The Global Lab Automation Market Size is valued at USD 5.63 billion in 2023 and is predicted to reach USD 10.17 billion by the year 2031 at a 7.75% CAGR during the forecast period for 2024-2031.
By integrating technology into the lab, new and more effective procedures can be enabled and optimized. This is known as laboratory automation. The foundation for improving accuracy, quality, and standardization in clinical, nonclinical, and industrial contexts is laid by laboratory automation. Adopting laboratory automation increases the accuracy of experimental data and aids in speeding up general lab procedures, boosting productivity.
The battle between the top pharmaceutical and healthcare corporations to increase lab automation globally is mostly driven by the market's rising healthcare demand. The market participants are concentrating on offering a variety of tools, equipment, machines, and procedures to enable the creation and production of automated laboratory infrastructure.
Furthermore, Players in the market are putting more money and resources into developing cutting-edge processes and technology. Healthcare costs have increased due to several variables, including the aging population, the incidence of chronic diseases, growing drug prices, healthcare services, and administrative costs. In addition, the number of hospitals, private labs, clinical research centers, and diagnostics centers is growing, boosting demand for lab automation.
Furthermore, due to the increased need for specialized advanced automated services that remove human error, the market for laboratory automation is expanding. The market participants are coming up with more investments and funds to develop cutting-edge technology and methodologies to win most of the global market share. These participants place a greater emphasis on minimizing manual labor and hands-on time for the customarily labor-intensive activity.
Competitive Landscape:
Some of the Lab Automation market players are:
- Hoffmann-La Roche
- Qiagen N.V
- PerkinElmer Inc
- Thermo Fisher Scientific, Inc
- Siemens Healthineer
- Danaher Corporation
- Agilent Technologies, Inc.
- Bio Tek Instruments, Inc
- Eppendorf A
- Hudson Robotics
- Aurora Biomed Inc
- BMG LABTECH GMBH
- Tecan Group Ltd.
- Hamilton Company
Market Segmentation-
The lab automation market is segmented based on process, type and end users. Based on process, the lab automation market is segmented as continuous flow and discrete processing. By type, the market is segmented into total automation systems, transport mechanisms, liquid handling, sample storage, sample analysis and modular automation systems. End user segment includes as clinical chemistry analysis photometry & fluorometry, immunoassay analysis, electrolyte analysis and other end-uses.
Based On Product, The Total Automation Segment Is A Major Contributor To The Lab Automation Market
The total automation category will hold a major share of the global lab automation market in 2023 due to the numerous advantages that these systems provide. One of the key elements predicted to fuel the segment's growth shortly is the advancements in this discipline in various life science procedures. Systems with total automation are further divided into phases for subsequent processes. Many drug discovery laboratories are now implementing lab automation systems, such as benchtop machine learning systems, to facilitate repetitive processes or technically difficult tasks. The high-end automation in modular systems and instruments offers a wide range of incredibly user-friendly capabilities. Most instruments may be connected to IT to fully utilize laboratory automation, which provides automated solutions for each lab operation stage.
The Discrete Processing Segment Witnessed Growth At A Rapid Rate
The discrete processing segment is projected to grow rapidly in the global lab automation market. This is explained by several benefits discrete processing has over continuous flow, which is expected to encourage adoption during the projected period. Every sample is given its own discrete space in discrete processing, which improves the investigation samples used in this method. Thus, unlike continuous flow processing, there is no waste of extra reagents used for the flow. Because of this category's many benefits over continuous processing, it is expected to increase significantly during the projected period.
The North America Lab Automation Market Holds A Significant Regional Revenue Share
The North America lab automation market is expected to report the highest market share in revenue shortly. The region's microbiological laboratories look for cutting-edge technical solutions to handle the high volume of samples and scarce staffing. In the US, a few significant firms, like BD Kiestra and Copan Diagnostics Inc., commercialize partial or full lab automation systems for bacteriology. This creates a significant opportunity for lab automation suppliers, which might accelerate the market's expansion over the forecast period. In addition, Asia Pacific is projected to grow rapidly in the global Lab Automation market due to growing environmental concerns, rapid industrialization, government initiatives, and increasing funding in various industries.
Lab Automation Market Report Scope:
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Report Attribute |
Specifications |
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Market size value in 2023 |
USD 5.63 Bn |
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Revenue forecast in 2031 |
USD 10.17 Bn |
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Growth rate CAGR |
CAGR of 7.75% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Process, Type And End Users |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
F. Hoffmann-La Roche, Qiagen N.V., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Siemens Healthineers, Danaher Corporation, Agilent Technologies, Inc., Bio Tek Instruments, Inc., Eppendorf AG, Hudson Robotics, Aurora Biomed Inc., BMG LABTECH GMBH, Tecan Group Ltd., Hamilton Company. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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