Lab Automation Market Size to Reach Revenues of USD 8.58 Billion by 2026 – Arizton – PRNewswire

CHICAGO, July 7, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global lab automation market report.

The lab automation market is expected to grow at a CAGR of over 8.53% during the period 20202026.

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Lab Automation Market Segmentation

Lab Automation Market by Product

Lab Automation Market by Application

Lab Automation Market by Automation

Lab Automation Market by End-User

Lab Automation Market Dynamics

Many industries have already integrated automation and robotics, and the healthcare industry is still catching up. Laboratory robotics can be broadly defined as using robotics technology to conduct scientific studies and research experiments in a safe environment without the interference of human hands. The increasing need to ensure the safety of manual workers and the adoption of stringent regulatory protocols in laboratories have initiated businesses to adopt robotic technologies for critical process applications. Robots maintain accuracy and precision and are highly efficient, thus driving the adoption of robotics in diagnostic laboratories, research, and development centers. The advantage of lab automation using robotics was seen during the COVID-19 pandemic. Robotic labs played a significant role in diagnosing COVID-19 samples as automated robots provide end-to-end solutions. They also connect patients, healthcare providers, healthcare institutions, and public health agencies online on a medical triage platform that can be accessed using a web browser or app on almost any device.

Key Drivers and Trends fueling Market Growth:

Lab Automation Market Geography

In 2020, North America accounted for a share of 42.04% of the global laboratory automation market. North America is dominating the laboratory automation market. Initially, Japan started the lab automation concept and was successful, which was followed by the US. Many hospitals started to automate their labs to manage the shortage of lab technicians and to improve the quality of lab decisions and provide better treatments to people. In the last decade, some insurance companies and government agencies reduced the reimbursement for traditional device-based diagnostics, which were more expensive for insurance companies. This made them move toward modern instruments, and it was when automation was introduced in the market. This situation demanded labs and hospitals to opt for lab automation.

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Lab Automation Market by Geography

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AriztonAdvisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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Lab Automation Market Size to Reach Revenues of USD 8.58 Billion by 2026 - Arizton - PRNewswire