DUBLIN--(BUSINESS WIRE)--The "Global Lab Automation Market Size, Share & Trends Analysis Report by Process (Continuous Flow, Discrete Processing), by Automation Type (Total Automation Systems, Modular Automation Systems), by End Use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global lab automation market size is expected to reach USD 8.9 billion by 2028 and is expected to expand at a CAGR of 8.1%.
Key drivers of the market include a rise in the gap between the availability of trained laboratory personnel and the demand for laboratory procedures and high reproducibility and accuracy obtained through lab automation.
Other drivers facilitating growth include smaller volumes of reagents and samples required, personnel safety, progressing drug discovery, miniaturization of the process thus leading to low reagent cost, and clinical diagnostics.
The market is anticipated to witness various lucrative opportunities for growth owing to an increasing prevalence of infectious diseases and a rising number of clinical studies which are expected to increase the number of diagnostic tests performed in the laboratories.
The rise in applications of lab automation is one of the major factors anticipated to boost growth during the forecast period. Clinical chemistry applications have been replaced by lab automation for tasks such as solid-phase extraction, powder dosing, dilution to weight, sample extraction, and sample preparation for analysis facilitating increasing productivity, reliable results, and interpretation, safer working conditions for laboratory personnel, lower costs, reduced laboratory space, and reduced turnaround times.
Similarly, for synthetic biology workflow processes, tasks such as DNA fragment construction, the culture of the host organism, colony selection, final data collection, and analysis have been replaced by automation processes. Therefore, an increase in the number of applications is expected to fuel their adoption in the near future.
North America's market accounted for the largest revenue share in 2020 and is expected to maintain its position during the forecast period. The growth is attributed to well-established healthcare infrastructure, an increase in the adoption of these systems, the local presence of major players, a supportive reimbursement framework, and the increasing prevalence of chronic and infectious diseases.
Major players are mostly involved in contributing to innovations and technological advancements, impacting market growth positively. A rise in product launches undertaken by dominant players is anticipated to boost the market growth.
This initiative was undertaken by the company to enhance the distribution of its products in Europe. Such initiatives are expected to drive the market over the forecast period.
Lab Automation Market Report Highlights
- The continuous flow segment dominated the overall market in terms of revenue in 2020 owing to the high adoption of continuous flow in laboratories for providing high-quality services
- The total automation systems segment accounted for the largest revenue share in 2020 owing to various benefits offered by these systems, advancements in the field of automation, and a rise in demand for flexible automation solutions for analytical measurements
- The clinical chemistry analysis segment held the largest revenue share in 2020 owing to technological advancements, increase in automation systems provided by market players, and growth in the usage of automated systems owing to their benefits, such as the reduced risk of contamination and elimination of human error, among other benefits
- The market is anticipated to be dominated by the North American region owing to the presence of well-established healthcare infrastructure, which has led to an increase in the adoption of laboratory automation systems in the region
Market Driver Analysis
- Advantages Offered By Lab Automation
- Increasing Demand For Miniaturization
- Rise In Applications Of Lab Automation
Market Restraint Analysis
- Low Uptake In Small And Medium Sized Laboratories
Market Opportunities Analysis
- Emerging nations in developing regions
- Rising usage in microbiology and biobanking applications
Market Challenges Analysis
- Challenges Associated with Implementation of Lab Automation
- F. Hoffmann-La Roche
- Qiagen N.V.
- Perkinelmer Inc.
- Thermo Fisher Scientific, Inc.
- Siemens Healthineers
- Danaher Corporation
- Agilent Technologies
- Bio Tek Instruments Inc.
- Eppendorf Ag
- Hudson Robotics
- Aurora Biomed Inc.
- Bmg Labtech Gmbh
- Tecan Group Ltd.
- Hamilton Company
For more information about this report visit https://www.researchandmarkets.com/r/uer0qg