagnolab, Forensics, Environmental.

 

Regional Insights:

 

                                                                                                                                              Source: Prophecy Market Insights

                                         

On region the Global Smart Lab Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, North America is expected to dominate the market owing to the presence of large pharmaceutical companies, increasing investment in drug discovery and genomics market. This is expected to drive market growth for smart lab market.

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Report Scope:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Product- Robotic Arm, Microplate Readers, Workstation, LIMS, ELN

By Application– Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology

By End-User- Pharma, Diagnolab, Forensics, Environmental

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Smart Lab Market report based on product, application, end-user and region.

                                    

Global Smart Lab Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Smart Lab Market Key Players

The key players operating in the smart lab market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US),PerkinElmer Inc. (US), Agilent Technologies (US), F. Hoffmann-La Roche Ltd. (Switzerland), and Tecan Group Ltd. (Switzerland).

Global Smart Lab Market Company Profile

  • Thermo Fisher Scientific, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • PerkinElmer Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Agilent Technologies
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Danaher Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • F. Hoffmann-La Roche Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tecan Group Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Global Smart Lab Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Smart Lab Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Product
      • Market Snippet, By Application
      • Market Snippet, By End-User
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Smart Lab Market, By Product, 2020 – 2030, (US$ Bn)
    • Overview              
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Robotic Arm
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Microplate Readers
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Workstation
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • LIMS
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • ELN
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Smart Lab Market, By Application, 2020 – 2030, (US$ Bn)
    • Overview                                                   
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Drug Discovery
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Diagnostics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Genomics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Proteomics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Microbiology
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Smart Lab Market, By End-User, 2020 – 2030, (US$ Bn)
    • Overview                                   
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Pharma
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Diagnolab
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Forensics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
    • Environmental
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
  8. Global Smart Lab Market, By Region, 2020 – 2030, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Product, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By End-User, 2020 – 2030
      • Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  10. Company Profiles
  • Thermo Fisher Scientific, Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • PerkinElmer Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Agilent Technologies
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Danaher Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • F. Hoffmann-La Roche Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Tecan Group Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

Global Smart Lab Market is segmented based on product, application, end-user and region.

Increased R&D investments in pharmaceutical industries is major factor driving the market.

During the forecast period, North America is expected to dominate the market.

The key players operating in the smart lab market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US),PerkinElmer Inc. (US), Agilent Technologies (US), F. Hoffmann-La Roche Ltd. (Switzerland), and Tecan Group Ltd. (Switzerland).