Lab Automation For In-vitro Diagnostics Market - Growth, Trends, and Forecast (2019 - 2024)

The Lab Automation for In-vitro Diagnostics Market is segmented by Equipment (Automated Plate Handler, Automated Liquid Handler, Robotic Arm, Automated Storage & Retrieval System, and Analyzer), End User (Academic, Laboratory, Other End Users), and Geography.

Market Snapshot

lab automation market for in vitro diagnostics
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Lab Automation For In-vitro Diagnostics Market

The lab automation for in-vitro diagnostics market is expected to register a CAGR of 4.5% over the forecast period.

  • The IVD product portfolio includes devices that assist in clinical chemistry & immunoassays, urinalysis, point-of-care testing, and patient self-testing devices. IVDs may be used in a variety of environments, including laboratories, clinics, diagnostic centers, educational institutes, or homes. They are employed for preventive diagnosis, early-stage screening, therapy selection, and monitoring.
  • According to a leading industry player, Roche Holding AG, IVDs are extremely valuable resources for disease prevention, detection, and management. They influence roughly two-thirds of clinical decision making while accounting for just 2% of healthcare spending.
  • Any form of inaccuracy could lead to the mismanagement of a patient’s disease or condition. Given this potential risk, as well as the impact on the overall delivery of health care, the governments have assumed a role in the regulation of IVDs through several agencies, including the Food and Drug Administration (FDA), ISO, and the Centers for Medicare & Medicaid Services (CMS). These factors have significantly contributed to market growth over the years.

Scope of the Report

In-vitro diagnostics (IVD) tests are basically medical devices which could be in the form of reagents, techniques, instruments, or a combination of these used in vitro for the examination of specimens such as blood, urine or tissue with the goal of obtaining a diagnosis from assays in a controlled environment Diagnostic tests are usually conducted in laboratories, private or public, equipped with appropriate and sometimes expensive instrumentation and staffed with trained and qualified personnel to perform the tests.IVDs can spot early warning signs and individual risk factors, creating new opportunities for prevention as well as early intervention. Some IVDs can extend beyond the laboratory, hospital or doctor’s office thereby empowering patients with chronic diseases to self-monitor and manage their own conditions.

By Equipment
Automated Plate Handler
Automated Liquid Handler
Robotic Arm
Automated Storage & Retrieval System
Analyzer
By End User
Academic
Laboratory
Other Ed Users
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Digital Transformation of Lab Aids the Market Growth

  • Technological innovations have improved the productivity of clinical labs. With the increasing reliance on technology-based systems and drastic growth of internet-driven processes, the need for automation is increasing. Digital transformation i.e. connecting devices to the internet, ensures remote monitoring, alerts, remote control, and notifications for everything, ranging from temperature to threats.
  • As manual systems always expose the process to the risk of errors, the implementation of IoT systems helps in collecting the data digitally and accurately, which has been proven to reduce the time by 60%.
  • IoT also provides IVD with the capability to directly interact with the support layer, which allows event capture in an electronic way. Diagnostic devices play an essential role in improvising the healthcare industry. It is estimated that 60% of the medical decisions in the world are made with the support of IVD solutions.
  • Systems with IoT implementation offer server control and monitoring of various sensors, and can be easily configured to handle more hardware interface modules. Sensors loaded onto the devices could help in data collection and communication, with cloud servers and other devices. According to Telecoms.com survey in 2018, 45% respondents in a survey felt Healthcare is one of the most important markets for IoT to address in the coming years.
lab automation market for in vitro diagnostics

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North America to Hold the Largest Market Share

  • North America is expected to account for the largest share of the market owing to the availability of government funds, growing use of molecular diagnostics in genetic disorders and cancer screening, and the presence of most of the major players in this region.
  • Besides, accessibility to superior technologies, demand for laboratory automation, expansion of molecular diagnostics for genetic disorders and cancer screening, and presence of major leading companies in the US will also stimulate the market demand in North America.
lab automation market for in vitro diagnostics

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Competitive Landscape

The lab automation for in-vitro diagnostics market is a consolidated market. The entry cost for setting up Lab infrastructure remains high, and hence, there are only a few major players that dominate the market. Moreover, this market has undergone a round of consolidation already. The major players in this market are Cognex Corporation, Roche Holding AG, Thermo Fisher Scientific Inc., Abbott Laboratories among others. Market domination through innovative product launches and strategic agreements continue across this industry.

  • December 2018 - Novacyt, a specialist in clinical diagnostics, had launched its next CE-Marked approved molecular products, the genesig Real-Time PCR BK virus (BKV) Kit (CE) and genesig Real-Time PCR Epstein-Barr Virus (EBV) Kit (CE). This follows the launch of a Zika assay in the second half of 2017, expanding its portfolio of molecular diagnostic tests for monitoring post-transplantation and immunosuppressed patients.
  • July 2018 - Surmodics, Inc., the global leader in chemical components for in vitro diagnostic (IVD) tests and microarrays, launched and MatrixGuard Diluent. MatrixGuard Diluent provides assay developers unsurpassed blocking whereby matrix interferences are effectively blocked while the intended assay signal is maintained.

Major Players

  1. Cognex Corporation
  2. Roche Holding AG
  3. Thermo Fisher Scientific Inc.
  4. Danaher Corporation
  5. Siemens Healthineers AG

* Complete list of players covered available in the table of contents below

lab automation market for in vitro diagnostics

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Dynamics

    3. 4.3 Market Drivers

      1. 4.3.1 Flexibility and Adaptability of Lab Automation Systems

      2. 4.3.2 Digital Transformation for Laboratories with IoT

    4. 4.4 Market Restraints

      1. 4.4.1 Slow Adoption Rates by Small and Medium Laboratories

      2. 4.4.2 Lack of Skilled Laboratory Professionals

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Equipment

      1. 5.1.1 Automated Plate Handler

      2. 5.1.2 Automated Liquid Handler

      3. 5.1.3 Robotic Arm

      4. 5.1.4 Automated Storage & Retrieval System

      5. 5.1.5 Analyzer

    2. 5.2 By End User

      1. 5.2.1 Academic

      2. 5.2.2 Laboratory

      3. 5.2.3 Other Ed Users

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Latin America

      5. 5.3.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Cognex Corporation

      2. 6.1.2 Roche Holding AG

      3. 6.1.3 Thermo Fisher Scientific Inc.

      4. 6.1.4 Danaher Corporation

      5. 6.1.5 Agilent Technologies, Inc.

      6. 6.1.6 Abbott Laboratories

      7. 6.1.7 PerkinElmer, Inc.

      8. 6.1.8 Tecan Group Ltd.

      9. 6.1.9 Becton, Dickinson and Company

      10. 6.1.10 Siemens Healthineers AG

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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