Global Lab Automation Market Analysis: Size, Drivers, Trends, Opportunities, And Strategies
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At What Rate is the Lab Automation Market Predicted to Expand Between 2024 and 2033?
The lab automation market is expected to rise from $6.67 billion in 2023 to $7.33 billion in 2024, reflecting a CAGR of 9.9%. Growth is driven by advancements in robotics, increased demand for high-throughput screening, emphasis on precision and reproducibility, and the need for faster, more accurate diagnostics.
The lab automation market is projected to see significant growth, reaching $10.80 billion by 2028 at a CAGR of 10.2%. This growth is attributed to regulatory requirements, remote access demands, and labor shortages. Major trends include AI integration, robotic automation, modular solutions, and advanced imaging techniques.
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What Forces Are Boosting the Global Lab Automation Market Analysis: Size, Drivers, Trends, Opportunities, And Strategies Market’s Growth?
The rising demand for personalized medicine is set to boost the lab automation market. Personalized medicine tailors healthcare decisions and treatments to individual patients. This demand is driven by advancements in genomics, increased awareness, the rising prevalence of chronic diseases, and cost-effectiveness. Lab automation enhances the efficiency and accuracy of lab procedures, allowing for the development of personalized medicine strategies that improve patient outcomes. For example, in October 2022, the Personalized Medicine Coalition indicated that over 75,000 genetic testing products and 300 personalized medicines would be available for various diseases. Thus, the demand for personalized medicine is fueling the lab automation market.
What Key Segments Make Up the Lab Automation Market?
The lab automation market covered in this report is segmented –
1) By Stage Of Automation: Pre-Analytical Stage, Analytical Stage, Post-Analytical Stage, Total Lab Automation
2) By Process: Discrete Processing, Continuous Flow
3) By Application: Diagnostics, Genomic Solutions, Microbiology, Drug Discovery, Proteomic Solutions, Other Applications
4) By End-User: Pharmaceutical and Biotechnology Companies, Research and Diagnostic Laboratories, Other End-Users
What Are the Latest Trends Impacting the Lab Automation Market?
Major firms in the lab automation market are creating advanced systems for microbiology laboratories to optimize workflow. In January 2023, Becton, Dickinson, and Company launched the BD Kiestra Total Lab Automation System, which enhances microbiological sample processing and analysis through its modular and fully automated design.
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What Regions Are Dominating the Lab Automation Market Growth?
North America was the largest region in the lab automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Lab Automation Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the lab automation market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Lab Automation Market Include
1. Lab Automation Market Executive Summary
2. Lab Automation Market Segments
3. Lab Automation Market Size And Template Market Growth Rate
4. Key Lab Automation Market Trends
5. Major Lab Automation Market Drivers
……
25. Key Mergers And Acquisitions In The Lab Automation Market
26. Top Lab Automation Companies
27. Lab Automation Market Opportunities And Strategies
28. Lab Automation Market, Conclusions And Recommendations
29. Appendix
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