Laboratory Automation Systems Market Is Projected To Grow At A CAGR Of 5.8% From 2023 To 2031

(MENAFN- EIN Presswire)

Laboratory Automation Systems Market

Increase in demand for high throughput and efficiency and rise in investment in drug discovery and personalized medicines.

WILMINGTON, DELAWARE, UNITED STATES, September 22, 2023 /EINPresswire/ -- The global Laboratory Automation Systems Market was valued at US$ 6.7 Bn in 2022. It is projected to grow at a CAGR of 5.8% from 2023 to 2031 and reach more than US$ 11.0 Bn by the end of 2031. Laboratory automation systems enable the processing of a large number of samples quickly and accurately, thereby accelerating the drug discovery process, the rise in demand for high throughput and operational efficiency is augmenting the laboratory automation systems market statistics.

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Automation in the laboratory refers to the process of carrying out a number of scientific research tasks with a wide range of different pieces of hardware and software. Robotics, conveyor systems, machine vision, as well as computer hardware and software, are all part of this system, which ensures the accuracy and safety of multiple research operations and sample management.

The elimination of human error and a large reduction for work required of humans both contribute to the improvement of the real-time analysis of testing. It involves automating numerous significant phases in the research process, such as the centrifugation, storage, sorting, decamping, and recapping of samples. In addition to this, it assists research laboratories in expanding their testing capacity and workflow, decreasing their cost per test, and reducing the amount of time, it takes to complete the tests.

The laboratory automation systems market is primarily driven by the growing demand for high-throughput screening and analysis. With the rapid expansion of genomics, proteomics, and drug discovery, there is an increasing need for efficient and accurate processing of large sample volumes. Laboratory automation systems enable scientists to automate repetitive tasks such as pipetting, sample preparation, and data analysis, resulting in a substantial reduction in time and effort required. This not only accelerates the research process but also enhances the quality and reliability of results.

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Key Takeaways from the Market Study

.As of 2022, the laboratory automation market was valued at US$ 6.7 billion
.By type, the equipment segment to enjoy high demand, accumulating a high revenue share during the forecast period.
.Based on application, the clinical diagnostic segment is anticipated to dominate the industry during the forecast period
.Based on end-users, the pharmaceutical and biotechnology companies segment is expected to generate high revenue during the forecast period, as Pharmaceutical and biotechnology companies are constantly seeking new therapeutic compounds and molecules to address unmet medical needs.

Key Players in the Laboratory Automation Systems Market are :

BD, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc., Hitachi High-Tech Corporation, Danaher (Beckman Coulter, Inc.), Abbott, Shimadzu Corporation, and Hudson Robotics, Inc.

Laboratory Automation Systems Market – Key Segments

Type

.Equipment
.Software
.Services

Application

.Clinical Diagnostics
.Drug Discovery & Development
.Genomics & Proteomics
.Others (Microbiology, Biobanking, etc.)

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End-user

.Pharmaceutical & Biotechnology Companies
.Hospitals & Diagnostic Laboratories
.Research & Academic Institutes
.Others (Forensic Laboratories, Food & Beverage Industry)

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Nikhil Sawlani
Transparency Market Research Inc.
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