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Clinical Lab Automation Market to be Worth $3.72 Billion by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Clinical Lab Automation Market by Product (Liquid Handling, Nucleic Acid Purification System, Microplate Reader, Automated ELISA, Software), End User (Hospital Laboratories, Diagnostic Laboratories) – Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the global clinical lab automation market is projected to reach $3.72 billion by 2030, at a CAGR of 7.8%. The growth of this market can be attributed to the rising global geriatric population, the increasing prevalence of infectious diseases, and technological advancements in clinical laboratory instruments. However, the high costs of advanced clinical lab automation equipment, coupled with funding and infrastructure limitations in developing countries, restrain the growth of this market.
Furthermore, the increasing demand for automated instruments, technological advancements in molecular diagnostics, and emerging economies are expected to create market growth opportunities. However, factors such as high equipment maintenance and repair costs and concerns over the security and privacy of patient data pose challenges for the market’s growth.
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Key Players
The key players profiled in the clinical lab automation market report are Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Revvity, Inc. (Formerly known as PerkinElmer, Inc.) (U.S.), F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), Tecan Group Ltd. (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson, and Company (U.S.), Abbott Laboratories (U.S.), Hudson Robotics, Inc. (U.S.), and Hamilton Company (U.S.).
The global clinical lab automation market is segmented by Product (systems {automated liquid handling systems, automated ELISA systems, automated nucleic acid purification systems, automated microplate readers, and other systems} and clinical lab automation software), End user (hospital laboratories, diagnostic laboratories, and other end users), and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
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Based on product, in 2023, the systems segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the benefits of clinical lab automation systems, which facilitate procedures without manual intervention, enhancing laboratory testing capabilities. These systems mitigate repetitive tasks and errors, resulting in increased throughput and efficiency, ultimately improving the quality of test results.
Based on end user, in 2023, the hospital laboratories segment is expected to account for the largest share of the market. The large share of the segment is attributed to factors such as rising healthcare expenditure, increasing prevalence of chronic diseases, increasing sample loads in hospitals, and improving healthcare infrastructure in developing countries.
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Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the clinical lab automation market, followed by Europe. However, Asia Pacific is slated to register the largest CAGR during the forecast period. The growth of this market is primarily driven by the increasing investment by healthcare providers towards infrastructure improvement, the need to manage the growing burden of infectious diseases, the rising demand for clinical testing, supportive government initiatives to improve the accessibility to diagnostic services, and the need to establish more diagnostic laboratories.
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