Global Laboratory Automation Market Size To Worth USD 11.24 Billion By 2033 | CAGR Of 6.3%
Category: HealthcareGlobal Laboratory Automation Market Size To Worth USD 11.24 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Laboratory Automation Market Size is to Grow from USD 6.1 Billion in 2023 to USD 11.24 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.3% during the projected period.
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Browse key industry insights spread across 190 pages with 110 Market data tables and figures & charts from the report on the “Global Laboratory Automation Market Size, Share, and COVID-19 Impact Analysis, By Process (Continuous Flow, and Discrete Processing), By Automation Type (Total Automation Systems and Modular Automation Systems), By End User (Pharmaceutical and Biotechnology Companies, Environmental Testing Laboratories, The Food & Beverage Industry, Forensic Laboratories, Hospitals & Diagnostic Laboratories, and Research & Academic Institutions), 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/laboratory-automation-market
Laboratory automation is a multidisciplinary, creative method utilized in the lab to boost results, cut down on interruptions, and improve process efficiency. Laboratory automation is automating and streamlining laboratory operations using contemporary instruments and technology, such as sample handling, analysis, and data administration. It involves maximizing processes, throughput, and accuracy while reducing manual intervention and human error through the integration of robotics, software, and instrumentation. Laboratory automation is crucial in many scientific domains, including pharmaceuticals, biotechnology, clinical diagnostics, and academic research, since it improves the efficiency and repeatability of experimental procedures. Furthermore, a growing number of businesses, including biotechnology, pharmaceuticals, and healthcare, require more productivity and efficiency from research and development. Lab automation technologies offer a solution by significantly lowering manual labor, lowering mistakes, and speeding up experimental operations. This improved efficiency has the following effects speedier results, reduced expenses, and increased competitiveness. Furthermore, the increasing range of benefits that process automation offers is one of the primary factors of the market's growth. Clinical labs can gain a lot by switching from manual to automated laboratory operations. A few of the key advantages of lab automation include increased productivity, secure working environments, reliable results, and significant savings on time, effort, and product costs. However, a lower return on investment, more downtime owing to technical issues, and operational inefficiencies might result from the lack of skilled workers.
The continuous flow segment is anticipated to hold the greatest share of the global laboratory automation market during the projected timeframe.
Based on the process, the global laboratory automation market is divided into continuous flow and discrete processing. Among these, the continuous flow segment is anticipated to hold the greatest share of the global laboratory automation market during the projected timeframe. One of the most widely used techniques, continuous flow is effective when a large number of samples need to be evaluated. Segment expansion will also be driven by the biotechnology and pharmaceutical industries' strong demand for continuous flow processes, as well as by industry participants' increased efforts to provide innovative products with continuous flow processes.
The modular automation systems segment is anticipated to grow at the fastest pace in the global Laboratory Automation market during the projected timeframe.
Based on the automation type, the global Laboratory Automation market is divided into total automation systems and modular automation systems. Among these, the modular automation systems segment is anticipated to grow at the fastest pace in the global Laboratory Automation market during the projected timeframe. Due to the mix-and-match features and flexibility of modular automation systems. Growing end-user adoption of modular systems is another factor driving the market forward. These kinds of systems are suitable for laboratories that need to automate specific processes.
The pharmaceutical and biotechnology companies segment is estimated for the largest revenue share in the laboratory automation market during the estimated period.
Based on the end user, the global laboratory automation market is classified into pharmaceutical and biotechnology companies, environmental testing laboratories, the food & beverage industry, forensic laboratories, hospitals & diagnostic laboratories, and research & academic institutions. Among these, the pharmaceutical and biotechnology companies segment is estimated for the largest revenue share in the laboratory automation market during the estimated period. The demand for lab automation has increased due to the ever-increasing complexity and challenge of laboratory workflows, as well as the growing need for advanced testing to enable proper diagnosis and treatment for a wide range of illnesses. The potential market for lab automation systems was increased by the biopharmaceutical industry's introduction of incredibly accurate diagnosis and treatment options. As a result, there will be a greater demand for biotech and pharmaceutical companies to expand in the coming years.
North America is expected to hold the largest share of the global laboratory automation market over the forecast period.
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North America is expected to hold the largest share of the global laboratory automation market over the forecast period. Due to its well-established healthcare infrastructure and the increasing demand for automation systems in labs because of its consistency, accuracy, and speed, the region has seen fast growth. Government regulations that support research and the growing need for integrated laboratory systems are some of the reasons driving the market. The demand for high throughput analysis is rising, and industry rivals will probably respond to this development with a range of strategic measures.
Asia Pacific is predicted to grow at the fastest pace in the global laboratory automation market during the projected timeframe. The number of small and medium-sized laboratories in the area is expected to rise, and industry leaders are expected to invest more in introducing innovative technologies, which will drive the regional market's expansion. Government initiatives that support lab automation are another factor fueling the expansion of the regional market.
Major vendors in the Global Laboratory Automation Market include F. Hoffmann-La Roche Ltd., Hamilton Company, Tecan Trading AG, BMG LABTECH GmbH, Aurora Biomed Inc., Hudson Robotics, Eppendorf SE, Agilent Technologies, Danaher, Thermo Fisher Scientific, Siemens Healthcare GmbH, PerkinElmer, and Others
Recent Developments
- In May 2023, Opentrons announced the release of the Opentrons Flex robot, a new line of reasonably priced, simple-to-program lab robots for handling liquids that aim to level the playing field for labs of all sizes and make advanced lab automation accessible to more researchers than ever.
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 Laboratory Automation Market based on the below-mentioned segments:
Global Laboratory Automation Market, By Process
- Continuous Flow
- Discrete Processing
Global Laboratory Automation Market, By Automation Type
- Total Automation Systems
- Modular Automation Systems
Global Laboratory Automation Market, By End User
- Pharmaceutical and Biotechnology Companies
- Environmental Testing Laboratories
- The Food & Beverage Industry
- Forensic Laboratories
- Hospitals & Diagnostic Laboratories
- Research & Academic Institutions
Global Laboratory Automation Market, Regional Analysis
- 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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