Laboratory automation systems market to rise at 8.68% CAGR until 2028

It is projected to grow by $2.01b within the forecast period.

The global market for laboratory automation systems is projected to grow by $2.01b at a compound annual growth rate (CAGR) of over 8.68%.

A report by Technavio revealed that the market is driven by the growing demand for rapid and accurate laboratory results, increasing activities in research and development, and the rising need for cost-effective and efficient laboratory operations.

“Systems like Automation, Dependence, and Screening are trending in this sector. Robotics and Procedures are key components of these systems, enabling the automation of various laboratory tasks,” The report said.

Meanwhile, the utilisation of technology and models in laboratory automation is also on the rise due to productivity enhancements and reduced human error.

Moreover, lab automation systems are seen as a cost-effective solution with streamlined workflows and a minimal need for manual labour.

“These systems offer benefits like improved data management, standardisation of processes, and increased throughput,” The report added.