PUBLISHER: The Business Research Company | PRODUCT CODE: 1499871
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499871
Lab automation in genomics refers to the utilization of advanced technologies and systems to streamline and automate diverse laboratory processes integral to genomic research and analysis. By leveraging lab automation, the objective is to enhance the efficiency, accuracy, and reproducibility of genomic studies while minimizing manual errors, increasing throughput, and expediting data analysis.
The primary types of lab automation in genomics encompass automated liquid handlers, automated plate handlers, robotic arms, and automated storage and retrieval systems, among others. Automated liquid handlers are specialized laboratory instruments engineered to accurately dispense precise volumes of liquids automatically, thereby optimizing processes such as sample preparation and assay setup. These devices significantly enhance efficiency and accuracy across various genomic workflows. Lab automation in genomics operates through a variety of processes, including continuous automation systems and modular automation systems. These automation solutions find application across diverse sectors, including hospitals and private labs, biotech and pharmaceutical companies, academic and research institutes, and other relevant industries.
The lab automation in genomics market research report is one of a series of new reports from The Business Research Company that provides lab automation in genomics market statistics, including the lab automation in genomics industry global market size, regional shares, competitors with a lab automation in genomics market share, detailed lab automation in genomics market segments, market trends and opportunities, and any further data you may need to thrive in the lab automation in genomics industry. This lab automation in genomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed in the historical period can be attributed to several factors, including the increased demand for precision medicine, the rise in the complexity of genomic data, heightened focus on genomic research initiatives, increased adoption of genomic technologies in clinical diagnostics, and the growing demand for scalability and flexibility in genomic workflows.
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 projected growth in the upcoming period is expected to be driven by several factors, including the expansion of point-of-care testing capabilities, a shift towards cloud-based solutions for data storage and analysis, a heightened focus on real-time and continuous monitoring in genomic research and diagnostics, the expansion of precision agriculture practices, and the rise of multi-omics integration for comprehensive data analysis. Key trends anticipated in the forecast period encompass the widespread adoption of automated instruments to streamline laboratory processes, the implementation of lab automation systems to enhance efficiency and accuracy, the integration of automated technologies to improve workflow automation, and the utilization of cloud-based platforms for data management and collaboration in genomic research and diagnostics.
The increasing adoption of precision medicine is poised to drive the expansion of lab automation within the genomics market in the foreseeable future. Precision medicine, characterized by its personalized approach to healthcare, takes into account individual variations in genes, environment, and lifestyle to deliver tailored medical therapies. The growing demand for precision medicine is attributed to various factors, including advancements in genomics, targeted therapies, patient-centric care, and drug development. As precision medicine relies heavily on genetic testing to identify disease-related genes, laboratories are faced with the challenge of processing a large number of samples quickly and accurately, prompting the adoption of automated systems. For instance, data from February 2024, provided by the Personalized Medicine Coalition, a US-based non-profit organization, revealed that the FDA approved 16 novel personalized therapies for rare diseases in 2023, compared to six in 2022. This indicates a significant uptick in the adoption of precision medicine, thereby driving the demand for lab automation in the genomics market.
Leading companies in lab automation within the genomics market are focusing on developing advanced solutions such as automated whole genome sequencing (WGS) to advance genomics research, clinical diagnostics, and personalized medicine significantly. Automated whole genome sequencing involves sequencing an individual's genome using high-throughput, automated sequencing technologies. For example, in May 2023, Clear Labs, Inc., a US-based genomics testing company, introduced Clear Dx, a new solution offering fully automated sample processing. Clear Dx ensures precise and consistent library preparation and management for genomics applications. The automation provided by Clear Dx reduces human variability, ensures consistency throughout sequencing, and streamlines genome sequencing processes. It reduces hands-on time to just 30 minutes with a single touchpoint, making whole genome sequencing accessible even without specialized training.
In October 2022, Ginkgo Bioworks, a US-based biotechnology company, completed the acquisition of Zymergen for an undisclosed sum. This strategic acquisition is geared towards accelerating the development of Ginkgo's horizontal synthetic biology platform by integrating critical automation and software technologies, including machine learning and data science tools. These technologies enhance exploration in both known and unexplored genetic design areas. Zymergen, a US-based biotechnology company specializing in automation technology, brings expertise in improving the efficiency and reliability of lab operations within genomics services.
Major companies operating in the lab automation in genomics market 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
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.
The countries covered in the lab automation in genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The lab automation in genomics market consists of revenues earned by entities by providing services such as sample preparation, sequencing library preparation, data analysis, sample tracking and management, quality control, customization, and integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The lab automation in genomics market also includes sales of centrifuges, thermal cyclers, sequencing platforms, PCR automation systems, and robotic workstations. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lab Automation In Genomics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on lab automation in genomics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lab automation in genomics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lab automation in genomics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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