$10.5+ Bn Lab Automation Markets - Global Forecast to 2030: Increasing Focus on Food Quality and Safety, Rising Awareness & Growing Adoption of Personalized Medicines

2024-02-26
PRNewswire
DUBLIN, Feb. 26, 2024 /PRNewswire/ -- The "Lab Automation Market by Product (Liquid Handling, Nucleic Acid Purification System, Microplate Reader, ELISA, Storage & Retrieval, LIMS, ELN Software), Application (Drug Discovery, Diagnostics, Genomics & Proteomics), End User - Global Forecast to 2030" report has been added to
ResearchAndMarkets.com's offering.
The global lab automation market is projected to reach $10.54 billion by 2030, at a CAGR of 7.2% from 2023 to 2030.
This market is driven by the increasing pharmaceutical and biotech R&D expenditure, the growing demand for automated labs and instruments, the increasing prevalence of chronic and infectious diseases, and government initiatives supporting life sciences R&D.
Furthermore, growth in genomics & proteomics research, increasing focus on food quality and safety, rising awareness & growing adoption of personalized medicines, and emerging economies provide a significant growth opportunity for this market. However, the high costs of advanced lab automation equipment and funding and infrastructure limitations in developing countries may restrain the growth of this market. Additionally, equipment maintenance and repair and data security and privacy concerns pose a major challenge for the players operating in this market.
Among products, in 2023, the systems segment is expected to account for the largest share of the lab automation market. The large market share of this segment is attributed to the increased focus on drug development, the advantages of automated liquid handling systems to increase efficiency and productivity, reduced manual intervention, increasing prevalence of genetic diseases, and reduced errors.
Among applications, in 2023, the drug discovery segment is expected to account for the largest share of the lab automation market. The increasing pharmaceutical R&D, increased efficiency, high-throughput capability, producing more reproducible results, the ability of lab automation instruments to screen large numbers of compounds, and government initiatives supporting drug discovery and development are expected to boost the growth of this segment.
Among end users, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the lab automation market. The large market share of this segment is attributed to factors such as rising demand for new drug discovery and development, growing focus on increasing overall productivity, and initiatives by pharmaceutical and biotechnology companies to expand their research capabilities by opening new research centers.
An in-depth analysis of the geographical scenario of the global lab automation market provides detailed qualitative and quantitative insights for the five major geographies: North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India), Latin America, and the Middle East & Africa.
In 2023, North America is expected to account for the largest share of the global lab automation market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region of the global lab automation market. This growth is primarily driven by the expanding pharmaceutical & biotechnology industry in the region, rapidly improving healthcare infrastructure, increasing pharmaceutical research, and increasing government funding.
Competition Analysis
Key Growth Strategies
Competitive Benchmarking
Competitive Dashboard
Industry Leaders
Market Differentiators
Vanguards
Emerging Companies
Market Share Analysis (2022)
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
Revvity, inc. (Formerly Known As PerkinElmer, Inc.)
Scope of the Report:
Lab Automation Market Assessment-by Product
Systems
Automated Liquid Handling Systems
Automated Nucleic Acid Purification Systems
Automated Microplate Readers
Automated Storage and Retrieval Systems
Other Lab Automation Systems
Note: Other lab automation systems include automated incubators, automated cell counters, and cell imaging systems.
Software
Laboratory Information Management Systems (LIMS)
Electronic Lab Notebook (ELN)
Workstation/Equipment Automation Software
Scientific Data Management Systems (SDMS)
Lab Automation Market Assessment-by Application
Drug Discovery
Clinical Diagnostics
Genomics & Proteomics Research
Other Applications
Lab Automation Market Assessment-by End User
Hospitals & Diagnostic Laboratories
Research & Academic Institutes
Other End Users
Lab Automation Market-by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/7s3ias
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