Lab Automation Market is forecast to reach a value of US$ 6,262.3 Mn by 2028 at a CAGR of 4.9% between 2021 and 2028

There are several benefits, such as increased personnel safety, and minimized errors associated with the use of this new technology.

SEATTLE, WASHINGTON, UNITED STATES, November 22, 2021 /EINPresswire.com/ — Overview

There are several benefits, such as increased personnel safety, increased productivity, reduced response time, and minimized errors associated with the use of this new technology. These are the benefits of attracting technicians to him. In addition, it is also very useful to manufacture new drugs in a shorter time, which in the past was very expensive and time-consuming.

The global lab automation market is estimated to be worth US$ 4.477 million in 2020, and is projected to attain a market valuation of US$ 6,262.3 million by the end of 2027.

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Drivers

It is expected that starting a new laboratory hearing solution promotes growth of the global lab automation market during the forecast period. February 2020, Copan Diagnostics, Inc. Radiant released a new system for fully automatic sensitivity tests of Kirbybauer.

Opportunities

It is expected that the automation of the research and development laboratory will provide an advantageous growth opportunity for players in the global lab automation market. In August 2020, researchers at the University of Liverpool of the U.K. will inform the development of the Boacistant robot, which can work non-stop for 22 hours a day and collect and charge it receivable.

Restraints

The long implementation time is projected to hamper the growth of the global lab automation market. It takes approximately 612 months to fully implement the laboratory automation system and make it fully operational. Therefore, the time it takes to implement laboratory automation can limit its adoption.

Key Takeaways

In 2019, the global lab automation market was valued at US$ 4.2689 million and is expected to reach US$ 6,262.3 million in 2027, with a CAGR of 4.9 percent between 2020 and 2027. The forecast period includes technological advances and a growing demand from the pharmaceutical and biotechnology industries.

Liquid handling products dominate the global lab automation market in 2019 with a 40.3% value share, followed by micro-plate and robot readers and others.

Market Trends

Furthermore, the introduction of new laboratory automation solutions is also expected to contribute to the growth of the market. In February 2018, Thermo Fisher Scientific launched the Inspire Vertical Modular Robotic Platform, which aims to integrate various instruments such as robotic systems, software, and microplates to simplify workflows and speed up operations.

Competitive Landscape

Key companies contributing in the global lab automation market are Agilent Technologies, QIAGEN, Abbot Diagnostics, Thermo Fisher Scientific, Danaher Corporation, PerkinElmer Inc., Tecan Group Ltd., Porvair Sciences, UiPath, Siemens Healthineers, Roche Diagnostics, Eppendorf, COPAN Diagnostics, Inc., and Hamilton Company.

Key Developments

July 2020 – UiPath, an enterprise robotic process automation software company, has launched a virtual flow solution that enables customers, prospects, and partners to explore business automation solution demos, participate in demos, and participate in seminars as part of completely remote UiPath, an immersive lab experience.

May 2020 – Hamilton Storage and Titian Software announce Titian's automated store control application now connects Hamilton Storage's automated storage systems with Titian's Mosaic sample management software.

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Main points in Lab Automation Market Report Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Lab Automation Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Lab Automation Industry Impact

Chapter 2 Global Lab Automation Competition by Types, Applications, and Top Regions and Countries
2.1 Global Lab Automation (Volume and Value) by Type
2.3 Global Lab Automation (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Lab Automation Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Lab Automation Market Analysis
Chapter 6 East Asia Lab Automation Market Analysis
Chapter 7 Europe Lab Automation Market Analysis
Chapter 8 South Asia Lab Automation Market Analysis
Chapter 9 Southeast Asia Lab Automation Market Analysis
Chapter 10 Middle East Lab Automation Market Analysis
Chapter 11 Africa Lab Automation Market Analysis
Chapter 12 Oceania Lab Automation Market Analysis
Chapter 13 South America Lab Automation Market Analysis
Chapter 14 Company Profiles and Key Figures in Lab Automation Business
Chapter 15 Global Lab Automation Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology

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Source: EIN Presswire