Total Lab Automation Market Forecast to Reach USD 1256 Million by 2031 Driven by Technological Advancements and Rising R&D Investments

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 represents a multidisciplinary and innovative approach designed to enhance productivity, reduce processing time, and optimize the efficiency of laboratory operations. The laboratory automation market is anticipated to experience significant growth over the forecast period, driven by technological advancements in laboratory instrumentation and the increasing adoption of automated systems within pharmaceutical companies and research and development organizations. Automation enhances the performance of laboratory tasks such as sample handling, verification, and tube labeling, while simultaneously minimizing the physical demands associated with manual procedures. These advantages are expected to facilitate the adoption of automated solutions by small and medium-sized laboratories, thereby supporting increased throughput.

Additionally, growing demand for miniaturized processing equipment is further propelling market expansion. However, the high initial capital expenditure required for automation technology presents a constraint to market growth. The rising volume of samples processed daily has prompted vendors to intensify the development of advanced automation systems, thereby creating new opportunities for market advancement within the laboratory automation sector.

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:
A key driver of the global laboratory automation market is the growing demand for process miniaturization. The adoption of automated technologies in clinical laboratories is largely motivated by the need to accelerate the miniaturization of complex laboratory procedures across applications such as microbiology, biotechnology, and clinical chemistry. Miniaturization enhances capabilities for cell expansion, monitoring, and cultivation, thereby reducing turnaround times, particularly in point-of-care environments. Moreover, the expanding scope of laboratory automation applications continues to support market growth, as automation transforms numerous traditionally manual laboratory tasks.

Challenges:
The rapid proliferation of laboratory automation systems has increased the demand for skilled professionals capable of designing, operating, maintaining, and troubleshooting these sophisticated, technologically advanced platforms. However, a significant shortage of expertise in robotics, software development, and automation-specific knowledge across various regions and industries poses a substantial barrier. This talent gap hinders the effective adoption and utilization of cutting-edge automation technologies. Laboratories investing in advanced automation may struggle to fully realize its benefits without adequately trained personnel to optimize its use.

Regional Trends:
The North American total laboratory automation market is anticipated to secure a substantial revenue share and demonstrate robust compound annual growth in the near term. Growth is supported by heightened awareness of advanced laboratory automation systems, an expanding pharmaceutical industry, and increasing demand for automation solutions. The region hosts major pharmaceutical companies, including Pfizer, Novartis, Johnson & Johnson, and GlaxoSmithKline. Additionally, North America is home to a high concentration of contract research organizations (CROs) such as IQVIA, Laboratory Corp. of America Holdings, Syneos Health, and Parexel International. The presence of these key industry players, combined with stringent FDA regulations, fosters a highly competitive market environment. To maintain a competitive edge, companies are increasingly leveraging robotics and automation technologies within laboratory settings.

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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 KiestraTM 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

Read Overview Report- https://www.insightaceanalytic.com/report/total-lab-automation-market/2304

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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.