The report predicts the global Lab Automation Market to grow with a CAGR of 5.2% over the forecast period from 2022-2031.
The lab automation market is projected to reach US $ 5.5 billion by 2031, from an estimated US $ 4.3 billion in 2022, with a CAGR of 5.2% during the forecast period. Market growth is due to increased spending on pharmaceutical R & D, growing concerns about food safety, and strict regulations in medicine. In addition, the expansion of the proteomics market, growing concerns about environmental safety and high demand in emerging markets offer market players a favorable opportunity. However, the delay in adopting automation in small and medium-sized laboratories due to budgetary constraints is the main factor expected to curb the growth of this market during the forecast period.
Looking at it, it is expected to be the fastest growing market from 2022 to 2031. ”
The software segments are categorized into LIMS, ELN, LES, and SDMS. LIMS is software that is growing rapidly during the forecast period. This growth is due to the system’s ability to improve workflow efficiency by eliminating manual data entry and transcription errors. Therefore, improved work processes, productivity, traceability, sample turnaround time, data security and accountability, accessibility to data, and regulatory compliance
“End-user biotechnology and pharmaceutical companies will begin in 2022. It is expected to be the largest market by 2031. “
The biotechnology and pharmaceutical companies segment is expected to grow at the fastest rate during the forecast period. Increasing pressure on biotechnology and the rapid development of pharmaceuticals for pharmaceutical companies has increased the demand for lab process automation in this end-user segment. In addition, the availability of government and corporate funding for biotechnology and pharmaceutical research is driving the industry’s growth in
North America: the largest and third fastest growing region in the lab automation market.
North America is expected to dominate the global lab automation market between 2022 and 2031. Increasing diagnostic testing in the region due to increased penetration of medical facilities and increased health awareness .. As the population ages and the prevalence of lifestyle-related diseases increases, the demand for diagnostic and therapeutic drugs is increasing significantly.
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Preliminary election breakdown:
C-level of various major industry participants, subject experts, and major market players We conduct in-depth interviews with executives, industry consultants and others to obtain and validate important qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is by company type: Tier 1 ~ 25%, Tier 2 ~ 30%, Tier 3 ~ 45%
Designation: C level 12%, Director level 24%, Other 64%
Region: North America –34% , Europe-26%, Asia Pacific-35%, ROW-5%
* Others include Sales Managers, Engineers and Regional Managers.
Note: Tier 1 Enterprises-US $ 5 Billion Revenues, Tier 2 Enterprises-US $ 1 Billion to US $ 5 Billion Revenues, Tier 3 Enterprises-Revenues <US $ 1 Billion
The lab automation market is dominated by several major players with a broad regional presence.
The major players in the lab automation market are Thermo Fisher Scientific (USA), Azilent Technologies (USA), Tecan Group (Switzerland), PerkinElmer (USA), and Danahar Corporation (USA)> <. Scope:
This report defines, describes, and forecasts the lab automation market by technology, application, and region. It also provides a detailed qualitative and quantitative analysis of the market. This report provides a comprehensive review of key market drivers, constraints, opportunities, and challenges. It also covers many important aspects of the market, such as competitive environment analysis, market dynamics, market forecasts from a value perspective, and future trends in the lab automation market.
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Key Benefits of Buying a Report
- This Report Identify and address key markets for lab automation operations and services that help equipment manufacturers and service providers review demand growth.
- This report helps system providers understand market trends. Provides insights on drivers, constraints, opportunities, and challenges.
- This report helps key players better understand the strategies of their competitors and make better strategic decisions.
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