By GlobeNewswire – Press Releases
New York, United States , June 27, 2024 (GLOBE NEWSWIRE) — 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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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.
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.”
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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.
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North America is expected to hold the largest share of the global laboratory automation market over the forecast period.
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.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the 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.
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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.
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
- 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
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Source: GlobeNewswire – Press Releases