Global Laboratory Automation Market Report and Forecast 2024-2032

Global Laboratory Automation Market Outlook

The global laboratory automation market size reached a value of almost USD 5.89 billion in the year 2023. The laboratory automation market is further expected to grow at a CAGR of 5.50% between 2024 and 2032 to reach a value of almost USD 9.53 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The global laboratory automation market is driven by an increase in favourable government initiatives across the world. Laboratory automation is a strategy to optimize, develop, research, and capitalize on technologies that help in upgrading the existing process. Laboratory automation generally comprises of multiple automated devices and programmed algorithms that increase efficiency as well as make work easier for scientific research in the laboratories. This helps in the performance of highly repetitive tasks by saving human time, cuts cost of operations, increases profitability, and uplifts the scope of work procedure. Automation has become an indispensable part of the modern industry. All industries are moving towards it to maintain their standard of work. 

North America is predicted to have the highest share in the laboratory automation market. They have escalated the spending on healthcare and increased research and development activities involving trials that are necessary to be performed without a window of error and precision. Along with North America, Asia Pacific is estimated to grow at the highest CAGR due to improving infrastructure and healthcare, and advancements in the R&D division.  

Market Segmentation

Laboratory automation is referred to as a multi-disciplinary strategy that uses devices and software to enhance the efficiency of scientific research in laboratories with the help of automated systems. Lab automation has numerous properties. It increases productivity, decreases errors, saves ample time, makes multiple testing possible in less time, decreases wastage, and optimizes the structure of work. A useful feature of automation is that it requires minimal monitoring and goes on with external observation for multiple hours.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The laboratory automation market is bifurcated on the basis of type:

• Modular Automation
• Whole Lab Automation

Among all of these, modular automation exhibits the most popular product type.

On the basis of equipment and software type, the market is divided into:

• Automated Clinical Laboratory Systems
  • Workstations
  • LIMS (Laboratory Information Management Systems)
  • Sample Transport Systems
  • Specimen Handling Systems
  • Storage Retrieval Systems
• Automated Drug Discovery Laboratory Systems
  • Plate Readers
  • Automated Liquid Handling Systems
  • LIMS (Laboratory Information Management Systems)
  • Robotic Systems
  • Storage Retrieval Systems
  • Dissolution Testing Systems

At present, automated clinical laboratory systems hold the majority of the overall market share.

On the basis of end-user, the laboratory automation market is segmented into:

• Biotechnology and Pharmaceutical Companies
• Hospitals and Diagnostic Laboratories
• Research and Academic Institutes

Out of these, biotechnology, and pharmaceutical companies account for the leading share in the market.

The report also covers the regional markets of laboratory automation like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

The global laboratory automation market is driven by the increasing number of retiring professionals, along with the declining number of accredited training programs. On account of this, a rising trend toward automation has been observed to maintain the influx of samples with lowered chances of errors. In addition to this, the use of automated systems in laboratories has also improved the productivity of the drug discovery process. High demand for accuracy in performing tasks will be an essential factor in driving the laboratory automation market. Additionally, governments of numerous countries are investing in research and development (R&D). For example, governments have undertaken initiatives to accelerate test speeds and decrease cost inputs across automated laboratories. This has led to an increase in the market growth of laboratory automation. The increasing demand for new drugs and clinical diagnostics will propel the market to grow a lot in the forecast period. However, the high capital needed for setup is expected to inhibit the growth of laboratory automation.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global laboratory automation market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Danaher Corp.
• Abbott 
• PerkinElmer Inc.              
• Tecan Trading AG            
• Siemens Healthcare GmbH 
• ThermoFisher Scientific Inc.
• Agilent Technologies, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report