Lab Automation Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

 

Lab Automation

A multidisciplinary method called lab automation is used to create and improve laboratory technology in order to enhance medical testing and procedures. Automated procedures, which could be risky and prone to error, have taken the place of the manual ones. Over the course of the forecast period, rising demand for lab automation in the pharmaceutical and biotechnology industries is anticipated to drive market expansion. High-end automated tools used in laboratories include microplate readers, automated storage and retrieval systems, and automated liquid handling systems. It also includes software to carry out numerous standard lab tasks, including sample analysis, assay execution, sample mixing, sample storage, and many more tasks.

According To Coherent Market Insights, The Global Lab Automation Market Is Estimated To Account For US$ 4,477.0 Mn In Terms Of Value In 2020 And Is Expected To Reach US$ 6,262.3 Mn By The End Of 2027.

Over the course of the forecast period, rising demand for Lab Automation Market in the pharmaceutical and biotechnology industries is anticipated to drive market expansion. High-end automated tools used in laboratories include microplate readers, automated storage and retrieval systems, and automated liquid handling systems. It also includes software to carry out numerous standard lab tasks, including sample analysis, assay execution, sample mixing, sample storage, and many more tasks.

Rising demand for process automation to ensure food safety and regulation of Lab Automation Market workflows are two additional factors boosting the industry's expansion. However, a poor rate of automation adoption in small and medium-sized labs and a protracted incubation period for workflow execution are predicted to impede the growth of the global market.

The Lab Automation Market is divided into equipment and software categories based on type. The automated workstations sector had a sizable sales share in 2021 and enjoyed a profitable CAGR during the projection period. This is related to the various automated workstation types that easily integrate with the already-existing instruments and provide flexibility globally. During the forecast period, the automated storage and retrieval systems segment is anticipated to expand profitably. This is due to the increasing efforts being made by significant market participants to develop this kind of technology.

Major Vendors are Tecan Group Ltd., PerkinElmer Inc., Danaher Corporation, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Hamilton Company, COPAN Diagnostics, Inc., Abbot Diagnostics, Eppendorf, Roche Diagnostics, Siemens Healthineers, UiPath, and Porvair Sciences.

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