The study uncovers numerous facets such as opportunities, drivers and trends that have an influence over the growth of the entire market.
In 2021, the market for lab automation was worth US$1.73 billion. The total market is anticipated to increase at a CAGR of 9.6% through 2027, reaching US$ 3 Billion by that time due to the increasing usage of lab automation across numerous end use sectors.
The study uncovers numerous facets such as opportunities, drivers and trends that have an influence over the growth of the entire market. Moreover, along with current market scenario and historical market data, this research report has outlined future market projections that reveal the future direction of the global market in terms of growth rate and valuation of the entire market considering all crucial market segments that define the global market. This data has been assessed across key regions in the globe to get a clear market picture in the current timeline as well as in the future.
Global Lab Automation Market: Segmental Analysis
The global lab automation market has been segmented by component, by application, by end user and by region.
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Global Lab Automation Market: Dynamics
Advancements in lab automation, increasing adoption of lab automation across the globe in several end use industries and applications, rising funding for research and development, availability of compatible solutions for lab automation, rising strategic consolidation among service providers and end users, increasing preference for branded products, increasing technological changes, ease in FDA clearance, increasing academic research activities, favourable government policies, demand for automation in sample handling processes in laboratories, increasing reliance of scientists and researchers on the automation technology, increasing CROs (Contract Research Organizations) and increasing distribution and collaboration agreements to increase service and product reach are supporting the growth of the global lab automation market. Also, lab automation is considered as a single solution for multiple functionalities, which is triggering the adoption of lab automation thus driving the global market. However, aspects like lack of healthcare infrastructure in certain developing regions, higher initial cost, challenges in vendor selection and complex integration of lab tools have been posing challenges to the growth of the global market.
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Key Segments Covered in the Lab Automation Market Report
Component Type
Software
Application
End User
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Key Regions
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 16, 2022