The laboratory automation systems market size is expected to grow by $2.01 billion from 2024 to 2028. Growing Demand for Laboratory Automation Software Services to Boost Market Growth, Technavio

Copyright 2024 PR Newswire. All rights reserved
2024-05-29

NEW YORK, May 29, 2024 /PRNewswire/ — Global laboratory automation systems market The size is estimated to increase $2.01 According to Technavio, in the years 2024–2028 billion dollars. The market is estimated to grow at a CAGR of over 8.68% during the forecast period.

More information on projected market size and historical data (2018-2022) – Download a free sample report in minutes

Key market trends driving growth

The outsourcing trend in the healthcare industry for medical device manufacturing and drug discovery has led to significant investment in contract research outsourcing, particularly in countries such as India. With numerous US FDA approved facilities and a large talent pool at reasonable costs, India has become an attractive place for large pharmaceutical and medical device companies.

The implementation of product patents under the TRIPS Agreement in 2005 further stimulated outsourcing from developed markets. This cost reduction results in increased revenues from high-volume product orders, leading to infrastructure development and growth of the global laboratory automation system market. Availability of skilled manpower and improved manufacturing standards are contributing to market expansion during the forecast period.

The laboratory automation systems market is experiencing significant growth due to the increasing demand for efficient and accurate testing processes. Systems such as automation, dependency and control are popular in this sector. The key elements of these systems are robotics and procedures that enable the automation of various laboratory tasks.

The use of technology and models in laboratory automation is also increasing, which increases productivity and reduces human errors. Additionally, implementing laboratory automation systems is seen as a cost-effective solution for businesses as it minimizes the need for manual work and streamlines workflow. Overall, the laboratory automation systems market is expected to continue its growth trend in the coming years.

Market challenges

• Small and medium-sized laboratories face challenges in adopting automated solutions due to budget constraints, limited staff and space availability. These factors hinder the development of the laboratory automation systems market for them.

• On the other hand, large facilities can afford advanced systems for processes such as complex profiling and high content screening. However, managers of small laboratories may lack the knowledge necessary to understand the benefits of automation, and high maintenance costs pose an additional challenge.

• The laboratory automation systems market faces several challenges. One of the main challenges is the integration of various systems and technologies. This requires compatibility and interoperability between different laboratory devices and software. Another challenge is the high implementation and maintenance costs.

• Additionally, ensuring data security and compliance with regulations is an important issue. Moreover, the need to adapt to specific laboratory requirements can be time-consuming and complex. Finally, training staff to use automated systems effectively is essential but can be resource-intensive.

• Despite these challenges, the benefits of laboratory automation, such as increased efficiency, accuracy and productivity, make it a worthwhile investment for many organizations.

The research report provides comprehensive data on trend impact, drivers and challenges – Download a free sample report in minutes

Segment overview

1. End user

• 1.1 Pharmaceutical and biotechnology companies
• 1.2 Clinical and reference laboratories
• 1.3 Academic institutions and research organizations
• 1.4 Other

Type

• 2.1 Equipment
• 2.2 Software
• 2.3 services

Geography

• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of the World (ROW)

1.1 Pharmaceutical and biotechnology companies- Pharmaceutical and biotechnology companies have seen significant productivity gains in drug discovery through the adoption of high-content screening systems and laboratory automation. These systems, which include automated liquid handling, facilitate the identification and analysis of clinically relevant compounds. With minimal supervision, they can operate for longer periods of time, allowing companies to focus on core tasks and reduce time spent on repetitive tasks. Software integration and increased system throughput further support solution adoption, especially among emerging pharmaceutical and biotechnology companies focused on bringing new drugs and molecular therapies to market.

More information on market segmentation with geographical analysis including forecast (2024-2028) and historical data (2018-2022) – Download a sample report

Research analysis

The Laboratory Automation Systems market includes the development, implementation and management of advanced technologies intended for the automation of clinical laboratories. These systems prioritize productivity, ensuring safe working conditions and delivering reliable results. Laboratory equipment such as automated workstations and robotic systems play a significant role in this market.

Sample handling, a critical aspect of laboratory operations, is streamlined with high-performance liquid analysis and handling systems. Data analysis, including clinical chemistry and immunoassay analysis, is facilitated by advanced data management tools. The total automation segment continues to gain popularity in healthcare applications, especially in diagnostic laboratories. Limited human intervention and efficient sample preparation are the key advantages of these systems.

Market research review

The Laboratory Automation Systems market includes technologies and solutions designed to automate various laboratory processes. These systems are designed to increase efficiency, reduce errors and increase productivity in research and development, quality control and diagnostic applications. Technologies such as robotics, sensors, machine learning and artificial intelligence are an integral part of laboratory automation systems. They enable the automation of tasks such as sample preparation, data analysis and reporting.

Additionally, these systems offer benefits such as improved data management, process standardization, and increased throughput. Laboratory automation system manufacturers serve a variety of industries, including healthcare, pharmaceuticals, academia, and food and beverage. The market is driven by factors such as growing demand for fast and accurate laboratory results, intensification of research and development activities, and increasing demand for cost-effective and efficient laboratory operations.

Contents:

1 Summary
2 Market landscape
3 Market size
4 Historical market size
5 Five Forces Analysis
6 Market segmentation

• End user
• Pharmaceutical and biotechnology companies
• Clinical and reference laboratories
• Academic institutions and research organizations
• Others
• Type
• Equipment
• Software
• Services
• Geography
• North America
• Europe
• Asia
• The rest of the world (POEM)

7 Customer landscape
8 Geographic landscape
9 Factors, challenges and trends
10 Company landscape
11 Company analysis
12 Annex

About Technavio

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market position.

The Technavio report library, with over 500 specialized analysts, consists of over 17,000 reports and covers 800 technologies from 50 countries. Their client base consists of enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive reach, extensive research and actionable market insights to identify and evaluate opportunities in existing and potential markets. competitive position in changing market scenarios.

Communication

Technavio Research
Jesse Maida
Media and Marketing Director
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

View original content to download multimedia: https://www.prnewswire.com/news-releases/laboratory-automation-systems-market-size-is-set-to-grow-by-usd-2-01-billion- from -2024-2028–growing-demand-for-laboratory-automation-software-services-to-drive-market-growth-technavio-302156646.html

SOURCE Technavio