
Total Lab Automation Market | Pharmaceutical And Biotechnology Companies Segment Witnessed Rapid Growth - Here's Why
Report Attribute | Specifications |
Market Size Value In 2022 | USD 508.9 Mn |
Revenue Forecast In 2031 | USD 1,256.1 Mn |
Growth Rate CAGR | CAGR of 12.1% from 2024 to 2031 |
Quantitative Units | Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
Historic Year | 2019 to 2022 |
Forecast Year | 2024-2031 |
Report Coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered | By Application, Type of Instrument, End-User |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
Market Dynamics:
Drivers-
The primary factor boosting the global market is increased demand for process miniaturization. One of the primary motivations for the use of automated technologies in clinical laboratories is to hasten the miniaturization of research processes in order to derive solutions for various difficult lab automation processes in applications such as microbiology, biotechnology, and clinical chemistry. Furthermore, miniaturization facilitates cell expansion, monitoring, and cultivation, which reduces turnaround times, particularly in point-of-care settings. Furthermore, the expanding breadth of lab automation applications will likely fuel market expansion. Lab automation has revolutionized a variety of previously manual laboratory processes.
Challenges:
With the rapid growth of laboratory automation systems, there has been an increase in the demand for qualified professionals who can design, operate, maintain, and troubleshoot increasingly sophisticated and technologically advanced systems. However, a significant scarcity of people with competence in robotics, software programming, and automation-specific knowledge causes issues in various geographies and businesses. This scarcity of competent labour impedes the smooth adoption and effective use of cutting-edge automation technology. Without workers capable of leveraging the full potential of such technology, laboratories investing in it may fail to maximize its benefits.
Regional Trends:
The North American Total Lab Automation Market is expected to record a major market revenue share and is projected to grow at a high CAGR in the near future. Increased knowledge of advanced laboratory automation systems, an increase in the number of pharmaceutical businesses, and an increase in the demand for laboratory automation systems all contribute to market growth. Pfizer, Novartis, J&J, GlaxoSmithKline, and Novartis are among the significant pharmaceutical businesses headquartered in this region. The government also has a high concentration of contract research organizations (CROs). IQVIA, Laboratory Corp. of America Holdings, Syneos Health, and Parexel International Corp. are some of the country's leading CROs. The country's market is very competitive due to the presence of all major industry participants, as well as tight FDA regulations. Market businesses in the country are rising, utilizing robots and automation in labs to gain an advantage over competitors.
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Segmentation of Total Lab Automation Market-
By Type of Instrument-
- Automated Liquid Handling Systems Automated Microplate Readers Automated Sampling Systems Analyzers Automated Storage and Retrieval Systems (ASRS) Other Instruments
By Application-
- Diagnostics Genomic Solutions Microbiology Drug Discovery Proteomic Solutions Other Applications
By End-User-
- Pharmaceutical and Biotechnology Companies Research and Diagnostic Laboratories Other End-Users
By Region-
North America-
- The US Canada Mexico
Europe-
- Germany The UK France Italy Spain Rest of Europe
Asia-Pacific-
- China Japan India South Korea South East Asia Rest of Asia Pacific
Latin America-
- Brazil Argentina Rest of Latin America
Middle East & Africa-
- GCC Countries South Africa Rest of Middle East and Africa
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