North America Lab Automation Market is going to reach at value of USD 6,862.47 million by 2029

The high quality North America Lab Automation market research report plays a prime role in developing and enhancing the strategies for sales, advertising, marketing, and promotion. To carry out competitive analysis, various strategies of the major players in the market have been considered that range from new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others which lead to an ascend of their footprints in the market. North America Lab Automation market report identifies as well as analyses the emerging trends along with major driving factors, challenges and opportunities in the market for Healthcare industry.

All the data of research and analysis are mapped in actionable model with strategic recommendations from the experts. North America Lab Automation market survey report calculates CAGR value fluctuation during the forecast period of 2022 -2029 for the market. The base year for evaluations in the report has been assumed as 2021 while the historic year is 2020 which tells how the North America Lab Automation market is going to act upon in the projected years by giving information about the several market insights. All the studies performed to generate an influential North America Lab Automation report are based on large group sizes and also at global level. This report splits the breakdown data by regions, type, companies, and applications.

Some of The Major Companies That Are Covered In This Report: Danaher, PerkinElmer Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., QIAGEN, F. Hoffman-La Roche Ltd, Siemens Healthcare GmbH, Abbott, Aurora Biomed Inc., BD, BIOMÉRIEUX, Eppendorf SE, LabVantage Solutions Inc., LabWare, LabLynx LIMS, Azenta US Inc., Hamilton Company, Hudson Robotics and Tecan Trading AG among others

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North America Lab Automation market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.8% in the forecast period of 2022 to 2029 and is expected to reach USD 6,862.47 million by 2029.

It offers cautious encounters on the current and past examples of the business which rely upon the events that have occurred around here space and data accumulated from them. The archive further assesses the current business patterns which are needy upon the past data. Also, it offers data on key conditions, for example, the COVID-19 pandemic and its impact on the extensive length and passing impact on the business space.

This report covers the North America Lab Automation Market and its development technology dynamics, financial situation, growth strategy, product portfolio, and forecast period. Do not miss out on the trading opportunities at North America Lab Automation Market. Get key industry insights and help your business grow by talking to our analyst. The North America Lab Automation Market report not only provided significant value to users, but also presented the market’s wide spectrum of opportunities and threats. Information gleaned from various business models, such as SWOT or PESTEL. The report additionally includes the industry size, share, creation volume, and utilization to acquire experiences about the governmental issues and tussle of dealing with an enormous piece of the portion of the overall industry.

Laboratory automation is the combination of automated technologies in the laboratory to enable new and improved processes. It is used as a strategy to research, develop, optimize and capitalize on technologies in the laboratory. It is specially used for automating laboratory processes requiring minimal human input and eliminating human error. Lab automation is used with the aim of providing more efficient testing and diagnostics.

Lab automation enables researchers and technicians to efficiently and effectively produce output in less time, which is expected to drive the lab automation market. Furthermore, the rapid spread of diseases, along with new discoveries in the field of healthcare, ascend the demand for diagnoses and treatments, which is expected to fuel the lab automation market. High government and private funding for research and discovery research and the presence of major market players also contribute to the market growth.

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The geographic regions and countries covered in the study include:

North America, South America, Asia and Pacific Region, Middle east and Africa and Europe.

The Key Points of North America Lab Automation Market – The North America Lab Automation Market trend study is based upon the CAGR calculated between 2021 and 2028. It includes all information about the market’s top manufacturers, consumers, distributors, and key players. To study the industry’s performance within each region, we determine the North America Lab Automation Market share as well as its growth rate. This Research report gives a significant wellspring of wise for business tacticians and serious examination of the worldwide market.

This conclusive market analysis provides a detailed bifurcation for the global North America Lab Automation Market, displaying a product segment and product technology as well as a regional segment. A global market analysis provides a snapshot of the competitive image and identity of the North America Lab Automation Market. This allows for evaluation of key strengths in the industry’s product offerings. The study compiles data that explains the North America Lab Automation Market’s significance and gives it an edge over its competitors. It also evaluates the market’s end-users to determine the traction and forecast future demand growth.

