The Global Lab Automation in Bioanalysis market is valued at USD 4.07 billion in 2016 and is expected to reach a value of USD 6.13 billion by the end of 2022 , growing at a projected CAGR of 7.07 % during the forecast period of 2017 – 2022 . The rapid rise in number of clinical and preclinical studies across the world has made the need for speed imperative in analysis of samples . In such a condition , the machines have to work 24 hours , day in and day out , and require considerable amount of manpower to ensure proper functioning . This has made automation very important in bioanalytical laboratories . Automation provides a much cheaper and viable alternative , considering the fact that it reduces human error to almost none and provides sustainable long term benefits .
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Apart from reducing mundane tasks , the market for laboratory automation is also driven by the need for consistency in quality . The cost of an error , in a scientific paper or developing a drug , is very high ; even fairly low error rates can have a profound impact on the conclusions you make downstream . It is believed that , taking out human element helps in achieving more consistency . Great advances have been made in the molding plastics , which has reduced the volumes of reagents used , enabling handling of smaller liquid volumes easy . These advancements have worked in favor of the development of Micro and Nano-liter plates to fit in with the automated liquid handling equipment .
Validation and data quality play a major role in modern life science ; legal validation , patents and clinical testing have become crucial . Automation enables a much higher reproducibility and better documentation of data . This allows production of more data points with great ease . It also ensures safety of personnel in the presence of infectious or potentially hazardous material .
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Automated plate handlers , with a market share of XX % in 2015 , dominated the equipment & software market throughout the forecast period . An automated liquid handler was the second biggest market by equipment & software segment , accounting a share of XX % in 2015 . The emerging automated pipetting systems , such as stand-alone systems , bench-top workstations and the multi-channel systems , are gaining much prominence in the global market . This segment is poised to grow with the highest annual growth rate during the forecast period . This
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