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Lab Automation Market to Reach $7.1 Billion by 2028 with a Steady 5.8% CAGR

The global lab automation market is projected to reach USD 7.1 billion by 2028 from USD 5.1 billion in 2022, growing at a CAGR of 5.8%

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Lab Automation Market to Reach $7.1 Billion by 2028 with a Steady 5.8% CAGR

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  1. MarketsandMarkets Presents Lab Automation Market worth $7.1 billion by 2028 https://www.marketsandmarkets.com/Market-Reports/lab-automation-market-1158.html

  2. The report "Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End-User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2028", is projected to reach USD 7.1 billion by 2028 from USD 5.1 billion in 2022, growing at a CAGR of 5.8% during the forecast period. Factors such as increasing spending on pharmaceutical R&D, growing food safety concerns, and stringent regulatory control in healthcare are expected to propel the growth of this market. However, the slow adoption of lab automation by small and medium-sized laboratories and the long gestation period for workflow implementation are expected to restrain the market growth. Download a PDF Brochure: https://www.marketsandmarkets.com/pdfdownload

  3. Objectives of the Study • To define, describe, and forecast the lab automation market on the basis of product, application, end user, and region • To provide detailed information regarding the major factors influencing the growth potential of the global lab automation market (drivers, restraints, opportunities, challenges, and trends) • To analyze the micro markets with respect to individual growth trends, future prospects, and contributions to the global Lab automation market • To analyze key growth opportunities in the global lab automation market for key stakeholders and provide details of the competitive landscape for market leaders • To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and the RoE), Asia Pacific (Japan, China, India, Australia, South Korea, and the RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa • To profile the key players in the global lab automation market and comprehensively analyze their market shares and core competencies • To track and analyze the competitive developments undertaken in the global lab automation market, such as product launches, agreements, expansions, and & acquisitions • Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalyst

  4. Software segment to register significant growth rate over the forecast period of 2022-2028 Based on the product type, the lab automation is segmented into automated workstations, off the shelf automated workcells, robotic system, automated storage and retrieval systems tables and other lab automation. Software segment to register significant growth rate over the forecast period of 2022-2028. Robots can carry out repetitive operations like labeling by hand and handling microplates, while motorised pipettes and syringes can handle liquid handling. Additionally, lab automation software can help you save time by making it simple to standardise and manage your workflow. This is expected to drive the growth of the segment. Drug Discovery segment accounted for the largest share of the lab automation in 2022-2028 Based on application, the lab automation is segmented into drug discovery, diagnostics, genomics solutions, proteomics solutions, microbiology, other applications. The drug discovery application segment is estimated to hold the largest market share of the lab automation market during the forecast period. This segment held a share of 38.3% in 2021. The large share of this segment can be attributed to the increasing investments by pharmaceutical and biotechnology companies.

  5. Prominent players in the lab automation are Thermo Fisher Scientific (US), Tecan Group (Switzerland), Danaher Corporation (US), Agilent Technologies (US), F. Hoffmann-La Roche (Switzerland) Becton, Dickinson and Company (US), and Waters Corporation (US), among others.

  6. Company Insights Thermo Fisher Scientific (US) Thermo Fisher Scientific develops, manufactures, sells, and distributes analytical instruments, reagents & consumables, laboratory equipment, and software & services. The company offers a complete and integrated portfolio of solutions and services for clinical science and laboratory research & analysis. The company provides products through brands such as Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services. It operates through four segments—Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Biopharma Services. The Analytical Instruments and Laboratory Products & Biopharma Services segments offer lab automation solutions. Tecan Group (Switzerland) Tecan Group develops, manufactures, and distributes laboratory automation solutions. The company produces robotic sample processors, standalone separation and detection devices, laser scanners, integrated systems, and pumps and valves for high-precision liquid handling. The company operates through two business segments—Life Sciences Business and Partnering Business.

  7. About MarketsandMarkets MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

  8. Contact Us Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC. 630 Dundee Road, Suite 430 Northbrook, IL 60062 USA: 1-888-600-6441 sales@marketsandmarkets.com Press release: https://www.marketsandmarkets.com/PressReleases/lab-automation.asp Research insights: https://www.marketsandmarkets.com/ResearchInsight/lab-automation-market.asp

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