The Lab Automation Market is expected to be worth US$ 2.1 billion in 2023. The lab automation market is estimated to increase at a CAGR of 10.1% during the forecast period, reaching US$ 5.5 billion by 2033, owing to the increasing usage of lab automation across several end-use verticals.

The increase in benefits provided by lab automation is one of the reasons likely to fuel market expansion in the future years. Lab automation facilitates the use of laboratory equipment for repetitive activities while also reducing and minimising the physical strain caused by manual work, lowering expenses and saving lab space. The considerable advantages offered by automated systems are likely to inspire small and large laboratories to install these workstations.

Another factor that is predicted to influence the lab automation market expansion in the near future is an increase in demand for miniaturisation. The primary reasons for implementing automated systems and workstations in clinical laboratories are to facilitate the miniaturisation of research processes in order to devise solutions for various complex lab automation tasks in applications such as biotechnology, microbiology, and clinical chemistry.

The downsizing of these processes enables better cell multiplication, monitoring, and culturing, resulting in faster turnaround times in point-of-care settings. A growth in the number of clinical applications of automated laboratory instruments is predicted to boost lab automation adoption.

Global Lab Automation Market: Key Players

Some of the key competitors in the lab automation market are Abbott Laboratories, Agilent Technologies, Perkin Elmer, Inc, Thermo Fisher Scientific, Inc, Siemens Healthcare, Danaher Corporation, Becton, Dickinson and Company, and Transcriptic, Inc.

These key players are constantly focusing on product innovation and geographical expansions to sustain their market presence and increase revenue generation by developing various types of solutions and delivering outstanding offerings to several end users.

Browse More Details@ https://www.futuremarketinsights.com/reports/lab-automation-market

Key Segments:

Component Type

• Devices
  • Biochemistry Devices
  • Molecular Devices
  • Hematology Devices
  • Immunology Devices
  • Microbiology Devices
  • Others

Software

• Scheduling Software
• Momentum Integration Software

Application

• Life Sciences Research and Development
• Drug Discovery
• Diagnostics

End User

• Pharmaceutical Companies
• Hospitals and Diagnostic Centers
• Educational Institutions
• Contract Research Organizations (CROs)
• Research Institutes