Market Research Report
Lab Automation Market Size, Share & Trends Analysis Report By Process (Continuous Flow, Discrete Processing), By Automation Type (Total Automation Systems, Modular Automation Systems), By End Use, By Region, And Segment Forecasts, 2021 - 2028
|Lab Automation Market Size, Share & Trends Analysis Report By Process (Continuous Flow, Discrete Processing), By Automation Type (Total Automation Systems, Modular Automation Systems), By End Use, By Region, And Segment Forecasts, 2021 - 2028|
Published: July 19, 2021
Grand View Research, Inc.
Content info: 146 Pages
Delivery time: 2-10 business days
The global lab automation market size is expected to reach USD 8.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2021 to 2028. Key drivers of the market include a rise in the gap between the availability of trained laboratory personnel and the demand for laboratory procedures and high reproducibility and accuracy obtained through lab automation.
Other drivers facilitating growth include smaller volumes of reagents and samples required, personnel safety, progressing drug discovery, miniaturization of the process thus leading to low reagent cost, and clinical diagnostics. The market is anticipated to witness various lucrative opportunities for growth owing to an increasing prevalence of infectious diseases and a rising number of clinical studies which are expected to increase the number of diagnostic tests performed in the laboratories.
The rise in applications of lab automation is one of the major factors anticipated to boost growth during the forecast period. Clinical chemistry applications have been replaced by lab automation for tasks such as solid-phase extraction, powder dosing, dilution to weight, sample extraction, and sample preparation for analysis facilitating increasing productivity, reliable results, and interpretation, safer working conditions for laboratory personnel, lower costs, reduced laboratory space, and reduced turnaround times. Similarly, for synthetic biology workflow processes, tasks such as DNA fragment construction, the culture of the host organism, colony selection, final data collection, and analysis have been replaced by automation processes. Therefore, an increase in the number of applications is expected to fuel their adoption in the near future.
North America's market accounted for the largest revenue share in 2020 and is expected to maintain its position during the forecast period. The growth is attributed to well-established healthcare infrastructure, an increase in the adoption of these systems, the local presence of major players, a supportive reimbursement framework, and the increasing prevalence of chronic and infectious diseases.
Major players are mostly involved in contributing to innovations and technological advancements, impacting market growth positively. A rise in product launches undertaken by dominant players is anticipated to boost the market growth. In April 2019, Qiagen launched the QIAstat-Dx in Europe, which provides a fully integrated and one-step molecular analysis of common syndromes and oncological and other diseases. This initiative was undertaken by the company to enhance the distribution of its products in Europe. Such initiatives are expected to drive the market over the forecast period.