Global Lab Automation Market Worth $5,955m in 2021

Tuesday 9 May 2017, Amsterdam

This new report, now available on ASDReports, Global Lab Automation Market Forecast 2017-2027: Automated Liquid Handling, Microplate Readers, Software & Informatics, Automated Storage & Retrieval Systems and Others indicates that the global lab automation market will see $5,955m in spending in 2021.

The global lab automation market is expected to grow at a CAGR of 8.0% in the first half of the forecast period and CAGR of 5.7% in the second half of the forecast period. The market is expected to grow at a CAGR of 6.6% from 2017 to 2027. The market is estimated at $3,984 million in 2016 and $8,320 million in 2027.

The lead analyst of the report said: “The lab automation market is set to experience considerable growth over the next decade. The main drivers for the growth include increased health care expenditure globally, benefits of lab automation over traditional laboratory settings, rising need for improved data standardization and reducing the time consumed during clinical trial process.

In 2016, the largest segment of the lab automation market by product type was automated liquid handling and it will remain as the largest segment in the forecast period. The automated liquid handling market was valued at $1,315.1m in 2016. Visiongain forecasts this market to increase to $1,908.6m in 2021.”