Clinical Lab Automation Market - Size, Trends & Industry Research

Meticulous Research®, a globally renowned market research enterprise, has unveiled a distinctive report titled 'Clinical Lab Automation Market by Product (Liquid Handling, Nucleic Acid Purification System, Microplate Reader, Automated ELISA, Software), End User (Hospital Laboratories, Diagnostic Laboratories) - Global Forecast to 2030.'

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In its latest publication, Meticulous Research® forecasts that the global clinical lab automation market is poised to achieve a noteworthy milestone, reaching $3.72 billion by 2030, exhibiting a robust CAGR of 7.8%. This substantial growth can be attributed to the escalating global geriatric demographic, the surging prevalence of infectious diseases, and groundbreaking technological advancements in clinical laboratory instruments. However, challenges such as the high costs associated with advanced clinical lab automation equipment, coupled with funding and infrastructure limitations in developing nations, pose hurdles to the market's expansion.

Moreover, the rising demand for automated instruments, advancements in molecular diagnostics, and the emergence of economies with substantial potential are expected to present lucrative growth opportunities for the market. Despite these prospects, challenges persist in the form of elevated equipment maintenance and repair costs, along with concerns regarding the security and privacy of patient data, which could impede the market's progress.

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Key Players

Highlighted in the clinical lab automation market report are key industry players, including Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Revvity, Inc. (Formerly known as PerkinElmer, Inc.) (U.S.), F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), Tecan Group Ltd. (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson, and Company (U.S.), Abbott Laboratories (U.S.), Hudson Robotics, Inc. (U.S.), and Hamilton Company (U.S.).

The global clinical lab automation market is meticulously segmented by Product (comprising systems such as automated liquid handling systems, automated ELISA systems, automated nucleic acid purification systems, automated microplate readers, and other systems, along with clinical lab automation software), End user (encompassing hospital laboratories, diagnostic laboratories, and other end users), and Geography. The report delves into an in-depth analysis of industry competitors, evaluating their market share at both global and regional levels.

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Market Dynamics

In 2023, the systems segment is anticipated to dominate the market landscape, owing to the profound benefits offered by clinical lab automation systems. These systems streamline procedures by eliminating manual intervention, thereby enhancing laboratory testing capabilities. They mitigate repetitive tasks and errors, resulting in increased throughput and efficiency, ultimately elevating the quality of test results.

Simultaneously, the hospital laboratories segment is poised to command the largest market share in 2023, propelled by factors such as escalating healthcare expenditure, a surge in chronic diseases, increased sample loads in hospitals, and ongoing enhancements in healthcare infrastructure, particularly in developing nations.

Geographic Overview

This comprehensive research report conducts a thorough analysis of major geographies, providing insights into North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa. While North America is anticipated to claim the lion's share of the clinical lab automation market in 2022, closely followed by Europe, the Asia-Pacific region is poised to register the most substantial CAGR throughout the forecast period. The market's growth in Asia-Pacific is primarily fueled by increased investments in healthcare infrastructure, the imperative to manage the growing burden of infectious diseases, rising demand for clinical testing, supportive government initiatives to enhance diagnostic service accessibility, and the establishment of additional diagnostic laboratories.

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

This release was published on openPR.