Lab Automation Market– Statistics And Analysis & Forecast To 2028Posted by Mrudula Anil Karmarkar on May 5th, 2023 The global lab automation market size is expected to reach USD 8.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2021 to 2028. 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 Clinical chemistry applications have been replaced by lab automation for tasks such as solid-phase extraction, powder dosing, dilution to weight, sample extraction, and sample preparation for analysis facilitating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DNA fragment construction, the culture of the host organism, colony selection, final data collection, and analysis have been replaced by automation processes.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. In April 2021, Qiagen launched the QIAstat-Dx in Europe, which provides a fully integrated and one-step molecular analysis of common syndromes and oncological and other diseases. 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. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/lab-automation-market/request/rs1 Lab automation uses technology to substitute or streamline the manual manipulation of processes and equipment. Depending on the workflow of a lab the degree of automation is decided. The extended use of automated instruments is most often observed at academic and research institutes to enhance their productivity and decrease the time spent on various tedious tasks. Additionally, the use of automated instruments by drug discovery units of pharmaceutical companies is further anticipated to automate its research phases extensively, propelling market growth. Lab Automation Market Report Highlights
The rise in advantages offered by lab automation is one of the major factors anticipated to boost market growth in the near future. For clinical laboratories, a paradigm shift from complete manual intervention to lab automation possesses several advantages. Some major advantages include increased productivity, reliable results, safe working conditions, and immense savings on time, space, and cost of tests. Lab automation facilitates the usage of laboratory equipment for monotonous tasks such as labeling tubes and sample verifications, and also helps in reducing and minimizing the physical strain that is caused by manual tasks reducing costs incurred and saving lab space. Thus, various advantages offered by the automated systems are expected to encourage small and large laboratories to adopt these workstations in the near future. Increase in demand for miniaturization is another factor expected to impact the market growth significantly in the near future. One of the major causes for the implementation of automated systems and workstations at clinical laboratories is to facilitate miniaturization of research processes in order to develop solutions for various complex lab automation tasks for applications such as biotechnology, microbiology, and clinical chemistry among others. Furthermore, miniaturization of these processes facilitates easy expansion, monitoring, and cultivation of cells increasing turn-around times for point of care settings. List of Key Players of Lab Automation Market
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