The global laboratory automation market reached a value of US$ 4.85 Billion in 2019. Laboratory automation can be defined broadly as any device, software or process that requires minimal human intervention and improves the efficiency of the laboratory. Laboratory automation may include the use of robots, conveyors, software, machine vision, etc. Looking forward, IMARC Group expects the global laboratory automation market to exhibit moderate growth during 2020-2025.
Laboratory automation has played a major role in saving time, reducing costs, eliminating human error and improving the efficiency of experiments. As a result, automation has moved past the “nice to have” to the “must have” in the modern laboratory. Laboratory teams today are continually looking for ways to increase their efficiency and improve the long-term value of their operations. Organisations are now adopting laboratory automation solutions to enhance their work and maximize the efficiency of their testing processes.
This report provides a deep insight into the global laboratory automation market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the laboratory automation industry in any manner.
Key Questions Answered in This Report:
The global laboratory automation market was worth around US$ 4.85 Billion in 2019.
According to the estimates by IMARC Group, the global laboratory automation market will exhibit moderate growth during the next five years.
The increasing adoption of laboratory automation to maximize the accuracy of lab results and reduce the proximity of human errors represents one of the key drivers for the global laboratory automation market.
The commercialization of automated specimen separation technique, that deploys automated centrifugal force on the blood specimen, represents one of the key trends in the global laboratory automation market.
The sudden outbreak of COVID-19 has increased the demand for automated tools in several laboratory procedures to mitigate the chances of disease transmission via human handling of test samples.
On the basis of the type, the market has been bifurcated into modular automation and whole lab automation, where modular automation holds the largest market share.
On the basis of the equipment and software type, the market has been classified into automated clinical and drug discovery laboratory systems. At present, automated clinical laboratory systems lead the global market.
On the basis of the end user, the market has been bifurcated into biotechnology and pharmaceutical companies, hospitals and diagnostic laboratories, and research and academic institutes. In this segment, biotechnology and pharmaceutical companies currently account for the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
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