According to the latest study report titled ‘GLOBAL Laboratory Automation Market 2021-2028’, available with Market Study Report, global laboratory automation market is anticipated to grow with a CAGR of 5.14% through 2028.
 

Growing importance of research & development activities leading to amplification of laboratories, coupled with advancements in lab systems are spurring the growth of global laboratory automation market. Notably, automated laboratories offer various benefits like less turnaround time and better accuracy as compared to non-automated establishments.
 

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Moreover, surging investments by pharma and biotech companies towards automation of laboratories will augmenting the industry outlook. On the contrary, challenges associated with technology integration, high cost of setup, and physical constraints are acting as major bottlenecks for worldwide laboratory automation market.
 

Speaking of the end-user scope, the marketplace is shared among research institutes, biotechnology & pharmaceutical companies, and others. The application area ranges from proteomics solutions, genomics solutions, drug discovery, and clinical diagnostics among others.
 

Moving on to product terrain, global laboratory automation industry is classified into software (scientific data management system, laboratory information system, electronic lab notebook, chromatography data system, and laboratory information management system), and equipment (analyzers, automated storage & retrieval systems, robotic arms, automated plate handlers, and automated liquid handlers).
 

Elaborating on regional outlook, the report cites that Asia Pacific is slated to be a major contributor towards global laboratory automation market remuneration by the year 2028, on account of expanding pharmaceutical sector in China, along with progressive research in genomics. Focus among international laboratory organizations on opening to their operation centers in China, and presence of manufacturers of high-quality laboratory equipment are positively swaying the business dynamics.
 

Major contenders in global laboratory automation industry sphere are Abbott Laboratories, F. Hoffmann-La Roche AG, PerkinElmer Inc., Tecan Group Ltd., Siemens Healthineers AG, Agilent Technologies Inc., Synchron Lab Automation, Hudson Robotics Inc., Danaher Corp., Thermo Fisher Scientific Inc., and Becton Dickinson & Company (BD).