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Laboratory Automation Systems Market Size, Insights, Outlook, Overview And Report To 2024-2033
Laboratory Automation Systems Market
The Business Research Company offers in-depth market insights through Laboratory Automation Systems Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The laboratory automation systems market size has grown strongly in recent years. It will grow from $5.28 billion in 2023 to $5.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increase in medical errors, growth in the number of healthcare facilities, economic growth in emerging markets, a rise in healthcare expenditure and rapid growth in the elderly population..
The laboratory automation systems market size is expected to see strong growth in the next few years. It will grow to $6.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rapid technological advances, rising aging population, increasing prevalence of chronic diseases, covid-19 and increase in lifestyle diseases will drive the growth. . Major trends in the forecast period include emphasizing more on investing in research and development, collaborating with artificial intelligence companies, partnering with other players in the market, coming up with more efficient laboratory automation solutions, incorporating rfid technology, bringing new product launches and approvals and receiving aid from government initiatives..
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Market Segmentation:
The laboratory automation systems market covered in this report is segmented -
1) By Type: Modular Automation, Total Lab Automation
2) By Equipment And Software: Automated Liquid Handling, Microplate Readers, Standalone Robots, Automated Storage, Retrieval
3) By Application: Drug Discovery, Clinical Diagnostics, Genomics Solutions, Proteomics Solutions, Others
4) By End User: Biotechnology And Pharmaceutical Industries, Research Institutes, Hospitals And Private Labs, Academic Institutes
Major Driver - Revolutionizing Clinical Microbiology Boosts Laboratory Automation Market
Increased demand for microbiology testing and standardization of sample-collection devices for microbiology culture has driven the adoption of automated laboratory systems for culture-based laboratory testing in clinical microbiology. Culture-based microbiology laboratory testing by manual methods is being replaced by automated methods with the help of total laboratory automation. For instance, popular systems such as Becton Dickinson's Kiestra TLA, Copan's WASPLab, and others enable total laboratory automation (TLA) for culture-based microbiology testing. The potential to affect laboratory efficiency, turnaround time, and the overall quality of culture-based microbiology testing, is driving the automated laboratory systems market growth.
Competitive Landscape:
Major companies operating in the laboratory automation systems market report are Abbott Laboratories, Danaher Corporation, Thermo Fisher Scientific, Agilent Technologies, Inc., Tecan Group Ltd., PerkinElmer, Inc., F. Hoffmann-La Roche AG, QIAGEN N.V., Becton Dickinson and Company, Siemens AG, Brooks Automation, Inc., Hamilton Company, Eppendorf Ag, Biotek Instruments, Inc., Bee Robotics Ltd, Gilson Inc., Labware, Artificial, Intersystems, Biomerieux, Cerner Corporation, LTS Health, Omnia Health, Sysmex, Formulatrix, Beckman Coulter, Festo ZA
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Top Trend - Implementation Of Rfid Technology To Enhance Laboratory Automation
The hospital laboratories are increasingly adopting RFID technology for laboratory automation systems due to its better productivity and product quality reduced costs for technology, error reduction, faster delivery of samples, and reduced human intervention. Radio Frequency Identification (RFID) technology is an automatic system of identification based on wireless communication, consisting of a tag and a reader which can communicate through radiofrequency. RFID technology is similar to bar code technology but is more beneficial as it can perform some additional functions and actions automatically without human intervention than bar code technology. An RFID system is equipped with a transponder, transceiver, and a data processing unit to meet enhanced identification and tracking requirements in hospital laboratories. Laboratory automated systems use RFID tags attached with patient samples for identification and smart cards to store patients' data under a workstation that monitors the process in the laboratory. For instance, Mayo Clinic, a healthcare company, adopted RFID-enabled laboratory automation systems to minimize errors by 70%, maximize efficiency and patient safety, and reduce specimen turnaround time by 50%.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Laboratory Automation Systems Market Characteristics
3. Laboratory Automation Systems Market Trends And Strategies
4. Laboratory Automation Systems Market - Macro Economic Scenario
5. Laboratory Automation Systems Market Size And Growth
…..
27. Laboratory Automation Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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