Global lab automation market size and share is currently valued at USD 5.7 billion in 2023 and is anticipated to generate an estimated revenue of USD 14.09 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 6.00% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 - 2032
The newly released research report titled Lab Automation Market Statastics offers a comprehensive view of the rapidly growing market. It sheds light on the current market state and offers estimations for future market projections. All the major market aspects, including Lab Automation market share, size, trends, and developments have been covered. The key stats and other important data have been represented through tables, graphs, and charts, making it easy for readers to comprehend the information.
Along with all the major growth drivers, the research report examines restraints and challenges that may impede market demand in the coming years. It offers an in-depth quantitative and qualitative analysis to help stakeholders gain a thorough grasp of the market and its crucial dynamics. The report is the go-to resource for anyone looking to gain a comprehensive understanding of the market and make strategic decisions.
Market Dynamics:
➡️ Supply and Demand: The research report analyzes the total quantity of products or services available, and how much of a product or service consumers are willing and able to buy at different price points. Factors influencing supply and demand, including production capabilities, labor costs, and income levels, have been examined.
➡️ Consumer Behavior and Trends: The study examines changes in consumer behavior and preferences and their influence on Lab Automation market demand. Demographic changes and socio-economic factors have also been studied.
➡️ Economic Factors: The report assesses broader economic factors such as inflation, unemployment, GDP growth, and consumer confidence and their effect on consumer spending patterns.
➡️ Regulatory and Legal Factors: Rules and regulations around safety, labor standards, taxation, and environmental impact have been examined in the study. An assessment of whether these regulations can create barriers or opportunities for businesses has been provided.
Industry Dynamics
Growth Drivers
Rising Utilization of Automated Workstations Facilitates Market Growth
The growing adoption of automated workstations in laboratories is enhancing overall performance and productivity. These automated workstations alleviate the mental strain and fatigue that can result from conducting various experiments, enabling lab personnel to use their time more efficiently. Furthermore, customized automated liquid-handling workstations ensure continuous lab operations, even in the absence of personnel, allowing assays to progress over weekends, thus maximizing research progress before the workweek begins. The use of personalized lab workstations is on the rise.
Many larger laboratories employ stand-alone automated liquid handlers, manually moving plates to and from storage incubators, with readers integrated into automated workstations. Most labs are incorporating additional features into benchtop analyzers for liquid handling, facilitating automation through the transition to workstations. While implementing total lab automation can be costly, workstations enhance lab efficiency and reduce manual errors in the process. These factors are expected to drive lab automation market growth in the forecast period.
Competitive Landscape:
The Lab Automation market research report offers an in-depth examination of the market’s competitive landscape. All the major and emerging players have been closely examined based on various aspects, including product portfolio, market share, gross margin, and sales growth. Also, information on production capacity and other important aspects has been provided in the report. By going through the competitive landscape section, readers can get to know the competitive strategies adopted by market participants to gain a competitive edge.
Browse Full Insights:
https://www.polarismarketresearch.com/industry-analysis/lab-automation-market
Some of the major players covered in the market research report are:
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Abbott
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Agilent Technologies
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Bio-Rad Laboratories
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CrelioHealth
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Danaher
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Dassault Systèmes
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Hoffmann-La Roche
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Illumia
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INTEGRA Biosciences
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LabLynx
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LabVantage
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Peak Analysis & Automation
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Siemens Healthineers
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Tecan
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Thermo Fisher Scientific
Regional Analysis:
This research report section provides valuable insights into different Lab Automation market regions and the key players operating within each region. To assess the growth of a specific region, factors such as social, environmental, technological, and political have been carefully measured. Also, the report offers sales and revenue data for every region and sub-region, gathered using comprehensive research methodologies. By going through this information, stakeholders can determine the potential value of a particular investment in a specific region.
Segmental Overview:
Segmental analysis divides the market into smaller, more specific segments. That way, businesses can get a better understanding of the diverse preferences, needs, and behaviors of their customers. In addition, stakeholders can devise strategies, design products, and improve customer experiences that resonate with each unique market segment. By going through the segmentation section, businesses can focus on the most profitable and strategically important customer segments, ensuring that they remain competitive and relevant in the Lab Automation market.
Recent Developments
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In May 2023, Opentrons has introduced the Opentrons Flex robot, a next-generation, cost-effective, and user-friendly liquid-handling laboratory robot aimed at democratizing access to advanced lab automation for labs of all sizes and making it accessible to a broader spectrum of researchers.
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In April 2023, MolGen, headquartered in Utrecht and specializing in life science research reagents, disclosed its acquisition of Synchron Instrumenten BV, a Dutch company renowned for automation solutions. Synchron Instrumenten, also recognized as Synchron Lab Automation, has been delivering automated solutions for a diverse range of laboratory applications, encompassing fields such as oil, agriculture, chemicals, clinical, and water/food, since its establishment in 1985.
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In January 2023 Becton, Dickinson, and Company (BD) unveiled the latest iteration of the BD Kiestra Complete Lab Automation System, representing the third generation, designed for microbiology laboratories.
Report Answers Questions Such As:
➺ What will be the Lab Automation market development pace?➺ Who are the key players in the market?➺ Who are the major supply channels used by market participants to deliver specific products?➺ What are the emerging trends and opportunities in the market?➺ What are the key strategies adopted by major market players?➺ Which segment is projected to witness the fastest growth in the coming years?➺ Which region leads the market in terms of revenue share?
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