The global lab automation market, valued at USD 2.1 billion in 2023, is projected to expand at a robust CAGR of 10.1% over the forecast period, potentially reaching USD 5.5 billion by 2033. This growth trajectory is driven by increasing adoption across diverse end-use verticals, according to recent analysis by FMI.
Key drivers propelling this market growth include the rising expenditures on Research and Development by pharmaceutical companies, coupled with stringent regulatory requirements. The emphasis on reducing human interference in sensitive processes further underscores the adoption of lab automation solutions.
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According to FMI, the global lab automation market is expected to experience a substantial revenue increase, potentially growing 2.5 times by 2027. This growth is significantly supported by rising sales of robotics laboratory equipment, which play a pivotal role in enhancing operational efficiencies within laboratories.
The introduction of automation techniques has led to a notable increase in the volume of samples tested daily and has facilitated real-time result analyses. Consequently, there is a burgeoning demand for automated devices, services, and advanced software solutions, reflecting a threefold rise in market interest.
“We are witnessing a transformative period in the lab automation sector,” said FMI. “Advancements in robotics and software technologies are not only enhancing efficiency but also improving accuracy and scalability in laboratory operations.”
Furthermore, the market has witnessed substantial vendor development in automation systems tailored for handling increased sample volumes. This trend is expected to open new avenues for growth in the lab automation market, providing opportunities for innovation and expansion.
Key Takeaways: Lab Automation Market Growth
- The lab automation market is estimated at USD 2.1 billion in 2023 and is projected to reach USD 5.5 billion by 2033, reflecting a CAGR of 10.1%.
- Increased adoption across research institutions and pharmaceutical companies for efficiency and faster research phases.
- Rising demand for miniaturization in lab processes for complex tasks.
- Growth in clinical applications of automation for faster turnaround times.
- North America (particularly the US) is the largest market due to high biopharmaceutical activity and rising R&D spending. It is expected to grow at a CAGR of 11.6%.
- Asia Pacific is projected to grow at a CAGR of 10% due to emerging economies like China and India focusing on healthcare infrastructure development.
- Japan’s market is driven by an aging population, focus on innovation, and government initiatives (8.2% CAGR).
- India’s market is fueled by rising healthcare expenditure, improved facilities, and adoption of modular labs (10.9% CAGR).
- MEA region is expected to see growth due to increasing disease burden, health insurance penetration, and government investments.
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Competition Influences the Lab Automation Market
Abbott Laboratories, Agilent Technologies, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcriptic, Inc. represent major competitors in the lab automation market. These companies continuously prioritize the integration of cutting-edge laboratory automation solutions to penetrate profitable markets.
Additionally, numerous firms are forging strategic partnerships and collaborations with various entities to enhance their market share and profitability in the lab automation sector.
Key Segments:
By Component Type:
- Devices
- Biochemistry Devices
- Molecular Devices
- Hematology Devices
- Immunology Devices
- Microbiology Devices
- Others
- Software
- Scheduling Software
- Momentum Integration Software
By Application:
- Life Sciences Research and Development
- Drug Discovery
- Diagnostics
By End User:
- Pharmaceutical Companies
- Hospitals and Diagnostic Centers
- Educational Institutions
- Contract Research Organizations (CROs)
- Research Institutes
Key Regions:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- The Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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