Total Lab Automation Market Total Lab Automation Market

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Total Lab Automation Market - (By Application (Diagnostics, Genomic Solutions, Microbiology, Drug Discovery, Proteomic Solutions, Other Applications), By End-User (Pharmaceutical and Biotechnology Companies, Research and Diagnostic Laboratories, Other End-Users)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Total Lab Automation Market is valued at US$ 508.9 Mn in 2023, and it is expected to reach US$ 1,256.1 Mn by 2031, with a CAGR of 12.1% during the forecast period of 2024-2031.

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Laboratory automation is a multidisciplinary, innovative technique used in laboratories to increase productivity, minimize time, and improve laboratory process efficiency. The laboratory automation market is expected to develop during the projected period as a result of technical improvements in laboratory equipment and an increase in the adoption of automated laboratory equipment in pharmaceutical and R&D organizations. Furthermore, lab automation improves the effectiveness of laboratory equipment for procedures like sample handling, verifications, and labelling tubes while reducing physical strain caused by manual processes. Thus, the multiple benefits of automated systems are expected to make it easier for small and medium-sized laboratories to employ automated systems for increased production.

Furthermore, an increase in demand for miniaturized process equipment fuels the market growth. Higher initial investment, on the other hand, stifles market expansion. The quantity of samples analyzed each day has increased in recent years. As a result, market research in this sector has revealed a rise in vendor development of automation systems. This is projected to create chances for the expansion of the lab automation industry.

List of Prominent Players in the Total Lab Automation Market:
• Bionex Solutions
• COPAN Diagnostics
• ERWEKA
• GeSim
• MGI
• Molecular Devices
• Nova Biomedical
• Pall Corporation
• Thermo Fisher Scientific
• Tecan Group
• Danaher Corporation
• Agilent Technologies
• F. Hoffmann-La Roche
• Perkinelmer
• Eppendorf
• Becton, Dickinson And Company
• Waters Corporation
• Siemens Healthineers
• Abbott Laboratories
• bioMérieux
• Endress+Hauser Group
• Hamilton Company
• Hudson Robotics
• Gilson, Inc.
• BMG Labtech
• Aurora Biomed Inc.
• Peak Analysis & Automation
• Formulatrix
• Qiagen N.V.
• Labvantage Solutions, Inc.
• Bio-Rad Laboratories, Inc.
• Labware
• Analytik Jena GMBH

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Market Dynamics:
Drivers-
The primary factor boosting the global market is increased demand for process miniaturization. One of the primary motivations for the use of automated technologies in clinical laboratories is to hasten the miniaturization of research processes in order to derive solutions for various difficult lab automation processes in applications such as microbiology, biotechnology, and clinical chemistry. Furthermore, miniaturization facilitates cell expansion, monitoring, and cultivation, which reduces turnaround times, particularly in point-of-care settings. Furthermore, the expanding breadth of lab automation applications will likely fuel market expansion. Lab automation has revolutionized a variety of previously manual laboratory processes.

Challenges:
With the rapid growth of laboratory automation systems, there has been an increase in the demand for qualified professionals who can design, operate, maintain, and troubleshoot increasingly sophisticated and technologically advanced systems. However, a significant scarcity of people with competence in robotics, software programming, and automation-specific knowledge causes issues in various geographies and businesses. This scarcity of competent labour impedes the smooth adoption and effective use of cutting-edge automation technology. Without workers capable of leveraging the full potential of such technology, laboratories investing in it may fail to maximize its benefits.

Regional Trends:
The North American Total Lab Automation Market is expected to record a major market revenue share and is projected to grow at a high CAGR in the near future. Increased knowledge of advanced laboratory automation systems, an increase in the number of pharmaceutical businesses, and an increase in the demand for laboratory automation systems all contribute to market growth. Pfizer, Novartis, J&J, GlaxoSmithKline, and Novartis are among the significant pharmaceutical businesses headquartered in this region. The government also has a high concentration of contract research organizations (CROs). IQVIA, Laboratory Corp. of America Holdings, Syneos Health, and Parexel International Corp. are some of the country's leading CROs. The country's market is very competitive due to the presence of all major industry participants, as well as tight FDA regulations. Market businesses in the country are rising, utilizing robots and automation in labs to gain an advantage over competitors.

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Recent Developments:
• In Dec 2023, Abbott said that its latest laboratory automation system has obtained approval from the US Food and Drug Administration and is currently accessible in the US. The GLP Systems Track incorporates a self-propelled single sample carrier, known as CAR, which enables samples to travel autonomously without the need for a belt, as opposed to being connected to a stationary automated track system. The automation system is very adaptable and enables automated transportation of samples across the entire system.
• In Jan 2023, BD (Becton, Dickinson and Company) unveiled a novel robotic track system for the BD Kiestra™ microbiological laboratory solution. This system automates the processing of lab specimens, potentially leading to a decrease in human labour and wait times for results.

Segmentation of Total Lab Automation Market-
By Application-
• Diagnostics
• Genomic Solutions
• Microbiology
• Drug Discovery
• Proteomic Solutions
• Other Applications
By End-User-
• Pharmaceutical and Biotechnology Companies
• Research and Diagnostic Laboratories
• Other End-Users
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.