Lab Automation Market: Comprehensive Analysis of Factors That Drive Market Growth (2030)
Laboratory automation is a multi-disciplinary tactic to research, improve, optimize and capitalize on technologies in the laboratory that facilitate new and improved processes. The amount of automation that any lab requires depends on its workflow. The most broadly known application of laboratory automation technology is laboratory robotics. More usually, the field of laboratory automation comprises many different automated laboratory instruments, devices software algorithms, and methodologies used to allow, expedite and raise the efficiency and effectiveness of scientific research in laboratories.
Demand Scenario
The global laboratory automation market was USD 3.78 billion in 2018 and is estimated to reach USD 5.34 billion by 2025 at a CAGR of 5.06% during the forecast period
Growth by Region
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North America leads the market owing to the growing adoption of lab automation systems, execution of the Affordable Care Act (ACA) in 2010 and economy stimulus programs such as increased funds for the National Institutes of Health (NIH) and the National Science Foundation (NSF), and rise in R&D activities by biotechnology and pharmaceutical companies.
Drivers and Restraints
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The key factors driving the market growth are process miniaturization, high demand for lab automation equipment in drug discovery and clinical diagnostics, higher reproducibility and accuracy, and large workforce demand and supply gap.
Industry Trends and Updates
The automated workstations segment account for the largest market share in 2018 owing to the high demand for automation in liquid. On the basis of application, the genomics solutions segment is likely to grow at the highest CAGR due to the use of automation is on the rise in genomics for high-throughput requirements, providing greater reproducibility and output as compared to manual methods.
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