Global Laboratory Automation Systems Market Size 2024, Forecast To 2033
11 Mar, 2024
The laboratory automation systems market has experienced substantial growth, escalating from $5.28 billion in 2023 to $5.57 billion in 2024, with a compound annual growth rate (CAGR) of 5.6%. The growth in the historical period is attributed to the increase in medical errors, the growth of healthcare facilities, economic expansion in emerging markets, a rise in healthcare expenditure, and the rapid growth of the elderly population. Moving forward, the market is expected to sustain strong growth, reaching $6.86 billion in 2028, with a CAGR of 5.3%. The projected growth is associated with rapid technological advances, a rising aging population, the increasing prevalence of chronic diseases, the impact of COVID-19, and an increase in lifestyle diseases. Notable trends for the forecast period include a focus on investing in research and development, collaboration with artificial intelligence companies, partnerships with other players in the market, the introduction of more efficient laboratory automation solutions, the incorporation of RFID technology, the launch of new product releases and approvals, and receiving aid from government initiatives.
Global Laboratory Automation Systems Market Key Driver
The automated laboratory systems market experiences growth due to increased demand for microbiology testing and the standardization of sample-collection devices for culture-based laboratory testing. Automation, facilitated by systems like Becton Dickinson’s Kiestra TLA and Copan’s WASPLab, is replacing manual methods, enhancing laboratory efficiency, turnaround time, and overall testing quality. The adoption of total laboratory automation in culture-based microbiology testing propels the market forward. The ongoing shift towards automated laboratory systems is anticipated to shape the market size in 2023, continuing its impact through 2024 and 2028.
Get A Free Sample Of The Global Laboratory Automation Systems Market ReportGlobal Laboratory Automation Systems Market Segments
The laboratory automation systems market covered in this report is segmented –
1) By Type: Modular Automation, Total Lab Automation
2) By Equipment And Software: Automated Liquid Handling, Microplate Readers, Standalone Robots, Automated Storage, Retrieval
3) By Application: Drug Discovery, Clinical Diagnostics, Genomics Solutions, Proteomics Solutions, Others
4) By End User: Biotechnology And Pharmaceutical Industries, Research Institutes, Hospitals And Private Labs, Academic Institutes
By Geography:The regions covered in the laboratory automation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the laboratory automation systems market in 2023. Western Europe was the second largest region in the global laboratory automation systems market analysis. The regions covered in the laboratory automation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Laboratory Automation Systems Industry Players
Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific, Agilent Technologies, Inc., Tecan Group Ltd., PerkinElmer, Inc., F. Hoffmann-La Roche AG, QIAGEN N.V., Becton Dickinson and Company, Siemens AG, Brooks Automation, Inc., Hamilton Company, Eppendorf Ag, Biotek Instruments, Inc., Bee Robotics Ltd, Gilson Inc., Labware, Artificial, Intersystems, Biomerieux, Cerner Corporation, LTS Health, Omnia Health, Sysmex, Formulatrix, Beckman Coulter, Festo ZA
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Laboratory Automation Systems Market Overview
Laboratory automation systems refer to the use of instruments to carry out laboratory tasks with a minimum of human involvement. Clinical laboratories operate more efficiently because of laboratory automation, which helps to standardise tests.
Laboratory Automation Systems Global Market Report 2023 provides data on the global laboratory automation systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The laboratory automation systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.