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Drivers

• Increasing investment & strategic initiatives by market players

The market for laboratory automation is increasing as there is high demand for specialized advanced automated services which eliminate human errors. The focus of the market players and the companies is to provide a variability of tools, equipment, machines and techniques to support the development and manufacturing of automated laboratory infrastructure. The market for laboratory automation is increasing as there is high demand for specialized advanced automated services which eliminate human error. In order to capture the North America market share, the market players are coming up with more investments and funding to build advanced technology and methods. These players are more focused on reducing manual efforts and hands-on time for the traditionally labor-intensive process. This is expected to drive the market’s growth.

• Government initiatives to strengthen laboratory infrastructures

In order to further strengthen the healthcare sector and laboratory infrastructure, government organizations play a significant role. The government’s funding and initiative to expand laboratory automation will help the market growth and increase the market players. The government collaborations and agreements with the market’s key players will further strengthen the laboratory infrastructure.

• Growing expenditure on lab automation tools and equipment

The growing expenditure on lab automation tools and equipment is increasing. This is mainly due to the demand for laboratory examinations increasing rapidly for various reasons, such as an aging population, chronic disease growth, the discovery of new and more effective biomarkers and an increase in general health or diagnostic demands.

• Reducing human efforts and eliminating human error

There are several traditional ways to reduce human errors, but developing a system to minimize the risk of human error will help ensure that you don’t repeat the same mistakes again. Manufacturing facilities are focused on building advanced systems in order to utilize artificial intelligence technology to recognize and correct issues before they occur.

Opportunities

• Rising healthcare expenditure

Healthcare expenditure has become higher due to several factors, such as the aging population, chronic disease prevalence, rising drug prices, healthcare service costs and administrative costs among others. However, 2020 was the turning point where the expenses ranked the highest due to the COVID-19 pandemic. It has been found that in 2020, healthcare expenditure grew at the fastest rate of growth experienced since 2002 due to the pandemic.

• Strategic initiatives by key players

Various initiatives have been taken by the leading pharma & healthcare companies to automate the labs to deliver advanced healthcare services to the doorstep within less time. The growing healthcare demand in the market is the main cause of competition between the leading healthcare & pharma companies in the improvement of lab automation worldwide. Hence, the strategic initiatives by market players are expected to act as an opportunity for the lab automation market’s growth.

• Rise in the number of pharma companies

The pharmaceutical industry has experienced significant growth during the past two decades. Growing disposable incomes, increased access to healthcare facilities, growing consciousness towards healthcare among people and increased penetration of medical services are making the pharma companies rise in number to fulfill the demand.

The COVID-19 pandemic had a great impact on the pharmaceutical industry because of the increased demand for medical services and drug supplies. Pharma industries have been growing fastly worldwide to fulfill the high demand of mankind and hence the service should be delivered at the earliest. So, to achieve error-free fast serving advanced healthcare facilities within less time, lab automation is needed. Thus, the rise in the number of pharma companies is expected to act as an opportunity for the lab automation market growth.

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Recent Developments

• In June 2022, BD announced that they had completed the acquisition of Straub Medical AG, a privately held company. With this acquisition, the company has added the valuable expertise and experience of Straub Medical AG and expanded its product portfolio
• In January 2022, QIAGEN announced that it has entered into new collaborations with Atlia Biosystems to provide non-invasive prenatal testing solutions.

North America Lab Automation Market Scope

North America lab automation market is segmented into product type, automated systems, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

• Equipment
• Analyzer
• Software & Informatics

Based on product type, the North America lab automation market is segmented into equipment, analyzer and software and informatics.

Automated Systems

• Total Lab Automation
• Modular Lab Automation

Based on automated systems, the North America lab automation market is segmented into total lab automation and modular lab automation.

Application

• Clinical Diagnostics
• Drug Discovery
• Genomics Solutions
• Proteomic Solutions
• Analytical Chemistry
• Protein Engineering
• Lyophilization
• Bio Analysis
• System Biology
• Others

Based on application, the North America lab automation market is segmented into drug discovery, clinical diagnostics, genomic solutions, proteomic solutions, bio analysis, protein engineering, lyophilization, system biology, analytical chemistry and others.

End User

• Biotechnology And Pharmaceuticals
• Hospitals & Laboratories
• Research And Academic Institutes
• Others

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