Transforming Lab Operations: Automation, Monitoring, and Industry Dynamics
Industry Snapshot
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Automation will drive 61% of the $2.72 billion global diagnostics market in 2024.
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Asia-Pacific's automated liquid handling is booming with China’s robotic innovations and a global surplus of automated liquid handling systems.
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Remote sample collection and data convergence are driving lab monitoring innovation.
Lab automation and monitoring solutions are revolutionizing operations by addressing pre-analytical, analytical, and post-analytical workflows, alongside comprehensive facility oversight. While automation integrates robotics, instruments, and software to streamline processes, monitoring systems utilize sensors and environmental controls to enhance facility performance and maintenance. With over 30 companies generating $2.50 billion in revenue in 2023, intense industry competition drives innovation and fragmentation. The top 5 vendors — Beckman Coulter, Thermo Fisher Scientific, Agilent Technologies, Abbott, and Eppendorf — command less than 75% of the market, fuelling a dynamic and evolving industry.
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Addressing Pathology Workforce Gaps
Using digitization and automation to mitigate workforce shortages and enhance accuracy in clinical decision making.
Leveraging Digital Expansion
Investing in faster remote data access, scalable cloud-based storage, and asset monitoring to support innovative diagnostic technologies.
Enhancing Lab Resilience
Focusing on profitable, sustainable growth strategies by optimizing test menus and improving turnaround times through strategic in vitro diagnostics (IVD) partnerships.
Frost Radar™ is an advanced analytical tool designed for a thorough 'Growth Audit' across industries, assessing key companies based on crucial innovation and growth criteria. Our aim is to help clients drive innovation and accelerate growth. Leverage this unique benchmarking tool to significantly enhance your future growth potential.
Frost & Sullivan has identified top 11 companies excelling in growth and innovation in the lab automation and monitoring solutions industry.
Companies on the Frost Radar™: Abbott, Agilent Technologies, Beckman Coulter (Danaher), Bio-Rad Laboratories, Eppendorf, Hamilton Company, Qiagen, Revvity, Roche Diagnostics, Siemens Healthineers, Thermo Fisher Scientific.
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