Global Lab Automation Market Size To Worth USD 9.5 Billion By 2033 | CAGR of 5.81%
Category: HealthcareGlobal Lab Automation Market Size To Worth USD 9.5 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Lab Automation Market is to Grow from USD 5.4 Billion in 2023 to USD 9.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.81% during the projected period.
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Browse key industry insights spread across 265 pages with 110 Market data tables and figures & charts from the report on the "Global Lab Automation Market Size, Share, and COVID-19 Impact Analysis, By Lab Automation Equipment (Automated Workstations, Automated Liquid Handling, Pipetting Systems, and Others), By Application (Drug Discovery, Clinical Diagnostics, Genomics Solutions, and Proteomics Solutions), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/lab-automation-market
Lab automation is the integration of automated technologies into research laboratories, enabling new and enhanced operations. The lab automation system could increase laboratory workflow capacity while maintaining accuracy and dependability for effective treatment processes, hence driving market growth. Lab automation can reduce manual unpredictability and contamination, increasing the quality of results. This will accelerate the expansion of the lab automation industry. The lab automation system may boost laboratory workflow capacity while maintaining accuracy and dependability for effective treatment processes, hence driving market growth. However, the high initial investment could restrict the market growth.
Automated workstations are likely to dominate the market throughout the forecast period.
Based on the lab automation equipment, the global lab automation market is divided into automated workstations, automated liquid handling, pipetting systems, and others. Among these, automated workstations are likely to dominate the market throughout the forecast period. Automated workstations are expected to account for a significant portion of lab automation sales, with integrated workflow solutions in particularly high demand. As clinical diagnostic investigations get more advanced, the demand for innovative imaging, surveillance, and cell detection systems grows, creating an opportunity for major manufacturers to provide new solutions.
Clinical diagnostics hold the biggest market share over the forecast timeframe.
Based on the application, the global lab automation market is divided into drug discovery, clinical diagnostics, genomics solutions, and proteomics solutions. Among these, clinical diagnostics hold the biggest market share over the forecast timeframe. The advancement and acceleration of clinical diagnostics is one area in particular that is contributing to enhanced patient quality of life and a variety of clinical survival metrics. This significant proportion can be attributed to technology advancements, a growth in automated systems supplied by market participants, and an increase in automated system acceptance due to benefits such as reduced contamination risk and the elimination of human error, among others.
North America is having the biggest share of the global lab automation market over the forecast period.
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The region's quick expansion can be attributed to the presence of a well-established healthcare framework, as well as a high demand for laboratory automation systems due to their speed, uniformity, and precision. Rising demand for integrated laboratory systems, combined with supportive government research programs, is propelling the market. Furthermore, increasing demand for high-throughput analysis, as well as a slew of strategic initiatives announced by regional competitors, are likely to propel market growth.
Asia-Pacific is predicted to grow fastest pace throughout the forecast period. The increasing amount of small and medium-sized laboratories in the region, together with increased investments by market leaders in the region to launch breakthrough technologies, are likely to fuel regional market growth. Furthermore, favorable government actions to promote lab automation contribute to regional market growth.
Major vendors in the global lab automation market include Danaher, Agilent Technologies Inc, Eppendorf SE, Hudson Robotics, Aurora Biomed Inc, BMG LABTECH GmbH, Tecan Trading AG, Hamilton Company, F. Hoffmann-La Roche Ltd, QIAGEN, PerkinElmer Inc., Thermo Fisher Scientific Inc, Siemens Healthcare GmbH, Abbott, and Others.
Recent Developments
- In April 2024, Agilent introduced a new lab automation system to increase efficiency. Agilent Technologies Inc. has introduced the ADS 2, an enhanced dilution system designed to boost laboratory operations and analytical testing productivity.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global lab automation market based on the below-mentioned segments:
Global Lab Automation Market, By Lab Automation Equipment
- Automated Workstations
- Automated Liquid Handling
- Pipetting Systems
- Others
Global Lab Automation Market, By Application
- Drug Discovery
- Clinical Diagnostics
- Genomics Solutions
- Proteomics Solutions
Global Lab Automation Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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