This is an industry-first study on the topic that provides an introduction to the technology pillars and the ecosytem, covering use cases and growth opportunities. The report will serve as an essential resource for stakeholders in developing their digital transformation journey.
Diagnostic academic and commercial research labs suffer from cost pressures, given the ongoing Protecting Access to Medicare Act (PAMA) regulations and reproducibility issues, and are under productivity strain. The recent COVID-19 pandemic leading to increasing test volumes and renewed focus on research and development (R&D) to drive innovation will further increase the pressure.
This research report indicates that traditional solutions have focused primarily on tools and solution that fulfill the standard lab requirements and will remain inefficient as the industry undergoes digital transition, with data-driven initiatives at every stage. Increasing test volumes, cost pressures, and, in certain cases, distributed laboratories, compel traditional participants to leverage converging technologies such as robotics, AI, Big Data, IoT, and cloud technologies to shift from static, fragmented operations and tools to dynamic and value-driven practices.
The smart labs market includes proprietary robotic platforms, automated tools, Software-as-a-Service (SaaS), mobile apps, and other digital solutions that support operations, data management, and analytics across the value chain within diagnostic labs. For the purpose of this study, only these segments have been considered as part of the market.
The ecosystem for supporting the growth of smart labs is maturing; several technology start-ups and large commercial vendors are already developing products and solutions catering to the specific areas for pre/post-analytical operations, as well as allied areas that include smart procurement, remote monitoring, and predictive maintenance. While the immediate impact in the next 2-3 years is expected to be achieved through small modular instruments and systems, in the long run (5-7 years), companies that will look to integrate end-to-end solutions will see significant impact on efficiency, cost savings, and operational success, depending on their business objectives and performance metrics.
This analysis identifies the key application areas within the value chain that will see significant growth and, if addressed, can more than double the benefits that can be achieved using current instruments and workflow.
Key Issues Addressed
What is a true smart lab?
How do diagnostics academic and commercial labs become smart?
What are the unique companies that are introducing innovative solutions for focused industry applications? What are the select use cases by major application areas?
What are the immediate lucrative growth opportunities and applications?
What are the critical success factors, challenges, and strategic imperatives that need to be considered for setting up smart labs?
Key Topics Covered:
1. Executive Summary
Methodology
Key Findings
Research Scope
Key Questions this Study will Answer
Smart Labs - Overview
6 Pillars for Smart Labs
Optimal Smart Lab Ecosystem
Market Drivers and Restraints
Major Growth Opportunities
Competitive Smart Labs Ecosystem - Top Vendors
Strategic Imperatives for Major Stakeholders
2. Market Overview
Challenges in Laboratory Operations
How Can Labs Become Smarter?
Smart Labs - Definition
Smart Labs Solutions Market
Evolution of Smart Labs
Smart Labs - Major Application Segments
6 Pillars for Smart Labs
Optimal Smart Lab Ecosystem
Example of Smart Lab Implementation - Vendor Capability
Example of Smart Lab Implementation - Performance Improvement
3. Digital Technologies Impacting Smart Labs
Internet of Things
IoT - Key Companies to Watch
Cloud Technology
Cloud Technology - Key Companies to Watch
Robotic Automation
Robotic Automation - Key Companies to Watch
Artificial Intelligence
Artificial Intelligence - Key Companies to Watch
Big Data
Big Data - Key Companies to Watch
Smart Labs Implementation Journey
4. Market Overview and Forecast - Smart Labs
Adoption Curve for Smart Labs Solutions Across Application Areas
Market Drivers and Restraints
Total Market Forecast for Smart Labs Solutions
Total Market Forecast for Smart Labs Solutions by Applications
Revenue Forecast Discussions
5. Competitive Landscape
Trends Shaping the Smart Labs Ecosystem
Competitive Smart Labs Ecosystem - Top Vendors
Competitive Factors and Assessment
Emerging Business Models
6. Growth Opportunities
Major Growth Opportunities
Growth Opportunity - Smart Labs-as-a-Service
Growth Opportunity - IoT for Workflow Standardization
Growth Opportunity - Digital Twins for Performance Improvement
Growth Opportunity - Edge Computing for Real-time Data Management
7. Conclusion
Strategic Imperatives for Major Stakeholders
Smart Labs Ecosystem of 2025
5 Competitive Factors for Smart Labs Solutions Success
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