The laboratory automation market is expected to increase by $1 billion in the next five years, with the Asian market alone expected to double its 2010 expenditures on laboratory automation by 2017.
From pharmaceuticals to farms, laboratory automation is being used to reduce costs, improve accuracy, and increase output. With 2012 revenues of $1 billion in North America and upward growth projections for the next five to ten years, the once novel idea of laboratory automation is a growing trend.
Laboratory automation is a multi-disciplinary strategy to research, develop, optimise and capitalise on technologies in the laboratory that enable new and improved processes.
Laboratory automation professionals are academic, commercial and government researchers, scientists and engineers who conduct research and develop new technologies to increase productivity, elevate experimental data quality, reduce lab process cycle times, or enable experimentation that otherwise would be impossible.
The most widely known application of laboratory automation technology is laboratory robotics. More generally, the field of laboratory automation comprises many different automated laboratory instruments, devices, software algorithms, and methodologies used to enable, expedite and increase the efficiency and effectiveness of scientific research in laboratories.
The pharmaceutical and biotechnology industries have already proven the benefits of laboratory automation. Laboratory automation allows these industries to ensure consistent quality, reduce operating expenses, and increase the speed to market of their new products.
Both industries are expected to continue the trend towards total laboratory automation over the next several years as a growing demand for diagnostics and pharmaceuticals drives the need for increased throughput.
The clinical diagnostics industry has also been an early adopter of laboratory automation. This industry primarily performs diagnostic testing in support of medical facilities.
Market experts believe that budget pressures and staffing shortages will lead to a slightly suppressed, but still moderate growth in laboratory automation for this market.
Pharmaceuticals, clinical diagnostics, and academia have historically been the primary drivers of growth in this market. However, experts agree that future growth will come from the expansion of laboratory automation into new market segments.
For more information on the laboratory automation market, see the latest research: Laboratory Automation Market
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