As per the latest report by IMARC Group, entitled “Laboratory Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on laboratory automation market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global laboratory automation market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What is Laboratory Automation?
Laboratory automation represents the process of using numerous devices and software to ensure the accuracy and safety of a wide array of research activities and sample management. It generally comprises conveyor systems, machine vision, robots, etc. Laboratory automation aids in the real-time analysis of tests by eliminating human errors and considerably minimizing human workload. It also helps to enhance the testing capacity, reduces the cost per test, decreases turnaround time, etc. Laboratory automation allows researchers to focus on several core activities. It enables laboratories to deliver test reports quickly, thereby ensuring that actionable information is available on short notice for reviewing purposes. Consequently, this process is gaining extensive traction across the globe.
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What are the growth prospects and trends in the laboratory automation industry?
The escalating demand for personalized medications to effectively treat illnesses is primarily driving the laboratory automation market. Additionally, the growing investments by government bodies in R&D activities to produce novel drugs are further bolstering the market growth. Besides this, the widespread adoption of laboratory automation, as it aids in reducing overall labor costs and boosting productivity, is acting as another significant growth-inducing factor. Moreover, it is utilized to minimize the wastage of consumables, samples, reagents, etc., which is positively influencing the global market. Apart from this, the inflating need for the miniaturization of laboratory processes to perform complex tasks in clinical chemistry, microbiology, biotechnology, etc., is also stimulating the market growth. Furthermore, the increasing usage of microfluidic ships or lab-on chips in advanced biological research, including proteomics and genomics, is anticipated to fuel the laboratory automation market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Laboratory Automation Market Segmentation:
Our report has categorized the market based on region, type, equipment/software type and end use.
Breakup by Type:
Breakup by Equipment and Software Type:
Breakup by End-Users:
Breakup by Region:
Key highlights of the report:
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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