Global Laboratory Automation Market to Reach US$ 9.4 Billion by 2028, Facilitated by Shift Toward Automated Processes

January 04, 2022 | Technology & Media

According to the latest report by IMARC Group, titled “Laboratory Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global laboratory automation market reached a value of US$ 6.1 Billion in 2022. Laboratory automation, or lab automation, refers to the utilization of a set of instruments for performing lab processes. The equipment used in lab automation is embedded with an interface mechanism to enable different instruments to communicate and move specimens amongst each other. This equipment consists of conveyor belts, circuit boards, programable robotic equipment, a track system, and control software. Laboratory automation offers various benefits, such as reduced test costs, faster processing, modularity, and decreased manual labor. It also eases the interaction with hospital information systems (HIS) and laboratory information systems (LIS). Laboratory automation can be differentiated into autoanalyzer, closed automation, open automation, discrete analysis, single-channel analysis, multiple-channel analysis, random access analysis, and assays.

Global Laboratory Automation Market Trends:

There has been a significant shift from manual intervention to automated processes across clinical laboratories for more reliable results, safer working conditions, improved productivity, and increased savings on space, time and costs. This shift is primarily driving the global lab automation market growth. The escalating demand for miniaturization of research processes for performing complex tasks in microbiology, clinical chemistry, and biotechnology is further fueling the market growth. Other than this, the widespread establishment of research and development (R&D) institutions and pharmaceutical laboratories across the globe is creating a positive outlook for the market. Looking forward, the market is projected to reach a value of US$ 9.4 Billion by 2028, growing at a CAGR of 7.3% during 2023-2028.

Market Summary:

Based on the type, the market has been bifurcated into modular automation and whole lab automation. Currently, modular automation dominates the market.
On the basis of the equipment/software type, the market has been segmented into automated clinical laboratory systems (automated workstations, LIMS, sample transport systems, specimen handling systems and storage retrieval systems) and automated drug discovery laboratory systems (automated plate readers, liquid handling systems, LIMS, robotics, storage retrieval systems and dissolution testing systems). Currently, automated clinical laboratory systems represent the largest segment.
Based on the end-users, the market has been segmented into biotechnology and pharmaceutical companies; hospitals and diagnostic laboratories; and research and academic institutes.
On a regional basis, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America represents the biggest market.
The competitive landscape of the market has also been examined, with some of the key players being Danaher, PerkinElmer, Tecan Group, Thermo Fisher, Abbott Diagnostics, Agilent Technologies, Aurora Biomed, Becton, Dickinson and Company, Biomatrix, Biotech Instruments, Brooks Automation, Cerner, Eppendorf, Hamilton Storage Technologies, LabVantage Solutions, Labware, Olympus, Qiagen, Roche Holding, Siemens Healthcare, etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Equipment and Software Type, End-User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Danaher, PerkinElmer, Tecan Group, Thermo Fisher, Abbott Diagnostics, Agilent Technologies, Aurora Biomed, Becton, Dickinson and Company, Biomatrix, Biotech Instruments, Brooks Automation, Cerner, Eppendorf, Hamilton Storage Technologies, LabVantage Solutions, Labware, Olympus, Qiagen, Roche Holding and Siemens Healthcare
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Laboratory Automation Market to Reach US$ 9.4 Billion by 2028, Facilitated by Shift Toward Automated Processes

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