The global laboratory benchtop automation market garnered a market value of US$ 1.31 Billion in 2022 and is expected to accumulate a market value of US$ 2.13 Billion by registering a CAGR of 5% in the forecast period of 2022 to 2032. The growth of the market can be attributed to the increasing usage of laboratory benchtop automation in hospitals and diagnostic centers.
Automation in laboratories has dramatically changed the non-analytic and analytic aspects of laboratory operations. The continuous evolution of automation technologies to improve the quality and efficiency of laboratory tests is the major factor impelling the adoption of laboratory benchtop automation systems.
With the continuous advancement in information technology, electrical engineering, and instrumentation, the demand for laboratory benchtop automation is increasing to meet the specific requirement for laboratory tests.
With the c, the need for a laboratory benchtop automation system is increased to overcome the challenges of conventional systems in terms of speed, efficiency, and volume of tests.
Laboratory benchtop automation is an automated workstation that includes multiple processing instruments which are linked together by a plate mover. Laboratory benchtop automation system is useful for completing repetitive tasks involved in drug discovery, and clinical, and analytical testing activities.
The increasing adoption of laboratory benchtop automation in hospitals and diagnostics centers as an efficient system supporting the treatment of diseases is driving the growth of the laboratory benchtop automation market. Furthermore, the advancements in diagnostics and forensics research are also supporting the demand for laboratory benchtop automation systems. Furthermore, the advancements in diagnostics and forensics research are also supporting the demand for laboratory benchtop automation systems.
Which are Some Prominent Drivers of the Laboratory Benchtop Automation Market?
The increasing adoption of laboratory benchtop automation systems for time and cost-saving applications is the primary factor that drives the growth of the laboratory benchtop automation market. Moreover, the increase in the number of research and development centers along with the continuous launches of innovative equipment is also fuelling the growth of the laboratory benchtop automation market.
The increasing focus of laboratories on replacing manual methods of repetitive testing activities with advanced technology is playing a significant role in driving the growth of the laboratory benchtop automation market.
Apart from these, various benefits of laboratory benchtop automation systems such as cost, labor savings, and better testing results are increasing the popularity of laboratory benchtop automation. Moreover, the increasing demand for standardized and real-time testing & analysis is also supporting the demand for laboratory benchtop automation systems.
What are the Challenges Faced by the Laboratory Benchtop Automation Market?
The reluctance of various small and medium-sized organizations towards the adoption of laboratory benchtop automation systems is the major factor hampering the growth of the laboratory benchtop automation market. Moreover, the lack of skilled personnel is also a key challenge for the growth of the laboratory benchtop automation market.
Innovation Creating Lucrative Opportunities for Laboratory Benchtop Automation Market in North America?
Based on geography, North America is anticipated to hold a significant market share in terms of value in the laboratory benchtop automation market owing to the early adoption of advanced technologies and continuous innovation and development of laboratory products by key laboratory benchtop automation system providers in the region. Thus, North America is expected to register a CAGR of 9% for the laboratory benchtop automation market in the forecast period 2022 to 2032
Research and Development Centers Accelerating Growth of Laboratory Benchtop Automation Market in Asia Pacific?
The continuously growing pharmaceutical market in the Asia Pacific due to the increase in the number of research and development centers in India, China, and Japan are the factors that support the rapid growth of the laboratory benchtop automation market in the Asia Pacific.
Also, the evolution of advanced laboratory testing technologies in countries of Asia Pacific is fuelling the growth of the laboratory benchtop automation market. Furthermore, the laboratory benchtop automation markets are expected to increase due to the presence of diagnostics and clinical research centers in the regions.
Due to the aforementioned reasons, Asia Pacific is expected to register a CAGR of 7% for the laboratory benchtop automation market in the assessment period 2022 to 2032
Market Competition
Prominent players in the global laboratory benchtop automation market are Thermo Fisher Scientific, Danaher Corporation, Agilent Technologies, QIAGEN, PerkinElmer, Beckmann Coulter Inc., Siemens Healthcare, ABBOTT, Logos Biosystems Inc., Eppendorf, and Biotek Instruments. Attributed to the presence of such a high number of participants, the market is highly competitive.
Agilent Technologies, a key market player, is offering Benchtop ELISA Automation with BenchCel Microplate Handler that can be used for endpoint detection of ELISA.
