Evolve Business Intelligence has published a research report on the Global Lab Automation Market, 2023–2033. The global Lab Automation market is projected to exhibit a CAGR of around 6.76% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Lab Automation Market: Thermo Fisher Scientific Inc, Agilent Technologies Inc, Danaher Corporation, PerkinElmer Inc, Siemens Healthineers, Tecan Group Ltd, Roche Holding, Hamilton Company, Bio-Rad Laboratories Inc, Beckman Coulter Inc.
Market Highlights
The Lab Automation market is projected to be valued at USD 16.74 Billion by 2033, recording a CAGR of around 6.76% during the forecast period. Lab automation refers to the use of technology and automated processes to streamline and optimize laboratory workflows, experiments, and data analysis. It involves the integration of various instruments, robotics, software, and data management systems to enhance efficiency, accuracy, and productivity in scientific research and testing. Lab automation eliminates manual and repetitive tasks, enabling scientists to focus on more complex and critical aspects of their work, while also minimizing errors and improving reproducibility. It plays a crucial role in accelerating research and development, increasing throughput, and promoting scientific innovation across various disciplines, including pharmaceuticals, biotechnology, genomics, and diagnostics.
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Segmental Analysis
The global Lab Automation market has been segmented based on Equipment and Software, Application, End-user, and region.
Based on the Equipment and Software, the Lab Automation market is segmented based on Automated Workstations, Off-the-shelf Automated Workcells, Robotic Systems, and Automated Storage & Retrieval Systems (ASRS). Automated Workstations are expected to have the largest market share throughout the forecast period, while Robotic Systems based is expected to grow at the fastest rate.
Based on the Application, the global Lab Automation market has been divided into Drug Discovery, Clinical Diagnostics, Genomics Solutions, and Proteomics Solutions. The Drug Discovery segments are anticipated to dominate the market.
Based on the End user, the global Lab Automation market has been divided into Biotechnology & Pharmaceutical Industries, Research Institutes, and Others. The Pharmaceutical Industries segments are anticipated to dominate the market.
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Regional Analysis
The Lab Automation market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In North America, the Lab Automation market is driven by factors such as the presence of advanced healthcare infrastructure, a strong focus on research and development activities, increasing adoption of technology-driven solutions, and government initiatives promoting laboratory automation to enhance efficiency and productivity. The Lab Automation market in Europe is driven by factors such as a well-established healthcare system, growing demand for personalized medicine, advancements in genomics and proteomics research, increasing emphasis on precision diagnostics, and collaborations between academia, industry, and healthcare organizations to drive innovation in laboratory automation. In the Asia-Pacific region, the Lab Automation market is driven by factors such as rapid industrialization, rising healthcare expenditure, expanding biotechnology and pharmaceutical sectors, growing research and development activities, increasing demand for efficient and cost-effective laboratory processes, and government initiatives to promote healthcare infrastructure development. The Lab Automation market in Latin America is driven by factors such as improving healthcare infrastructure, increasing investments in research and development, growing awareness and adoption of advanced technologies, rising demand for accurate and timely diagnostics, and collaborations between public and private sectors to enhance laboratory capabilities. In the Middle East, the Lab Automation market is driven by factors such as investments in healthcare infrastructure, the rising prevalence of chronic diseases, government initiatives to promote research and development in life sciences, increasing demand for quality healthcare services, and growing adoption of laboratory automation to improve diagnostic accuracy and efficiency. The Lab Automation market in Africa is driven by factors such as improving healthcare access and infrastructure, increasing investments in healthcare facilities and research institutions, rising demand for point-of-care diagnostics, advancements in molecular biology and genetics research, and initiatives to strengthen healthcare systems and address infectious diseases.