Overview and Scope
Lab automation refers to the use of technology and machinery to streamline and
optimize laboratory processes, reducing manual intervention and increasing
efficiency. It is a multi-disciplinary strategy to research, develop, optimize,
and capitalize on technologies in the laboratory that enable new and improved
processes.
Sizing and Forecast
The lab automation market size has grown strongly in recent years. It will grow
from $6.67 billion in 2023 to $7.33 billion in 2024 at a compound annual growth
rate (CAGR) of 9.9%. The growth in the historic period can be
attributed to miniaturization of assays and instruments, advancements in
robotics and automation technologies, increased demand for high-throughput
screening in drug discovery, growth in emphasis on precision and
reproducibility in research, and the need for faster and more accurate
diagnostic testing.
The lab automation market size is expected to see rapid growth in the next few
years. It will grow to $10.80 billion in 2028 at a compound annual growth rate
(CAGR) of 10.2%. The growth in the
forecast period can be attributed to regulatory compliance requirements, demand
for remote access and monitoring, labor shortages and skills gap, growing demand
for high-throughput screening, and cost reduction pressure. Major trends in the
forecast period include integration of artificial intelligence (AI) and machine
learning algorithms, expansion of robotic automation, adoption of modular and
scalable automation solution, increased use of high-throughput screening
technologies, incorporation of advanced imaging and microscopy techniques.
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Segmentation & Regional Insights
The lab automation market covered in this report is segmented –
1) By Stage Of Automation: Pre-Analytical Stage, Analytical Stage,
Post-Analytical Stage, Total Lab Automation
2) By Process: Discrete Processing, Continuous Flow
3) By Application: Diagnostics, Genomic Solutions, Microbiology, Drug
Discovery, Proteomic Solutions, Other Applications
4) By End-User: Pharmaceutical and Biotechnology Companies, Research and
Diagnostic Laboratories, Other End-Users
North America was the largest region in the lab automation market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the lab automation market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for personalized medicine is expected to propel the growth of
the lab automation market going forward. Personalized medicine, also known as
precision medicine, refers to a medical approach that tailors healthcare
decisions, practices, interventions, and treatments to individual patients. The
demand for personalized medicine is on the rise due to several factors,
including advancements in genomics and molecular diagnostics, increased
awareness and education, a growing burden of chronic diseases, and its
cost-effectiveness. Lab automation improves the efficiency, accuracy, and
scalability of laboratory procedures, allowing healthcare professionals and
researchers to develop personalized medicine approaches that improve patient
outcomes and optimize treatment efficacy.
Key Industry Players
Major companies operating in the lab automation market report are Thermo Fisher
Scientific; Becton Dickinson And Company (BD); Agilent Technologies Inc.;
PerkinElmer LLC; Beckman Coulter Inc.; Biomek Inc.; Bio-Rad Laboratories;
QIAGEN N.V.; Tecan Group; Brooks Life Sciences; Hamilton Company; Promega
Corporation; Opentrons Labworks Inc; Analytik Jena AG; Gilson Inc.; Eppendorf
Corporate; Hudson Robotics; Cartesian Therapeutics.
The lab automation market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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