October 2023
09 Aug 2024
The global lab automation market was exhibited at USD 7.35 billion in 2023 and is predicted to attain around USD 13.95 billion by 2033, poised to grow at a CAGR of 6.55% during the forecast period. Rising technological advancements in artificial intelligence and robotics are expected to drive market growth.
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The lab automation market refers to the use of any device or equipment that may streamline tasks in the lab with no hands-on or little engagement from professionals. Lab automation uses a special technology to substitute or streamline the manual manipulation of equipment and methods. The degree and level of automation are decided based on the laboratory workflow.
The continuous adoption of automated instruments is mostly observed at research and academic institutes to improve productivity, reduce the time spent on various time-consuming tasks, and further propel the growth of the lab automation market during the forecast period.
The increasing demand for high-throughput analysis to streamline huge numbers of samples and the growing demands for productivity and efficiency in research and development across industries such as healthcare, biotechnology, and pharmaceuticals are further expected to drive market growth in the estimated period.
Increase biotech and pharmaceutical R&D expenditures to enhance market growth
Investments and funding are crucial for lab automation in improving patient outcomes, advancing research and development, and driving innovation. Investments come from many sources, such as venture capitalists, associations, and governments. Various programs are provided to students, scientists, entrepreneurs, start-ups, pharmaceuticals, and biopharmaceuticals in multiple regions of the globe.
This program awards consultations, services, and products to the awardees to aid in enhancing their growth in the market. In addition, increasing investments and funding are enhancing the growth of the life science sector and improving the adoption of laboratory automation equipment. Thus, these driving factors are anticipated to enhance the growth of the lab automation market during the forecast period.
However, the slow adoption of automation by laboratories and diagnostics may restrain the market growth. Budget concerns can be a major challenge for medium-sized and small-sized laboratories. The service costs and high maintenance related to laboratory informatics solutions may restrain market growth. Lack of evidence on the cost-effectiveness, low risk-taking capabilities, and budget constraints of automation solutions for medium and small-sized labs may create obstacles. Thus, these factors are expected to restrain the growth of the lab automation market.
Recent Innovation in the Lab Automation Market by Carbon
Recent Innovation in the Lab Automation Market by Abbott
Asia Pacific is expected to grow fastest during the forecast period
The lab automation market is driven by various factors such as increasing supportive government policies to improve lab automation, increasing investments by market players to launch novel systems in the region, and a growing number of middle and small-sized laboratories in the region. China, India, Japan, and South Korea are the major countries in the region. China and India are providing funding and implementing initiatives to improve the adoption of lab automation technologies. These countries are the major contributors to the market growth, and they are further expected to drive the growth of the lab automation market in Asia Pacific.
The market is enhanced by the dynamic sector in the life sciences and laboratory technology landscape in the region. The region significantly depends on lab automation solutions to enhance efficiency, accuracy, and productivity due to the well-established infrastructure, such as clinical laboratories, biotechnology firms, pharmaceutical companies, healthcare facilities, and research institutions. The U.S. and Canada are the major countries in the region. The rising necessity for dependable and speedy diagnostic testing, the increasing demand for personalized medicine, and the continuous focus on drug development and discovery are further expected to drive the growth of the lab automation market in North America.
Increasing adoption of laboratory automation for genomics and personalized medicine
The increasing adoption and awareness of personalized medicines are considered to create growth opportunities for the market players operating in the market for lab automation. The increasing adoption and awareness of personalized medicines enhance the demand for automated and specialized lab technologies and equipment that allow accurate, error-free, and precise molecular and genetic analysis.
Personalized medicine significantly depends on biomarker validation and identification, proteomic & genomic information analysis, sequencing, and genetic testing necessitating the use of advanced lab equipment, such as chromatography systems, immunoassay analyzers, mass spectrometers, next-generation sequencers, real-time PCR systems, PCR machines, gene sequencers, and DNA sequencers to manufacture accurate results. In addition, there has been significant demand for DNA sequencing in personalized medicine, clinical diagnostics, and genomics research, with advancements in DNA sequencing technologies. These factors are expected to boost the growth of the lab automation market in the coming years.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 7.84 Billion |
| Market Revenue by 2033 | USD 13.95 Billion |
| CAGR | 6.55% |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Segmentation
By Process
By Automation Type
By End-User
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