Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- 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 set for remarkable growth, anticipated to surge to a value of $10.54 billion by the year 2030, expanding at a compound annual growth rate (CAGR) of 7.2% from 2023 onwards. A recent market research report has been added to an authoritative industry website, delving deeply into the trends and dynamics propelling this vibrant sector.
The comprehensive study underlines several pivotal factors buttressing the market uptrend, such as intensified research and development expenditure by pharmaceutical and biotechnological sectors, a burgeoning demand for advanced lab automation technologies, and the escalating prevalence of chronic and infectious diseases globally. Additionally, government-led initiatives bolstering life sciences research further invigorate the market.
With a spotlight on emerging areas, the genomics & proteomics research sphere and the growth opportunities in developing economies such as the Asia-Pacific region, are particularly notable. The analysis indicates that Asia-Pacific is set to become the fastest-growing region in the global lab automation market, stimulated by a significant expansion in the pharmaceutical and biotechnology fields, advancements in healthcare infrastructure, increased research emphasis, and generous government funding.
Despite the bright outlook, challenges such as the high cost of cutting-edge lab automation systems and infrastructural limitations in developing countries could potentially dampen market expansion. Furthermore, issues related to equipment maintenance, as well as data privacy and security concerns, are highlighted as pressing challenges for market stakeholders.
In a detailed review of market segments, the report underscores that the systems product segment, inclusive of automated liquid handling and automated nucleic acid purification systems, accounted for the most substantial market share in 2023. Key drivers for this segment's dominance include heightened drug development efforts and the necessity for precision and efficiency in handling biological samples.
When it comes to applications, drug discovery commands a leading position in the market, propelled by extensive pharmaceutical research, high-throughput screening, and government support for drug development ventures. Simultaneously, pharmaceutical and biotechnology companies emerge as the prime end users, determined to expedite new drug discoveries and enhance productivity within their R&D units.
The report provides a granular breakdown of geographic market share, with North America holding the reins in 2023, followed by Europe and the Asia-Pacific region. The analysis offers keen insights into the competitive landscape, spotlighting key players that are pivotal to the market's trajectory.
This in-depth lab automation market research is a crucial resource for stakeholders, investors, and participants keen on navigating the complexities of this rapidly evolving industry. It sheds light on the incremental opportunities and strategic approaches that define success in the realm of lab automation worldwide.
Competition Analysis
Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
Market Share Analysis (2022)
- Abbott Laboratories (U.S.)
- Danaher Corporation (U.S.)
- Hamilton Company (U.S.)
- Thermo Fisher Scientific, inc. (U.S.)
- Siemens Healthineers AG (Germany)
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Abbott Laboratories
- Danaher Corporation
- Hamilton Company
- Siemens Healthineers Ag
- Thermo Fisher Scientific, inc.
- F. Hoffmann-La Roche Ag
- Agilent Technologies, inc.
- Revvity, inc. (Formerly Known As PerkinElmer, Inc.)
- Bio-Rad Laboratories, inc.
- Becton, Dickinson, and Company
- Tecan Group Ltd.
- Waters Corporation
- Hudson Robotics, Inc.
Scope of the Report:
Lab Automation Market Assessment-by Product
- Systems
- Automated Liquid Handling Systems
- Automated Nucleic Acid Purification Systems
- Automated ELISA 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
- Pharmaceutical & Biotechnology Companies
- 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/qc1pqn
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